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

Important Business News Extracts January 13, 2019

PCBs to map out strategy for cutting soured loans

Private commercial banks (PCBs) will devise strategies for curbing the volume of non-performing loans (NLPs) in the banking system. Chairman of the Association of Bankers, Bangladesh (ABB) Syed Mahbubur Rahman has been assigned to make a ‘working paper’ in this connection in the next 10 days. The decision was taken on Saturday at a joint meeting of the Bangladesh Association of Banks (BAB) and the ABB. Chairmen, managing directors and chief executive officers (CEOs) of most of the private commercial banks were present at the meeting, which was held at the BAB office in the city. At the meeting, the BAB assured the minister of not allowing the soured loans to go up further. The BAB would work on how to reduce the NPL rate in the banking system, the BAB Chairman told reporters after the meeting on Thursday. The volume of NPLs climbed by nearly 34 per cent or Tk 250.67 billion to Tk 993.70 billion as of September 30 from Tk 743.03 billion on December 31, 2017.

Source: http://today.thefinancialexpress.com.bd/first-page/pcbs-to-map-out-strategy-for-cutting-soured-loans-1547311000

Capital Market Expo begins on February 28

Bangladesh Capital Market Expo, a fair on capital market, will start on February 28 next. The fair will be continued till March 2 at Shilpakala Academy in the capital Dhaka, according to a release. Different merchant banks, stock brokers, asset management companies, credit rating agencies and listed companies will present their products and services in the fair. Seminar and discussions will be arranged in the fair and the chairman of the securities regulator and the representatives of different capital market-related associations will also attend the programmes. arthosuchak.com, a business web portal, is organising the capital market expo.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/capital-market-expo-begins-february-28-1547309039

Exports prove a boon for paper mills

Increasing export of paper and tissue has created a window for local mills to utilise their huge unused capacity and bring home foreign currency. Bangladesh’s 110 paper mills, with a capacity of producing more than 15 lakh tonnes of paper and paper products annually, can use less than half of their capacity as domestic demand hovers around 9-10 lakh tonnes. Under the circumstances, the opportunity for export, which opened nearly a decade ago and gradually expanded, has become a boon for the capital-intensive paper industry. As a result of overcapacity, a portion of the mills are on the brink of closure. Bashundhara is the biggest exporter out of more than 20 mills that export writing paper, facial and toilet tissue and packaging materials to 30 countries. Export of paper and paper products soared 63 percent to $16.24 million in 2018 from that a year ago, according to data compiled by the Bangladesh Paper Mills Association (BPMA). Export Promotion Bureau (EPB) data showed that the total shipment of paper and tissue rose 54 percent year-on-year to $8.37 million in the July-December period of the current 2018-19 from that a year ago.

Source: https://www.thedailystar.net/business/news/exports-prove-boon-paper-mills-1686010

BBS Cables, Olympic Industries dominate weekly turnover chart

Top 10 turnover leaders featured a total transaction of above Tk 9.0 billion, snaring 18.28 per cent in last week on Dhaka Stock Exchange (DSE). The premier bourse featured a turnover of above Tk 49.25 billion in five sessions of the week. BBS Cables topped the weekly turnover chart with a value of Tk 1.25 billion. The company grabbed 2.55 per cent of total market turnover observed in last week. The company’s share price closed at Tk 110.60 each on Thursday from Tk 107.80, the closing price of previous week. Olympic Industries featured a turnover of above Tk 1.10 billion and grabbed 2.24 per cent of total market turnover in last week. The company’s turnover rose 18.70 per cent in last week compared to previous week. The company’s share price closed at Tk 258.40 each on Thursday from Tk 217.70, the closing price of previous week.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/bbs-cables-olympic-industries-dominate-weekly-turnover-chart-1547309158

BAB, ABB hold joint meeting on reducing defaulted loan

Two associations of bank owners and top executives on Saturday held a joint meeting on devising ways to reduce defaulted loans. The joint meeting of BAB and ABB followed two separate meetings between BAB and Mustafa Kamal and ABB and the finance minister at Planning Commission on Thursday. Not only that, bankers will also have to recover bad loans, amount of which is a great concern for the nation. Bank owners under the banner of BAB would provide lists of defaulted loans and defaulters that would be crosschecked with the data from Bangladesh Bank and financial institutions division. Bank owners agreed to the condition (no new loan would be classified) attached by him prior to the meeting.

