Seven private banking companies incurred operating loss in the first quarter of the current calendar year due to prolonged standoff in trade and commerce that slowed down investment growth, according to Dhaka Stock Exchange (DSE) sources.
Industry insiders said slow pace of recovery that began after January 5 parliamentary election could not make up the deficit in operational expenditure of the banks,reports the Daily Sun.
Financial statements for January-March 2014 submitted to the DSE shows that the remaining 23 private commercial banks could not make significant income but the amount required for provisioning was higher due to rise in classified loans.
“Increase in operational cost coupled with higher provisioning requirement is eroding banks’ income,” said former Bangladesh...
Bangladesh Bank (BB) on Sunday removed BASIC Bank Limited Managing Director (MD) Kazi Faqurul Islam on charge of irregularities and corruption.
Kazi Faqurul Islam has been removed with immediate effect as he indulged in financial irregularities while disbursing loans violating the central bank’s directives, BB General Manager AFM Asaduzzaman told UNB over phone.
Irregularities in the bank came to the fore early last year.
BB inspections found that the bank approved loans of Tk 4,500 crore, mostly without proper documentation...
The Government will provide policy support to garment accessories and packaging manufacturers in the country, in order to help the sub-sector grow parallel to the apparel industry, said Minister of State for Finance MA Mannan, during the launch of the ‘Integrated Support to Poverty and Inequality Reduction through Enterprise Development’ (INSPIRED) project that aims to develop small and medium enterprises (SMEs) in the country.
Mr. Mannan explained that the garment accessories and packaging manufa...
Qatar and Bangladesh on Tuesday signed accession agreements to become new members of the Conference on Interaction and Confidence Building Measures in Asia (CICA).
Previously observers, the two countries bring to 26 the number of member states of the CICA, established in 1992 as a forum for dialogue and consultation.
Qatar is part of Asia, and Asia can solve its own problems through cooperation, said Ahmed bin Abdullah bin Zaid Al-Mahmoud, Qatar’s deputy prime minister and minister of state for cabinet affairs, who ...
Speakers in an event in the capital have expressed concern over the public sanitation system in the city, especially for the commuters. They have urged to construct proper sanitation facilities, primarily safe and hygienictoilets, for the commuters.
The event was organised marking inaugural of a new public toilet at Gabtoli Bus Terminal in the capital. Dhaka North City Corporation has constructed the establishment with support of H&M Conscious Foundation through WaterAid Bangladesh.The public toilet will have separate toilet chambers and shower facilities for men and women and persons with disability. It will also have a left luggage locker service for the toilet users.
Bangladesh Petroleum Corp (BPC) will sell 170,000 barrels of naphtha to MRI Trading in May at a premium of $1.15 a barrel to Singapore quotes on a free-on-board (FOB) basis, the highest price in more than a year and sharply up from a previous sale.
Five firms competed for the tender, which was reissued on short supply, for loading over May 28-30 from Chittagong, a BPC official said.
This was the highest bid that BPC has received since March last year.
Vitol Asia won the original tender with a premium of 12 cents a barrel, for May 10-12 loading, but the tender ...
