Some 85pc listed banks see profit surge in H1
Most of the listed banks logged higher profits year-on-year in the first half (H1) for January-June, 2021 due to higher operating income, lower provisioning and bullish capital market. Of the 31 banks listed on the Dhaka Stock Exchange (DSE), 27 have disclosed their un-audited financial statements for January-June, 2021 as of Sunday. Of them, the consolidated earnings per share (EPS) of 23 banks (85 per cent) surged, three saw their EPS fell marginally while one continued to incur loss, according to available data with the DSE.Most banks posted higher EPS due to increase operating profit while non-performing loans were under control because of the policy support on provisioning from the central bank. Standard Bank registered the highest EPS surged by 283 per cent to Tk 0.23 for January-June 2021. Its EPS was Tk 0.06 in the same period a year earlier. The EPS of Prime Bank also rose to Tk 1.81 for January-June, 2021, up by a whopping 229 per cent, from Tk 0.55 in the corresponding period. Newly listed NRB Commercial Bank’s EPS soared 126 per cent to Tk 1.11 for January-June, 2021. Its EPS was Tk 0.49 in January-June, 2020. BRAC Bank’s EPS jumped 120 per cent to Tk 1.85 for January-June, 2021, which was Tk 0.84 in the same period of the previous year.
e-GP tenders cross 0.5m-mark
The number of tenders invited through e-GP portal crossed 0.5 million on August 01, 2021 with a total value of about Tk 5.10 trillion (510,499 crore), reports BSS. This is a landmark achievement of the electronic government procurement (e-GP) system introduced by the Central Procurement Technical Unit (CPTU) of the Implementation Monitoring and Evaluation Division (IMED) under the Ministry of Planning. The e-GP system has zero downtime. It remains active and functional throughout the Covid-19 pandemic period with the 24/7 helpdesk open.On July 22, 2020 the number was at 0.4 million involving over Tk 4.1 trillion (410,000 crore). There are 1,365 procuring agencies in the country. Until August 1, 2021, a total of 1362 agencies got registered with the e-GP system. The number of tenderers registered with e-GP stood at 88,294 on the day.Building on the success of piloting, the CPTU started implementing e-GP across the government procuring agencies from 2012. The World Bank has been providing support to the government in digitising public procurement.
RMG exports see 16% negative growth in July
Apparel shipments suddenly slowed down in the last week of July due to the combined impacts of Eid vacation, lockdown and container congestion at the Chattogram port, resulting in a 16% slump in export earnings in the month, relative to the same period last year. Apparel exports, however, had shown a remarkable 37% growth in the first three weeks of July, increasing earnings to $2.22 bilion until 19 July from $1.66 billion of the same period last year, according to data compiled by the Bangladesh Garment Manufacturers and Exporters Association (BGMEA). Bangladesh exported apparels worth $2.60 billion from 1-30 July this year, down from $3.08 billion last year, said MohiuddinRubel, director of BGMEA.The apparel sector accounts for more than 80% of the country’s total exports for the last three decades. In the fiscal year 2020-21, apparel exports fetched $31.45 billion. Export earnings fell drastically in April and May 2020 due to the pandemic, bringing down the sector’s earnings to $27.94billion in fiscal year 2019-20.
Discussion on ‘Digital Marketing – CS Profession’
The Institute of Chartered Secretaries of Bangladesh (ICSB) organized a discussion session titled “Digital Marketing – CS Profession” on Saturday on virtual platform. Mr. A.H.M Shafiquzzaman, Council Member of ICSB and Additional Secretary, Ministry of Commerce, Government of the People’s Republic of Bangladesh graced the occasion as the Chief Guest. Mr. Muzaffar Ahmed FCMA, FCS President of the Institute chaired the session and delivered the welcome speech. The keynote paper on the subject was presented by Mr. Nayeem Ahmed, Brand In-Charge, Multiply Digital. Mr Md. Selim Reza LL.B., FCA, FCS, Vice President of ICSB and Partner, ARTISAN, Chartered Accountants and Mr. Md. Azizur Rahman FCS, Council Member and Head of Public Affairs & Company Secretary of British American Tobacco Company Limited, Bangladesh were the Official Discussants.