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 May 14, 2024

Credit card use up 17% in March

Transactions with credit cards rose 17 percent in March compared to the preceding month thanks to higher purchasing tendency among consumers. Bangladesh Bank data showed that transactions through credit cards increased to Tk 3,490 crore in March. Of the amount, Tk 2,985 crore was spent within the country while the remaining was spent abroad. On the other hand, credit card transactions within Bangladesh by foreign nationals declined 6 percent to Tk 226 crore. Within Bangladesh, credit card transactions at departmental stores increased to Tk 1,381 crore in March. In addition, the clothing category experienced a substantial increase from Tk 150 crore in February to Tk 344 crore in March due to the Eid-ul-Fitr festival, according to a monthly report regarding credit card transactions. Analysing cross-border transactions, it was seen that the majority of credit card transactions occurred in India, which accounted for approximately 21 percent of foreign transactions.

Source: https://www.thedailystar.net/business/economy/news/credit-card-use-17-march-3609146

Deposit growth falls to 10% in March – lowest in five months


Bangladesh’s banking sector witnessed a five-month-low deposit growth in March this year registering below 10% compared to the same month of the previous year, while people’s in-hand cash rose. According to data from the central bank, total deposits reached a staggering Tk16.75 lakh crore in March, reflecting a year-on-year growth of 9.99%. Of this, time deposits have witnessed a growth of 10.37% and demand deposits 7.64%. The overall deposit growth was 10.43% in February. Deposit growth surpassed 10% for three consecutive months, reaching a 28-month high of 11.04% in December 2023 – a significant improvement compared to the slowdown observed in September 2021, when the growth rate dipped due to the global pandemic’s economic impact. All banks, regardless of financial health, have raised deposit interest rates. While established banks typically offer rates between 9% and 10%, some struggling banks are resorting to much higher rates, reaching up to 12%, to attract deposits. This overall increase in deposit rates, partly driven by the central bank’s policy rate hike of 8.5%, is contributing to the observed growth in deposits across the banking sector.

Source: https://www.tbsnews.net/economy/banking/deposit-growth-falls-10-march-lowest-five-months-849631

Double-digit inflation hits food, health – strains household budgets

Food inflation soared to a five-month high of 10.22% in April while inflation in the health sector surged to 13.69%, according to data released by the Bangladesh Bureau of Statistics on 13 May. Food price inflation was at 10.76% earlier in November last year. It decreased to single digit the following month, and by March, the rate stood at 9.87%. The health sector saw a substantial increase in April from 2.16% in March. Notably, rural health inflation far surpassed urban rates, hitting 17.04% in April compared to just 1.31% in March. Urban health inflation rose to 7.14% from 4.37% in March. Non-food inflation, on the other hand, stood at 9.64% in March and slightly dipped to 9.34% in April.

Source: https://www.tbsnews.net/economy/food-inflation-surges-1022-april-highest-five-months-849976

Grameenphone partners with bKash

Grameenphone, the country’s smart connectivity provider, has partnered with bKash, the largest Mobile Financial Service (MFS) provider, for enabling its customers to seamlessly open bKash accounts directly within the MyGP app. This seamless account opening functionality integrated within the MyGP app, setting a new standard for accessibility and ease-of-use. This pioneering initiative marks the first of its kind in Bangladesh, solidifying Grameenphone and bKash as major forces driving innovation in their respective industries. This collaboration has enabled bKash customer registration process within the MyGP app by simply clicking on the dedicated section. Upon consent and few verifications, customers are swiftly transitioned to the bKash registration platform, where users can proceed to fulfill the eKYC (electronic Know Your Customer) process and follow the required steps.

Source: https://today.thefinancialexpress.com.bd/trade-market/grameenphone-partners-with-bkash-1715622285

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 39,431.51
↓ 81.33↓ 0.21 %
FTSE100$ 8,414.99↓ 18.77↓ 0.22 %
Nikkei 225$ 38,160.97↓ 18.49↓ 0.05 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 79.23↑ 0.11↑ 0.14 %
Crude Oil (Brent)$ 83.48 ↑ 0.12↑ 0.14 %
Gold Spot$ 2,344.26↑ 7.94↑ 0.34 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Inter-Bank Exchange Rates
CurrencyLowestHighestCurrent WAR

*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