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

Click to Close

Rate last updated: 02/01/2014 11:15:04 AM

Important Business News Extracts Jun 03, 2019

Imports up 5.36pc in 10 months

Country’s imports grew by 5.36 per cent in the first 10 months of the current fiscal year (FY) 2018-19 over that of the corresponding period of the last FY. According to the official, the growth was mainly due to higher import of intermediate goods and fuel oils. As per the BB, the actual import in terms of settlement of letters of credit (LCs) rose to US$ 45.79 billion during the July-April period of FY’19 from $ 43.46 billion in the same period of the previous fiscal. However, the import growth during first 10 months showed a downward trend. The downward trend may also continue during the May-June period of this fiscal year. Overall imports grew by 7.32 per cent and 9.04 per cent in the first nine and eight months of this fiscal year respectively.

Source: http://today.thefinancialexpress.com.bd/first-page/imports-up-536pc-in-10-months-1559496038

BB seeks release of Tk 3.0b for EEF’s farm projects

According to official, the Bangladesh Bank has requested the government to release Tk 3.0 billion to finance agriculture projects under the equity entrepreneurship fund (EEF). Official also added, some 2,308 applications have recently been submitted seeking loans, for food and agriculture-related projects from the EEF, which are now under processing. Officials said accepting fresh applications for funds under the EEF have remained suspended since 2017. After recasting the EEF policy, the fund authority in August last sought expression of interest (EoI) from entrepreneurs, who want to get loan from the fund. Until April this year, the authority received 2,308 loan applications for food processing and agriculture sectors and 10 for information and communications technology (ICT) sector.

Source: http://today.thefinancialexpress.com.bd/last-page/bb-seeks-release-of-tk-30b-for-eefs-farm-projects-1559496200

Number of BO accounts on rise

Around 65,235 new BO accounts were opened in the past five months as investors were more confident in pouring funds into the primary market rather than the secondary one. According to the brokers, guaranteed profit through initial public offerings (IPOs) encouraged the investors to hit the jackpot. To trade in the stock market and apply for primary shares, an investor has to open a BO (beneficiary owner’s) account with the Central Depository Bangladesh Ltd through a depository participant, which is usually a stockbroker or a merchant bank. The data as of May 30, 2019 showed the total number of BO accounts increased to 2,845,026 which was 2,779,791 in January 01, 2019. Among the BO account holders, 2,076,695 are males and 755,075 females, while the remaining 13,256 belong to different companies.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/number-of-bo-accounts-on-rise-1559490232

Online shops log Tk 120cr Eid sales

Eid shopping through online platforms reached Tk 120 crore in the first three weeks of Ramadan thanks to the growing popularity of e-commerce among consumers across the country. According to AKM Fahim Mashroor, Chief Executive Officer of ajkerdeal.com, compared to last year, the e-commerce industry has posted about 50 percent growth in sales this year, The industry’s overall order number was about 50,000 pieces from 10th Ramadan to 20th Ramadan, the peak time for e-commerce, up from about 35,000 last year.

Source: https://www.thedailystar.net/business/news/online-shops-log-tk-120cr-eid-sales-1752739

Mercantile Bank plans to set up venture capital firm

Mercantile Bank wants to set up a venture capital company as a subsidiary to finance and provide equity to startups. According to AKM Shaheed Reza, Chairman of the Bank, they have applied to the Bangladesh Securities and Exchange Commission for approval. The subsidiary will be named MBL Asset Management Company. Venture capital is a form of financing that investors provide to startup companies and small businesses that are believed to have long-term growth potential. But it is relatively a new idea in Bangladesh. Traditional lenders finance startups with normal loan products. But there are institutions that have set up subsidiaries to deal with the issue. LankaBangla Finance and IDLC Finance, two leading non-bank financial institutions, have set up venture capital companies. Mr. Reza said Mercantile Bank has a product named “Udayan” to bankroll startups. A startup company gets a maximum Tk 50 lakh as collateral-free loan.

Source: https://www.thedailystar.net/business/news/mercantile-bank-plans-set-venture-capital-firm-1752730

S. S. Steel tops weekly turnover chart on DSE

In last week, S. S. Steel featured a total turnover of above Tk 381.80 million and grabbed 10.32 per cent of the exchange’s weekly turnover. Of five sessions of last week, the Company’s share price rose for three sessions on the DSE. At the end of the week, the company’s share price closed at Tk 28.30 each which was 2.90 per cent higher than the closing price of the previous week. Meanwhile, the Company has reported its EPS of Tk. 0.65 for January-March 2019 against Tk. 0.45 for January-March 2018. The EPS was Tk. 1.61 for July 2018-March 2019 as against Tk. 1.03 for July 2017-March 2018.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/s-s-steel-tops-weekly-turnover-chart-on-dse-1559490298

Banks should be setting interest rates, not others

As per AKM Shaheed Reza, Chairman of Mercantile Bank, Banks should be the only ones setting the interest rates as they offer loans at rates that are based on factors like cost of funds, credit worthiness of a customer and the prevailing market condition. For example, he added, someone with a lower credit score may be at a higher risk of default, so a bank will charge the borrower more than a regular client. Mr. Reza also added, Banks should determine the interest rates, both on lending and deposit, considering the market trend. The government and the Central Bank have been trying their best to bring down the rising interest rates on lending, but that did not work.

Source: https://www.thedailystar.net/business/banking/news/banks-should-be-setting-interest-rates-not-others-1752310

Radisson, Prime Bank launch package offer

Radisson Blu Dhaka and Prime Bank have rolled out a joint campaign, offering the buy-one-get-one-room package at the hotel to the Bank’s cardholders. The Bank’s cardholders who book one night-room package will get another night free under the Twice the Twist promotion.

Source: https://www.thedailystar.net/business/news/radisson-prime-bank-launch-package-offer-1752706

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DSEX5,377.74607↑23.54863 ↑0.44%
DJIA24,815.04 ↓354.84↓1.41%
Nikkei 22520,361.76↓239.43↓1.16%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 52.94↓0.56↓1.05%
Crude Oil (Brent) $ 61.04↓0.95↓1.53%
Gold Spot $1,312.33↑6.75↑0.52%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 82.7857
GBP 1BDT 104.5200
EUR 1BDT 92.4524
INR 1BDT 1.1887





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