Pubali Bank Limited is the successor of the erstwhile Eastern Mercantile Bank Limited incorporated in 1959 under the Companies Act 1913. Eastern Mercantile Bank Ltd was nationalized under Bangladesh Bank's (Nationalization) Order 1972 and was renamed as Pubali Bank.
It was denationalized on 30 June 1983 under the Bangladesh Bank's (Nationalization) Amendment Ordinance 1983. Since inception this Bank has been playing a vital role in socio-economic, industrial and agricultural development as well as in the overall economic development of the country through savings mobilization and investment of funds.
After being handed over to the private ownership and management, Pubali Bank consolidated its business and profitability and earned profits in the years 1985 to 1989. However with the increase in classified loans and advances especially to Govt. and Semi Govt. sector, and due to the implementation of the financial sector reform program of the Govt. in 1989 requiring strict classification provision, the Bank fell into catastrophe and started to incur loss.
Through the efforts of the management, the Bank started making operating profit from 1994. In 1996 Bangladesh Bank identified Pubali Bank as a problem bank considering the capital inadequacy, provision shortfall, amount of classified loans etc and the Board signed a Memorandum of Understanding with the central bank to regularly report on the improvements in these areas. Pubali Bank has improved its performance in the recent years.
The Bank expanded its operation through opening 7 new branches at different places during the year 2011. As such the total number of branches of the bank stand at 406 all over the country. At Present, Pubali Bank is the largest private commercial bank having 410 branches and it has the largest real time centralized online banking network.
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