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 23, 2019

BB pushes banks to attain farm credit target

The central bank has asked commercial banks for taking effective measures to achieve their agro-credit disbursement targets by the end of this fiscal year. The instruction came at a special meeting with senior officials of 30 foreign and local private banks at the Bangladesh Bank (BB) headquarters in Dhaka on Tuesday. BB Agricultural Credit Department general Manager chaired the event where BB executive director was present as the chief guest. The banks, whose disbursement performance was below 50 per cent, made a commitment to achieving their targets by the end of fiscal year (FY) 2018-19. According to BB officials at the meeting, they also provided updated information on the overall agro-credit activity in line with the central bank’s requirements and BB will closely review the banks’ performance to help them achieve their targets by the end of FY ’19. The BB’s latest moves came against the backdrop of a falling trend in farm credit disbursement in recent months of this fiscal. The agriculture loan disbursement dropped by nearly 5.0 per cent to Tk 102.31 billion during the July-December period of FY ’19 from Tk 107.56 billion in the same period last fiscal. The next review meeting of all private commercial banks and foreign commercial banks is due for February 20 at the BB headquarters.

Source: http://today.thefinancialexpress.com.bd/first-page/bb-prods-banks-to-attain-farm-credit-target-1548178335

Banks’ CSR spending sees sudden rise

Private banks’ spending on corporate social responsibility (CSR) schemes for disaster management purposes witnessed a whopping 162 percent year-on-year rise last year. The expenditure aimed at distributing blankets and warm clothes for winter-stricken people hit Tk 480 crore in 2017-18, up from Tk 183 crore in 2016-17, according to Bangladesh Bank data. Banks had spent the amount either by own channels or through donations to the Prime Minister’s Relief and Welfare Fund. According to the central bank’s half-yearly report on philanthropic activities of banks, the higher expenditure for disaster management fuelled the total CSR spend in the second half of 2017 and in the first half of 2018. The banking sector’s total CSR expenditure almost doubled to Tk 1,045 crore in the last fiscal year, from Tk 541 crore a year ago. In April last year, the Bangladesh Association of Banks, the forum of directors of private commercial banks, donated Tk 163 crore to the PM’s relief fund. In the first half of 2018, banks spent Tk 247 crore for disaster management, the second highest after education among the eight sectors where CSR money could be spent. The amount was 39.36 percent of the entire CSR expenditure of Tk 627 crore, BB data showed.

Source: https://www.thedailystar.net/business/news/banks-csr-spend-sees-sudden-rise-1691374

Premier Bank leads DSE turnover chart

Top ten traded companies captured 27 per cent turnover of the Dhaka bourse on Tuesday while Premier Bank topped the chart after long time. Three banks — Premier Bank, Dhaka Bank and IFIC Bank featured in the top turnover chart, accounting for 11 per cent of the day’s total turnover. Market analysts said investors continued their focus on the banking sector’s issues amid dividend expectations. The banking sector also gained 0.70 per cent on the day as prices of 18 banks closed green, while seven declined and five remained unchanged. According to the data from the DSE, about 37.96 million shares of the Premier Bank were traded, generating a turnover of nearly Tk 607 million, which was 6.82 per cent of the DSE’s total turnover. The total turnover on the DSE stood at Tk 8.90 billion on Tuesday which was Tk 8.851 billion on the previous session. The bank’s share price closed at Tk 16.40 each, registering an increase of 9.33 per cent over the previous day. It was also the day’s third highest gainer. The Premier Bank, which was listed on the DSE in 2007, disbursed 15 per cent stock dividend for the year ended on December 31, 2017.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/premier-bank-leads-dse-turnover-chart-1548175109

Stocks edge up on GP, bank shares

Stocks finished slightly higher on Tuesday after volatile trading as some investors showed their buying appetite, particularly banking and telecommunication shares. Market analysts said investors were active on large-cap stocks on telecommunication, banking and power sectors, taking the market in the green territory. The telecom sector posted the highest gain of 1.20 per cent as the sector’s heavyweight Grameenphone’ share soared 1.12 per cent to close at Tk 388.90 each. The banking sector also rebounded gaining 0.70 per cent as prices of 18 banks closed green, out of 30. The insurance sector faced correction, snapping the recent sharp gain, losing 2.90 per cent. Prices of 41 insurance companies fell out of 47. Following the recent price surge, the prime bourse also served show-cause notices on 12 insurance companies. The companies separately informed the DSE Tuesday that there was no undisclosed price sensitive information for the recent unusual price hike of the shares.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/stocks-edge-up-on-gp-bank-shares-1548174991

