Sonali Bank was established in 1972 under the Bangladesh Banks (Nationalization) Order, following the nationalization of United Bank Ltd and Union Bank Ltd. Sonali Bank is the leading Government Owned Commercial Bank in Bangladesh . Sonali Bank is the largest commercial bank in Bangladesh with total assets of approximately Taka 271 billion, US$4.49 billion as per the Balance Sheet from December 31, 2002. Sonali Bank accounts for approximately 20% of total banking assets. Sonali Bank is the lone bank in Bangladesh which is the agent of the Central Bank of Bangladesh in areas where the Bank has chosen not to act by itself. The head office of the bank along with its corporate structure is located at Motijheel, Dhaka , the main commercial center of the capital.

• Strengthening and revamping the internal audit function, ensuring that this service reports directly to the Board of Directors, and recommending requisite revisions to operating policies and procedures to improve transparency and checks and balances.
• Assisting the counterpart in upgrading credit policies and procedures and establishing a unit to monitor loan management. Making recommendations on improving procedures, reporting on breaches, and initiating modifications of credit policies and procedures (particularly relating to levels of authorizing sanctions of loans;
• Identifying areas where costs can be cut, staff can be retrenched, branches can be closed or rationalized, and non-performing loans can be reduced.
• Formulating a strategy for recovery of bad debts including setting up a special Workout Unit, working with the government to resolve any public sector default cases, and providing training to staff in the area of debt restructuring, speeding up litigation in case of loans that can not be restructured/rehabilitated or loans involving recalcitrant debtors.
• Developing, policies and procedures for treasury operations including front-office operations (foreign exchange trading, money market trading, debt trading and derivatives trading), middle office operations (risk management, monitoring, control and reporting including asset/liability management), and back office operations (accounting, settlement, and legal documentation).
• Developing and communicating basic strategy to the government, the media and the public.
• Instil a profit oriented atmosphere and a customer service culture that will enable a return to sustained profitability in the shortest possible time.
• Stabilizing the Bank and restoring its financial health to an acceptable level.