Source: http://today.thefinancialexpress.com.bd/trade-market/move-on-to-import-raw-sugar-for-first-time-1547306495

United Power Generation witnesses steady growth

United Power Generation & Distribution Company (UPGDC) posted a steady growth in dividend disbursement in last few years. During the period, the company’s earnings per share (EPS) also rose moderately. The UPGDC, formerly known as Malancha Holdings began operation for ensuring uninterrupted, quality power supply to the industries housed within the country’s Export Processing Zones (EPZs). Presently the company is involved in power generation, distribution, steam generation and supply up to their customer’s doorsteps. The UPGDC reported its EPS of Tk 5.89 and Tk 8.3 for the calendar years 2013 and 2014. The EPS was Tk 15.57 (18 months) till June 30, 2016. Later, the company reported its EPS of Tk 10.46 and Tk 11.51 for the fiscal year (FY) 2016-17 and FY 2017-18 respectively. The company disbursed 35 per cent cash dividend in 2013 and 30 per cent cash and 10 per cent stock dividend in 2014.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/united-power-generation-witnesses-steady-growth-1547308939

Stocks soar for 4th week as banks, GP surge

Dhaka stocks jumped last week, extending the gaining streak to the fourth consecutive week, amid a strong participation of investors as they continued buying shares, especially from financial scrips and Grameenphone after their year-long losses. The daily average turnover on Dhaka Stock Exchange soared by 37.36 per cent to Tk 985.12 crore in last week from Tk 717.18 crore in the previous week. DSEX, the key index of DSE, soared 3.70 per cent, or 206.83 points, to close at 5,797.30 points on Thursday, the last trading session of the week. The DSEX gained 545.45 points in last four weeks. The market witnessed a bullish week amid increased turnover as investors kept purchasing shares after the December 30 national elections. The investors who were in the side line last year for political anxiety returns their investment as the core index has been recovering from its early losses

Source: http://www.newagebd.net/article/61624/stocks-soar-for-4th-week-as-banks-gp-surge

Move on to import raw sugar for first time

The government has made a move to import raw sugar to boost its stock, for the first time, to address huge shortages of the sweetener, Abul Rafique, chief of personnel and secretary of Bangladesh Sugar and Food Industries Corporation, said, “A project is underway to whiten imported raw sugar to meet the growing local demand.” “We’ve done a feasibility study and prepared a draft development project proposal (DPP) which is already in industries ministry for approval,” he added. Mr Rafique said the DPP will be submitted to planning commission after the ministry’s approval. The Executive Committee of the National Economic Council approved the project last year,The government will import an estimated 15,000 tonnes of unrefined sugar annually. The imported sugar will be whitened at five state-run sugar mills.

Source: http://today.thefinancialexpress.com.bd/trade-market/move-on-to-import-raw-sugar-for-first-time-1547306495

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DSEX5,797.30468 ↓1.28644 ↓0.02%
DJIA23,995.95↓ 5.97↓ 0.02%
FTSE1006,918.18↓ 24.69↓ 0.36%
Nikkei 22520,359.70↑ 195.90 ↑0.97%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 51.59↓ 1.00↓ 1.90%
Crude Oil (Brent)$ 60.48↓ 1.20 ↓1.95%
Gold Spot$1,290.25 ↑ 3.60 ↑ 0.28%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 83.6475
GBP 1BDT 107.4368
EUR 1BDT 95.9353
INR 1BDT 1.1866





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