Even with relaxed repayment, banks waive Tk1,855cr interest in 2021
Despite relaxed repayment facilities and quite usual economic activities, banks waived Tk1,855 crore loan interest in 2021 – which is Tk277 crore more than what it was in the previous year. Top banking experts have termed the rise in loan waiving “a bad signal” to the sector, as efforts to check the default loan turn futile. They said banks had to provide the customers with a bigger cushion during the Covid-hit 2020, as the respites included waiving more interest and relaxing repayment facilities. According to the Bangladesh Bank, banks waived Tk1,194 crore interest in 2018 as the figure jumped to Tk2,293 crore next year. It dropped slightly to Tk1,578 crore in 2020, and spiralled again to Tk1,855 crore last year. Since the facility was introduced in 2003, a total of Tk58,468 crore has been written off till December 2021. Banks wrote off more than Tk2,440 crore till December 2021, while the amount in previous year was Tk970 crore. According to the central bank, ten banks failed to maintain their capital base by the end of 2021 as their capital shortfall stood at Tk34,639 crore.
Air passengers likely to grow threefold by 2040
Bangladesh’s domestic and international airline passengers as well as cargo traffic are expected to increase around three times between 2019 and 2040, according to aircraft maker Airbus. The number of domestic and international air passengers in the country is also likely to grow at 5.9 per cent annually which is twice the world average over the period. The high-ups of the Europe-origin aerospace company made the predictions at a ceremony organised at VVIP Terminal of Hazrat Shahjalal International Airport (HSIA) on Sunday to demonstrate its A350 series. Bangladesh’s aviation market is now growing at 9.0 per cent annually which is 50 per cent higher than the global average of 6 per cent. It is the only all-new design aircraft in the 300 to 410-seater categories, offering the lowest cost per seat of any large widebody.
ONE Bank arranges $17.78m for Technaf Solartech
ONE Bank has recently arranged a syndicated IPFF II Facility of USD 17.78 million for Technaf Solartech Energy Limited, a concern of Expo Group. Bangladesh Infrastructure Finance Fund Limited (BIFFL) and ONE Bank Limited (OBL) have jointly participated in the subject finance in USD for 13 years through a syndication led by OBL. Technaf Solartech has been operating a 20 MW national grid-tied solar power plant located on the shores of the Naf river in Teknaf under a power purchase agreement with the Bangladesh Power Development Board for 20 years.
Local and Global Stock Indices *
|Index Name||Close Value||Value Change||Percentage Change|
|↑ 274.17||↑ 0.80 %|
|FTSE100||$ 7,404.73||↑ 19.39||↑ 0.26 %|
|Nikkei 225||$ 26,827.43||↑ 174.54||↑ 0.65 %|
World Commodities *
|Commodity||Close Value||Value Change||Percentage Change|
|Crude Oil (WTI)||$ 107.88||↑ 3.18||↑ 3.04 %|
|Crude Oil (Brent)||$ 111.05||↑ 3.12||↑ 2.89 %|
|Gold Spot||$ 1,926.57||↑ 4.95||↑ 0.26 %|
Major Currencies Exchange Rates Movement in Last Seven Days *
|USD 1||BDT 86.00|
|GBP 1||BDT 113.3824|
|EUR 1||BDT 95.1074|
*World Commodities & Local and Global Stock Indices data are taken from bloomberg.com<
* Exchange Rates are taken from BB website, as on latest update.<