Dhaka Bank looks to spread its wings to fuel growth
Dhaka Bank is increasingly embracing technologies to serve customers digitally and enhancing its lending to small clients as it redesigns its focus to stay relevant. Our ultimate target is to become a paperless bank. We want to spread our wings,” said Abdul Hai Sarker, chairman of the private commercial bank, during an interview with The Daily Star. He shared the plans as Dhaka Bank celebrates its 30th founding anniversary today, marking the three-decade of unwavering progress and success. In 1995, the bank started its journey with an authorised capital of Tk 100 crore and a paid-up capital of Tk 10 crore. Now, its authorised capital has surged to Tk 2,000 crore while the paid-up capital jumped to Tk 1,006.6 crore. It has made its presence vibrant across the country with 116 branches, three SME service centres, 31 sub-branches, and 87 automated teller machines (ATMs). It also has two offshore banking units. As of June 30, deposits totalled Tk 29,119 crore while lending exceeded Tk 26,287 crore. Currently, 1,951 of its officials and employees are serving 960,900 clients. It has made its presence vibrant across the country with 116 branches, three SME service centres, 31 sub-branches, and 87 automated teller machines (ATMs). It also has two offshore banking units. As of June 30, deposits totalled Tk 29,119 crore while lending exceeded Tk 26,287 crore. Currently, 1,951 of its officials and employees are serving 960,900 clients.
Dhaka Bank has observed 29 years of banking excellence with the slogan, “Maintaining Steady Growth with Excellence’. A ‘dua-mahfil’ was arranged for improvement of the bank, its better contribution to the economy and good health for shareholders, bank employees at the bank’s head office in Gulshan, Dhaka.
Yarn import jumps 13% as local production chokes amid gas crisis
Bangladesh’s textile and spinning mills are struggling to produce yarn due to a lingering gas crisis which has led to a jump in yarn imports of about 13% as fabric and apparel makers look elsewhere to meet the demand. According to data from the Bangladesh Bank, the apparel industry imported yarn worth $2.64 billion in the July-April period of the just-concluded fiscal year, compared to products worth $2.34 billion during the same period in FY23. However, gas pressure drops to 1-2 PSI during the daytime, significantly impacting production which continues even into the night in the major industrial zones. Low gas pressure has crippled production forcing 70-80% of mills to operate at around 40% of their capacity.
Bangladesh’s garment shipment to the US, the south Asian nation’s single largest export destination, declined by 12.31 percent year-on-year to $2.9 billion in the January-May period because of lower import by the American retailers and brands from all over the world. The OTEXA undertakes industry analysis, contributes to US trade policy development, participates in trade negotiations and trade promotion, and addresses trade barriers. In May, clothing and accessories stores were up 1.44 percent month over month seasonally adjusted and up 6.24 percent year over year unadjusted, according to data from the National Retail Federation (NRF), the largest retail association in the USA.
In May, the four mobile phone operators in Bangladesh added 13.6 lakh new subscribers, while the number of internet users increased by 26.9 lakh, according to the Bangladesh Telecom Regulatory Commission (BTRC). The total mobile phone subscriptions rose to 19.51 crore in the month of May, up from 19.37 crore in April, as all four operators saw an increase in subscribers. Of them, the largest operator Grameenphone grew its subscriber base to 8.49 crore from 8.40 crore million, while the state-owned Teletalk added 20,000 new subscribers, bringing its total to 65.7 lakh. Meanwhile, Robi Axiata’s subscribers increased to 5.89 crore from 5.85 crore and Banglalink’s subscriber count edged up to 4.47 crore, following a significant increase the previous month.
Prime Bank signs MoU with National Pension Authority
Prime Bank has signed a memorandum of understanding (MoU) with National Pension Authority (NPA) recently. Kabirul Ezdani Khan, executive chairman of National Pension Authority, and Hassan O Rashid, chief executive officer (CEO) of Prime Bank, signed the MoU. Dr Md. Khairuzzaman Mozumder, secretary, Finance Division, Ministry of Finance, was the chief guest on the occasion. The MoU will enable Prime Bank to collect monthly installments from pension scheme holders under Universal Pension Scheme.
Major Currencies Exchange Rates Movement in Last Seven Days *
Inter-Bank Exchange Rates
Currency
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Current WAR
USD
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*World Commodities & Local and Global Stock Indices data are taken from bloomberg.com<
* Exchange Rates are taken from BB website, as on latest update.<
AN IMPORTANT MESSAGE FROM
EMRANUL HUQ
MANAGING DIRECTOR & CEO OF DHAKA BANK LIMITED
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.
YOUR SAFETY MEANS EVERYTHING TO US 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.
WE WILL TAKE CARE OF YOUR BANKING NEEDS 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.
GET IN TOUCH IF YOU ARE IN EXTREME EMERGENCY 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.
WE WILL FREQUENTLY UPDATE YOU 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