TT-Clean: 77.1 | TK BC-Selling: 78.1
TK OD-Sight: 76.88 TK | TC-Selling: 78.1 TK

TT-Clean: 77.1 | TK BC-Selling: 78.1
TK OD-Sight: 76.88 TK | TC-Selling: 78.1 TK


TT-Clean: 77.1 | TK BC-Selling: 78.1
TK OD-Sight: 76.88 TK | TC-Selling: 78.1 TK

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Rate last updated: 02/01/2014 11:15:04 AM

Daily Business News Flash April 01, 2024

BB cuts margin for banks as interest rate soars

With the interest rate on loans soaring, Bangladesh Bank (BB) yesterday reduced the margin that banks use to fix the lending rates in a bid to contain the cost of borrowing and ease pressure confronting businesses. In a notice, the central bank said banks will be able to charge a maximum margin of 3 percent on the top of the benchmark rate — the Six Months Moving Average Rate of Treasury Bill (SMART). It was down from 3.5 percent. In July last year, the BB introduced the SMART to allow the interest rate to become more market-based, ending the 9 percent lending rate ceiling, with a view to making funds costlier and rein in the skyrocketing inflation. In June 2023, the weighted average interest rate of deposits and loans was 4.38 percent and 7.31 percent, respectively. The rates rose to 4.92 percent and 9.75 percent, respectively, in January.

Source: https://www.thedailystar.net/business/economy/news/bb-cuts-margin-banks-interest-rate-soars-3579186

Banks offer hefty discounts in cashless shopping on card payment

Cashless payments are adding to the joys of Eid shopping, traveling, Iftar and Sehri meals. Thanks to the hefty discounts offered by banks and mobile financial services (MFS), credit card holders are making best use of the facilities. Banks keeping in mind the demand of different types of their customers, provide up to 80 per cent discount, cashback, and buy one get one offers in purchasing products and services using credit and debit cards during this Eid festival. Some banks are offering discounts on the purchase of various products including Eid clothes, shoes, and jewellery. In addition, iftar prices are discounted throughout the month of Ramadan. There are also many ‘Eid gifts’ including buy one get one offers. as many as 300 lifestyle stores offer up to 60 per cent and more than 50 jewelery establishments offer up to 80 per cent discount for City Bank cardholders. currently, StanChart provides up to 60 per cent discount, which is convenient to the customers in the use of seven types of credit cards to make Eid more enjoyable.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/banks-offer-hefty-discounts-in-cashless-shopping-on-card-payment-1711902806

More CEOs expect economic improvement this year

A higher number of chief executive officers (CEOs) working in firms in Bangladesh expect that the economy is likely to improve in the next one year compared to that a year earlier. About 36 percent of the CEOs are expecting the economic growth rate to improve, compared to 31 percent in a similar survey conducted last year. The PwC surveyed 52 local CEOs as a part of its global survey among CEOs across 105 countries and territories from October 2 through November 10 of 2023. Thriving in the era of continuous reinvention reflects the sentiment of business leaders in Bangladesh amid ongoing economic changes, technological evolution, and environmental concerns. Around 72 percent stated that they made progress in their energy efficiency improvement programmes and expressed an optimistic view about the impact of artificial intelligence (AI) in their organisations. Around 79 percent expect generative AI to increase efficiencies in their own work time, and 74 percent expect it to improve their employees’ efficiency in the next 12 months.

Source: https://www.thedailystar.net/business/economy/news/more-ceos-expect-economic-improvement-year-3579216

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 39,807.37
↑ 47.29↑ 0.12 %
FTSE100$ 7,952.62↑ 20.64 ↑ 0.26 %
Nikkei 225$ 39,945.35↓ 424.09↓ 1.05 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 83.47↑ 0.30↑ 0.36 %
Crude Oil (Brent)$ 87.29 ↑ 0.29↑ 0.33 %
Gold Spot$ 2,262.22↑ 32.35↑ 1.45 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 110.0000
BDT 110.0000

*World Commodities & Local and Global Stock Indices data are taken from bloomberg.com<

* Exchange Rates are taken from BB website, as on latest update.<




Dear Valued Patrons,

At the very onset, let me express my heartiest gratitude for allowing us to serve you and I also wanted to reach out to you directly with an assurance that Dhaka Bank is fully equipped to support you during this difficult time.

Last couple of weeks ago we all were living in a peaceful condition, performing our daily tasks freely and perfectly. Entire economy and business environment was also in a good shape, until COVID-19 put a forceful stoppage to the overall life style and economy of the world. We all know that social distancing and cleanliness are the keys to prevent this pandemic. Hence, we urge your conscious effort to limiting public interaction and suspending wherever possible.

In this current situation, Dhaka Bank and its employees are beside you where we are fully online, either working from home or at our offices under a robust Business Continuity Plan (BCP) to serve you with limited branch banking and a full-fledged alternate delivery channel services.

Our state of the art Mobile App, Dhaka Bank GO (Click https://bit.ly/2WVfieu) and Internet Banking - Dhaka Bank Direct gives you the freedom of banking online anytime from anywhere. You can check the balance and transfer money to any designated Banks including any Dhaka Bank or bKash Account, make utility bill payments and mobile top-up through our Mobile App and Internet Banking Services. Our ATMs are also running efficiently with availability of sufficient cash for your convenience where you can make cash withdrawals whenever the need arises. Mentionable, the withdrawal of cash from any ATMs within Bangladesh with Dhaka Bank Debit Cards are absolutely free of charges up till April 30, 2020 (Dhaka Bank will bear the cost). Our corporate customers can also use our completely safe and secured online platform Dhaka Bank C-Solution for Payments, Inter Bank Fund Transfers, etc.

Moreover, to fulfill your urgent requirement, we have a limited no. of branches up and running by ensuring all kinds of precautionary and safety measures for you.

In case of extreme emergency and facing difficulties in conducting banking transactions, please let us know through our 24/7 Contact Center number 16474 (or, dial +8809678016474 for ISD/Overseas Calls). We are always with you to combat your difficulties.

As you know we are going through a critical phase and the situation is novel to all of us. We are getting lot of new information from various sources everyday about COVID-19 which will be shared at www.dhakabankltd.com.

Thank you for your trust and continued support to us. I firmly believe that jointly we will be able to combat this situation and win against all the odds.

Please stay home, stay safe and take care of yourself and family.

Best regards,

Emranul Huq
Managing Director & CEO
Dhaka Bank Limited