Top 10 Best Private Banks in Bangladesh (2024)

The “top” private banks in Bangladesh might be subjective, depending on a variety of characteristics such as financial success, customer service, and market reputation. Rankings may fluctuate over time, but as of my most recent update in September 2023, the following top 10 private banks in Bangladesh were widely regarded as the best.

1. Islami Bank Bangladesh Ltd

Islami Bank Bangladesh PLC was established as a public limited company under the Companies Act of 1913 on March 13, 1983. On March 30, the same year, the bank formally began operations. It is one of Bangladesh’s first and most notable Islamic banks.IBBPLC acts in accordance with Islamic Sharia principles as an Islamic bank. It provides a variety of interest-free financial products and services that correspond to Islamic ethical and legal requirements.

IBBPLC offers a variety of Islamic banking products and services, including Islamic savings accounts, Islamic investment and deposit accounts, Islamic financing (Murabaha, Mudarabah, Ijara, and so on), and Islamic credit cards. IBBPLC operates its own network of ATM booths across Bangladesh. Customers may use this network to easily access their accounts, make withdrawals, and complete other financial operations.

2. BRAC Bank

BRAC Bank is a notable private sector commercial bank located in Dhaka, Bangladesh, noted for its innovative services and strong client focus. BRAC Bank, founded in 2001, has played an important part in the growth of Bangladesh’s financial sector. The bank’s dedication to innovation is reflected in its suite of contemporary, customer-focused services.

BRAC Bank provides a wide range of financial solutions to meet the requirements of both people and enterprises. Savings and current accounts, personal loans, credit cards, and different deposit schemes are examples. The bank is also heavily involved in trade financing, offering services to its corporate clients to assist international commerce.

One of BRAC Bank’s significant breakthroughs is its powerful online and mobile banking services, which allow users to transact in real time.

3. Dutch-Bangla Bank

Another well-known private bank in Bangladesh is Dutch-Bangla Bank, or DBBL, which is renowned for its customer-focused approach and technological innovation. Since its founding in 1995, DBBL has always used state-of-the-art banking services and technology to enhance the customer experience.

Among the bank’s technological innovations is the introduction of mobile banking services in Bangladesh, which has simplified the process for customers to obtain financial services using mobile phones, even when they are in remote locations. The population has been incredibly receptive to DBBL’s “Rocket” mobile banking service.

4. Eastern Bank Limited (EBL)

Eastern Bank Limited, or EBL, is one of Bangladesh’s oldest and largest private sector banks. EBL, which was founded in 1992, has a long history of serving the banking requirements of Bangladesh’s people and companies.

EBL offers a comprehensive range of financial services, including retail banking, corporate banking, small and medium-sized business banking, and wealth management. Deposit accounts, loans, credit cards, and trade financing solutions are among the products offered by the bank. EBL has earned a solid reputation for its commitment to providing excellent customer service.

One prominent feature of EBL is its broad network of branches and ATMs, which makes banking accessible to a huge portion of the population. Furthermore, the bank has invested in technology to provide online and mobile banking services.

5. Standard Chartered Bank

While an international bank, Standard Chartered Bank has a major presence in Bangladesh, providing a variety of financial products. Standard Chartered Bank, founded in 1948, has established itself as a prominent financial company with a global network of activities.

Standard Chartered Bank offers a comprehensive range of financial services in Bangladesh, including retail banking, corporate banking, and wealth management. It offers savings and current accounts, credit cards, personal loans, and trade financing solutions to both people and corporations.

One of the bank’s strengths is its worldwide connection, which is advantageous for companies involved in cross-border commerce and investment. The global presence of Standard Chartered Bank enables it to deliver significant services to clients with international banking demands.

The bank’s dedication to innovation is reflected in its digital banking services.

6. City Bank Limited

One of the largest private banks in Bangladesh, City Bank Limited, sometimes simply known as City Bank, is well-known in both corporate and retail banking. Since its founding in 1983, the bank has grown to become a significant player in the nation’s financial industry.

Retail, corporate, small- and medium-sized business, and treasury operations are just a few of the financial services offered by City Bank. The bank offers trade finance options, credit cards, loans, and deposit accounts.

The bank’s broad network of branches and ATMs, which guarantees that clients have easy access to their accounts, demonstrates its commitment to providing excellent customer service. In order to enhance the customer experience, City Bank has also incorporated cutting-edge technology, such as online and mobile banking services.

7. United Commercial Bank (UCB)

United Commercial Bank (UCB) is another important private bank in Bangladesh, providing a wide range of financial services to a diverse customer base. Since its inception in 1983, UCB has played a critical role in the country’s banking system.

Individuals, enterprises, and organizations may all benefit from UCB’s extensive variety of banking products and services. Deposit accounts, loans, credit cards, and trade finance solutions are all examples of this. The bank’s dedication to client service is demonstrated by its wide network of branches and ATMs.

UCB has added digital banking options to its traditional banking services, allowing consumers to conduct transactions and manage their funds online. The bank has concentrated on broadening its reach in order to serve a wide customer base and satisfy financial needs.

8. ONE Bank Limited

As the name implies, ONE Bank Limited is recognized for its customer-centric approach and extensive range of financial solutions. Since its inception in 1999, the bank has earned a reputation for its dedication to offering personalized financial services.

Savings and current accounts, personal loans, credit cards, and trade financing solutions are all available from ONE Bank. The bank’s commitment to customer care is supported by its network of branches and ATMs, which ensures that clients have easy access to financial services.

In addition, the bank has embraced technology to provide online and mobile banking services, allowing clients to manage their affairs from any location. Its commitment to a customer-centric strategy has aided its image in the banking industry.

9. Southeast Bank Limited

Having been created in 1995, Southeast Bank Limited is a prominent private bank in Bangladesh, with a broad clientele. The bank offers people, businesses, and organizations a wide range of financial services.

Credit cards, trade finance options, personal and business loans, and savings accounts are all provided by Southeast Bank. Its extensive branch and ATM network, which makes banking convenient, demonstrates its commitment to providing excellent customer service.

10. Prime Bank Limited

Prime Bank Limited was established in 1995 and is well-known for both its wide branch network and wide range of retail and corporate banking services. The bank has been more present in Bangladesh’s financial sector throughout time.

Among other things, Prime Bank provides credit cards, trade finance options, personal and business loans, and savings accounts. Its wide network of branches and ATMs, which make banking convenient for customers, demonstrate its commitment to providing excellent customer service.