Shimanto Bank

What Shimanto Bank does

Shimanto Bank PLC is a private commercial bank headquartered in Dhaka, Bangladesh, founded in 2016 and operating across retail, SME, and corporate banking segments. It serves salaried individuals, small and medium enterprises, government employees, rural women entrepreneurs, and Border Guard Bangladesh (BGB) personnel through a network of 27 branches, 8 sub-branches, and over 40 ATMs spanning Dhaka, Chittagong, Khulna, Sylhet, Rajshahi, Rangpur, Mymensingh, Cox's Bazar, and various border and hill districts. Its product portfolio includes retail deposit schemes (Shimanto Sanchay, SMBL Money Savers), lending products (Shimanto Nibash home loans, SMBL Vehicle Loan, personal, education, marriage, and pension-backed loans), SME financing (SMBL Astha, SMBL Time Loan), microfinance for rural women (SMBL Nari Shakti), dual-currency credit and debit cards (SMBL Cards), and segment-specific products for BGB personnel.

The bank operates a digital banking platform branded CONNECT (SMBL Connect Internet Banking) that supports online account management, fund transfers, bill payments, and, since October 2025, a Bangla QR Code payment service for cashless merchant transactions. CONNECT is integrated with bKash for wallet-to-account transfers and, as of January 2026, with Trust And Pay under an MOU for cross-platform fund transfers. Institutional relationships include a refinancing line with Bangladesh Bank for SME lending and an MOU with the Ministry of Finance to provide housing loans to government employees.

Revenue mechanics follow a standard commercial-bank model: net interest income from loans and advances (home, car, personal, SME, education), fee and commission income from account servicing, cards, and digital payments, plus transaction fees on QR and online banking. Customer acquisition is sales-led through the branch network, supplemented by digital self-service channels and event-driven outreach such as the February 2026 AI for Finance and Digital Financial Literacy workshop co-conducted with Bangladesh Chamber of Industries and NetCom Learning Bangladesh. Leadership includes Mohammad Azizul Hoque (MD and CEO, Current Charge) and Md. Nurul Azim (Managing Director and CEO) per separate sources, indicating a recent leadership transition.

Name

Shimanto Bank

Legal name

Shimanto Bank PLC

Website

https://shimantobank.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

51–100 employees

Short description

Shimanto Bank is a private Bangladeshi commercial bank offering retail, SME, corporate, and microfinance products through 27 branches, 8 sub-branches, and a CONNECT digital banking platform with Bangla QR payments, serving individuals, businesses, government employees, BGB personnel, and rural women entrepreneurs.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Commercial Banking (522110), Commercial Banking (52211)

SIC

National Commercial Banks (6021)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

akta.pro secondary industry

Credit Cards & Revolving Credit (FSABAAAC)

Keywords

• Retail banking services
• SME lending products
• Digital payment services
• Microfinance programs
• Commercial banking solutions

Headquarters

HQ city

Dhaka

HQ country

Bangladesh

HQ region

Asia

Offices11 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Interest Income: Primary revenue stream from interest earned on loans and advances including home loans, car loans, personal loans, SME loans, and education loans.
2. Fee and Commission Income: Income from various banking fees including account maintenance, transaction charges, and service fees as outlined in Schedule of Charges.
3. Digital Payment Services: Revenue generated through digital payment services including QR code payments, fund transfers, and online banking transactions.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Shimanto Bank is a Bangladeshi commercial bank that provides retail, SME, and corporate banking services through an extensive branch, sub-branch, and ATM network across Bangladesh. Its offering spans deposit products (savings, time deposits, payroll accounts, pension-backed schemes), a wide lending portfolio (home, vehicle, personal, education, marriage, SME, microfinance loans), dual-currency credit and debit cards, and digital banking via the CONNECT Internet Banking app with Bangla QR Code payments. It also serves niche customer segments including Border Guard Bangladesh personnel and rural women entrepreneurs.

Product overview

Shimanto Bank operates as a diversified financial institution offering a comprehensive range of banking products organized across Retail, SME, and Corporate banking segments. The core digital platform is SMBL Connect (internet banking), which supports features like Bangla QR Code payments. The product portfolio includes dual-currency credit cards and debit cards through SMBL Cards division, various deposit products (Shimanto Sanchay, BGB Payroll Account, Time Deposits), and diverse lending products spanning home loans (Shimanto Nibash), vehicle loans, personal loans, education loans, and specialized SME financing (SMBL Astha). The bank also serves specific segments including women entrepreneurs through SMBL Nari Shakti and Border Guard Bangladesh personnel through dedicated products like Shoinik Bhabishwat and BGB Payroll Account.

