The objective of this paper is to identify the bank specific variables that affect the profitability of commercial banks of Bangladesh. A total of 15 commercial banks were taken & their financial reports were analyze from 2003-2013. The study used return on asset as the dependent variable & bank specific variables like capital adequacy ratio, gearing ratio (risk), liquidity, non-performing loan ratio, operating expense ratio & bank size as independent variables. Prais-Winsten correlated panels corrected standard errors (PCSEs) model was employed which removes any autocorrelation & heteroskedasticity problem automatically for the panel data. The results indicated that size, operating expense, gearing ratio & capital were found to be important variables that affect the bank profitability of Bangladesh. Other two variables were not important determinants for Bangladeshi commercial banks. Capital shows positive relation to bank profitability but other three statistically significant variables showed negative relation to performance. Empirical results suggests that adequate capital, low risk, efficient expense management & rightsizing lead to greater performance and profitability for Bangladeshi bank industry.