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Financial performance evaluation of Sonali Bank Limited
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Chapter One
Introduction
Financial Performance Evaluation of Sonali Bank Limited, Comilla University Page | 1

CHAPTER-ONE
INTRODUCTION
1.1 Introduction of the report
The word “Bank” represents a financial institution which deals with money. Banking has a
very long and rich history. It started as a result of people’s need and it has been playing an
important role in fulfilling the financial needs of all sorts of people. This banking activity is
regulated by banking act 1991.The money that receives as safekeeping bank may give loans to
customers for a legal understanding with interest. The bank offers so many diverse alternatives
to their customers so that the customer gets interested to having an account with a certain bank.
Mainly we have seen some different types of banks like; Central Banks, Commercial Banks,
Investment Banks, Industrial Banks, Co-operative Banks etc.
Today, the business world is considered to be a competitive world where a single mistake can
bring a great loss in the organization or may shutdown business forever. Yes, our era is an era
of globalization where business is getting more and more innovation through product and
strategy development. To sustain in the competition, Business organizations are finding
thousands of paths for business innovation. As a student, we have no any practical knowledge
about business arena. Internship program is a program where both theoretical and practical
knowledge is possible to learn through real business situation. I really get a great opportunity
to learn some practical knowledge being an internee in Sonali bank ltd,Comilla branch,
Cumilla. This branch is specially related to the regional development for business, industry,
agriculture and governments deference sectors. My report is on “Financial Performance
Analysis of Sonali bank ltd.” By different ratio analysis I tried to show financial performance
analysis over the last 5 years.
1.2 Background of the Study
Financial Statement Analysis is a method used by interested parties such as investors, creditors,
and management to evaluate the past, current, and projected conditions and performance of the
firm. Ratio analysis is the most common form of financial analysis. It provides relative
measures of the firm's conditions and performance. Horizontal Analysis and Vertical Analysis
are also popular forms. Horizontal analysis is used to evaluate the trend in the accounts over

the years, while vertical analysis, also called a Common Size Financial Statement discloses the
internal structure of the firm. It indicates the existing relationship between sales and each
income statement account. It shows the mix of assets that produce income and the mix of the
sources of capital, whether by current or long-term debt or by equity funding. When using the
financial ratios, a financial analyst makes two types of comparisons. Financial ratio analysis is
an important topic and is covered in all mainstream corporate finance textbooks. It is also a
popular agenda item in investment club meetings. It is widely used to summarize the
information in a company's financial statements in assessing its financial health. In today's
information technology world, real time financial data are readily available via the Internet.
However, through financial ratio analysis, we shall be able to work with these numbers in an
organized fashion and present them in a concise form easily understandable to both the
management and interested investors.
1.3 Methodology of the study:
This study is based on systematic procedure from the collection of raw data to the preparation
of final report. For the execution of study, the sources are identified and collected with
maintaining the rules and regulations of banking act. Then, the work of classification, analysis,
systematic organization has been made. The overall process of methodology has been given as
below:
Selection of the data:
The information was collected properly to organize this report is both from primary and
secondary sources.
Primary Sources of Data:
• Oral conversation with employees and officers of the banks.

• Practical and manual experience gained by working different desks during internship
period.
• Oral conversation with the new and prospective clients.
• Interview

Secondary Sources of Data:
• Five years Annual Reports of Sonali Bank Ltd.

• Official Records of Sonali Bank Ltd.
• Web site of the Sonali Bank Ltd.
• Collections Prior research reports
• Different text book and journals
• Various reports and articles related to study
• Some of my course elements as related to this report
Data sources identification: Both primary and secondary data sources were identified that
are needed to carry on the study and complete this report
1.4.Significance of the project

Financial statements provide an overview of a business' financial condition in both short and
long term. All the relevant financial information of a business enterprise presented in a
structured manner and in a form easy to understand, is called the financial statements.
Therefore, these financial statements are very useful for the stake holder, as they obtain all
insight information. In assessing the significance of various financial data, experts engage in
ratio analyses, the process of determining and evaluating financial ratios. A financial ratio is a
relationship that indicates something about a company's activities, such as the ratio between
the company's current assets, current liabilities or between its accounts receivable and its
annual sales. The basic source for these ratios is the company's financial statements that contain
figures on assets, liabilities, profits, or losses. Financial ratios are on meaningful when
compared with other information. Since they are most often compared with industry data, ratios
help an individual understand a company's performance relative to that of competitors; they
are often used to trace performance over time.
Ratio analysis can reveal much about a company and its operations. However, there are several
points to keep in mind about ratios. First, financial statement ratios are "flags “indicating areas
of strength or weakness. One or even several ratios might be misleading, but when combined
with other knowledge of a company's management and economic circumstances, ratio analysis
can tell much about a corporation. Second, there is no single correct value for a ratio. The
observation that the value of a particular ratio is too high, too low, or just right depends on the

perspective of the analyst and on the company's competitive strategy. Third, a ratio is
meaningful only when it is compared with some standard, such as an industry trend, ratio trend,
a ratio trend for the specific company being analyzed, or a stated management objective.
1.5 Scope of the study:
This report will screen an organization in a general way of Sonali Bank Limited. It will send
wide view of the several stages. I tried to exhibit the analysis by way of individual graphs and
charts through movement and ratio analysis based on over five years performance. Findings
and applicable tips are made primarily based on that analysis. To keep way from complexity
some overall performance variables are taken into consideration while analyzing performance.
The study would focus on the following fields the three major financial tools of Sonali Bank
Limited.
1. Ratio Analysis
2. Trend Analysis
3. Common Size Analysis.
1.6 Research Question:-
The research question specify exactly what is to be investigate by research. In addressing the
research Problem two primary research question will have to be addressed. These are:-
I. What are the role played by the financial statement analysis on overall profitability
which factor affecting on their performance evaluation as a indicators.
1.7. Objective of the Study:

The objective of the study is to gather practice of all knowledge regarding business sector and
operations. Theory classes of B.B.A provide us theories regarding business sector and practical
orientation gives us the chance of view those systems and their operations. More precisely we
can identify those objectives
1.7.1.General Objective
"The general objective of this report is-“To explore Financial Performance of Sonali Bank
Ltd.”.

1.7.2Specific Objectives
Specific objectives of this report are -
➢ To evaluate the financial operations & performance of Sonali Bank Limited.

