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 October 19, 2022

9 sectors hold 70pc bad loans

Around 70 per cent of default loans in the banking sector is concentrated in nine sectors of the economy as many borrowers are finding it difficult to pay instalments for the dragging economic slowdown while willful defaulters are also a major factor.  The nine sectors are ship-building and ship-breaking, small and medium enterprises, leather, trade, textile, readymade garment, transport, credit card, and non-bank financial institutions (NBFIs). Non-performing loans in the sectors stood at Tk 71,030 crore in December out of a total default loan of Tk 101,935 crore, according to the Financial Stability Report released by the Bangladesh Bank on Monday. The business slowdown stemming from the coronavirus pandemic along with the ongoing economic crisis has hurt the borrowers in the nine sectors. In addition, banks also gave out loans without following corporate governance, pushing up NPLs. As of December, banks disbursed funds to the tune of Tk 20,236 crore to the ship-building and ship-breaking industry. Of the sum, 18.87 per cent has turned bad. Emranul Huq, managing director of Dhaka Bank, says willful defaulters have mainly brought woes for the ship-breaking sector, the second-largest in the world after India in 2022.

Source: https://www.thedailystar.net/business/economy/news/9-sectors-hold-70pc-bad-loans-3146451

Prices of most commodities drop in global market – Says World Bank

Most commodity prices declined globally in September, according to the World Bank, extending some relief to the import-dependent countries under pressure for higher import bills and runaway inflation.  Energy prices fell 8.1 per cent in September, led by a decrease in natural gas and crude oil prices, the World Bank’s Pink Sheet reported on October 10. The Pink Sheet is a monthly report that monitors commodity price movements. Natural gas prices were down 15.6 per cent and crude oil dropped 8.1 per cent last month. Non-energy prices fell 1.7 per cent. Agricultural prices eased 0.8 per cent in September. Food prices changed little as a group as a 6.9 per cent increase in grains was balanced by a 3.8 per cent fall in edible oils, the WB said. Beverage and raw material prices declined 0.5 per cent and 4.8 per cent, respectively.

Source: https://www.thedailystar.net/business/economy/news/9-sectors-hold-70pc-bad-loans-3146451

App-based economy expands, leaving workers unprotected

The growing popularity of on-demand online booking for a wide range of services – from ride sharing to repairing tasks or house help – or e-commerce orders is causing a mushrooming growth of relevant online platforms in the country. Also, more and more app-based gig workers, mostly the youth, are serving them as independent contractors for a living wage through freelancing, instead of waiting for the desired status as an employee.  In 2021, Bangladesh’s gig workforce grew to around three lakh location-based gig workers, while around five lakh cloud workers made the country the second-largest online outsourcing destination. However, the platform economy is expanding without adequate protection of the gig workers’ interests, reveals a study by Oxford Internet Institute’s Fairwork project in partnership with local social enterprise iSocial and research firm DataSense. 

Source: https://www.tbsnews.net/economy/app-based-economy-expands-leaving-workers-unprotected-515318

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
↑ 337.98 ↑ 1.12%
FTSE100$ 6,936.74↑ 16.50↑ 0.24%
Nikkei 225$27,303.82↑ 147.68↑ 0.54%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$83.73 ↑ 0.91↑ 1.10%
Crude Oil (Brent)$90.50 ↑ 0.47↑ 0.52%
Gold Spot$1,649.32 ↓ 2.90↓ 0.18%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 100.0300
BDT 102.7200

*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