National Bank PLC
A Bangladeshi private-sector commercial bank with a nationwide branch and sub-branch network.
Last updated August 31, 2026
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Overview
National Bank PLC is a privately held commercial bank in Bangladesh. It was established in 1983 as the first private-sector bank in the country to be fully owned by Bangladeshi nationals. The bank began commercial operations through its first branch in Dhaka in March 1983 and opened a second branch in Chittagong later that year. Its business has historically focused on conventional commercial banking, including deposit-taking, lending, trade-related services, foreign-exchange activity, remittances, and card-based financial services. The bank operates under the National Bank brand and has developed a broad domestic distribution network. The referenced description reports 221 branches and 65 sub-branches across Bangladesh, giving it a presence in major commercial centers and regional markets. Its customer base and lending activities span individuals, businesses, corporate borrowers, and institutions. As with other Bangladeshi commercial banks, its operating environment is supervised by Bangladesh Bank, the country's central bank and banking regulator. Ownership and control changed materially in 2009, when Sikder Group took over ownership and management. The group subsequently became closely associated with the bank's board and senior leadership. The institution has experienced repeated governance, credit-quality, regulatory, and recovery issues in the 2010s and early 2020s. These included a 2015 construction-site collapse involving a bank office tower under construction, disputes and recovery action involving large borrowers, regulatory restrictions on lending, scrutiny of related-party and director-linked exposures, allegations concerning incomplete or concealed loan and credit-card information, and investigations involving members of the Sikder family. In 2021, Bangladesh Bank imposed enhanced controls on the bank's lending activity and requested information about loans to several corporate borrowers. The regulator also instructed the bank not to disburse loans above a specified threshold without approval and declined to extend the directorship of Rick Haque Sikder because of loan-default concerns. The bank reported a loss of 3.7 billion Bangladeshi taka in 2022 and later obtained emergency funding from Sonali Bank. It also announced a plan to raise 100 million US dollars through bonds, although the available reference material does not establish whether the plan was completed. Leadership changed several times during this period. Zainul Haque Sikder, identified in the reference material as chairman, died in February 2021, after which Monowara Sikder became chairperson. Bangladesh Bank directed the termination of managing director ASM Bulbul in April 2021. Mehmood Hossain became managing director in January 2023. The reference material also identifies Adil Chowdhury as managing director and chief executive officer, but does not provide a date for his appointment; his current status therefore requires verification. National Bank remains an active Bangladeshi banking institution, but its recent history is defined as much by regulatory intervention, loan-recovery actions, and governance scrutiny as by branch expansion and ordinary banking operations. Publicly available information in the supplied material is insufficient to confirm a current website, ticker, precise ownership percentage, audited current financial position, or the complete present executive team.
History
National Bank PLC was founded in Bangladesh in 1983 as the country's first private-sector bank fully owned by Bangladeshi nationals. Although the institution was formally opened on 28 March, its first branch began commercial operations on 23 March at 48 Dilkusha Commercial Area in Dhaka. A second branch followed on 11 May at Khatungonj in Chittagong. These openings established the bank's initial presence in Bangladesh's two most important commercial centers. The bank expanded as a conventional domestic commercial institution, providing deposit, credit, trade, foreign-exchange, remittance, and card-related services. Over time, it built a substantial physical network. The supplied reference describes 221 branches and 65 sub-branches across Bangladesh, indicating an emphasis on nationwide access rather than a narrowly regional franchise. A major ownership and management transition occurred in 2009, when Sikder Group took over the bank. The group became associated with the institution's governance and several subsequent controversies involving lending, board relationships, and regulatory oversight. In 2015, an office tower being built for National Bank in Karwan Bazar collapsed. The incident caused damage or disruption to a neighboring structure and roadway, and Dhaka's mayor accused the bank of failing to cooperate adequately in the response. The bank also became involved in significant loan-recovery litigation. In 2016, it sought to auction properties linked to SA Oil Refinery, part of S.A. Group, to recover a reported 2.15 billion taka loan exposure. It also pursued legal action over a dishonored cheque, while a Chittagong court issued a travel restriction against S.A. Group managing director Shahabuddin Alam. These events illustrated the bank's use of judicial and enforcement mechanisms to address distressed commercial lending. Governance and regulatory problems intensified in 2021. After chairman Zainul Haque Sikder died on 10 February, Monowara Sikder was elected chairperson on 24 February. Bangladesh Bank then instructed National Bank not to issue loans without prior authorization and requested detailed loan information. The regulator examined lending connected with Desh TV, Rongdhanu Builders, Rupayan Group, and Shanta Enterprise. It also directed the chairperson to terminate managing director ASM Bulbul. Bangladesh Bank reported that loans to directors of other banks represented 72.16 billion taka, or 18 percent of the bank's total loans, while 20.85 billion taka was in default and 21.54 billion taka had been written off in 2020. The regulator additionally restricted the disbursement of loans above 100 million taka without approval. Later that year, it declined to extend Rick Haque Sikder's directorship because of loan-default issues. A separate case involved allegations that the owners of Messrs Elias Brothers had embezzled 1.83 billion taka from the bank. In 2022, Bangladesh Bank fined National Bank 5.5 million taka after finding that the bank had not properly reported loan and credit-card information involving 11 people, including members of the Sikder family. The regulator's findings also covered substantial credit-card spending and an allegedly unauthorized foreign-currency account connected with ZH Sikder Women's Medical College. In the same year, National Bank reported a loss of 3.7 billion taka and announced a plan to raise 100 million US dollars through bonds. Bangladesh Bank also rejected the nomination of Mohammad Sayed Ahmed Raza, associated with Sikder Insurance Company, to the bank's board. The Appellate Division upheld an order allowing investigations by the Anti-Corruption Commission, Criminal Investigation Department, and Bangladesh Financial Intelligence Unit into alleged money laundering involving Ron Haque Sikder and family members. Mehmood Hossain became managing director in January 2023. The bank subsequently took 1.5 billion taka in emergency loans from Sonali Bank, highlighting continued liquidity or financial-stability pressure. The supplied reference also identifies Adil Chowdhury as managing director and chief executive officer, but does not explain the transition from Hossain or provide a date. National Bank remains active, although confirmation of its current financial condition, leadership roster, ownership details, and official digital properties requires additional primary-source verification.
