Pubali Bank PLC.

Pubali Bank was started in East Pakistan as Eastern Mercantile Bank Limited in the year 1959 under Bank Companies Act 1913 by Bengali businessmen.[4] After independence of Bangladesh in 1971 this Bank was nationalized under Bangladesh Bank's (nationalisation) Ordinance and renamed as Pubali Bank.[4]

Subsequently, Pubali Bank was denationalized in the year 1983 as a private bank and renamed as Pubali Bank Limited.[3]

The Bank signed a 100 million taka loan agreement with Uttara Finance and Investments Limited in 2007.[5]

In 2009, Pubali Bank had reserves worth 88.89 billion taka.[6] It's non-performing loans went from 18.4 per cent in 2004 to 2.96 per cent.[6]

In February 2014, Bangladesh High Court Division remove eight members of the board of directors including chairman Hafiz Ahmed Mazumder for not possessing the minimum required shares in response to a petition filed by Shafee Ahmed Chowdhury, a shareholder of the bank.[7][8]

Five million taka went missing in the bank's branch in Chittagong in 2016 following which five employees of the bank were arrested.[9][10] Three employees of the bank in Chittagong were sent to jail for embezzling 128.6 million taka from the bank.[11] In January, Safiul Alam Khan Chowdhury was appointed managing director of Pubali Bank.[12] In May, Habibur Rahman was appointed chairman of the bank.[13] That's It Fashions Limited, a subsidiary of Ha-Meem Group, announced plans to purchase 11 million shares of Pubali Bank.[14]

In May 2019, Azizul Huq was elected chairman of the Pubali Bank.[15]

In 2021, Bangladesh Securities and Exchange Commission approved 5 billion taka perpetual bonds of the bank.[16] It signed a 52 million USD loan agreement with Bank Muscat.[17]

The Pubali Bank donated one million taka to Bishwo Shahitto Kendro in October 2022.[18] It received 50 million USD from the British International Investment.[19]

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• Pubali Bank Limited