➢ To understand and analyse the financial strength of Sonali Bank Limited.
➢ To identify the problems related with financial performance of Sonali Bank Ltd.
➢ To make some recommendations to solve the all these problems.

Chapter two
LITERATURE OF THE
REVIEW

CHAPTER-TWO
LITERATURE OF THE REVIEW
Literature review: Many researches have been conducted to measure the corporate disclosure of
financial as well as non-financial companies. Generally, the financial performance of banks and
other financial institutions has been measured using a combination of financial ratios analysis,
bench marking, measuring performance against budget or a mix of these methodologies (Avkiran,
1995). (Spathis, and Doumpos, 2002) investigated the effectiveness of the financial position of
Greek banks based on their assets size. They used several criteria in their study to classify Greek
banks according to the return and operational factors. They tried to show the differences of the
bank’s profitability and efficiency between small and large banks.A research paper in the title of
efficiency about customer service and financing performance among Australian financial
institutions (Elizabeth Duncan, and Elliott, 2004) showed that all financial performance measures
as interest margin, return on assets, and capital adequacy are positively correlated with customer
service quality scores. Bakar and Tahir (2009) in their research paper used multiple analysis of
linear regression technique and simulated neural network techniques for predicting bank
performance. ROA was used as dependent variable of bank performance and seven variables
including liquidity, credit risk, cost to income ratio, size and concentration ratio, were used as
independent variables.O’Donnell and Van der Westhuizen (2002) measured the efficiency of a
South African bank at branch level. Their main focus was investigating branches which were
performing well and those that were doing badly, where efficiency could be improved. They found
that many branches were operating on a scale that is too small and could increase their operational
scales thereby improving the overall efficiency of the bank.But the empirical results of the
researches (Raza et al., 2011; Tarawneh, 2006) explained that a company, which has better
efficiency, it does not mean that always it will show the better effectiveness.However, the literature
concerning the asset and liability management for banks strongly suggests that risk management
issues and its implications must be concentrated by the banking industry. (Jon R.Presely, 1992)
concluded from his study that there is a need for greater risk management in relation to more
effective portfolio management, and this requires a greater emphasis upon the nature of risk and

return in bank asset structure, and greater diversification of assets in order to spread and reduce
the bank's risks.Furthermore, Ho and Zhu (2004) have reported that the evaluation of a company’s
performance has been focusing the operational effectiveness and efficiency, which might influence
the company’s survival directly.Finally, the performance analysis is a way to measure a company’s
overall financial performance by different ratios that reflects company’s financial position. The
analysis provides an idea about company’s operating efficiency and future prospects. For financial
performance analysis, liquidity, profitability, activity and debt ratios are common. Ratios are key
indicator that the performance of a company is poor or well

Chapter Three
COMPANY PROFILE

CHAPTER-THREE
COMPANY PROFILE
3.1: Background of Sonali Bank Limited:
Sonali Bank is a state-owned commercial bank in Bangladesh. It is the largest bank of the country
a fully state-owned enterprise, the bank has been discharging its nation building responsibilities
by undertaking government entrusted different socioeconomic schemes as well as money market
activities of its own volition, covering all spheres of the economy. Sonali Bank Limited singularly
enjoys the prestige of being the agent of the Central Bank of Bangladesh in such places where the
guardian of the money market has chosen not to act by itself.
3.2 History of Sonali bank Limited:
Sonali Bank Limited is a state-owned leading commercial bank in Bangladesh. It is the largest
bank of the country.
Sonali Bank was established in 1972 under the Bangladesh Banks (Nationalization) Order, through
the amalgamation and nationalization of the branches of National Bank of Pakistan, Bank of
Baha'ullah and Premier Bank branches located in Pakistan until the 1971 Bangladesh Liberation
War. When it was established, Sonali Bank had a paid-up capital of 30 million taka. In 2001, it’s
authorized and paid-up capital were Taka 10 billion and Taka 3.272 billion respectively. Presently,
it’s authorized and paid-up capital is Taka 10 billion and Taka 9 billion respectively. The bank's
reserve funds were Taka 60 million in 1979 and Taka 2.050 billion on 30 June 2000 The bank has
been converted to a Public Limited Company with 100% ownership of the government and started
functioning as Sonali Bank Limited from November 15, 2007 taking over all assets, liabilities and
business of Sonali Bank. After corporatization, the management of the bank has been given
required autonomy to make the bank competitive & to run its business effectively.
During 2013, $250,000 was stolen from the bank by Cyber criminals using the Swift International
payments network. In 2016, the Bank signed a legal Memorandum of Understanding with PayPal.

Sonali Bank has a total of 1211 branches. Out of them, 343 are located in urban areas, 862 in rural
areas, and 2 are located overseas. It also operates the Sonali Exchange Company Inc. in USA and
Sonali Bank (UK) Ltd., United Kingdom, to facilitate foreign exchange remittances. Sonali Bank
UK remits up to 14 destinations across Bangladesh directly, these include Dhaka, Chittagong,
Sylhet, Moulvibazar, Beanibazar, Balaganj, Biswanath, Jagannathpur, Sunamganj, Gopalganj,
Nabigonj, Hobigonj, and Kulauraor Tajpur. There are currently three branches in the UK, one
located in Osborn Street, London, another in Small Heath; Birmingham and in Manchester.
Sonali bank Limited is governed by a Board of Directors consisting of 11 members. It is headed

by the Managing Directors & CEO, who is a well –known Banker and a reputed professional. The
corporate head quarter of the bank is located at Motijheel, Dhaka, Bangladesh. The main
commercial center of the capital.

3.3 Corporate Profile of Sonali Bank Limited

3.4.Organogram of Sonali Bank Limited

3.5. Management Hierarchy of Sonali Bank Limited:
Chairman
↓
Board of Directors (BOD)
↓
Managing Directors (MD)
↓
Deputy Managing Directors (DMD)
↓
General Manager (GM)
↓
Deputy General Manager (DGM)

↓
Assistant General Manager (AGM)
↓
Senior Executive Officer (SEO)
↓
Executive Officer (EO)
↓
Officer
Figure: Management Hierarchy of SBL

3.6.Values of Sonali Bank Limited
Professionalizm
Integrity Growth
Core values of
Sonali Bank Ltd
Accountability Diversity
Dignity
3.7. Vision of Sonali Bank Ltd:

Socially committed leading banking institution with global presence.
3.8. Mission of Sonali Bank Ltd:
Dedicated to extend a whole range of quality product that support divergent needs of people aiming
at enriching their lives, creating value for stakeholders and contributing toward socio –economic
development of the country.
3.9. Slogan:
Your trusted partner in innovative banking.

