Uttara Bank PLC
A Bangladeshi private-sector commercial bank serving retail, corporate, trade-finance and related banking customers.
Last updated August 25, 2026
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Overview
Uttara Bank PLC is a Bangladeshi commercial bank and one of the country's older private-sector banking institutions. Its institutional history began in 1965, when it operated in East Pakistan as Eastern Banking Corporation, a scheduled bank headquartered in Motijheel, Dhaka. Following the independence of Bangladesh, the institution was nationalised under the Bangladesh Banks (Nationalisation) Order of 1972 and subsequently operated under the Uttara Bank name. On 15 September 1983, it was converted into a private limited bank, marking the beginning of its modern private-sector identity. The bank is publicly listed in Bangladesh and has been listed on both the Dhaka Stock Exchange and the Chittagong Stock Exchange. Uttara Bank's business covers conventional commercial-banking activities, including retail deposits and lending, corporate and institutional banking, trade finance, remittances, foreign-exchange services, correspondent banking and electronic banking. Its domestic distribution network includes hundreds of branches and sub-branches across Bangladesh, supported by regional zones, online branches and authorised-dealer branches. The bank also maintains relationships with approximately 600 financial institutions internationally, enabling cross-border payments, trade-related transactions and other correspondent services. Its head office is located in an 18-storey bank-owned building in Motijheel, one of Dhaka's principal commercial districts. The bank's history includes periods of institutional restructuring, governance development and expansion. In 2008, it appointed independent directors following instructions from the Bangladesh Securities and Exchange Commission. It has participated in syndicated corporate lending, including a 2007 financing arrangement for Capital Board Mills involving other Bangladeshi banks. Uttara Bank has also distributed dividends to shareholders; in 2019 it reported a 7 percent cash dividend and a 23 percent stock dividend. In 2022, its reported profit declined by 26 percent in the July-to-September period, against a difficult environment for Bangladesh's banking sector. Uttara Bank operates primarily as a domestic Bangladeshi bank rather than as a globally consumer-facing financial brand. Its competitive proposition is based on branch reach, corporate relationships, trade and foreign-exchange capabilities, correspondent links and continuity in the country's banking market. Publicly available reference material describes a network of roughly 243 to 245 domestic branches, 28 sub-branches and nearly 600 overseas financial-institution affiliations; the precise network size may change over time. The bank remains active, but detailed current information on its ownership structure, executive roster, financial performance and digital product portfolio requires verification against current official disclosures.
History
Uttara Bank PLC traces its origins to 1965, when Eastern Banking Corporation was established as a scheduled bank in East Pakistan. The institution's head office was located in Motijheel, Dhaka, a district that remains central to its identity. The bank operated within the financial system of Pakistan until the Bangladesh Liberation War and the creation of Bangladesh. After independence, the new Bangladeshi state nationalised the bank under the Bangladesh Banks (Nationalisation) Order of 1972. It was renamed Uttara Bank and became part of the state-owned banking structure. This period formed the foundation for the institution's later transformation, but its present corporate identity is closely associated with the shift toward private-sector banking in Bangladesh during the 1980s. On 15 September 1983, Uttara Bank became a private limited bank. The conversion made it one of Bangladesh's early private-sector commercial banks and established the organisational framework under which it subsequently expanded its branch network and commercial activities. The bank later became publicly listed, with listings on the Dhaka Stock Exchange and the Chittagong Stock Exchange. As a listed institution, it has had to operate within Bangladesh's securities, banking and corporate-governance framework. Governance changes became more visible during the 2000s. In December 2003, Md. Mahfuzus Subhan, a retired East Pakistan Civil Service officer, was appointed chairman. In 2007, Uttara Bank took part in a BDT 680 million syndicated loan for Capital Board Mills. The transaction, led by Dhaka Bank and involving Premier Bank and AB Bank, illustrated the bank's participation in multi-bank corporate financing rather than only bilateral lending. In 2008, it appointed independent directors in response to instructions from the Bangladesh Securities and Exchange Commission. The bank has also experienced legal and reputational challenges. In April 2016, two bank officials, including a branch manager, and two businessmen were sentenced to life imprisonment in an embezzlement case involving BDT 40 million. The case is part of the broader governance and fraud-risk context facing financial institutions in Bangladesh, although the available reference material does not establish further details about the bank's institutional liability or subsequent recovery process. Uttara Bank continued to develop its shareholder and distribution profile during the late 2010s and early 2020s. In 2019, it announced a 7 percent cash dividend and a 23 percent stock dividend. In 2022, the bank opened its 244th branch at Teknaf in Cox's Bazar District, while reporting a 26 percent decline in profit for the July-to-September quarter. The bank's vice-chairmanship also changed during that period, with Iftekharul Islam of Aftab Group elected vice-chairman. Reference material describes Uttara Bank as operating roughly 245 branches and 28 sub-branches in Bangladesh, organised through twelve regional zones. It also maintains online branches, authorised-dealer branches and relationships with nearly 600 financial institutions worldwide. Its digital presence includes internet banking and the Uttara eWallet application. The head office occupies an 18-storey bank-owned building at 90 Motijheel C/A in Dhaka. The bank remains an active Bangladeshi commercial bank. Its principal role is domestic financial intermediation, supported by corporate lending, retail services, trade finance, foreign exchange and correspondent banking. Because branch counts, executive appointments and financial indicators change, current operational and governance details should be checked against the bank's latest official reports and regulatory filings.
