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 Jul 07, 2019

Dhaka Bank celebrates Anniversary: to emphasize more on Retail & SME, says CEO

Dhaka Bank will decentralise its loan concentration from corporate to retail and small and medium enterprises (SME) to minimise credit risk, said the top Executive of the leading Private Commercial Bank (PCB) recently. The second generation PCB is also aiming to bring more trailblazing digital products in its Banking procedures shortly, its Managing Director and CEO Syed Mahbubur Rahman said. The Bank celebrated 24th anniversary on July 5. The loan portfolio of the Bank now is heavily concentrated on corporate sector, which is around 80 per cent. Corporate loan in the Bank was around 90 per cent a few years back.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/dhaka-bank-to-expand-businesses-embarking-on-sme-digitisation-1562427325

Mutual funds see highest price appreciation last week

The listed mutual funds (MFs) saw the highest price appreciation in last week despite the turnover is yet to be significant compared to that of other sectors. The sector comprising 37 closed-end MFs witnessed 9.30 per cent return in unit prices compared to the previous week, according to a weekly review of EBL Securities. The prices of the units of many funds rose marginally in last week amid price corrections witnessed by other major sectors on the Dhaka Stock Exchange (DSE). The DSE’s weekly gainers chart was also dominated by the closed-end MFs. Of top 10 gainers of last week, six were MFs.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/mutual-funds-see-highest-price-appreciation-in-last-week-1562427541

Loan terms mismatch leads to NPL buildup: Economists

The Banking sector in the country is now trapped into “loan terms” as banks take short-term deposits from clients, but provide long-term loan to industries, speakers said on Saturday. They said the loan term gaps in Banks have led to a substantial amount of non-performing loans, liquidity crisis and higher interest rate, which are inter-linked, standing in the way of a healthy Banking sector. They also said the country needs to develop and strengthen sources of long term financing other than Banks to facilitate sustainable funds for robust industrialisation. To do so, they said the policy makers should focus on strengthening the capital market, setting up robust bond market and developing financial institutions that can provide long-term financing to industries.

Source: http://today.thefinancialexpress.com.bd/first-page/loan-terms-mismatch-leads-to-npl-buildup-liquidity-crunch-1562430608

Revenue collection target realistic given GDP growth

The revenue collection target set for the current fiscal year is achievable but evasion and payment of less than the actual amount of tax keep the collection lower, said the head of the National Board of Revenue yesterday. “The target we set is achievable given the existing economic activities in the country. But, the problem is that the tendency to pay less or no tax is more intense in our country,” NBR Chairman Md Mosharraf Hossain Bhuiyan. The NBR has been assigned to collect Tk 325,000 crore in tax this fiscal year and the target is 40 percent higher than the actual collection of fiscal 2018-19.

Source: https://www.thedailystar.net/business/news/revenue-collection-target-realistic-given-gdp-growth-1767607

Seminar on financial literacy begins tomorrow

A four-day regional seminar on financial literacy will begin in Dhaka tomorrow. Bangladesh Securities and Exchange Commission (BSEC) and the Asian Development Bank (ADB) will jointly organise the event at Pan Pacific Sonargaon Dhaka. Saifur Rahman, an Executive Director of the stock market regulator, announced the programme schedule at a press meet at the BSEC office yesterday.

Source: https://www.thedailystar.net/business/banking/news/banks-contributing-deepening-inequality-1767616

Sea Pearl Beach Resort to make debut on DSE, CSE Tuesday

Sea Pearl Beach Resort & Spa Ltd is set to make its share trading debut on Tuesday (July 09) on the bourses under ‘N’ category, according to officials. Sea Pearl Beach Resort & Spa Limited (the owner of “Royal Tulip Sea Pearl Beach Resort & Spa Cox’s Bazar”), a luxury resort & hotel in Bangladesh, started its commercial operation from 17 September, 2015. The Company raised a fund worth Tk 150 million from the capital market by floating 15 million ordinary shares at a face value of Tk 10 each using the fixed price method. The securities regulator — Bangladesh Securities and Exchange Commission — approved the IPO proposal of the Company on February 19 this year.

Source: https://thefinancialexpress.com.bd/stock/sea-pearl-beach-resort-to-make-debut-on-dse-cse-tuesday-1562387918

Mercantile Bank gets new Chairman

Lawmaker Morshed Alam has been elected Chairman of Mercantile Bank. The election took place at the 345th board meeting, the bank said in a statement yesterday. Mr. Alam is the founder Chairman of the Bengal Group of Industries, Chairman of private satellite television channel RTV and a former Chairman of National Life Insurance Company.

Source: https://www.thedailystar.net/business/banking/news/mercantile-bank-gets-new-chairman-1766881

ACI Motors sponsors musical solution

ACI Motors, a subsidiary of ACI Limited is venturing into the world of musical solution for the first time in the company’s history. As the sole distributor of musical goods manufactured by Yamaha Corporation, Yamaha Music Bangladesh – ACI Motors Ltd. has launched their flagship music store at Jamuna Future Park in the East Court.

Source: https://thefinancialexpress.com.bd/trade/aci-motors-sponsors-musical-solution-1562397666

SJIBL inks MoU with RANGS Electronics

Shahjalal Islami Bank Limited signed a Memorandum of Understanding (MoU) with Rangs Electronics Limited (Sony Rangs) recently at Bank’s Corporate Head Office. Under this Memorandum of Understanding (MoU) all Credit Card Holders of Shahjalal Islami Bank Ltd. will be able to purchase different types of offered electronics goods for different tenure such as 3, 6 & 12months @ 0% profit rate.

Source: https://thefinancialexpress.com.bd/trade/sjibl-inks-mou-with-rangs-electronics-1562398350

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
Nikkei 225 21,746.38↑43.93↑0.20%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 57.51↑0.17↑0.30%
Crude Oil (Brent)$ 64.23↑0.93↑1.47%
Gold Spot $1,399.45 ↓16.63 ↓1.17%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 82.9030
GBP 1BDT 103.7940
EUR 1BDT 93.0528
INR 1BDT 1.2103





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