3.10. Objectives of Sonali Bank:
Sonali Bank has a various type of Objectives. Important objectives of Sonali Bank are as follows:
1. To collect of deposits
2. To alleviate poverty
3. To secure deposit
4. To inspire savings
5. To create employment
6. To control loan
7. To create medium of exchange
8. To expand trade and commerce

9. To helps in industrialization
10. To increase the capital formation
11. To provide the customer’s service
12. To earn profit
13. To ensure Regional Development
Without those objectives, there are some others too. The bank is responsible to provide all types
of banking services to the door steps of people. The bank participates in various socio-economic
development activities and also takes part in implementation of various polities and program made
by government. As the largest state oriented and professional managed leading bank of the country.
3.11. Small & Medium Enterprise (SME)
Sonali Bank Limited emphasizes highest priority on SME financing for eliminating poverty by
increasing SME loan flow at economically underdeveloped area & people setting up priority base
SME credit policy for women & underprivileged entrepreneurs. Sonali Bank is working for the
improvement of their socio – economic condition.

3.12. Products of the Bank
• Deposit Products
• Credit Products
• E- services
• Rural Credits
• Ready Cash
3.13. Ancillary services:
• Gas bills
• Electricity bills.
• Municipal holding Tax.
• Passport fees, visa fees
• Customs & Excise duties.
• Source tax and VAT.
• Jakat fund.
• Hajj deposit
3.14. Strategic significance of Sonali bank:
As a commercial bank, Sonali Bank has some core responsibilities towards customers,
management, shareholders and other business organizations. The bank is responsible for sound
customer satisfaction through quality and timely services. Like every commercial bank this bank
has some common goals to be met. In the present world, security is a common talk in wealth

preservation .This bank helps clients securitize their wealth through secure banking system. Sonali
Bank helps the regional development of Bangladesh by the expansion of loan portfolio to the
business, agro-sectors, industry. A unique feature of sonali bank is that it works in favor of
Bangladesh bank by settling commercial transactions among commercial bank known as clearing
house. It has expanded its online services maintaining competition with others commercial banks
such online checking customers account, issuing visa and master card to support online
transactions, online settlement of customers account etc. The bank does some social services to
create positive image in the country such as acceptance of scraped money, providing scholarship
facility to meritorious students. Finally, the bank is serving society and more responsive to the
environment through innovation and challenges
3.15. Nature of Business:

The principle activities of the bank include providing of all kinds of commercial banking services
to its customers. The activities can be classified in the following ways:
➢ Corporate Banking.
➢ Project Financing.
➢ SME Finance.
➢ Consumer Credit.
➢ International Trade.
➢ Trade Finance.
➢ Loan Syndication
➢ Foreign Exchange Dealing.
➢ Rural and Micro Credit.
➢ NGO- Linkage Loan.
➢ Investment.
➢ Government Treasury Function.
➢ Money Market Operation.
➢ Capital Market Operation

3.16. Core Strengths
• Transparent and Quick Decision Making.

• Efficient Team of Performer.
• Satisfied Customers.
• Internal Control.
• Skilled Risk Management.
• Diversification.
3.17. Core Competencies:
▪ Knowledge
▪ Experience & Expertise.
▪ Customer Orientation/ Focus.
▪ Transparency.
▪ Determination.
▪ Zeal for Improvement.

▪ Reliability.
3.18. Corporate social responsibility (CSR):

Sonali Bank Limited (SBL) has been rendering various services for attaining greater social goals
and objectives. For this process, we aim to contribute towards sustainable development of the
society as a whole and fulfillment of corporate social obligation in particular. To reinforce CSR
activities, the bank has undertaken fresh initiatives in line with Bangladesh Bank guidelines in the
areas of social services, empowerment of women and poor, sports & culture, banking for the
disadvantaged groups, disaster & relief activities.
Social Services:
SBL has been rendering social services through distribution of various allowances to the Freedom
Fighters, Widows, Old–age citizens, vulnerable groups, Disabled peoples etc. as per laid down
criteria of the government. Besides, the bank has been disbursing pension of govt. employees,
monthly salary of teachers, and govt. and semi govt. officials without charges.

Empowerment of women and poor:
SBL has been providing wholesale credit facilities to different micro credit institution who are in
turn lending amongst the women and poor people in different Income Generating Activities (IGA).
Sports and Cultural Activities:

Sonali Bank Limited has a tradition of patronizing and sponsoring sports and cultural activities at
home and abroad. In 2007, Sonali Bank Limited became Champion in the Victory Day Hockey
Tournament and Runners’ up in the Office Hockey League, Dhaka.
Banking service for the Disadvantaged Groups:

With 1215 branches all over Bangladesh, SBL could reach the banking services to the
disadvantaged groups with the aim to encourage them in mobilization of their hard-earned savings
and creation for them investment opportunities.
Employee welfare:
SBL offers annual stipends and scholarships to the brilliant children of the employees of the bank.
Disaster Relief:
SBL always stands beside the helpless people at the times of natural calamities and extends helping
hands to the sufferers. SBL donated Tk. 10.5 million to help the victims of cyclone ‘Sidor’ to the
relief fund of the Chief Advisor. Sonali Bank Limited has collected funds from Bangladeshis
residing abroad and remitted over Tk. 150 million at free of charge through Sonali Exchange
Company (SECI), USA and Sonali Bank (UK) Limited. SBL has also donated to establish a Cancer
Hospital in Dhaka. It has helped a number of Foundations and Organizations for raising
fundsthrough lottery and other means.
Future Plan:
SBL will continue to patronize sports and culture at home and abroad. Arrangements will be made
for rendering better social services to the community apart from core banking activities. Specific
action plans will be initiated to expand CSR programs in line with the guidelines of Bangladesh
Bank and Securities & Exchange Commission (SEC)

