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 November 28, 2019

Volume of NPL up 24pc in Q3

The volume of classified loans in the country’s banking sector rose further to hit an all-time high at Tk 1.16 trillion (1.16 lakh crore) at the end of the third quarter of current calendar year despite close monitoring of the central bank. The volume of non-performing loans (NPLs) jumped by nearly 24 per cent or Tk 223.77 billion to Tk 1,162.88 billion as of September 30 last, from Tk 939.11 billion on December 31, 2018, suggest the latest Bangladesh Bank(BB) statistics. The amount of classified loans was Tk 993.71 billion a year ago. On May 16 last the central bank offered the special facility to the loan defaulters-rescheduling their loans by making a down payment of 2.0 per cent for a maximum of 10 years. However, the amount of NPLs increased by more than 3.0 per cent or Tk 38.63 billion to Tk 1,162.88 billion in the third quarter (Q3) of the current calendar year from Tk 1,124.25 billion in the preceding quarter (Q2). The share of classified loans also rose to 11.99 per cent of the total outstanding loans in September from 10.30 per cent nine months ago. It was 11.69 per cent on June 30, 2019. The default loans include substandard, doubtful and bad/loss portions of the total outstanding credit, which stood at Tk 9,698.82 billion as of September 30, 2019, up from Tk 9,114.30 billion as of December 31, 2018. On September 2018 the figure was Tk 8686.08 billion. In September the total amount of NPLs with six state-owned commercial banks (SoCBs) rose to Tk 549.22 billion, from Tk 486.96 billion on December 31, 2018. It was Tk 537.45 billion as of June 30 last. On the other hand, the total amount of classified loans with 40 private commercial banks (PCBs) rose to Tk 545.74 billion in Q3, from Tk 381.40 billion in the final quarter of the last calendar year. It was Tk 519.24 billion as of June 30 last.

Source: https://today.thefinancialexpress.com.bd/first-page/volume-of-npl-up-24pc-in-q3-1574877396

BSEC approves Tk 6.0b Islami Bank Bond

The securities regulator has approved a Mudaraba Redeemable Non-convertible Subordinated Bond worth Tk 6.0 billion in favour of Islami Bank Bangladesh Limited. The approval was given at a commission meeting, presided over by Bangladesh Securities and Exchange Commission Chairman M Khairul Hossain, held at its headquarters, said a BSEC statement on Wednesday. The tenure of the fully redeemable non-convertible, unsecured, non-listed subordinated bond will be seven years. The fund will be raised to strengthen the bank’s Tier-2 capital base. The face value of each unit of the bond will be Tk 10 million. As per the BSEC approval, the state-run company will issue more than 251.81 million ordinary shares, aiming to raise Tk 2.51 billion from the existing shareholders. The securities regulator approved the Power Grid Company’s proposal through vendor’s agreement. It is mentionable that under the 5th and 6th vendor’s agreements in 2002 and 2007, BPDB transferred electricity transmission line, rehabilitation, renovation, & augmentation of grid substation, vehicle & other transmission infrastructure assets worth Tk 171.74 million and Tk 2.34 billion (Total Tk 2.51 billion) respectively to the Power Grid Company. Now the company will make it capital by issuing ordinary shares.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/bsec-approves-tk-60b-islami-bank-bond-1574871915

BRAC Bank wins Mastercard POS Acquiring Business Award

BRAC Bank Limited has received the award for ‘Excellence in Mastercard POS Acquiring Business 2018-19′ category from Mastercard for its performance for the period of July 2018 to June 2019. Mastercard organised the programme to celebrate the 28th anniversary of its presence in Bangladesh and six years of its Bangladesh Office. Consumers’ expectations about their experiences with brands are changing. The future of loyalty needs to be re-imagined to enable seamless digital experiences and we believe our unique and lucrative cards proposition and extensive acquiring presence with innovative services will categorically meet the evolving needs of the customers. This prestigious recognition from Mastercard reiterates our business strength in the cards industry.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/brac-bank-wins-mastercard-pos-acquiring-business-award-1574872063

IDCOL to seek GCF support for Coastal Afforestation

Infrastructure Development Company Limited (IDCOL) is planning to mobilise US$ 80 million for enhancing the country’s resilience of coastal ecosystem through afforestation. Of the amount, $ 60 million will be sought from the Green Climate Fund (GCF), while the remaining $ 20 million will be co-financed by the government of Bangladesh. This was revealed at a national stakeholder consultation workshop titled ‘Climate resilient sustainable coastal forestry in Bangladesh and its influence on environment. IDCOL, a state-run financing company, and Bangladesh Forest Department (BFD) jointly organised the programme with the support of Brac University’s Centre for Climate Change and Environmental Research (C3ER).

Source: https://today.thefinancialexpress.com.bd/trade-market/idcol-to-seek-gcf-support-for-coastal-afforestation-1574872616

Bangladesh Development Bank gets new CEO

Kazi Alamgir has recently joined Bangladesh Development Bank as managing director and chief executive officer. He is a former managing director of Rajshahi Krishi Unnayan Bank and deputy managing director of Karmasangsthan Bank.

Source: https://www.thedailystar.net/business/news/bangladesh-development-bank-gets-new-ceo-1832857

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DSEX4,722.30817↑28.68234↑ 0.61
↑ 42.32 ↑ 0.15%
FTSE1007,429.78↑ 26.64↑ 0.36%
Nikkei 22523,453.96↑16.19↑ 0.07%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 57.85↓ 0.26↓ 0.45%
Crude Oil (Brent)$ 63.89↓ 0.17↓ 0.27%
Gold Spot$ 1,456.20↑ 1.76↑ 0.12%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 83.1993
GBP 1BDT 107.123
EUR 1BDT 91.5730
INR 1BDT 1.16729





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