Bad loans weigh down banks A first generation private commercial bank has been fighting a loan default case worth about Tk 100 crore in court for the last 15 years, meaning it had to keep provisioning for the amount every year. But it came as a great relief to the
Read MoreGovernment to borrow from forex reserve for mega projects The government has decided to issue bonds as an instrument to borrow money from the country’s foreign exchange reserve for financing the mega projects, finance minister AMA Muhith said. Earlier, members of a committee, led by central bank deputy governor Shitangshu
Read MoreHSBC announces 10pc interest rebate for good borrowers The central bank has warned that it will not spare any bank if it fails to follow its directive to pay a 10 percent rebate on realised interest to all good borrowers. “Every bank must give incentives to its borrowers with regular
Read MoreBangladesh Bank responsible for $81 million heist: RCBC The Philippines bank through which $81 million stolen from Bangladesh’s central bank was channeled in February today said that the central bank was responsible for the heist, and so any liability should not be passed on. Manila-based Rizal Commercial Banking Corp (RCBC)
Read MoreBanks’ written-off loans soar further to BDT 423.0 billion Written-off loans bloated by nearly 3.0% or BDT 11.2 billion in the first six months of the current calendar year as banks tried to clean their balance sheets by reducing loads of default loans. The cumulative amount of loans written off
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