Uttara Bank
A long-established private-sector commercial bank headquartered in Dhaka, Bangladesh.
Last updated August 31, 2026
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Overview
Uttara Bank PLC. is a Bangladeshi private-sector commercial bank with roots dating to 1965, when it was established in Dhaka, then part of East Pakistan, as a scheduled bank called Eastern Banking Corporation. Following Bangladesh's independence, the institution was nationalised under the Bangladesh Banks (Nationalisation) Order 1972 and became known as Uttara Bank. It later returned to private ownership and was converted into a private limited bank on 15 September 1983. The bank is headquartered in its own eighteen-storey building at 90 Motijheel Commercial Area, Dhaka, one of the capital's principal business districts. Its domestic network includes roughly 245 branches and 28 sub-branches, with operations organised through regional zones. The bank also operates online branches and authorised dealer branches, supporting both domestic banking and foreign-exchange-related services. Its international reach is primarily delivered through relationships with approximately 600 banks and financial institutions worldwide rather than through a large directly owned overseas branch network. Uttara Bank serves retail customers, businesses, institutional clients and participants in Bangladesh's trade and remittance economy. Its activities include deposit-taking, loans and advances, trade finance, foreign exchange, remittance services, cards, digital banking and other conventional commercial-banking products. The bank has participated in syndicated corporate lending, including a 2007 financing arrangement for Capital Board Mills Limited, illustrating its role in larger industrial and corporate transactions. The institution is publicly traded in Bangladesh and has been subject to corporate-governance changes required by the Bangladesh Securities and Exchange Commission, including the appointment of independent directors in 2008. Its shareholder-return record has included both cash and stock dividends; in 2019 it reported a 7 percent cash dividend and a 23 percent stock dividend. The bank also expanded its physical network during the 2020s, including the opening of a branch in Teknaf, Cox's Bazar District. Uttara Bank has experienced governance and credit-related challenges typical of the Bangladeshi banking sector. In 2016, two bank officials and two businessmen received life sentences in a case involving alleged embezzlement of BDT 40 million. The bank also reported a 26 percent decline in profit for the July-to-September 2022 period. Despite those pressures and broader sector difficulties, the bank has continued operating as a conventional private commercial bank. Its positioning rests on longevity, a substantial domestic branch network, corporate and trade-banking capabilities, and connections to international financial institutions.
History
Uttara Bank's institutional history begins in 1965, when it was created in Dhaka as Eastern Banking Corporation, a scheduled bank operating in what was then East Pakistan. Its location in Motijheel placed it in the principal commercial centre of the territory and later of Bangladesh. The bank's original identity was transformed after the Bangladesh Liberation War. Under the Bangladesh Banks (Nationalisation) Order 1972, the newly independent state's banking system was reorganised and the institution was nationalised and renamed Uttara Bank. The bank subsequently moved back into the private sector. On 15 September 1983 it became a private limited bank, marking a major structural turning point in its development. It later became a listed Bangladeshi banking institution, with shares traded on both the Dhaka Stock Exchange and the Chittagong Stock Exchange. Its publicly held status brought the bank within the country's securities-market and corporate-governance framework. Uttara Bank has maintained a strong physical presence in Bangladesh. Its head office is located in an eighteen-storey building at 90 Motijheel Commercial Area in Dhaka. The bank's domestic infrastructure has expanded to approximately 245 branches and 28 sub-branches, supported by regional zones, online branches and authorised dealer branches. International activity is supported by affiliations with nearly 600 financial institutions around the world, enabling correspondent banking, trade-related payments and other cross-border services. The bank's business has included both ordinary commercial banking and larger corporate transactions. In April 2007, it joined a syndicate led by Dhaka Bank, alongside Premier Bank and AB Bank, to provide BDT 680 million in financing to Capital Board Mills Limited, a subsidiary of Capital Paper and Pulp Industries Limited. This participation illustrated the bank's involvement in industrial lending beyond its branch-based retail operations. Corporate governance became a visible issue in 2008, when Uttara Bank appointed independent directors in response to instructions from the Bangladesh Securities and Exchange Commission. Leadership also changed over time. Md. Mahfuzus Subhan, a retired East Pakistan Civil Service officer, was appointed chairman in December 2003. Later reporting identified Azharul Islam, chairman of Aftab Group, as chairman and Iftekharul Islam, managing director of Aftab Group, as vice-chairman. Md. Abul Hashem was identified as chief executive officer and managing director in 2026. The bank has also faced legal and financial pressures. In April 2016, two bank officials, including a branch manager, and two businessmen were sentenced to life imprisonment in connection with the embezzlement of BDT 40 million. The case forms an important part of the institution's risk and governance history, although the available material does not establish broader conclusions about the bank's overall operations. In 2019, Uttara Bank reported a 7 percent cash dividend and a 23 percent stock dividend. During July-September 2022, its profit fell by 26 percent. At the same time, the bank continued expanding its network, including the opening of its 244th branch in Teknaf, Cox's Bazar District. Uttara Bank remains an active private commercial bank focused on Bangladesh. Its identity is defined by its long operating history, transition from nationalised institution to private listed bank, domestic branch coverage and international correspondent relationships. Its product and service scope spans deposits, lending, trade finance, foreign exchange, remittances and digital banking, including internet banking and the Uttara eWallet service.
