BB Policy sparks flurry of loan write-offs Loan write-offs almost quadrupled in the first quarter of the year on the back of the central Bank’s easing of rules, in a sobering reminder of the Banking sector’s deteriorating financial health. Between January and March, Tk 557.30 crore was written-off, in contrast
Read MoreGovt’s borrowing from Banks almost half of its plan The Government’s Bank borrowing last fiscal year was almost half of what it had planned to, thanks to its lower development expenditure and higher sales of national savings certificates, much to the relief of the cash-strapped Banking sector. In fiscal 2018-19,
Read MoreICB AMCL declares dividends of eight closed-end MFs The Trustee Committee of the eight closed-end mutual funds managed by ICB Asset Management Company Ltd (AMCL) declared dividend for the year ended on June 30, 2019, said official disclosures on Wednesday. The closed-end mutual funds are: ICB AMCL Second Mutual Fund,
Read MoreForeign investors to purchase shares worth $100m of United Mymensingh Power United Power Generation & Distribution Company Limited and its major shareholder United Mymensingh Power Limited (“UMPL”) executed an agreement with an international private equity group for an investment of BDT 8.5 billion (approximately US$100 million). The investors will purchase
Read More10 new products to get export subsidy The government is going to extend subsidies on the export of 10 new products with a view to boost export earnings to $50 billion by 2021 to achieve higher growth and generate employment. Moreover, garment export to the US, Europe and Canada will
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