Differentiator

Problem solved

Functional benefit

Brands

• SMBL Connect: Internet banking platform for online banking services
• CONNECT
• SMBL Cards
• Shimanto Sanchay
• SMBL Nari Shakti
• Shimanto Nibash
• SMBL Astha
• BGB Payroll Account

Products and services

• SMBL Connect (Internet Banking) Online and mobile banking platform enabling customers to conduct financial transactions remotely, including Bangla QR Code payments for cashless transactions and account management.
• SMBL Cards (Credit & Debit) Dual-currency credit cards and debit cards offering ATM access, payment capabilities, and zero interest EMI plans for cardholders, for both domestic and international transactions.
• Shimanto Sanchay Retail deposit account product offering savings with competitive interest rates for individual customers.
• BGB Payroll Account Specialized payroll account for Border Guard Bangladesh (BGB) members with tailored banking services for armed forces personnel and their families.
• SMBL Astha Business loan product designed for small and medium enterprises to meet various business financing needs.
• SMBL Time Loan Time-based loan facility for SME customers with flexible tenure options.
• Shimanto Nibash (Home Loan) Home loan product for purchasing, constructing, or renovating residential properties.
• SMBL Vehicle Loan Vehicle financing for both new and reconditioned cars with competitive rates.
• SMBL Personal Loans Personal loan facilities for individual financial needs.
• SMBL Education Loan Education financing for students pursuing academic studies.
• SMBL Nari Shakti Microfinance loan program targeting women entrepreneurs in rural areas engaged in poultry farming, hatchery, fisheries, and cattle businesses.
• Shoinik Bhabishwat Fixed deposit product exclusively for serving soldiers of Border Guard Bangladesh with maturity benefits.
• SMBL Pension Backed Loan Loan facility backed by pension income for eligible pensioners.
• SMBL Marriage Loan Personal loan for wedding-related expenses.
• SMBL Easy Cash Quick cash facility for immediate financial needs.
• SMBL Salary OD Overdraft facility against salary for eligible salaried individuals.
• SMBL Money Savers Installment-based savings scheme with flexible maturity options to build financial future.
• Bangla QR Code Payment Service Cashless QR code-based payment service enabled through the CONNECT Internet Banking app, allowing customers to make payments using Bangla QR codes at merchants.

Named customers3 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Six partnerships are on record, tiered minor and core.

• Bangladesh Chamber of Industries (BCI)minorStrategic or Co-development Partner · 1 February 2026Shimanto Bank PLC conducted technical sessions at the 'AI for Finance and Digital Financial Literacy' workshop organized by Bangladesh Chamber of Industries in Dhaka. 20 representatives from BCI member organisations attended the workshop focusing on developing AI and digital financial literacy skills for the industrial sector.
• NetCom Learning BangladeshminorImplementation/ SI/ Consulting Partner · 1 February 2026NetCom Learning Bangladesh conducted technical sessions at the 'AI for Finance and Digital Financial Literacy' workshop organized by Bangladesh Chamber of Industries in partnership with Shimanto Bank, focusing on AI skills and digital financial literacy for finance professionals.
• Trust And PaycoreTechnology or Integration · 28 January 2026Shimanto Bank signed an MOU with Trust And Pay at the bank's head office in Dhaka to enable seamless fund transfers between customers of both institutions. Under the agreement, Shimanto Bank customers can send and receive funds to and from Trust And Pay accounts, expanding digital payment options. The MOU was signed by Mohammad Azizul Hoque, Managing Director and CEO (Current Charge) of Shimanto Bank, and S M Akram Sayeed, Chief Executive Officer of Trust And Pay.
• Bangladesh BankcoreStrategic or Co-development PartnerShimanto Bank has a refinancing agreement with Bangladesh Bank for financial inclusion and SME lending purposes.
• Ministry of Finance (Bangladesh)coreStrategic or Co-development PartnerShimanto Bank signed an MOU with the Ministry of Finance for providing housing loans (গৃহঋণ) to government officers and employees.
• bKashcoreTechnology or IntegrationCONNECT to bKash Transfer service enables customers to transfer funds between Shimanto Bank accounts and bKash mobile wallet.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• NCC Bank: Bangladesh private commercial bank of comparable size and branch network, offering similar retail/SME/corporate banking products — a closely matched structural peer.
• Dutch-Bangla Bank: Leading Bangladesh private commercial bank known for its extensive agent banking and ATM network and digital-first retail strategy — directly comparable on nationwide distribution and digital banking emphasis.
• Trust Bank Limited: Bangladesh private commercial bank with comparable retail/SME focus and similar mid-tier scale, including specialized products for armed-forces segments — a structurally comparable peer.
• Mutual Trust Bank: Bangladesh private commercial bank of broadly similar scale offering retail, SME, and corporate banking with a comparable nationwide branch footprint and product portfolio.
• Eastern Bank Limited (EBL): Mid-to-large Bangladesh private commercial bank focused on retail, SME, and corporate banking with a developed digital platform (Skybanking) — closely comparable in customer segmentation and product depth.
• BRAC Bank: One of Bangladesh's largest private commercial banks offering retail, SME, and corporate banking with a strong digital platform (Aster) and extensive branch/ATM network — directly comparable on product mix and target segments.
• Bank Asia: Bangladesh private commercial bank offering retail, SME, and corporate banking with similar mid-tier scale, multi-channel distribution, and digital banking investments.

Broad incumbents

• Prime Bank: Larger, more established Bangladesh private commercial bank with broader product set (including investment banking) and stronger brand — comparable on core banking but operates at greater scale.
• AB Bank: One of Bangladesh's oldest private commercial banks offering a full range of retail, SME, and corporate banking — operates at a larger, more established scale but competes in the same product segments.

Others

• bKash: Bangladesh's leading mobile financial services platform and digital payments partner to Shimanto Bank — relevant as a technology/distribution counterpart rather than a direct banking competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/watch?v=LRv7mxKJBgg
• Facebookfacebook.com/shimantobankbd

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Shimanto Bank