• Saturday, September 20, 2014

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State Bank

New MD for BASIC Bank

New MD for BASIC Bank

BASIC Bank yesterday appointed a new managing director after the central bank removed Kazi Faqurul Islam from the troubled state bank as MD on Sunday. BASIC Bank's most senior deputy managing director Fazlus Sobhan has been reassigned as the MD, the bank said in a statement. A board meeting chaired by Shubhashish Bose, a director of BASIC Bank and vice chairman of the Export Promotion Bureau, took the decision, Ruhul Alam, a deputy managing director of the bank, said. Bose chaired the meeting in the absence of Chairman Sheikh Abdul Hye...

State banks see surplus capital on public funds

State banks see surplus capital on public funds

State banks that had huge deficits earlier now enjoy surplus capital as the government has injected fresh funds into the banks and improved their asset quality. Four state-owned banks had a surplus capital of Tk 855 crore on December 31, 2013, though they had a deficit of Tk 8,863 crore on September 30, according...

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