Jul-Oct raw material imports rise 12pc

Import of industrial raw materials increased by nearly 12 per cent during the July-October period in 2018 compared to the corresponding period of the previous year. The rise in import was because of the fast growth in local investments. Economists attributed the increase in investment to political and economic stability that prompted the business community to invest more in the country. Raw material import showed positive growth, meaning that the existing companies were not facing problems with their business. According to a senior official of the Bangladesh Bank (BB), the local entrepreneurs were encouraged to invest more due mainly to a sound financial climate, and he expressed hope the higher import of industrial raw materials would help boost productivity in near future.

Source: http://today.thefinancialexpress.com.bd/last-page/jul-oct-raw-material-imports-rise-12pc-1548178853

BPDB, Chinese co to build 150MW plant

The state-run Bangladesh Power Development Board (BPDB) signed a deal with the Dongfang Electric International Corporation (DEC) of China on Tuesday to construct a 150-megawatt (MW) power plant in the country’s northern region. The plant will be built on 18 acres of land in Syedpur under Nilphamari district within 540 days by June 2021. It will be run with diesel, to be imported from India through a 130-km (kilometre) cross-country pipeline. The Chinese firm will build the power plant as the engineering, procurement and construction (EPC) contractor. The total cost to build the power plant has been estimated at around Tk 10 billion, of which the government will provide around Tk 3.02 billion. Besides, the BPDB will provide around Tk 2.15 billion from its own coffer, and the remaining Tk 4.83 billion will be project loan. The power plant will be built under the buyer’s credit, and the Bank of China will provide 85 per cent of the EPC cost worth US$ 68.49 m.

Source: http://today.thefinancialexpress.com.bd/first-page/bpdb-chinese-co-to-build-150mw-plant-1548178215

ECNEC approves eight projects involving Tk 18.93 billion

The Executive Committee of the National Economic Council (ECNEC) in its first meeting under the new government endorsed eight development projects involving a total of Tk 18.93 billion. Prime Minister Sheikh Hasina presided over the meeting held in the city on Tuesday. Emerging from the meeting, Planning Minister MA Mannan told reporters that the prime minister asked the ministries and agencies to implement the development projects in time meeting the quality standards. Jatrabari-Demra highway upgrade project is one of the eight projects approved in the meeting. Under the project, the Jatrabari-Demra highway (from Mayor Hanif Flyover to Sultana Kamal Bridge) would be upgraded into four-lane one at a cost of Tk 3.69 billion to facilitate smooth traffic movement and ease traffic congestion.


Large-cap companies help stocks keep afloat

Dhaka stocks inched up on Tuesday despite a fall in share prices of two-thirds of the traded scrips, as a section of investors purchased sector-specific large capitalised scrips while others went on selling shares for profits. DSEX, the key index of Dhaka Stock Exchange, added 0.10 per cent, or 6.15 points, to close at 5,865.46 points on Tuesday after losing 27.97 points in the previous session. According to the market operators the market started bullish but soon after moved downward before a flat finish and some investors went for investing on the sector-specific scrips amid expectations that the market would remain bullish in the months to come while others went on selling shares for profits. The investors were observing the market movement after the market hit an 11-month high in just a month. Despite the positive ending on Tuesday, share prices of two-thirds of the traded scrips dropped on the day as many investors continued selling shares to book profits to avoid any losses. The market finished up as average share prices of telecommunications, pharmaceutical, energy and bank advanced by 1.25 per cent, 0.79 per cent, 0.78 per cent and 0.63 per cent respectively.

Source: http://www.newagebd.net/article/62596/large-cap-cos-help-stocks-keep-afloat

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DSEX5,865.46428 ↑ 6.15985 ↑ 0.11%
DJIA24,404.48↓ 301.87 ↓ 1.22%
FTSE1006,901.39 ↓ 69.20↓ 0.99%
Nikkei 22520,631.54↑8.63↑0.04%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 52.57↓1.23↓ 2.29%
Crude Oil (Brent) $ 61.48↓0.02↓0.03%
Gold Spot$1,284.28↓0.94↓ 0.07%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 83.8273
GBP 1BDT 108.6653
EUR 1BDT 95.2949
INR 1BDT 1.1734





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