Chapter Four
FINANCIAL PERFORMANC
EVALUATION

CHAPTER-FOUR
FINANCIAL PERFORMANCE
EVALUATION
4.1.Individual ROE of different bank:
year sonali bank ltd Bangladesh Development Bank Agrani Bank Limited Basic Bank Limited Janata Bank Limited
2012 -62.36 5.33 -254.94 0.433 -49.74
2013 9.89 6.19 25.39 -8.8 30.09
2014 11.05 6.44 5.02 -8 9.66
2015 0.99 2.88 1.46 -12 9.7
2016 2.18 2.1 -19.06 -131 5.22
2017 10.63 3.04 16.59 -49.21 5.23
2018 3.32 3.98 2.49 -34.09 0.46
2019 3.92 0.34 2.53 -46.65 0.49
2020 0.28 0.28 0.28 0.28 0.28
Table: 4.1
Graphical presentation:
Chart Title
40
20
Axis Title
0
-20
-40
-60
-80
-100
-120
-140
2012 2013 2014 2015 2016 2017 2018 2019 2020
sonali bank ltd -62.36 9.89 11.05 0.99 2.18 10.63 3.32 3.92 0.28
Bangladesh Development Bank 5.33 6.19 6.44 2.88 2.1 3.04 3.98 0.34 0.28
Agrani Bank Limited 25.39 5.02 1.46 -19.06 16.59 2.49 2.53 0.28
Basic Bank Limited 0.433 -8.8 -8 -12 -131 -49.21 -34.09 -46.65 0.28
Janata Bank Limited -49.74 30.09 9.66 9.7 5.22 5.23 0.46 0.49 0.28

4.2.Individual NPL of different bank:
YEAR Sonali Bank Limited Bangladesh Development Bank Agrani Bank Limited Basic Bank Limited Janata Bank Limited
2011 17.8 38.28 11.07 30.5 5.83
2012 33.31 42.99 25.3 30.86 17.42
2013 30.21 40 17.93 36.75 11.12
2014 25.61 38.32 16.96 31.81 11.69
2015 25.08 45.18 18.96 38.29 12.34
2016 28.37 49.58 25.59 40.48 14.73
2017 35.28 46.53 17.45 46.07 16.54
2018 26.26 46.07 17.67 46.53 33.72
2019 20.32 38.34 14.26 47.45 26.63
2020 18.37 28.01 12.46 47.76 22.69
Table:4.2
60
49.58 46.53
50 45.18 46.07
46.07 46.53 47.45 47.76
40.48 38.34
40 38.29 35.28
28.37 26.26 33.72 28.01
30 25.08 25.59
20.32 26.63
18.96 17.45 17.67 18.37 22.69
20 14.26
16.54 12.46
14.73
10 12.34
0
2015 2016 2017 2018 2019 2020
Sonali Bank Limited Bangladesh Development Bank

Agrani Bank Limited Basic Bank Limited
Janata Bank Limited

4.3. Liquidity Ratio Analysis:
(a) Current ratio:
The current ratio, one of the most commonly cited financial ratios, measures the firm’s ability to
meet its short term obligations. The higher the current ratio, the better the liquidity position of the
firm. It is expressed as: “Current Ratio=Current Asset/Current Liabilities”.
YEAR 2013 2014 2015 2016 2017 2018 2019 2020 2021
CURRENT 2 1.83 1.86 1.46 1.67 1.58 1.87 1.89 1.93
RATIO
Table :4.3
SONALI BANK LTD(CURRENT RATIO)

Sonali bank ltd(Current ratio)
2.5
2 1.89
1.83 1.86 1.87
2 1.67 1.58
1.46
Axis Title
1.5
0.5
0
2013 2014 2015 2016 2017 2018 2019 2020
Axis Title
Figure-1: Current Ratio
Interpretation: The higher the current ratio; the more liquid the firm is considered to be. SBL’s
current ratio is good enough because it maintains more than 1 tk current assets against 1tk current
liabilities whereas normally banking industry maintains 1: 1 current ratio. This graph shows that,
the current ratio in 2016 is low. In 2013, the ratio is so higher than 10 financial year but decreased
to 1.46 in 2016. The ratio is good but somewhat worse performance than previous year’s
performance

(B)NET WORKING CAPITAL
Net working capital, although not actually a ratio is a common measure of a firm’s overall
Liquidity a measure of liquidity ratio calculated by “Net Working capital=Current Asset
Current Liabilities”.
YEAR 2012 2013 2014 2015 2016 2017 2018 2019 2020
NET 61798 152912 143848 170775 122847 152292 150987 161267 131246
WORKING
CAPITAL
Table :4.4
SONALI BANK LTD

170775 Sonali bank ltd
180000 161267
152912 152292 150987
160000 143848
131246
140000 122847
120000
100000
80000 61798
60000
40000
20000
0
2012 2013 2014 2015 2016 2017 2018 2019 2020
Interpretation: Net working capital of SBL gradually decreasing in Year by Year However, the
bank cannot able to meet up its current obligations. So the Bank should increase its Current asset.

(c). Cash Ratio: It is the ratio of a company’s total cash and cash equivalents to its current
liabilities. The cash ratio is most commonly used as a measure of company liquidity. It can
therefore determine if, and how quickly, the company can repay its short-term debt. A strong cash
ratio is useful to creditors when deciding how much debt, if any, they would be willing to extend
to the asking party. The ratio is calculated by “Cash ratio = Cash in hand at banks/Total deposit x
100”.
Year 2012 2013 2014 2015 2016 2017 2017 2018 2019
CASH RATIO 7.75% 8% 6.7% 7.15% 7% 7.28% 8.2% 7.9% 7.32%
Table :4.5
SONALI BANK LTD (CASH RATIO)

9 8 8.2
7.75
8 7.15 7 7.28 7.32
6.7
7
6
Axis Title
5
4
3
2
1
0
2012 2013 2014 2015 2016 2017 2018 2019
Axis Title

4.5. Profitability Ratios:
(a). Operating profit per branch:
Profit per branch is also a good indicator of the financial performance of the bank. Sonali Bank is
expanding its branch year by year to innovate banking industry and to reach the core areas of home
country for providing banking services. The ratio is “Operating Profit per branch= Total
operating profit/No of branches”.
Year 2012 2013 2014 2015 2016 2017 2018 2019 2020
Operating profit per 11036 2971 8547 8651 4251 11955 20257 17100 21527
branch (in million)
Table 4.6
Sonali bank ltd
21527
20257
operating profit
17100
11955
11036
8547 8651
2971 4251
2012 2013 2014 2015 2016 2017 2018 2019 2020

Axis Title
Sonali bank ltd
Interpretation: The operating profit is not the financial indicator because the banks are increasing
year to year. Last year 2 branches were increased without any contribution to profit. But it is a
good indicatorthat the profit figure is positive on an average per branch but there actually losses
for too many branches.

