One Bank PLC
One Bank PLC is a Bangladeshi public limited commercial bank providing deposit-taking, lending, retail, corporate, and related financial services.
Last updated August 31, 2026
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Overview
One Bank PLC, formerly One Bank Limited and commonly styled ONE Bank, is a Bangladeshi public limited commercial bank headquartered in Dhaka. The bank began operations in May 1999 and operates within Bangladesh’s regulated banking sector, taking deposits from individuals and organizations through savings and other deposit schemes and deploying those funds through lending across multiple economic sectors. Its business model is therefore centered on conventional commercial banking: mobilizing deposits, extending credit, servicing retail customers and businesses, and providing associated financial products. The bank developed as a locally focused institution rather than as an international banking group. Its activities have included retail banking, corporate and commercial banking, lending, deposit products, investment-related services, and digital or mobile banking initiatives. In 2004, it entered into an arrangement with Central Depository Bangladesh Limited to convert paper-based shares into electronic form. It also invested BDT 40 million in Vanik Bangladesh Limited, an entity later renamed LankaBangla Finance Limited. In 2009, the bank announced a BDT 1 billion mutual fund, expanding its financial-services activity beyond ordinary deposit and loan products. Digital access became part of the bank’s development agenda during the 2010s. In 2012, One Bank signed an agreement connected with the establishment of mobile banking services through Bangladesh’s Union Information and Service Centres. The initiative was intended to extend access to financial services through a broad network of local information centres and reflected the country’s wider Digital Bangladesh program. The bank has also experienced regulatory and governance events typical of a closely supervised financial institution. Bangladesh Bank dismissed managing director Mirza Ejaj Ahmed in 2003 over alleged links to Hundi accounts associated with Uttara Group of Industries and Doel Group. In 2007, the central bank warned the institution regarding the appointment of a former managing director as a consultant in circumstances considered inconsistent with banking rules. In 2020, Bangladesh Bank removed chairman Sayeed Hossain Chowdhury after concerns relating to loan delinquency involving a Standard Bank loan, and later appointed a Bangladesh Bank official as an observer. These events formed part of a period in which asset quality and governance attracted public attention. The institution pursued capital and funding measures as the regulatory environment developed. It decided in 2008 to raise authorized capital to BDT 5 billion following Bangladesh Bank guidance to banks. In 2019, it announced plans to issue BDT 4 billion in bonds. Leadership changes included the appointment of Md Monzur Mofiz as managing director in December 2021. The bank also reduced chief executive compensation after a decline in profit in 2021, according to the cited reference material. In 2022, One Bank received an information-security-management certification from the International Organization for Standardization. In 2023, it changed its legal name from One Bank Limited to ONE Bank PLC, reflecting its status as a public limited company. The brand remains associated with Bangladesh-focused commercial banking and serves customers through banking, credit, investment-related, and digital-service offerings. Publicly available reference material does not establish a broader international operating footprint, a parent multinational group, or a separate consumer-facing sub-brand portfolio.
