Banks, bourses remain closed on Aug 1, 4

The central bank has ordered all the scheduled banks to keep their operations closed on Sunday and Wednesday next week following higher coronavirous infections and deaths in Bangladesh recently. The central bank also asked the banks to provide services on a limited scale on August 01, 03 and 05 by keeping open their branches from 10 am to 4:00 pm instead of 3.00pm, according to a notification issued by the central bank on Wednesday. Banking transaction period has also been re-fixed from 10:00am to 2:30 pm instead of 10:00am to 1:30 pm earlier in each working day. The banks have also been asked to ensure transactions by arranging smooth operations of alternative delivery channels (ADCs) round the clock during the period. The ADCs cover the operations of ATM (automated teller machine), POS (point of sale), e-payment gateway, and mobile financial services (MFS). Meanwhile bdnews24.com adds: The stock market’s trading hours for next week have also been revised.

Source: https://today.thefinancialexpress.com.bd/first-page/banks-bourses-remain-closed-on-aug-1-4-1627495683

Most listed banks see whopping growth in EPS

Standard Bank has returned to profit in the second quarter (Q2) that ended on June 30, 2021 against the same quarter last year while Dutch-Bangla Bank’s earnings dropped slightly in April-June, 2021. IFIC Bank, NRB Commercial Bank, Eastern Bank have also posted between 88 per cent and 422 per cent EPS growth in April-June, 2021, according to filings with the Dhaka Stock Exchange (DSE) on Wednesday. Most listed banks have registered such whopping growth in EPS amid stable interest rate, bullish capital market, investing in bonds, and lower provisions against defaulted loans owing to the postponed loan classification, said a top banker, requesting anonymity. Standard Bank: Standard Bank’s un-audited consolidated earnings per share (EPS) stood at Tk 0.06 in April-June, 2021, as against loss of Tk 0.31 per share in the same quarter a year earlier. The bank’s consolidated EPS for six months that ended on June 30, 2021, also rose 283 per cent to Tk 0.23, up from Tk 0.06 in the same period last year. Following the news, its shares price rose 1.08 per cent to close at Tk 9.40 each on Wednesday. IFIC Bank: IFIC Bank has posted an impressive 422 per cent increase in its earnings in the second quarter that ended on June 30, 2021 compared to the same quarter of the previous year. The bank’s consolidated earnings per share (EPS) stood at Tk 0.47 in April-June, 2021 as against Tk 0.09 in the same period a year ago. The bank’s consolidated EPS for six months ended on June 30, 2021, also rose to Tk 0.91 for January-June 2021 as against Tk 0.51 for January-June 2020.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/most-listed-banks-see-whopping-growth-in-eps-1627494012

 New mobile financial service ‘tap’ launched

A new mobile financial and payment service Trust Axiata Pay, styled as ‘tap’, was launched on Wednesday. General S M Shafiuddin Ahmed, Chairman of Trust Axiata Digital Limited, company that owns ‘tap’, announced the commercial operation of the country’s newest mobile financial and payment service in an inaugural ceremony held at the Trust Bank head office in the city. HumairaAzam, managing director and chief executive officer of Trust Bank Limited said, “Trust Bank aims to provide the best banking services to the people of the country. This is the reason for our partnership with Axiata Group. I believe digital transaction services can reach new heights through this partnership.”`tap’ has brought the service aiming to promote cashless and universal banking meaning anytime-anywhere payments-transactions using mobile phones in Bangladesh. The service will cater to all customers, corporate and government payments like merchant shopping, bill payment, fund transfer, cash-out from agent, add money from bank, insurance bill, passport fees, utility bill, NID fee, tuition fees, mobile recharge and, e-commerce.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/new-mobile-financial-service-tap-launched-1627494071

 First Finance gets new MD & CEO

Mohammed Mosharaf Hossain has joined the First Finance Limited as its Managing Director and CEO recently. Mr Hossain started off his banking career in 1987 as a probationary officer of Uttara Bank Limited and worked in different branches as branch manager, Zonal Offices as zonal head and in different important departments of Head Office before serving as an Additional Managing Director of the bank. He obtained master’s degree in accounting from the Dhaka University.

Source: https://today.thefinancialexpress.com.bd/trade-market/nagad-to-issue-tk-50b-zero-coupon-bond-1627404002