Financial Performance Analysis of Sonali Bank Limited Part4

Financial Performance Analysis Of Sonali Bank Limited.(Part-4)

on January 16, 2013 in Economics, Finance

4.4 International Banking

Sonali Bank Limited expertise in International Banking has a record of in-house growth over more than half a century. Its pioneer role in handling foreign trade and foreign exchange transactions ever before independence of the country still remains unchallenged. With wide network of branches at home and also a large number of correspondent banks world-wide it is singularly handling the largest volume of export-import business including home-bound remittances.

Products & Services:

Export Credit (Pre-shipment & Post shipment)

Facilitating Supplier’s Credit

LCs (Letters of Credit)

Guarantees in Foreign Currency

- Bid Bond

- Performance Guarantee

- Advance Payment Guarantee.

Bill Purchasing/Discounting

Remittance, collection, purchases & sales of Foreign Currency & Traveller’s Cheques.

NRAT (Non-Resident Account in Taka)

NFCD A/c (Non-Resident Foreign Currency Deposit)

RFCD A/c (Resident Foreign Currency Deposit)

Convertible and Non-convertible Taka Account

Forward contracts

Correspondent Banking Relations

Import Finance:

Sonali Bank Limited supports its customers by providing facilities throughout the import process to ensure smooth running of their business. The facilities are.

a. Import Letter of Credit.

b. Post Import Financing (LIM,LTR etc).

c. Import collection services & Shipping Guarantees.

Interest Rate: 12% to 14%

Export Finance:

Sonali Bank Limited offers extra cover to its customers for whole export process to speed up receipt of proceeds. The facilities are:

a. Export Letters of Credit advising.

b. Pre-shipment Export Financing.

c. Export documents negotiation.

d. Letter of Credit confirmation.

Interest Rate: 7% + 1% service charge

The comparative position of foreign exchange business for the year 2007 and 2008.

(Tk. in Crore)

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