History
One Bank PLC traces its operating history to the launch of One Bank Limited in Bangladesh in May 1999. It was established as a public limited commercial bank serving the domestic market. Its core activity has been financial intermediation: accepting deposits through savings and other schemes and lending those funds to customers and economic sectors at a margin. The available reference material identifies Dhaka as the institutional center and does not indicate a substantial overseas branch network or international consumer business. During its early development, the bank became involved in Bangladesh’s transition from paper-based securities administration to electronic share custody. On 21 November 2004, it signed an agreement with Central Depository Bangladesh Limited to convert paper shares into electronic shares. In the same period, it purchased BDT 40 million worth of shares in Vanik Bangladesh Limited. Vanik Bangladesh was subsequently renamed LankaBangla Finance Limited. The investment linked One Bank to a broader financial-services venture involving Bangladeshi and foreign partners, although the bank’s principal identity remained commercial banking. Regulatory supervision became a recurring feature of the bank’s history. In January 2003, Bangladesh Bank dismissed managing director Mirza Ejaj Ahmed because of alleged connections with Hundi accounts associated with Uttara Group of Industries and Doel Group. In September 2007, the central bank warned One Bank after it hired a former managing director as a consultant, an arrangement described as contrary to banking rules. These incidents illustrate the governance and compliance obligations applying to Bangladeshi banks. The bank pursued capital strengthening and product diversification in the late 2000s. In April 2008, it decided to increase authorized capital to BDT 5 billion after Bangladesh Bank instructed banks to raise their authorized capital. In June 2009, it launched a BDT 1 billion mutual fund. These measures broadened the institution’s funding and investment-related activities beyond basic deposits and loans. Digital banking became more prominent in the following decade. In 2012, managing director Farman R Chowdhury signed an agreement with representatives of Bangladesh’s Local Government Division and the Digital Bangladesh program to establish mobile banking services through 4,501 Union Information and Service Centres. The initiative sought to use local service points to extend access to banking services and aligned the bank with national efforts to expand digital public infrastructure. The 2010s also brought changes in market perception and governance. One Bank’s shares declined in February 2016. Sayeed Hossain Chowdhury was reelected chairman in June 2018 and again in August 2019. In September 2019, the bank announced plans to issue BDT 4 billion in bonds. Zahur Ullah was appointed vice-chairman during this period. Governance and asset-quality concerns intensified in 2020. Bangladesh Bank removed Sayeed Hossain Chowdhury as chairman over loan-delinquency concerns involving a loan from Standard Bank. The reference material also reports that the bank had BDT 19.54 billion in bad loans in June of that period, equal to 9.63 percent of its loans, although the cited summary does not clearly specify the year in the sentence. In November, Bangladesh Bank appointed its official Md Shazzad Hossoin as an observer at One Bank. The bank later reduced chief executive compensation following a decline in profit in 2021. Md Monzur Mofiz became managing director on 23 December 2021. In September 2022, the bank received an ISO certification relating to information security management. In 2023, it adopted the legal name ONE Bank PLC. The name change marked its current public-limited-company identity, while its principal business remained Bangladesh-focused commercial banking. Publicly available material supplied for this entry does not provide a complete branch count, current financial statements, detailed product specifications, or a verified chronology of all directors and executives; those areas require further review.
- 2023
Name changed to ONE Bank PLC
[1]One Bank Limited adopted the legal name ONE Bank PLC.
- 2022
Information-security certification
[1]The bank received an ISO certification concerning information security management.
- 2021
Managing director appointed
[1]Md Monzur Mofiz became managing director on 23 December 2021.
- 2020
Chairman removed and observer appointed
[1]Bangladesh Bank removed the chairman over loan-delinquency concerns and later placed an observer at the bank.
- 2019
Bond issue announced
[1]The bank announced plans to issue BDT 4 billion in bonds.
- 2012
Mobile-banking initiative
[1]One Bank entered an agreement to establish mobile banking through Union Information and Service Centres.
- 2009
Mutual fund launched
[1]The bank launched a mutual fund with a stated value of BDT 1 billion.
- 2008
Authorized capital increase
[1]One Bank decided to raise authorized capital to BDT 5 billion in response to Bangladesh Bank guidance.
- 2004
Electronic share conversion agreement
[1]The bank agreed with Central Depository Bangladesh Limited to convert paper shares into electronic shares.
- 2003
Managing director dismissed by regulator
[1]Bangladesh Bank dismissed Mirza Ejaj Ahmed over alleged links with Hundi accounts associated with two business groups.
Products and positioning
A Bangladesh-focused commercial bank combining conventional deposit and lending services with corporate banking, investment-related products, and expanding digital access.
Retail banking · 1999
Deposit and savings schemes
The bank’s foundational retail offering consists of deposit-taking through savings schemes and other account products. These services provide individuals and organizations with places to hold funds while supplying the institution with resources for lending. The available reference material does not identify individual account names, rates, eligibility rules, or current terms.
Consumer finance
Retail lending
One Bank provides lending to retail customers as part of its commercial-banking activities. The supplied sources describe lending in general but do not specify a complete current catalog of personal, home, vehicle, or other consumer-loan products. Product-level details and present availability require verification from official bank materials.
