Five firefighting units were rushed to the spot after the blast, which occurred around 4:50 pm (local time), the bdnews24 news portal reported, citing the fire service control room.
The cause of the blast was not immediately known but fatal building fires and explosions are common in Bangladesh, where safety enforcement is often lax.
The blast shook the fourth and fifth floors of a seven-storey building in Gulistan, a major hub for wholesale goods in the capital Dhaka, shortly before 5 pm local time (1100 GMT).
The building has several stores for sanitary products on the bottom floor and a branch of BRAC Bank was located in the building adjacent to it.
The blast shattered the glass walls of the bank and also damaged a bus standing on the opposite side of the road, reports said.
No fire broke out in the building but more than 150 firefighters were at the site to assist in rescue efforts, a fire services spokesperson said.
An explosion at an oxygen plant near the southern port city of Chittagong on Saturday killed three people.
(With inputs from agencies)
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