(b). Net Profit Margin: The net profit margin measures the percentage of each sales dollar remaining
after all operating expenses, VAT, preferred dividends and interest. The higher the firm’s net profit
margin, the better the financial condition of Bank. The net profit margin is a commonly cited
measure of the company’s success with respect to earnings on sales. Ratio is “Net Profit
Margin=Net profit after tax/operating income”.
Year 2012 2013 2014 2015 2016 2017 2018 2019 2020
net profit (24959) 3580 6054 586 1516 7092 2264 2710 3234
margin(in
million )
Table 4.7
Sonali bank ltd
7092
6054
Axis Title
3580 3457
3234
2710
2264
586 1516
2013 2014 2015 2016 2017 2018 2019 2020 2021
Sonali bank ltd 3580 6054 586 1516 7092 2264 2710 3234 3457
Axis Title
Sonali bank ltd
Interpretation: The Bank net profit margin in 2015 is lowest profit.But in 2017 SBL recovered
from worst situation and then slight increased but sharply decreased in 2018. The last year’s
position was positive and good.

(c). Return on Asset (ROA): The return on asset (ROA), which is often called the firm’s return
on total assets, measures the overall effectiveness of management in generating profits with its
available assets. The higher the ratio, the better. The formula is “Return on Asset (ROA) =Net
Profit after tax/Total Asset x 100”
Year 2012 2013 2014 2015 2016 2017 2018 2019 2020
ROA (2.85%) .45% .68% .06% .14% .58% .18% .20% .21%
Table 4.8
Sonali bank ltd(ROA)
1.00%
0.50%
0.00%
2012 2013 2014 2015 2016 2017 2018 2019 2020
-0.50%
-1.00%
-1.50%
-2.00%
-2.50%
-3.00%
Sonali bank ltd(ROA)
Interpretation: The bank’s return on asset was strongly negtive in 2012 but sharply increase in
2013 and recovered somewhat in 2014. In 2015, it was lowest but increased in the last year. The
positive figure (ROA) indicates that the Bank is performing well. We can notice that performance

is positive but not as like as 2012. A slight increase in ROA brings hope that the Bank’s
performance is going to be well in near future.
(d). Return on Equity (ROE): The return on equity measures the return earned on the common
stockholders’ investment in the firm. Generally, the higher this return, the better off the owners
are. Return on Equity is calculated by, “Return on Equity=Net Profit after Tax/ Shareholders
equity x 100”
Year 2012 2013 2014 2015 2016 2017 2018 2019 2020
ROE (62.36%) 9.89% 11.05% .99% 2.18% 10.36% 3.32% 3.92% 4.21%
Table 4.9
Graphical presentation
ROE
9.89% 11.05% 0.99% 2.18% 10.36% 3.32% 2.9… 4.…
SONALI BANK LTD (ROE)
-63.36%
2012 2013 2014 2015 2016 2017 2018 2019 2020
Interpretation: The banks return on equity recovered from the worst situation in 2012 to 2014.
In 2015 the ratio decreased to .82% only but increased in 2016 .The fluctuation of ratio indicates
management inefficiency. So, they should be attentive about shareholders wealth. They should
work hard to increase the return associated with equity.

(e). Earnings per Share: The firm’s earning per share (EPS) generally represents earning of
shareholders on their respective shares. The Earning per share represent the number of dollars
earned on behalf of each outstanding share of common stock. The higher the earnings, the better
the financial position. The earnings per share is calculated as follows: “Earnings per Share
=Earnings available for common stock holder/No of shares of common stock outstanding”
Year 2013 2014 2015 2016 2017 2018 2019 2020 2021
EPS 31.82 32.12 1.53 3.96 18.50 5.47 5.98 7.14 7.63
Table 4.10
EPS
31.82 32.12
18.5
1.53 3.96 5.57 5.98 7.14 7.63

2013 2014 2015 2016 2017 2018 2019 2020 2021
EPS 31.82 32.12 1.53 3.96 18.5 5.57 5.98 7.14 7.63
EPS
Interpretation: The graph shows that, in 2014 earnings per share of SBL’s is highest positive than
next 7 years. But in 2013 the ratio was so good but a gradual decrease is the main concern for the
2015. Net profit margin reduction that means bank’s operating result is decreasing. A slight
increase in 2016 proves that management is trying to overcome with the operating efficiency.

(g). No. of Loss Branches:
The branches of sonali bank are increasing year to year. In 2012, there were 1200 branches but
over 5 years they increased to 12011. The number of loss branches are as below:-
Year 2012 2013 2014 2015 2016 2017 2018 2019 2020
Nb. Of 1200 1203 1204 1207 1209 1211 1215 1224 1226
branches
Table 4.11
SONALI BANK LTD (NB OF BRANCHES)

Sonali bank ltd (nb of Branches)
1230 1226
1224
1225
1220
1215
1215 1211
1209
1210 1207
1203 1204
1205
1200
1200
1195
1190
1185
2012 2013 2014 2015 2016 2017 2018 2019 2020
Interpretation: The branch is increasing that’s no problem but the numbers of loss branch is
increasing that’s the main problem. From the 2012 the number of loss branches decreased to 2014
but after that the sharp increase of loss branches is the main concern of SBL shareholders. The
overall profit did not decrease respectively with regard to the no. of loss branches, because the
profit of some branches are so much enough to recover the loss branches.

