An updated guideline on credit card operations, resetting of the highest interest rate, provisioning requirement for default loans and the doubling of the credit limit will not only boost expansion of the electronic payment method but also speed up the digital transformation, said industry players.

Bangladesh's economy is driven by a flurry of activity in two of its major cities -- Dhaka and Chittagong -- one the political and administrative capital and the other the commercial capital.

The banking sector's provisioning shortfall went up 18.33 percent in the second quarter of 2017 from a year earlier thanks to high default loans at state banks.

The central bank has cut the banks' cost for loans for credit card usage with a view to encouraging digital transaction in the economy.

Bangladesh has an excess number of banks at present, which has given rise to unhealthy competition, said Ali Reza Iftekhar, managing director of Eastern Bank Limited.

City Bank has recently completed the process of issuing coupon bearing subordinated bonds worth Tk 500 crore in Bangladesh, the bank yesterday said in a statement.

MTB Unit Fund has declared 13 percent cash dividend for the unit holders for fiscal 2016-17. The announcement came at a meeting of the trustee committee of the MTB Unit Fund in Dhaka on Monday.

Ahsan Afzal has recently joined United Commercial Bank as additional managing director, the bank yesterday said in a press release.

The government may amend the electoral rules of microcredit lender Grameen Bank so that it can pick nine directors from the borrowers by itself -- like it has done since its inception.

The finance ministry has moved to make changes to the Banking Companies Act 1991 that would strengthen the grip of families on private banks.

Brac Bank has diversified its SME financing by branching out across the country to maintain its market-leading position in the segment, its chief executive said yesterday.

Mohammed Shawkat Jamil has recently been promoted as the additional managing director of United Commercial Bank, the bank yesterday said in a statement.

Md Nurun Newaz Salim has recently been elected as the chairman of NCC Bank Ltd, the bank yesterday said in a statement.

HSBC Holdings PLC on Monday said profit grew 5 percent in the six months through June and announced its third share buyback in a

Mobile transactions reached Tk 30,008 crore for the first time in June, according to Bangladesh Bank.

Bank Asia has recently teamed up with the United Nations Development Programme (UNDP) to provide the village population with easier access to social safety net payments.

Bangladesh's banks remain vulnerable to cyber threats as hackers continue to target financial institutions exploiting modern technology, analysts said yesterday.

Bangladesh's banking sector has been seeing a surge in home loans for the last two years due to single digit interest rate and an increase in per capita income.

Bangladesh Bank yesterday asked all banks dealing in foreign currencies to set up at least one dedicated help desk in their Dhaka and Chittagong head offices with competent officials to help potential foreigners in making productive investment.

Banks can do nothing to reduce the cost of bringing remittance to Bangladesh as they do not charge anything at all for channelling the hard-earned money sent by the migrant workers.