LC opening against import declines sharply by 31% in July

The banking sector will see ease in payment pressure for imports in the coming months as new LC (Letter of Credit) opening fell by 31% in July, according to provisional data of the Bangladesh Bank. In July, the total LC opening was $5.47 billion, down from $7.9 billion in June, central bank data shows. The LC opening picked up to nearly $10 billion in March amid huge business activities in the post-pandemic era creating payment pressure on banks. The dollar rate for import LC went up to Tk105 per dollar in July but bankers assumed that price will come down in the next month as LC opening of most banks almost halved in July.

Source: https://www.tbsnews.net/economy/banking/lc-opening-against-import-declines-sharply-31-july-468918

Jamuna Bank to issue Tk 500cr bond

Jamuna Bank Ltd has decided to issue a Tk 500 crore bond to strengthen its capital base. The board has decided to raise the fund through the issuance of the non-convertible coupon-bearing subordinated redeemable bond (5th phase). The capital raising is part of the tier-II revised regulatory capital framework for banks in line with Basel III through private placement.

Source: https://www.thedailystar.net/business/organisation-news/news/jamuna-bank-issue-tk-500cr-bond-3084586

Navana gets ‘Toyota Marketing Excellence Award-2021’

Navana gets ‘Toyota Marketing Excellence Award-2021’: Navana Limited has received the ‘Toyota Marketing Excellence Award-2021’. Vice Chairman (Automotive Division) of Toyota Tsusho Asia Pacific Pte. Ltd., Akio Ogawa, handed over the award to Navana Limited. Saiful Islam, SVC, Navana Group, Wahed Azizur Rahman, CEO, Navana Group, Mohammed Arfadur Rahman Bunty, CCAO, Navana Group, and Ahmed Saquib, COO, Navana Limited, were present to receive this award presented by Toyota.

Source: https://today.thefinancialexpress.com.bd/trade-market/navana-gets-toyota-marketing-excellence-award-2021-1659289966