Published:  01:54 AM, 10 January 2019

Sonali Exchange, USA bounces back

Sonali Exchange Co Inc, USA, a subsidiary of the state-owned Sonali Bank Limited, made a significant profit last year after counting a loss in the previous two years as it sent $87.15 million remittances to Bangladesh in 2018, the highest in the last five years.

"The US-based Bangladesh money transfer company earned $ 19,000 profit in 2018 thanks to confidence of the expatriate Bangladeshis in the exchange house and sincere cooperation of all concerned," said Acting President and Chief Executive Officer of the Sonali Exchange M Zahurul Islam over phone from New York yesterday, reports BSS.

He said the exchange house counted a loss of $2.27 lakh in 2017 and $66 thousand in 2016, but it bounced back last year as it sent remittances amounting to $87.15 million in 2018, $2.15 million more than the target. Zahurul said the number of remitters has increased to 1,22,431 in 2018, 11,000 up from the previous year and the number was the highest in the last eight years.

"Despite having huge competition in remittance business, this success came due to sincere efforts, hard labour and improved customer service by all concerned of the organisation," he said. Seeking sincere cooperation from all in the new year, Zahrul expressed his hope that the exchange house will earn more profit this year.

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