TT-Clean: 77.1 | TK BC-Selling: 78.1
TK OD-Sight: 76.88 TK | TC-Selling: 78.1 TK

TT-Clean: 77.1 | TK BC-Selling: 78.1
TK OD-Sight: 76.88 TK | TC-Selling: 78.1 TK


TT-Clean: 77.1 | TK BC-Selling: 78.1
TK OD-Sight: 76.88 TK | TC-Selling: 78.1 TK

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Rate last updated: 02/01/2014 11:15:04 AM

Daily Business News Flash March 21, 2023

Revenue collection up by 8.92pc during July-February period

The revenue collection by the National Board of Revenue (NBR) during the July-February period of the current fiscal year (FY23) witnessed an 8.92 per cent growth from income tax, VAT and customs with a collection of Tk 1.96 trillion. The revenue collection by the NBR during the same period of the last fiscal year (FY22) was Tk 1.79 trillion, reports BSS. Revenue board officials said out of the overall revenue collection of Tk 1.96 trillion during this eight-month period, Tk 591.98 billion will come from customs, Tk 764.01 billion from VAT and Tk 604.37 billion from income tax and travel tax. This overall revenue collection is, however, lower than the revenue collection target of Tk 2.19 trillion during this eight-month period. The NBR officials said that the revenue collection during the July-February period of the last fiscal year (FY22) from customs or import and export duty was Tk 567.26 billion which increased to Tk 591.98 billion during this period having a growth of 4.36 per cent.

Source: https://thefinancialexpress.com.bd/economy/bangladesh/revenue-collection-up-by-892pc-during-july-february-period

Foreign banks see spike in deposits

Foreign banks operating in Bangladesh registered an 8.57 per cent growth in deposits in the October-December quarter of 2022, the highest since 2018, as many savers shifted their funds from local banks amid a confidence crisis. Nine multinational lenders logged Tk 73,980 crore in deposits in the fourth quarter, up from Tk 68,143 crore in the third quarter, according to the Quarterly Scheduled Banks Statistics released by the Bangladesh Bank yesterday. On a year-on-year basis, the banks recorded a 14 per cent growth in deposits even though several well-known multinational banks offer lower interest rates on deposits compared to their local competitors. “Due to the perceived high-risk around a few local banks and financial institutions, cautious savers preferred to park their deposits with foreign banks despite lower returns,” said Mamun Rashid, a former CEO of Citibank, NA Bangladesh. State-owned commercial banks logged the second-highest growth in deposit collection followed by private banks. Government-owned banks witnessed their deposit grow by 0.96 per cent year-on-year to Tk 401,032 crore in the October-December quarter. Private banks, including Islamic ones, saw money parked by savers grow 0.22 per cent. Islamic banks lost Tk 11,426 crore in deposits as a section of savers withdrew funds amid a confidence erosion in the wake of allegations of loan irregularities in some shariah-based banks, according to the October-December quarterly report on Islamic banking of the central bank.

Source: https://www.thedailystar.net/business/economy/news/foreign-banks-see-spike-deposits-3276576

Romana re-elected Bank Asia Securities chair

Romana Rouf Chowdhury has been re-elected chairperson of Bank Asia Securities Limited in its 12th annual general meeting, said a press release. She is a director of Bank Asia Limited. She is also managing director of Sea Natural Food Limited, Sea Fishers Limited and Sea Resources Group. She is also a director of various sister concerns of Rangs Group. She obtained her MBA from Florida Institute of Technology and completed her graduation from BRAC University. She has also completed executive education from Harvard Business School and Columbia Business School. — New Age

Source: https://www.newagebd.net/article/197329/romana-re-elected-bank-asia-securities-chair

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
FTSE100$7,403.85 ↑68.45↑0.93%
Nikkei 225$26,945.67↓388.12↓1.42%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$66.90↓0.74↓1.09%
Crude Oil (Brent)$73.09↓0.70↓0.95%
Gold Spot$1,981.63↑2.79↑0.14%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 105.2690
BDT 107.0000

*World Commodities & Local and Global Stock Indices data are taken from bloomberg.com<

* Exchange Rates are taken from BB website, as on latest update.<




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.

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.

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.

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.

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