- 2026
Md. Abul Hashem appointed CEO and managing director
[1]Md. Abul Hashem was appointed chief executive officer and managing director.
- 2022
Network expanded to Teknaf
[1]The bank opened a branch in Teknaf, Cox's Bazar District, while reporting a 26 percent profit decline for the July-to-September period.
- 2019
Cash and stock dividends reported
[1]Uttara Bank reported a 7 percent cash dividend and a 23 percent stock dividend.
- 2008
Independent directors appointed
[1]The bank appointed independent directors following Bangladesh Securities and Exchange Commission instructions.
- 2007
Participated in major syndicated loan
[1]The bank joined a syndicate arranging BDT 680 million for Capital Board Mills Limited.
- 2003
Md. Mahfuzus Subhan appointed chairman
[1]Md. Mahfuzus Subhan was appointed chairman on 23 December.
- 1983
Returned to private banking
[1]On 15 September, Uttara Bank became a private limited bank.
- 1972
Nationalised and renamed Uttara Bank
[1]Following Bangladesh's independence, the bank was nationalised under the Bangladesh Banks (Nationalisation) Order and renamed Uttara Bank.
- 1965
Eastern Banking Corporation established
[1]The institution was established in Dhaka as Eastern Banking Corporation, a scheduled bank in East Pakistan.
Products and positioning
A long-established Bangladeshi private commercial bank combining a broad domestic branch network with corporate, trade-finance, remittance and correspondent-banking services.
Retail banking
Deposit accounts
Uttara Bank provides conventional deposit products for individuals and organisations, including savings, current and term-deposit accounts. These products support everyday payments, liquidity management and savings, although the available reference material does not specify the full product catalogue or current account terms.
Lending
Corporate and commercial lending
The bank lends to businesses and institutions through ordinary commercial facilities and larger structured or syndicated transactions. Its 2007 participation in a BDT 680 million syndicate for Capital Board Mills demonstrates its involvement in industrial and corporate financing.
Business banking
Trade finance and foreign exchange
Authorised dealer branches and international financial-institution relationships support foreign-exchange transactions, import and export payments, documentary trade services and other cross-border banking requirements.
Digital banking
Digital banking
Uttara Bank operates online branches and provides digital channels that include internet banking and the Uttara eWallet mobile application. The available sources identify these channels but do not provide a complete list of their current functions.
International banking
Remittance and correspondent banking
The bank's network of nearly 600 affiliated financial institutions worldwide supports correspondent banking and international money movement. This infrastructure is relevant to remittances, trade settlements and other cross-border services connected to Bangladesh.
Controversies
Brand decisions
2022
Domestic branch expansionStrategyBackground
The bank continued developing its physical distribution network during a period of pressure in Bangladesh's banking sector.
Action taken
Uttara Bank opened a branch in Teknaf, Cox's Bazar District.
Aftermath
The opening expanded the bank's reported branch network to approximately 244 branches at that point.
2008
Strengthening of board independenceStrategyBackground
Bangladesh's securities regulator instructed the bank to make changes to its board structure.
Action taken
Uttara Bank appointed independent directors.
Aftermath
The change brought the bank's governance structure into closer alignment with regulatory expectations.
2007
Participation in Capital Board Mills syndicated financingOtherBackground
Capital Board Mills Limited required large-scale corporate financing for its industrial business.
Action taken
Uttara Bank joined a syndicate led by Dhaka Bank with Premier Bank and AB Bank to provide BDT 680 million in lending.
Aftermath
The transaction demonstrated Uttara Bank's participation in syndicated corporate and industrial lending.
Syndicated loan amount. BDT 680 million (April 2007)
1983
Conversion into a private limited bankStrategyBackground
After operating as a nationalised bank following Bangladesh's independence, Uttara Bank underwent a change in ownership and institutional form.
Action taken
The institution became a private limited bank on 15 September 1983.
Aftermath
The conversion established the bank's modern private-sector identity and preceded its development as a listed Bangladeshi commercial bank.
Recent events
- 2026
Md. Abul Hashem appointed CEO and managing director[1]
Leadership change
Md. Abul Hashem was appointed chief executive officer and managing director of Uttara Bank.
- 2022
Quarterly profit declines in 2022[1]
Other
Uttara Bank's profit declined by 26 percent during the July-to-September 2022 period amid continuing pressure in Bangladesh's banking sector.
- 2022
New branch opened in Teknaf[1]
Other
The bank expanded its domestic network by opening a branch in Teknaf, Cox's Bazar District.
- 2019
Uttara Bank reports 2019 cash and stock dividends[1]
Other
The bank reported a 7 percent cash dividend and a 23 percent stock dividend for 2019.
- 2008
Independent directors appointed following securities regulator instructions[1]
Regulation
The bank appointed independent directors after instructions from the Bangladesh Securities and Exchange Commission, strengthening its formal corporate-governance structure.
- 2007
Uttara Bank joins syndicated loan for Capital Board Mills[1]
Other
Uttara Bank participated in a syndicate led by Dhaka Bank that arranged a BDT 680 million loan for Capital Board Mills Limited, a subsidiary of Capital Paper and Pulp Industries Limited.
Sources2 sources
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