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 November 14, 2021

SoftBank investment to raise bKash’s valuation to $2bn

SoftBank Vision Fund II is injecting $250 million for more than 10% stake in bKash, according to Dr Ahsan H Mansur, chairman of Brac Bank, the majority stakeholder in the country’s leading mobile financial services (MFS) provider. The development has already raised bKash’s valuation to over $1,700mn and as soon as the Japanese tech investment giant’s subscription for the fresh shares completes, the valuation would increase to around $2 billion, equivalent to more than Tk17,000 crore, he said in a telephone interview with The Business Standard on Saturday. SoftBank Vision Fund II is set to own a 20% stake in bKash and it would buy less than a 10% stake from the undisclosed existing shareholders other than Brac Bank which has already announced that the deal would not reduce its shares in the MFS provider. When Ant Financials bought bKash’s 20% stake, the IMS provider was valued at $880mn and it took less than four years to more than double its valuation. During Ant Financials’ investment, bKash had less than 4 crore customers, Tk1,880crore in annual revenue and Tk2.5 lakh crore in transactions through cellphone accounts annually. The customer base has now crossed the 5.1 crore mark, the revenue stood at over Tk3,000crore and the transactions at Tk5.2 lakh crore in the last 12 months. Brac Bank shares soared to the upper circuit breaker at Tk48.7, gaining 9.9% at the Dhaka Stock Exchange on Thursday following the bKash investment disclosure.

Source: https://www.tbsnews.net/economy/softbank-investment-raise-bkashs-valuation-2bn-329299

Bangladesh offers best incentives for investors

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has urged French investors to take note of Bangladesh as an ideal destination for relocating industries. Manufacturers of Bangladesh are adopting greener technologies and modern production methods aligned with the 4th industrial revolution and challenges of climate change. among the world’s top 10 green garment factories, the top 7 were located in Bangladesh. MA Momen, vice president of the FBCCI, emphasised regular networking among the business people of Bangladesh and France to enhance bilateral trade and economic activities.

Source: https://www.thedailystar.net/business/economy/industries/investments/news/bangladesh-offers-best-incentives-investors-2229361

 bKash donates Tk 1.0m to BURO Healthcare Foundation

bKash has donated Tk 1.0 million to BURO Healthcare Foundation of BURO Bangladesh, one of the leading microfinance institutions in the country, to facilitate healthcare for the marginalized people, says a press release. BURO Bangladesh has been working to provide low-cost medical services to the rural and poor people through BURO Health Care Foundation. The donation from bKash will be spent for the rural and poor people’s health care.

Source: https://today.thefinancialexpress.com.bd/trade-market/bkash-donates-tk-10m-to-buro-healthcare-foundation-1636818580

 Walton Hi-Tech net profit soars 126pc

Walton Hi-Tech Industries, a leading local brand in electronics and electrical sector, saw a steep growth in its turnover for the fiscal year (FY) 2020-21 which aided a significant growth in its net profit. Riding on increased turnover, the company’s net profit soared 126 per cent or Tk 9.13 billion to stand at Tk 16.39 billion for the FY 2020-21 from Tk 7.26 billion for the previous FY. Of the net profit, the lion’s share of Tk 15.16 billion came from the sales of refrigerators and air conditioners. For the FY 2020-21, the company has reported its sales turnover of over Tk 71.96 billion, against above Tk 42.55 billion for the FY 2019-20. According to the annual report of the FY 2020-21, Walton saw 754.54 per cent growth in exports over the previous year. The company’s sponsor-directors hold 99.03 per cent shares, institutions 0.38 per cent, foreigners 0.10 per cent and general public 0.49 per cent as of September 30, 2021.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/walton-hi-tech-net-profit-soars-126pc-1636820610

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 36,100.31
↑ 179.08 ↑ 0.50 %
FTSE100$ 7,347.91↓ 36.27↓ 0.49 %
Nikkei 225$ 29,609.97↑ 332.11↑ 1.13 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 80.79 ↓ 0.80↓ 0.98 %
Crude Oil (Brent)$ 82.17↓ 0.70↓ 0.84 %
Gold Spot$ 1,864.90↑ 2.79↑ 0.15 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 85.7925
GBP 1BDT 115.0321
EUR 1BDT 98.5156





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