Banking sector sees rise of millionaire depositors In just one year, the banking sector has seen a massive rise in millionaire depositors. There are 5,834 more millionaire depositors in the sector compared to the previous year. Before, the number was 62,038; currently it is 67,872. The information comes from the
Read MoreNew cashless payment system in the offing Bangladesh is moving one step closer to being a cashless society after the central bank gave the go-ahead to a company to facilitate payments between parties through online fund transfers. Called the iPay, the fintech startup’s system will function like Paypal, which operates
Read MoreDefault loan rises by Tk12,000 crore The total value of defaulted loans rose by almost one-fifth last year. Defaulted loans rose to Tk74,303 crore in 2017 from Tk62,172 crore in 2016– a year-on-year rise of Tk12,131 crore or 19.5%. As a proportion of the total outstanding loans, defaulted loans accounted
Read MoreNPLs swell 19.51pc in 2017 The volume of non-performing loans (NPLs) in the country’s banking system jumped 19.51 per cent or Tk 121.31 billion in the last calendar year (2017) despite close monitoring of the central bank. The NPLs rose to Tk 743.03 billion as on December 31 last year,
Read MoreJuly-Jan trade deficit soars 92pc to $10.12b The country’s overall trade deficit crossed US$10-billion mark in the first seven months of the ongoing fiscal year (FY), 2017-18, mainly due to higher import payments against lower export receipts, officials said. The deficit rose by nearly 92 per cent or $4.84 billion
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