Bangladesh economy to grow 5.7% in FY24, the lender says

Plastic money transactions fell 4.77% to Tk 3,057 crore

No new proposal will be accepted before the completion of the five, BB says

The Bangladesh Bureau of Statistics says in quarterly GDP estimate

Troubled state-owned BASIC Bank is likely to be acquired by private sector lender City Bank as the central bank is forging full steam ahead with its plan to engineer the takeover of weak banks with stronger ones.

The Bangladesh Jute Mills Corporation continues to be mired in losses due to the huge payroll burden of its 25 closed factories since 2020.

The multinational bank made Tk 43 crore in 2023, up from the previous year's Tk 13 crore

The merger guideline for banks and financial institutions is being hailed as a major step towards fixing the problem in the financial sector, which has been weighed down by massive default loans and weak corporate governance.

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.

The most recent bank merger proposal in Bangladesh reflects a pressing need for action due to Bangladesh Bank's determination to instill essential discipline and oversight in the financial sector, which is plagued by widespread irregularities.

The police’s Detective Branch (DB) has arrested four syndicate members, including an outsourcing employee of the NID server, for embezzling Tk 30 crore from various banks by using counterfeit National Identity cards.

NRBC Bank PLC has sent a rejoinder in response to our story “Capital Flight Covered Up”, published on March 22, 2024, and a follow-up rejoinder in response to our story titled “Gun in Boardroom”, published on March 21, 2024.

The Anti-Corruption Commission yesterday filed a case against five officials of Janata Bank for embezzling Tk 5.22 crore from Tamai branch in Sirajganj.

BRAC Bank PLC registered a 35 percent increase in profit to Tk 827.50 crore last year thanks to its focus on small and medium enterprises (SME) and technology-based customer services, which added over 3.60 lakh new customers.

The government should come up with a clear guideline complying with the global best practices before compelling banks to merge, the World Bank has said.

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.

Customers spent Tk 2,678 crore in Jan this year, up from Tk 2,674 crore in Dec 2023

The central bank said in quarterly review on money and exchange rate

It hit $19.45 billion on March 27, down from $19.98 billion on March 20

Banks’ spending on socially impactful schemes as part of their corporate social responsibility (CSR) fell in the second half of 2023, said a central bank report yesterday..During the July-December period of last year, banks spent Tk 353 crore on CSR-related activities, which was 31 percent