4.5.Summary of the financial ratio
Perticular 2013 2014 2015 2016 2017 2018 2019 2020 2021
Current ratio 2 1.83 1.86 1.46 1.67 1.58 1.87 1.89 1.93
CASH RATIO 7.75% 8% 6.70% 7.15% 7% 7.28% 8.20% 7.90% 7.32%
ROA -2.85% 0.45% 0.68% 0.06% 0.14% 0.58% 0.18% 0.20% 0.21%
ROE -62.36% 9.89% 11.05% 0.99% 2.18% 10.36% 3.32% 3.92% 4.21%
EPS 31.82 32.12 1.53 3.96 18.5 5.47 5.98 7.14 7.63
Nb. Of
1200 1203 1204 1207 1209 1211 1215 1224 1226
branches
Table 4.12

Chapter Five
RESEARCH
METHODOLOGY

CHAPTER-FIVE
RESEARCH METHODOLOGY
This chapter has covered the issues that are needed to design for colleting the information of the
study. This study comprises the research method and sources of data which were used for the
research.
5.1: Study Area

Sonali Bank Limited will be considered to be the study area.
5.2: Research type

We will follow quantitative approach to achieve the objectives of the study. Different statistical
tools and related data will be used in the analysis and presentation of data through the report. We
have used quantitative approach in this study to estimate and measure the variables.
5.3: Research Period

In this study total 10 years data of Sonali Bank Limited have been applied.
5.4: Variables Covered
In this study two types of variables have been used which are:
Dependent Variable Independent Variables
Return on Asset(ROA) CAR=Capital adequacy ratio
Return on Equity (ROE) NPL=Non-Performing Loan
TAN=Tangibility
LIQ=liquidity

5.5: Sources of Data:
Maximum data will be collected from secondary data. The sources of data are:
❖ Annual report of SBL,
❖ Website,
❖ Articles and journals.
5.6: Data Tabulation

❖ M.S. Excel
❖ M.S. Word
5.7: Data Analysis Process:

All the selected data will be analyzed by using different statistical tools (Mean, Standard
Deviation, Coefficient, ANOVAs, Model Summary, Coefficient analysis, Regression Statistics,
Collinearity Diagnostics) by using SPSS software.
5.8:Data Analysis
Hypothesis1:
a. Dependent Variable: ROE
b. Predictors: (Constant), CAR, NPL, TAN, LIQ
Regression Statistics
Multiple R .828
R Square .686
Adjusted R .372
Square
Standard Error 3.04557
Observations 9

Coefficient analysis:
Coefficients Standard Error t-stat P-value/

significant
(Constant) 22.679 24.476 .927 .407

CDR .032 .094 .336 .753
NPL .027 .125 .214 .841
LIQ -.356 .334 -1.067 .346
Model Summary
Model R R Adjusted R Std. Error of Change Statistics
Square Square the Estimate R Square F Change df1 df2 Sig. F
Change Change
1 .82 .686 .372 3.04557 .686 2.183 4 4 .234
8a
a. Predictors: (Constant), CAR, NPL, TAN, LIQ
b. Dependent Variable: ROE
ANOVA
Model Sum of df Mean Square F Sig.
Squares
1 Regression 81.002 4 20.251 2.183 .234b
Residual 37.102 4 9.275
Total 118.104 8


Coefficients
Model Unstandardized Standardized t Sig. Correlations Collinearity
Coefficients Coefficients Statistics
B Std. Beta Zero- Partia Part Tole VIF
Error order l ranc
e
1 (Constan) -56.969 24.447 -2.330 .080
LIQ 18.689 8.440 .867 2.214 .091 .245 .742 .621 .513 1.9
50
TAN -.950 2.098 -.160 -.453 .674 .367 -.221 -.127 .625 1.5
99
NPL .671 .269 1.013 2.491 .067 .505 .780 .698 .475 2.1
07
CAR 1.471 1.040 .449 1.414 .230 .046 .577 .396 .779 1.2
83
Collinearity Diagnostics
Moel Dimension Eigenvalue Condition Variance Proportions

Index (Constant) LIQ TAN NPL CAR
1 1 4.910 1.000 .00 .00 .00 .00 .00
2 .048 10.106 .00 .01 .15 .16 .04
3 .029 12.938 .00 .01 .48 .27 .02
4 .011 21.155 .01 .14 .27 .09 .40
5 .001 64.402 .99 .83 .11 .48 .54

Residuals Statisticsa
Minimum Maximum Mean Std. Deviation N
Predicted Value 1.9235 10.9582 5.6056 3.18202 9

Residual -5.34434 1.97280 .00000 2.15354 9
Std. Predicted Value -1.157 1.682 .000 1.000 9
Std. Residual -1.755 .648 .000 .707 9
Hypothesis1
H0: there is no relationship between , CAR, NPL, TAN, LIQ
and ROE.
H1: there is a relationship between , CAR, NPL, TAN, LIQ
and ROE.
To test the above hypothesis, we have to check the following model:
ROE=β0+β1 TDR+ Ɛi with β0
Where Ɛi is the disturbance term of the model.
The following are the summary of the results:
To see the variation of, CAR, NPL, TAN, LIQ in ROA, coefficient of multiple determinations (R
square) has been used. The results on coefficient of multiple determinations are presented in Table.
This shows the total variation Variation in ROE explained by ), CAR, NPL, TAN, LIQ:
Model R R Square AdjustedStd.rError of the Estimat
square
1 .828 .686 0.372 3.04557
a) Predictors: (Constant): CAR, NPL, TAN, LIQ
b) Dependent Variable: Return on Equity
As show in, the value of coefficient of multiple determinations is .686. This implies that the variation
in ROE can be explained by TDR is 68.6%.

Model fitness
To test whether the regression model can be fit or not, ANOVA test has been made. The results of
this test
Goodness of fit of regression
Model Sum of Squares Mean Square F Sig.

Reg Regression 81.002 20.251 2.183 .234
Residual 37.102 9.275
a) Predictors: (Constant): CAR, NPL, TAN, LIQ

b) Dependent Variable: Return on equity
As indicated in Table 4.12,). the null hypothesis is rejected since p-value is on significant
(0.234)This implies that CAR, NPL, TAN, LIQ contribution to the ROE.

