The Bank was incorporated in the year 1959 under the name and style of Eastern Mercantile Bank limited under the Companies Act 1913. After liberation of the country in 1971, the Bank was nationalized as per policy of the Government of the People’s Republic of Bangladesh under the Bangladesh Bank (Nationalization) Order 1972 (PO No 26 of 1972) and was renamed as Pubali Bank. Subsequently, the Bank was denationalized in the year 1983 and was again incorporated in Bangladesh under the name and style of Pubali Bank Limited in that year. The Government of the People’s Republic of Bangladesh transferred the entire undertaking of Pubali Bank to Pubali Bank Limited , which took over the same as a going concern. The Authorized Capital and the paid up Capital of the Bank were 5000 million and 200 million respectively as on December 31, 2003.