- 2022
Teknaf branch expansion and quarterly profit decline
[1]The bank opened its 244th branch in Teknaf and reported a 26 percent profit decline for July-September.
- 2019
Cash and stock dividends declared
[1]The bank provided a 7 percent cash dividend and a 23 percent stock dividend.
- 2008
Independent directors appointed
[1]The bank appointed independent directors following securities-regulator instructions.
- 2007
Participation in syndicated corporate loan
[1]Uttara Bank joined a BDT 680 million syndication for Capital Board Mills.
- 2003
Md. Mahfuzus Subhan appointed chairman
[1]Md. Mahfuzus Subhan, a retired East Pakistan Civil Service officer, became chairman.
- 1983
Converted into a private limited bank
[1]On 15 September, Uttara Bank entered the private-sector banking system as a private limited bank.
- 1972
Nationalised after Bangladesh independence
[1]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 East Pakistan as Eastern Banking Corporation, a scheduled bank headquartered in Motijheel, Dhaka.
Products and positioning
A long-established Bangladeshi private-sector commercial bank combining nationwide branch distribution with corporate banking, trade finance, foreign-exchange services and international correspondent relationships.
Consumer banking
Retail banking
Uttara Bank's retail business serves individual customers through branch-based deposits, savings products, payments and personal banking services. Public reference material confirms retail banking as a core activity, but does not provide a complete current catalogue of account types, consumer-loan terms or pricing.
Business banking
Corporate banking
Corporate banking supports businesses and institutions through commercial loans, working-capital facilities, relationship banking and syndicated financing. The bank's participation in the Capital Board Mills syndication demonstrates its role in multi-bank corporate credit arrangements.
Transaction banking
Trade finance
Trade-finance services are supported by authorised-dealer branches and the bank's international financial-institution relationships. The activity includes banking support for import and export transactions, foreign-exchange handling and related cross-border settlement, although the available sources do not specify the full product range.
Digital banking
Uttara Bank Internet Banking
The bank provides internet-banking access as part of its digital-services offering. Available reference material identifies the service but does not describe its current functionality, supported transaction types or customer eligibility.
Mobile banking
Uttara eWallet
Uttara eWallet is the bank's named mobile application offering. The reference material confirms the app's existence but does not provide sufficiently detailed information about its features, launch date or present availability.
Controversies
Brand decisions
2022
Expansion of branch network to TeknafStrategyBackground
The bank continued extending its domestic distribution network during a difficult period for Bangladesh's banking sector.
Action taken
Uttara Bank opened its 244th branch in Teknaf, Cox's Bazar District.
Aftermath
The opening increased the bank's physical presence in southeastern Bangladesh.
2008
Adoption of independent-director structureStrategyBackground
Bangladesh's securities regulator instructed listed companies to strengthen board independence.
Action taken
Uttara Bank appointed independent directors.
Aftermath
The appointment aligned the bank's governance structure with applicable securities-regulatory expectations.
2007
Participation in Capital Board Mills syndicationOtherBackground
Capital Board Mills required a large corporate financing package.
Action taken
Uttara Bank joined a syndicate led by Dhaka Bank with Premier Bank and AB Bank for a BDT 680 million loan.
Aftermath
The transaction demonstrated Uttara Bank's participation in syndicated corporate lending.
Syndicated loan amount. BDT 680 million (2007)
1983
Transition to private-sector bankingStrategyBackground
The institution had operated as a nationalised bank after Bangladesh's independence.
Action taken
On 15 September 1983, Uttara Bank was converted into a private limited bank.
Aftermath
The conversion established the modern private-sector structure under which the bank later expanded and became publicly listed.
Recent events
- 2026
Md. Abul Hashem appointed chief executive officer and managing director[1]
Leadership change
Md. Abul Hashem was appointed CEO and managing director of Uttara Bank PLC.
- 2022
Quarterly profit declines and Teknaf branch opens[1]
Leadership change · Other
Uttara Bank reported a 26 percent profit decline for July-September 2022, while it opened its 244th branch in Teknaf, Cox's Bazar District. Iftekharul Islam was also elected vice-chairman.
- 2019
Uttara Bank reports 2019 shareholder dividends[1]
Other
The bank provided shareholders with a 7 percent cash dividend and a 23 percent stock dividend.
- 2008
Independent directors appointed following securities regulator instructions[1]
Regulation
The bank appointed independent directors after instructions from the Bangladesh Securities and Exchange Commission, reflecting a strengthening of listed-company governance requirements.
- 2007
Uttara Bank participates in syndicated financing for Capital Board Mills[1]
Other
Uttara Bank joined a syndicate led by Dhaka Bank, alongside Premier Bank and AB Bank, to provide a BDT 680 million loan to Capital Board Mills, a subsidiary of Capital Paper and Pulp Industries.
Sources1 sources
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