Hypothesis 2:
a. Dependent Variable: ROA

Regression Statistics
Multiple R .846
R Square .715
Adjusted R Square .431
Standard Error .16206
Observations 9
Model Summary
Model R R Adjusted Std. Error of Change Statistics

Square R Square the Estimate R Square F df1 df2 Sig. F
Change Change Chang
e
1 .846 .715 .431 .16206 .715 2.513 4 4 .197
a. Predictors: (Constant), CAR, NPL, TAN, LIQ
b. Dependent Variable: ROA
ANOVA
Model Sum of Squares df Mean Square F Sig.
1 Regression .264 4 .066 2.513 .197b

Residual .105 4 .026

Total .369 8

Collinearity Diagnosticsa
Mode Dimension Eigenvalue Condition Variance Proportions
l Index (Constant) LIQ TAN NPL CAR
1 1 4.910 1.000 .00 .00 .00 .00 .00
2 .048 10.106 .00 .01 .15 .16 .04
3 .029 12.938 .00 .01 .48 .27 .02
4 .011 21.155 .01 .14 .27 .09 .40
5 .001 64.402 .99 .83 .11 .48 .54
Residuals Statistics
Minimum Maximum Mean Std. Deviation N
Predicted Value .1241 .5973 .3011 .18167 9

Residual -.28449 .10490 .00000 .11459 9
Std. Predicted Value -.974 1.630 .000 1.000 9
Std. Residual -1.755 .647 .000 .707 9

Hypothesis2:
H0: there is no relationship between, CAR, NPL, TAN, LIQ
and ROA.
H1: there is a relationship between , CAR, NPL, TAN, LIQ
and ROA.
To test the above hypothesis, we have to check the following model:
ROA=β0+β1 TDR+ Ɛi with β0
Where Ɛi is the disturbance term of the model. The following are the summary of the results:
To see the variation of, CAR, NPL, TAN, LIQ in ROA, coefficient of multiple determinations (R square)
has been used. The results on coefficient of multiple determinations are presented in Table. This shows
the total variation in ROA explained by, CAR, NPL,TAN, LIQ:
Model R R Square Adjusted R SquareStd. Error of the Estimate

2 .846 .715 0.431 .16206
c) Predictors: (Constant): CAR, NPL, TAN, LIQ
d) Dependent Variable: Return on Equity
As shown in Table 4.11, the value of coefficient of multiple determinations is .715. This implies
that the variation in ROE can be explained by TDR is 71.6%.
Model fitness
To test whether the regression model can be fit or not, ANOVA test has been made. The results
of this test are presented in table 4.12.
Goodness of fit of regression
Model Sum of Square
Mean Square F Sig.
RRE Regression .264 .066 2.513 .197
Residual .105 .026
c) Predictors: (Constant): CAR, NPL, TAN, LIQ

d) Dependent Variable: Return on Asset
As indicated in Table 4.12,). the null hypothesis is rejected since p-value is not significant
(0.197) .This implies that CAR, NPL, TAN, LIQ contribution to the ROE.

Chapter Six
FINDINGS, RECOMMENDA TION

& CONCLUSION

CHAPTER-SIX
FINDINGS, RECOMMENDATIONS &
CONCLUSION
FINDINGS
Findings After collecting and analyzing data, I have got some findings. These findings are
completely from my personal point of view. Those are given below.
❖ To tell specifically, the liquidity position was well previous years but last year’s current ratio
was not up to the mark. The higher the ratio, the more the liquidity. But excess liquidity reduces
profitability. A manager must offset between liquidity and profitability. Last year (2020) the
liquidity ratio was 1.89 with maintaining on an average link with previous years. Without this,
cash ratio and net working capital was good enough. I think the liquidity position is enough to
run operations.
❖ In Debt ratio, the debt position of a firm indicates the amount of other people’s money being
used to generate profit. In general, the financial analyst is most concerned with long term debts,
because these commit the firm to a stream payment over the long run. Because creditors claim
must be satisfied before the earnings can be distributed to shareholders, current and prospective
shareholders pay close attention to the firms to repay debts. Here, the debt ratio is spread by
(94%-97%). That means 94-97% is leverage on the total assets. But the times interest ratio is
good enough to meet up the fixed financial charges. My analysis shows that the bank took
deposits from the customer at a low rate but invested the funds at high rate.
❖ In profitability ratio, as per my analysis, I saw that sharp decrease in profit in 2013 was caused
by the large flow of deferred tax payment and other provisions. The diminution of investment
in 2016 causes a large cash flow out side of the bank for this the profit was low. But in 2021
somewhat there no such large cash out flow. Everything was normal and the profit margin was
well. Hence, the ROA and EPS was consistent with the net profit margin. But the equity loan
and ROE ratio was low because of the bank’s ability to raise a well collection of deposit from
the Customer.

❖ In summary, as a largest commercial bank and the agent of Bangladesh Bank Sonali Bank has
to do various types of work without thinking about the profit. For this reason, we have seen
that in some cases bank has doing loss, but though loss we cannot directly say that its bank’s
failure. This is happening only for helping the nation. On the other hand, we have seen that the
bank profit increasing rate is poor but increasing. The bank is highly liquid and earns much
profit on owner’s equity. Bank’s operating efficiency is good. EPS is becoming double per
year and earning spread is also increasing. So, after all we can say that as a nationalized bank
commercial bank Sonali Bank Limited is a bank which is earning better than another
nationalized bank.

RECOMMENDATION
✓ The Top management of Sonali Bank Limited should be more effective to the employee
then current situation. Because they should take care the branch level employee’s benefits,
opportunities etc.
✓ The bank has highly skilled employee in the branch level. But the bank should be able to
utilize these employees at appropriate way to take out the bank’s output.
✓ The website design is need to improve. Therefore, the website should be changed and can
put more information about the bank. The existing design cannot capture the customer’s
attention.
✓ The cheque’s design is poor. The good-looking cheque design can motivate the customer.
✓ The human resource division can be more effective. Because this human resource
department should think about the employee benefit much.
✓ In the training institute, the training process should be used latest technology to provide to
the trainee. The bank should give training about the office package, basic idea on computer
and internet.
✓ In the branch level when employees could transfer to another department during that time
that employee is needed at least ten days training according on the transfer position.
✓ The higher management should be more effective about the employee, to take right
strategy, right decision making.
✓ In the branch level employee is working so many extra times, so management should
provide some extra incentives to motivate the employee.
✓ On-line banking is coming soon so the responsible employee should be trained effectively.
✓ The training evaluation process and form is to be more modernized.
✓ Physical and technological facilities should be increased in evaluating credit proposals.
✓ Infrastructure should be modernized.
✓ The cost of fund needs to be minimized.
✓ The gap between employees and customers will be reduced through arranging meetings.

