Sonali Bank reports Tk 988cr profit in 2024

Sonali Bank saw its earnings rise in 2024, driven by higher interest income.

The state-owned lender saw its consolidated net profit rise by 32 percent year-on-year to Tk 988 crore in 2024, according to its financial statement.

The bank made a profit of Tk 747 crore in 2023.

Its consolidated earnings per share surged to Tk 21.82 last year, up from Tk 16.50 in 2023.

The bank's net interest income rose by 149 percent year-on-year to Tk 1,490.62 crore.

Its net operating cash flow per share soared to Tk 412.27 from Tk 75.86 over the same period.

Sonali Bank was formed soon after Bangladesh's independence through the nationalisation of the then National Bank of Pakistan, Premier Bank, and Bank of Bahawalpur.

As a fully state-owned institution, it has carried out various government-assigned socio-economic schemes and money market operations across all sectors of the economy, according to its website.

The bank became Sonali Bank Ltd in 2007 with full government ownership.