B Mirror Report: Bangladesh Bank (BB) Governor Dr Ahsan H Mansur has stressed the need for a fundamental restructuring of Sonali Bank PLC, urging the state-owned bank to become a fully commercial and profit-driven institution to cope with present economic realities.

Speaking at Sonali Bank’s annual conference at a city convention centre, the Governor said that although Sonali Bank has long enjoyed a leading position, it must now independently meet 100 percent of its capital requirements and comply fully with regulatory frameworks.

Dr Mansur outlined a strategic vision for Sonali Bank to operate either as a wholesale bank or a comprehensive 360-degree banking institution, providing a wide spectrum of financial services.

He observed that while progress has been made, the bank’s commercial activities remain incomplete and must be transformed into fully profit-oriented operations to ensure long-term sustainability.

Emphasising accountability, the Governor instructed the bank to fulfil all capital adequacy and professional standards necessary for securing its future.

He also pointed out that officials at the grassroots level play a critical role in selecting appropriate clients to prevent loans from turning into non-performing assets.

The Governor advised the bank to prioritise productive sectors, particularly ultra-micro, small and medium enterprises (SMEs), instead of concentrating solely on large borrowers.

Referring to recent financial pressures, Dr Mansur commended Sonali Bank for its strong performance during the global dollar shortage, noting that it extended liquidity support to other banks that were unable to source funds.

To reinforce the national economy, he directed the bank to boost remittance inflows and export earnings, expand debit card operations and digital service outreach, and increase revenue through export-import commissions and diversified collection services.

He acknowledged that lending restrictions had earlier been imposed by the government due to recovery risks, but called for a careful yet courageous approach in exploring new investment avenues to protect and sustain the bank’s achievements.

In his concluding remarks, the Governor urged Sonali Bank’s management and employees to work with honesty and commitment, expressing hope that every staff member would feel proud to serve the institution and contribute to taking Sonali Bank to greater heights by the end of their professional careers.