CONCLUSION
The Sonali Bank limited is not only a commercial bank but also a government bank. As a bank
Sonali Bank Limited has to do a lot of things for the betterment of the country. The Bank is strongly
positioned in the market and with its core strengths it can match shareholders’ expectations and
thus raise their wealth in future through ethical banking and best pricing. Thus, it has to take
initiative so that it can fulfill the desire of the govt. as well as people. It will enhance more public
services and build up working teams to provide the best services to its valuable customers. It must
be run in organized way and discipline must be ensured in all sphere of its performance. Efficient
export team, import team and remittance team must be formed and perform duties properly.
More training, computerization, data collection, market analysis and swiftness in servicing are
essentially required. To do these the recommended suggestions can be used. Although it is
theoretical suggestions, it is not valueless. It has great impact on the banking business and other
sectors of the economy. For this, govt. help is essential and it is expected that govt. will broaden
its hand for implementing the recommendations for the welfare of the people of Bangladesh.

REFERENCES
To prepare this report I have collected data mainly from annual reports of Sonali Bank Limited,
different books regarding ratio analysis, the websites of Bangladesh Bank and others websites
about ratio analysis. The references are given below:
Annual Reports :
▪ Annual Report of Sonali Bank Limited,2012


Books
✓ Kemal Avkiran, N., 1994. Developing an instrument to measure customer service

quality in branch banking. International journal of bank marketing, 12(6), p.10-
18.
✓ Bakar, N.M.A. and Tahir, I.M., 2009. Applying multiple linear regression and
neural network to predict bank performance. International Business Research,
2(4), p.176.
✓ Duncan, E. and Elliott, G., 2004. Efficiency, customer service and financial
performance among Australian financial institutions. International Journal of bank
marketing, 22(5), p.319- 342
✓ Ho, C.T. and Zhu, D.S., 2004. Performance measurement of Taiwan's
commercial banks. International Journal of Productivity and Performance
Management, 53(5), p.425-434.
✓ Presley, J.R., 1992. The problem of Risk management in banking in Oil-rich Gulf
Economies. International Journal of bank marketing, 10(1), p.36-40. 53
✓ O’Donnell, C.J., and van der Westhuizen, G., 2002. Regional comparisons of
banking performance in South Africa. The South African Journal of Economics
70 (3), p.485-518
✓ Raza, A., Farhan, M. and Akram, M., 2011. A comparison of financial
performance in investment banking sector in Pakistan. International Journal of
Business and Social Science, 2(9).
✓ Spathis, C., Kosmidou, K. and Doumpos, M., 2002. Assessing profitability factors
in the Greek banking system: A multicriteria methodology. International
Transactions in operational research, 9(5), p.517-530

Web Links:
✓ http://www.sonalibank.com.bd/
✓ https://www.bb.org.bd/fnansys/interestlending.phphttp://www.sonalibank.co.uk/w
age_earners.asp
✓ http://www.sonalibank.com.bd/webs/catalog/sonali_bank_bd_ltd.html
✓ http://www.sonalibank.com.bd/annualreports
✓ http://www.sonalibank.com.bd/trade_finance.asp
✓ http://wikipedia.com
✓ http://www.investorswords.com/401/bank.html
✓ http://www.bangladesh-bank.org/fnansys/bankfi.html
✓ http://www.reportbd.com
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Financial performance evaluation of Sonali Bank Limited

Article · March 2023

Shamol Chandra Nama

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Financial Performance Evaluation of Sonali Bank Limited, Comilla University Page | 1

1.2 Background of the Study

Financial Performance Evaluation of Sonali Bank Limited, Comilla University Page | 2

1.3 Methodology of the study:

Selection of the data:

Primary Sources of Data:

• Oral conversation with employees and officers of the banks.

Financial Performance Evaluation of Sonali Bank Limited, Comilla University Page | 3

• Five years Annual Reports of Sonali Bank Ltd.

1.4.Significance of the project

Financial Performance Evaluation of Sonali Bank Limited, Comilla University Page | 4

1.5 Scope of the study:

1.6 Research Question:-

1.7. Objective of the Study:

Financial Performance Evaluation of Sonali Bank Limited, Comilla University Page | 5

Specific objectives of this report are -

➢ To evaluate the financial operations & performance of Sonali Bank Limited.

Financial Performance Evaluation of Sonali Bank Limited, Comilla University Page | 6

Financial Performance Evaluation of Sonali Bank Limited, Comilla University Page | 7

Financial Performance Evaluation of Sonali Bank Limited, Comilla University Page | 8

Financial Performance Evaluation of Sonali Bank Limited, Comilla University Page | 9

Financial Performance Evaluation of Sonali Bank Limited, Comilla University Page | 10

3.2 History of Sonali bank Limited:

Financial Performance Evaluation of Sonali Bank Limited, Comilla University Page | 11

Sonali bank Limited is governed by a Board of Directors consisting of 11 members. It is headed

Financial Performance Evaluation of Sonali Bank Limited, Comilla University Page | 12

Financial Performance Evaluation of Sonali Bank Limited, Comilla University Page | 13

Financial Performance Evaluation of Sonali Bank Limited, Comilla University Page | 14

Deputy General Manager (DGM)

Financial Performance Evaluation of Sonali Bank Limited, Comilla University Page | 15

3.7. Vision of Sonali Bank Ltd:

3.8. Mission of Sonali Bank Ltd:

Financial Performance Evaluation of Sonali Bank Limited, Comilla University Page | 16

8. To expand trade and commerce

12. To earn profit

13. To ensure Regional Development

3.11. Small & Medium Enterprise (SME)

Financial Performance Evaluation of Sonali Bank Limited, Comilla University Page | 17

3.13. Ancillary services:

3.14. Strategic significance of Sonali bank:

Financial Performance Evaluation of Sonali Bank Limited, Comilla University Page | 18

3.15. Nature of Business:

Financial Performance Evaluation of Sonali Bank Limited, Comilla University Page | 19

• Transparent and Quick Decision Making.

3.17. Core Competencies:

▪ Zeal for Improvement.

3.18. Corporate social responsibility (CSR):

Financial Performance Evaluation of Sonali Bank Limited, Comilla University Page | 20

Sports and Cultural Activities:

Banking service for the Disadvantaged Groups:

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Financial Performance Evaluation of Sonali Bank Limited, Comilla University Page | 22

4.1.Individual ROE of different bank:

Financial Performance Evaluation of Sonali Bank Limited, Comilla University Page | 23

Sonali Bank Limited Bangladesh Development Bank