- 2023
Emergency borrowing from Sonali Bank
[1]National Bank obtained 1.5 billion taka in emergency loans from Sonali Bank.
- 2022
Reported annual loss
[1]The bank reported a loss of 3.7 billion Bangladeshi taka for 2022.
- 2021
Enhanced Bangladesh Bank supervision
[1]Bangladesh Bank imposed prior-approval requirements and other restrictions while reviewing the bank's loan book and governance.
- 2015
Office-tower construction collapse
[1]A National Bank office tower under construction in Karwan Bazar collapsed and affected nearby property and a road.
- 2009
Sikder Group assumed ownership and management
[1]Sikder Group took control of ownership and management, beginning a new phase in the bank's governance.
- 1983
National Bank established and began operations
[1]National Bank was opened in March 1983 as Bangladesh's first private-sector bank fully owned by Bangladeshi nationals. Its first branch operated in Dhaka, followed by a Chittagong branch.
Products and positioning
A domestically owned Bangladeshi private-sector commercial bank serving retail, business, and institutional customers through a nationwide physical distribution network.
Deposits
Retail and corporate deposits
National Bank's core deposit business serves individuals, businesses, and other customers through its branch and sub-branch network. The supplied material does not provide a current product catalogue or detailed account terms.
Loans
Commercial lending
The bank provides commercial credit to businesses and institutions. Its lending portfolio has included large corporate exposures, although the institution has faced regulatory scrutiny over defaults, related-party concerns, and lending controls.
Transaction banking
Trade and foreign-exchange services
As a full-service commercial bank, National Bank offers trade-related and foreign-exchange banking services. The reference material confirms foreign-currency activity but does not list the individual instruments or current eligibility rules.
Cards
Credit-card services
National Bank has operated credit-card services. Credit-card reporting and spending connected with several individuals became part of Bangladesh Bank's 2022 regulatory findings.
Controversies
2022
Fine over loan and credit-card reporting
Bangladesh Bank fined National Bank after identifying undisclosed or improperly reported information concerning loans and credit-card use involving 11 individuals.
2022
Investigation involving Sikder family members
The Appellate Division upheld an order allowing anti-corruption, criminal-investigation, and financial-intelligence authorities to investigate alleged money laundering involving Ron Haque Sikder and family members.
2022
Bangladesh Bank fines National Bank over credit-card reporting violations
Bangladesh Bank fined National Bank Tk 55 lakh after a probe found the bank had not submitted credit-card loan information for 11 people. A Bangladesh Bank official said the bank allowed spending beyond foreign-currency limits and described the spending as money laundering; the article reports these as the official’s claims.
2021
Regulatory scrutiny of lending and governance
Bangladesh Bank imposed lending restrictions, requested information about several borrowers, reviewed director-linked exposures, and required action concerning the managing director.
2015
Karwan Bazar construction collapse
A National Bank office tower under construction collapsed, causing a neighboring building and roadway to suffer a cave-in. The bank was criticized by Dhaka's mayor for allegedly failing to cooperate in dealing with the incident.
Brand decisions
2023
Emergency borrowing from Sonali BankOtherBackground
The bank faced financial pressure following a reported 3.7 billion taka loss in 2022.
Action taken
National Bank obtained emergency loans from Sonali Bank.
Aftermath
The borrowing provided emergency funding; the supplied material does not describe its repayment or longer-term effect.
Emergency loan. 1.5 billion BDT (2023)
2022
Proposed international bond fundraisingStrategyBackground
National Bank announced a plan to raise additional funds during a period of reported losses and regulatory pressure.
Action taken
The bank announced a proposed 100 million US dollar bond issue.
Aftermath
The available material does not confirm whether the bond issue was completed.
Proposed bond raise. 100 million USD proposed (2022)
2016
Pursuit of collateral auction against SA Oil RefineryOtherBackground
National Bank sought to recover a reported 2.15 billion taka loan exposure to SA Oil Refinery and related parties.
Action taken
The bank moved toward auctioning properties and pursued court and police action connected with the recovery effort.
Aftermath
A Chittagong court issued a travel ban against SA Group managing director Shahabuddin Alam. The supplied material does not establish the final recovery outcome.
Loan exposure targeted for recovery. 2.15 billion BDT subject to recovery action (2016)
Recent events
- Unconfirmed
Bangladesh Bank fines National Bank over credit-card reporting violations[2]
Bangladesh Bank fined National Bank Tk 55 lakh after a probe found the bank had not submitted credit-card loan information for 11 people. A Bangladesh Bank official said the bank allowed spending beyond foreign-currency limits and described the spending as money laundering; the article reports these as the official’s claims.
Five companies announce plans for Montreal-area vaccination clinics[3]
Reported:
Bell, Couche-Tard, Groupe CH, Metro and National Bank announced plans to set up two COVID-19 vaccination clinics in Montreal and Brossard starting in early May, and committed to covering the $4 million setup and operating cost.
Sources3 sources
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