Top 10 companies snare 22.36pc of turnover

Top 10 companies grabbed 22.36 per cent of the turnover posted by Dhaka Stock Exchange (DSE) in last week. Riding on investors’ increased participation, the companies featured turnovers ranging between Tk 1.36 billion and Tk 5.42 billion. During the week, the premier bourse DSE featured a daily turnover above of Tk 25.77 billion which was 3.21 per cent less than the daily average turnover of previous week. Of top 10 companies, Beximco posted a total turnover of Tk 5.42 billion in last week. The company grabbed 5.26 per cent of the weekly turnover posted by the main bourse. During the week, the company’s share price advanced 0.37 per cent to close at Tk 107.90 each. IFIC Bank posted a turnover of Tk 3.34 billion in four sessions and grabbed 3.24 per cent of the weekly market turnover. The company’s share price advanced 1.19 per cent to close at Tk 17 each.Orion Pharma posted a turnover of Tk 1.70 billion and captured 1.65 per cent of the weekly market turnover. During the week, the company’s share price closed at Tk 72.50 each with a rise of 3.13 per cent.Of other top turnover leaders, Malek Spinning Mills posted a turnover of Tk 1.53 billion, Keya Cosmetics Tk 1.42 billion, AB Bank 1.41 billion and National Housing Tk 1.36 billion.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/top-10-companies-snare-2236pc-of-turnover-1629561715

 What drove NBFI’s half yearly profits boost

10 of the 23 publicly listed NBFIs, mostly the top-tier ones, already disclosed their financial statements for the January-June period and that reveals significant year-on-year growth in net profits after tax for nine firms.The noticeable improvement in earnings deserves some analytical breakdown, said Rehan Kabir, a senior research associate at EBL Securities.First half of 2020 was a tough period for all the lenders as The Bangladesh Bank capped the deposit and lending rates for scheduled banks at 6% and 9% respectively from the beginning of April and the average cost of deposits initially did not come down in line with the lending rate.Average cost of deposits for NBFI sector dropped below 7.6% in last June, which was 230 basis points less than the June of 2020, he said citing Bangladesh Bank data. Half yearly net interest income improved on a year-on-year basis for many of the top NBFIs

Source: https://www.tbsnews.net/economy/what-drove-nbfis-half-yearly-profits-boost-291268

SBAC Bank appoints new AMD

The South Bangla Agriculture & Commerce (SBAC) Bank has recently witnessed the appointment of a new additional managing director. The appointee, M ShamsulArefin, was previously serving National Credit and Commerce Bank as managing director and chief risk officer. He started his banking career with Eastern Bank as a probationary officer in 1994 and subsequently worked at One Bank, ShahjalalIslami Bank, Jamuna Bank and Premier Bank. He obtained a BBA degree from Aligarh Muslim University and MBA degrees in finance, one from the University of Dhaka and another from North South University.

Source: https://www.thedailystar.net/business/economy/banks/news/sbac-bank-appoints-new-amd-2157711