Bank accounts with above Tk1cr increases by 4,860 in 3 months
The number of bank customers with at least Tk1 crore in their accounts increased by 4,860 in the April-June period, despite the upward trend of inflation in the country, according to a report of the Bangladesh Bank. At the end of March this year, the number of bank accounts with crores of taka in the country was 1,03,597, which increased to 1,08,457 at the end of June – a 4.69% increase. In March 2020, when the Covid-19 pandemic hit the country, the number of accounts holding more than Tk1 crore in the banks was 82,625. According to the Bangladesh Bank data, the number of such accounts crossed one lakh in September 2021. At the end of June this year, the amount of deposits in these accounts was Tk6,80,362 crores. At the end of March, there were Tk6,63,505 crores in these accounts. At the end of December 2021, there was Tk6,53,858 crore in such accounts. Currently there are 85,848 accounts with Tk1 crore to Tk5 crore. These accounts hold more than Tk1,76,000 crore, which is 11.24% of total deposits in the banks. Besides, the number of accounts with over Tk50 crores is 1,805, which hold over Tk2,36,000 crores –15.05% of total deposits in the country’s banks.
BB halts 360-day special repo facility
Bangladesh Bank (BB) has scrapped the 360-day special repo facility due to the improvement in the coronavirus situation and a lack of demand for the borrowing tool, reports BSS. The central bank introduced the special repo on May 13, 2020 in order to implement the stimulus packages and to ensure smooth liquidity management, as per a BB circular issued on Tuesday. A repurchase agreement, or repo, is a short-term agreement to sell securities in order to buy them back at a slightly higher price. Under the special repo, banks and financial institutions were able to borrow against additional treasury bills and bonds of statutory deposit rate with the BB.
Dhaka Bank holds business review meeting in Chattogram
The business review meeting-2022 of Dhaka Bank Limited for Chattogram City branches was held at Radisson Blu Chattogram Bay View in Chattogram recently. Chairman of the board of directors of Dhaka Bank Abdul Hai Sarker presided over the meeting, said a press release. The meeting reviewed the budget until August 2022 and chalked out future plans and programmes for achieving the yearly target. Dhaka Bank Director Altaf Ahmed Sarker, founding vice-chairman ATM Hayatuzzaman Khan and Managing Director and CEO Emranul Huq were present on the occasion. Dhaka Bank Additional Managing Director Mohammad Abu Jafar, Deputy Managing Director AKM Shahnawaj, Chief Financial Officer Sahabub Alam Khan and Head of Retail Business HM Mostafizur Rahaman, regional manager of Chattogram, branch managers and operations managers of 11 Chattogram City branches along with four in-charge of sub-branches attended the meeting.