Business banking · 1999
Corporate and commercial banking
Corporate and commercial banking is a central part of the institution’s operating model. One Bank accepts deposits from organizations and lends across economic sectors, serving business financing requirements within Bangladesh. The reference material does not provide a detailed breakdown of sector portfolios, credit limits, or named corporate products.
Digital banking · 2012
Mobile banking
In 2012, One Bank pursued a mobile-banking initiative linked to 4,501 Union Information and Service Centres. The project was designed to extend access through local digital-service infrastructure. The supplied material does not establish the current product name, technical platform, or whether the original service remains available in the same form.
Investment services · 2009
Mutual fund
The bank launched a mutual fund in June 2009 with a stated size of BDT 1 billion. This represented a move into investment-related financial services alongside the bank’s deposit and lending operations. The source material does not provide the fund’s name, investment mandate, current status, or subsequent performance.
Controversies
2020
Chairman removed amid loan-delinquency concerns
Bangladesh Bank removed HRC Group chairman Sayeed Hossain Chowdhury from the chairmanship of One Bank over delinquency on a loan from Standard Bank. The regulator subsequently appointed an observer to the bank.
2007
Regulatory warning over consultant appointment
Bangladesh Bank warned One Bank after the institution hired a former managing director as a consultant in a manner described as violating banking rules.
2003
Dismissal of managing director over alleged Hundi links
Bangladesh Bank dismissed managing director Mirza Ejaj Ahmed in January 2003 over alleged links to Hundi accounts associated with Uttara Group of Industries and Doel Group.
Marketing campaigns
- 2012Union Information and Service Centre mobile-banking initiative
Bangladesh
One Bank partnered with government representatives to establish mobile banking through 4,501 Union Information and Service Centres, connecting its digital-banking ambitions with the national Digital Bangladesh program.
Outcome. The available source confirms the agreement but does not document the initiative’s full rollout, customer reach, or long-term outcome.
Brand decisions
2023
Change legal name to ONE Bank PLCOtherBackground
The institution operated as One Bank Limited before adopting its current public-limited-company name.
Action taken
The bank changed its name to ONE Bank PLC.
Aftermath
The name change established the current legal and brand designation; no change in ownership or business scope is identified in the supplied material.
2021
Reduce chief executive compensationStrategyBackground
The bank reduced executive pay after a decline in profit in 2021.
Action taken
One Bank lowered chief executive compensation.
Aftermath
The source does not state the amount of the reduction or its effect on profitability and governance.
2019
Announce bond issuanceStrategyBackground
The bank pursued an additional funding instrument in the context of its capital and balance-sheet management.
Action taken
One Bank announced plans to issue BDT 4 billion in bonds.
Aftermath
The supplied reference does not establish whether the planned issuance was completed.
Planned bond issue. BDT 4 billion (Announcement in September 2019)
2012
Establish mobile-banking accessProduct launchBackground
The initiative was linked to Bangladesh’s Digital Bangladesh program and its network of local Union Information and Service Centres.
Action taken
One Bank signed an agreement to establish mobile banking at 4,501 Union Information and Service Centres.
Aftermath
The source does not confirm the final scale or continuing operation of the service.
2009
Launch of mutual fundProduct launchBackground
The bank expanded its activities into investment-related services beyond conventional deposits and lending.
Action taken
One Bank launched a mutual fund with a stated value of BDT 1 billion.
Aftermath
No subsequent fund performance or status is reported in the supplied source.
Mutual fund stated size. BDT 1 billion (June 2009)
2008
Increase authorized capitalStrategyBackground
Bangladesh Bank instructed banks to increase their authorized capital, creating a regulatory and capital-planning context for the decision.
Action taken
One Bank decided to raise authorized capital to BDT 5 billion.
Aftermath
The supplied source does not describe the completion of the increase or its effect on the bank’s capital structure.
Authorized capital. BDT 5 billion (Decision announced April 2008)
Sources2 sources
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