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
Rate last updated: 02/01/2014 11:15:04 AM
The Bangladesh Bank (BB) slashed the limit of advance-deposit ratio (ADR) on Tuesday to help check any possible liquidity pressure on the market due to the banks’ ‘aggressive’ lending. The ADR is re-fixed at 83.50 per cent for all the conventional banks and at 89 per cent for the Shariah-based Islamic banks. The existing ratios are 85 per cent and 90 per cent respectively. The banks must adjust it gradually by June 30, according to a notification, issued by BB on Tuesday. The banks have been instructed to submit their specific action plans in this connection to the Department of Off-site Supervision (DOS) of the central bank by February 7, it added. “We’ll monitor the action plans to ensure implementation of the revised ADR directive within the stipulated timeframe,” a BB senior official told the FE. He also said BB has re-fixed the ADR considering different indicators, including inter-bank dependence, classified loan situation and capital adequacy of the banks.
Source:
http://today.thefinancialexpress.com.bd/first-page/bb-cuts-adr-to-curb-banks-hefty-lending-1517333945
http://www.newagebd.net/article/33772/bb-cuts-adr-by-1-15pts-to-control-aggresive-lending
http://www.dhakatribune.com/business/regulations/2018/01/31/bangladesh-bank-cuts-deposit/
Economists find the new monetary policy statement wanting in adequate strategies to ensure quality bank lending as a counterbalance to excessive growth in private credits. During their critical appreciation of the just-issued MPS, they felt the need for some upward adjustments to the rates of interest on deposits to attract public deposit to the banking system. An interest hike, they feel, is in the interest of striking balance between lending and deposit, as the former tips the balance amid a reported ebb tide in deposit of money by people with the banks. The advance-deposit ratio (ADR) is unlikely to decline unless the high yield on national saving schemes drops, they observed Tuesday, a day after the central bank rolled out the latest monetary policy for the second half of the current fiscal.
Just six months ago, the banking sector was facing problems over surplus liquidity. A number of banks had to stop taking deposits to reduce the burden of extra liquidity which stood at around TK1.25 lakh crore. The problem was exacerbated by the fact that investors did not see attractive growth for private sector investments.
Source: http://www.dhakatribune.com/business/2018/01/30/banking-sector-facing-liquidity-crisis/
Bangladesh Bank yesterday expressed dissatisfaction over banks’ sluggish recovery rate given the surge in non-performing loans in the first nine months of 2017. At the end of September last year, the banking sector’s total classified loans stood at Tk 80,307 crore, up from Tk 62,172 crore in December 2016. During the period, the banks managed to recover Tk 10,340 crore. Subsequently, the central bank yesterday sat down with the managing directors of 24 banks that showed underwhelming performance in recovering default and written-off loans in the first three quarters of 2017 as their negligence had a negative impact on the banking sector. BB Deputy Governor SK Sur Chowdhury presided over the meeting that took place at the central bank headquarters in the capital.
Source: http://www.thedailystar.net/business/banks-asked-speed-loan-recovery-1527760
The Large Taxpayers Unit (LTU) under VAT wing Monday and Tuesday issued separate demand notices to three large taxpayers to pay VAT and excise duty worth Tk 2.12 billion. The notices were served on state-owned Dhaka WASA, private commercial bank Prime Bank Ltd and mobile operator Grameenphone Ltd. Of them, LTU on Monday issued final demand notices to Dhaka Wasa and Grameenphone. It also served primary demand notice on Prime Bank. Besides, the unit also sought explanation with valid documents for Tk 54.83 billion VAT exemption availed or claimed by Premier Bank within next three working days.
Source:
http://today.thefinancialexpress.com.bd/last-page/three-large-taxpayers-need-to-pay-tk-212b-in-vat-excise-duty-1517334387
http://www.newagebd.net/article/33773/nbr-asks-3-orgs-to-pay-tk-212cr-unpaid-taxes
Grameenphone’s net profit rose 21.4 percent year-on-year to Tk 2,740 crore in 2017 — the highest in its 21 years of operations in Bangladesh — thanks to rising data revenue and subscribers. “In 2017, we delivered a strong business performance amid a very competitive environment,” said Michael Patrick Foley, chief executive of the mobile operator, while disclosing the fourth quarter and full-year financial results at their headquarters in Dhaka yesterday. “We were able to achieve this growth through the focus on the strategic ambitions and solid execution in the market,” he said in a statement. GP’s revenue grew 11.8 percent year-on-year to Tk 12,840 crore in 2017. Data revenue rose 46.4 percent and voice revenue 9.5 percent. In the fourth quarter, total revenue went up 8 percent. The operator acquired 74 lakh new subscribers in the year, registering 12.7 percent growth.
Source:
http://www.thedailystar.net/business/gp-profit-rises-214pc-1527748
http://www.newagebd.net/article/33775/gp-profit-soars-217pc-on-rising-data-sales
http://www.theindependentbd.com/post/135212
In lieu of traditional bricks, locally-invented ‘green block’ is gradually becoming popular among realtors, as it is cheaper and disaster-resilient in a quake-vulnerable country. The Housing and Building Research Institute (HBRI), under the Ministry of Housing and Public Works, invented the item recently. It is now being used by the realtors, which has reduced their dependency on traditional building materials. People at HBRI in the city told the FE that the demand for the block is on the rise, as the private sector realtors are opting to use the disaster-resilient and environment-friendly construction material.
| Index Name | Close Value | Value Change | Percentage Change |
|---|---|---|---|
| DSEX | 6,127.80 | ↓48.65 | ↓0.79% |
| DJIA | 26,076.89 | ↓362.59 | ↓1.37% |
| FTSE100 | 7,587.98 | ↓83.55 | ↓1.09% |
| Nikkei 225 | 23,267.22 | ↓24.75 | ↓0.11% |
| Commodity | Close Value | Value Change | Percentage Change |
|---|---|---|---|
| Crude Oil (WTI) | $ 63.92 | ↓0.58 | ↓0.90% |
| Crude Oil (Brent) | $ 68.42 | ↓0.60 | ↓0.87% |
| Gold Spot | $ 1,338.78 | ↑0.19 | ↑0.01% |
| Exchange Rates | |
|---|---|
| USD 1 | BDT 83.09 |
| GBP 1 | BDT 117.72 |
| EUR 1 | BDT 103.22 |
| INR 1 | BDT 1.31 |
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