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 29, 2021

Credit growth rises moderately.

Private sector credit growth went up moderately in February to keep up with the recovering trend of the economy, but bankers say the rising coronavirus infections and deepening uncertainty have dipped the growth in March. The year-on-year credit growth stood at 8.93 per cent in February, up from 8.32 per cent a month earlier, data from the central bank showed. The February’s growth is also the highest since October last year.

Businesses commenced to expand their enterprises heavily last month riding on the slower coronavirus infection, but the momentum has faced a roadblock this month when the deadly flu started spreading in a consistent manner, said managing directors of three banks.

Industry insider said that the loan disbursement has declined to a large extent this month as credit appetite has nosedived due to the upward trend of the infection. They added that Funds disbursed by banks have already seen a slower trend in March than in February. Businesses moved to import capital machinery and industrial raw materials last month. a good number of letters of credit (LCs) to import commodity products were earlier opened to fulfil Ramadan demand, putting a positive impact on private sector credit growth. The outstanding loans in the private sector stood at Tk 11,53,511 crore as of February in contrast to Tk 11,40,023 crore the previous month.

Source: https://www.thedailystar.net/business/news/credit-growth-rises-moderately-2068561

WB now doubles GDP growth forecast.

The World Bank has more than doubled its gross domestic product (GDP) growth prediction for Bangladesh for the current fiscal year as the economy shows signs of recovery. The Washington-based lender expects the economy to grow 3.6 per cent in the FY2020-21, up from a projection of 1.6 per cent made in the Global Economic Prospects Update in January. “The economy is expected to recover gradually, with real GDP growth projected at 3.6 per cent in FY21,” the WB said in a document. The new prediction was made in a paper of the Bangladesh Third Programmatic Jobs Development Policy Credit.

The new GDP growth prediction is still far lower than the government’s estimate of 7.4 per cent for the current fiscal year. In January, the lender said in Bangladesh growth was estimated to have decelerated to 2 per cent in the last fiscal year. It is now projecting a growth of 2.4 per cent for FY20, according to the document, which was prepared in February. The government’s provisional estimate showed the GDP had grown by 5.24 per cent in the last fiscal year.

While downside risks are significant, Bangladesh has a record of sustained macroeconomic stability over the past three decades through various global crises, internal political instability and natural calamities, providing additional assurance of its capacity to handle the emerging macroeconomic risks in the near and medium-term, the WB said. “Bangladesh’s low debt to GDP ratio provides a significant buffer, and despite the increase in spending to deal with the pandemic, the country continues to be at low risk of debt distress.

Source: https://www.thedailystar.net/business/news/wb-now-doubles-gdp-growth-forecast-2068565

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 33,072.88
↑ 453.40 ↑ 1.39 %
FTSE100$ 6,740.59↑65.76 ↑0.99 %
Nikkei 225$ 29,498.64↑321.94 ↑1.10%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 59.52 ↓1.45↓2.38 %
Crude Oil (Brent)$ 63.20 ↓1.37↓2.12 %
Gold Spot$ 1728.14 ↓4.38↓0.25%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 84.8045
GBP 1BDT 116.9369
EUR 1BDT 100.0269





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