Pressure mounts as currency outflow intensifies
The deficit in the financial account stood at $9.25 billion in July-March of the current fiscal year, Bangladesh Bank data showed. It was $2.92 billion in the first nine months of the previous fiscal year and $8.46 billion in July-February of 2023-24.
14 May 2024, 00:59 AM
Banks go slow in raising interest rates even after BB cedes control
The interest rates on consumer loans, forced loans and overdue loans are likely to go up rapidly in the upcoming months, however.
13 May 2024, 00:47 AM
No headway in curbing banks’ bad assets
The FID later backtracked following criticism from different quarters, including the International Monetary Fund (IMF), about the formation of a public corporation since state enterprises have usually underperformed in the country.
12 May 2024, 00:30 AM
Withdrawals put BASIC Bank in liquidity crisis
BASIC Bank is experiencing a deep liquidity crunch as depositors have been withdrawing money for weeks following news that the state-run lender is going to be acquired by a private commercial bank.
11 May 2024, 18:00 PM
Sikder family loses grip on National Bank
The Sikder family has apparently lost its grip on National Bank Ltd as Bangladesh Bank has appointed a new board for the country’s first private bank.
6 May 2024, 18:00 PM
BB likely to discard SMART formula as interest rate surges
In July last year, the central bank withdrew the 9 percent lending rate cap and introduced the Six-months Moving Average Rate of Treasury bills (SMART).
5 May 2024, 00:00 AM
Where should I invest my money?
Amid persistently higher inflation in Bangladesh for more than a year, the low- and middle-income groups are struggling to meet their daily expenses.
3 May 2024, 18:00 PM
Govt's bank borrowing rises sharply in July-April
From last July to April 22 this year, government loans from commercial banks amounted to Tk 65,432 crore, according to Bangladesh Bank. In the same 10 months or so of fiscal year 2022-23, it was only Tk 5,334 crore.
29 April 2024, 00:17 AM
Bank mergers far from voluntary
In fact, the reactions of the associated bankers and directors, circumstances centring the meetings where the decisions were taken alongside protests in one case confirmed that these had been decided by the government and relayed through the central bank.
28 April 2024, 00:20 AM
Basic, National Bank Mergers: People withdrawing money in panic
A recent rush to withdraw money from the BASIC Bank and National Bank is worsening the situation the troubled institutions are facing.
20 April 2024, 18:00 PM
Anontex Loans: Janata in deep trouble as BB digs up scams
Bangladesh Bank has ordered Janata Bank to cancel the Tk 3,359 crore interest waiver facility the lender had allowed to AnonTex Group, after an audit found forgeries and scams involving the loans.
18 April 2024, 18:00 PM
Bank Asia to take over Bank Alfalah’s Bangladesh unit
Bank Asia is likely to acquire the Bangladesh operations of Karachi-based Bank Alfalah, according to information disclosed to the Pakistan Stock Exchange yesterday.
17 April 2024, 18:00 PM
Bank Asia plans to acquire Bank Alfalah’s Bangladesh unit
Bank Asia is going to hold a meeting of its board of directors next Sunday and is likely to disclose the mater in detail, a senior official of Bank Asia said.
17 April 2024, 12:44 PM
BB's support helping banks avert pre-Eid liquidity crunch
Although banks in the country normally face a liquidity shortage due to cash withdrawals ahead of Eid-ul-Fitr each year, a majority of them have sufficient funds on hand this time around thanks to continuous liquidity support from Bangladesh Bank.
7 April 2024, 01:30 AM
News Analysis: BB’s feeble fight against loan defaulters
The central bank has already unveiled a framework to address vulnerabilities in the banking sector, rein in non-performing loans (NPLs) and punish wilful defaulters.
5 April 2024, 02:00 AM
Forex reserves keep eroding despite currency swap
Under the currency swap agreements introduced last month, the banking regulator took $1.17 billion from commercial banks and injected around Tk 20,000 crore in the form of local currencies into the banking system, according to several central bankers.
29 March 2024, 00:11 AM
ICB Islamic Bank in dire straits
After Padma Bank, ICB Islamic Bank appears to be the next in line to be absorbed by a stronger bank under the central bank’s roadmap to clean up the banking sector and bring in corporate governance.
28 March 2024, 18:00 PM
External debt crosses $100b for first time
Bangladesh’s external debt has crossed the $100 billion mark for the first time, indicating a challenging future amid foreign exchange shortage.
21 March 2024, 18:00 PM
NBFIs lose 17% of deposit accounts
Deposits at non-bank financial institutions (NBFIs) have slightly increased on an interest rate hike but the number of deposit accounts have dropped sharply, indicating a lack of trust.
20 March 2024, 00:09 AM
Exim-Padma Bank merger to take at least 18 months
The planned merger of Shariah-based Exim Bank and struggling Padma Bank is likely to take between 18 months to two-and-a-half years to complete, according to central bank officials.
18 March 2024, 18:00 PM