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 11, 2022

Agent banking booms but lending remains paltry

Lending portfolio of fast-growing agent banking remained much lower than deposits, according to a latest report, as the bankers seem tight-fisted in disbursing loans. The report on state of agent banking, prepared for the October-December 2021 period and released Sunday by the central bank, shows the loan-to-deposit ratio in the agent-banking system now just 22 per cent although it is around 74 per cent on average in traditional banking.Such lending or loan against deposit remained insignificant as most banks have yet to develop feasible infrastructures for loan disbursement and recovery through agent outlets. Managing Director and CEO of the state-owned Agrani Bank Mohammad Shams-Ul-Islam told the FE that they would take initiative to raise lending volumes through the agent-banking outlets. The bank has 400 agents across the country to operate the banking system unveiled in the country’s financial system in 2013.The number of accounts opened through agent banking reaches 14.047 million, nearly 48 per cent belonging to female customers. And 12.12 million or more than 86 per cent belong to customers in the rural areas. The number of accounts opened through agent banking had grown by nearly 9.0 per cent over the previous quarter ending September 2021.

Source: https://today.thefinancialexpress.com.bd/first-page/agent-banking-booms-but-lending-remains-paltry-1649610190

Walton sales hit record high in March

Walton Hi-Tech Industries PLC has achieved a new milestone in the sales of its elevators, fans, LED lights, switch-sockets and other electrical appliance, says a press release. The demand and sales of the electrical appliances made by Walton are witnessing a huge growth and the company is heading to be top in this segment. It has sold out electrical appliances worth Tk 1.27 billion March under its three brands — Walton, Marcel and Safe. According to Walton, this is the highest ever sales of electrical appliances in a month. Walton registered 52 per cent sales growth on electrical appliances in 2020-21 fiscal year.

Source: https://today.thefinancialexpress.com.bd/trade-market/walton-sales-hit-record-high-in-mar-1649606921

Cumilla Economic Zone gets final govt nod

The Cumilla Economic Zone (CEZ), a concern of the Meghna Group of Industries, has received the final approval from the government becoming the 12th private sector economic zone of Bangladesh. The Bangladesh Economic Zones Authority (BEZA) on Sunday awarded the final licence to the Meghna Group, a leading business conglomerate in the country, to build the economic zone in Cumilla. The Cumilla Economic Zone is expected to go into production within 2023, with land prepared for factory construction. Many local and foreign companies have already expressed an interest in setting up factories at the industrial hub. Situated on the bank of a tributary of the Meghna River near the Dhaka-Chattagram highway, the under-construction private economic zone is the first of its kind in the fast-growing Cumilla district.

Source: https://www.tbsnews.net/economy/cez-gets-final-nod-govt-400922

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 34,721.12
FTSE100$ 7,669.56↑117.75↑1.56%
Nikkei 225$ 26,793.46↓192.34↓0.71 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 96.05↓2.21↓2.25 %
Crude Oil (Brent)$ 100.62↓2.16↓2.10 %
Gold Spot$ 1,944.46↓3.08↓0.16 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 86.2000
GBP 1BDT 112.3531
EUR 1BDT 93.7856

*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