Banking | The Daily Star
  • Bank of England chops Q2 growth forecast

    The Bank of England cut its growth forecast for Britain’s economy to zero in the second quarter of 2019 and highlighted risks from global trade tensions and growing fears of a no-deal Brexit.

  • Britain’s smaller banks wallow in giants’ shadow

    Computer meltdowns. Unexplained holes in accounting. Personnel management scandals.

  • RBI relaxes stressed asset guidelines for lenders

    The Reserve Bank of India diluted its guidelines on stressed assets and has now mandated banks to undertake a review of a borrower’s accounts within 30 days of default, according to a circular issued on Friday.

  • BoE’s Haldane says time nearing for UK rate rise

    The Bank of England is approaching the time when it will need to raise interest rates again to keep inflation pressures in check, its chief economist Andy Haldane wrote in an article which pushes back strongly against recent market sentiment.

  • IMF’s Lagarde highlights potential disruptive nature of fintech

    International Monetary Fund Managing Director Christine Lagarde warned on Saturday that the increasing presence of technology giants using big data and artificial intelligence could cause a significant disruption to the world’s financial system.

  • Sluggish deposit growth poses stability risks: BB

    The continued slowdown in deposit growth can go on to raise concerns of stability of the banking sector, said a Bangladesh Bank report -- in a pressing call to the government to cut down the interest rate on national savings certificates.

  • Tk 60,000cr for interest payment

    The government’s interest burden is likely to get heavier in the upcoming fiscal year thanks to its excessive reliance on high-cost national savings certificates to fund its expenditures.

  • Banks should be setting interest rates, not others

    Banks should be the only ones setting the interest rates as they offer loans at rates that are based on factors like cost of funds, credit worthiness of a customer and the prevailing market condition, said AKM Shaheed Reza, chairman of Mercantile Bank.

  • Bangladesh Bank

    BB steps in to ease Eid liquidity crunch

    The central bank yesterday injected Tk 2,300 crore into the money market to ease liquidity crunch in the banking sector amid the cash withdrawal spree in the lead up to Eid.

  • Syed Faridul Islam

    UCB gets new AMD

    Syed Faridul Islam has recently joined United Commercial Bank (UCB) as additional managing director.

  • Dilwar H Choudhury

    Bank Asia gets new audit committee chairman

    Dilwar H Choudhury has recently been elected chairman of the audit committee of the board of directors of Bank Asia.

  • Govt to inject another Tk 1,500cr

    State banks can keep on expecting to be coddled despite their continued financial irregularities and irresponsible lending practices, with the government looking to inject Tk 1,500 crore in the upcoming fiscal year to help the lenders meet their capital shortfall.

  • Bank Asia elects vice chairman

    Romo Rouf Chowdhury has recently been elected vice chairman of Bank Asia. The election took place at a meeting of the bank’s board of directors, says a statement. Chowdhury is one of the sponsor shareholders as well as sponsor directors of Bank Asia. He holds directorship of various sister concerns of Rangs Group and Sea Fishers Group.

  • MTB gets global data security standard certificate

    Mutual Trust Bank has recently become the third Bangladeshi bank to receive the certificate for complying with the payment card industry data security standard (PCI DSS) set by Visa, MasterCard, Discover Financial Services, JCB International and American Express.

  • Stay alert about dubious transactions

    The Bangladesh Financial Intelligence Unit (BFIU) yesterday instructed mobile financial service (MFS) providers to inform it of suspicious transactions with a view to reining in “digital hundi” ahead of Eid-ul-Fitr.

  • EBL reappoints Ali Reza Iftekhar as MD

    Eastern Bank Limited (EBL) has reappointed its managing director and CEO, Ali Reza Iftekhar, for three years.

  • Govt’s bank borrowing hits six-year high

    The government has all on a sudden stepped up its borrowing from the banking system from this month as its revenue collection fell short of expectations, sending the cash-strapped banks into a state of panic. Until the end of April, the government did not borrow from banks

  • Bangladesh High Court's Order to Green Line Paribahan

    HC halts privilege for loan defaulters

    The High Court has halted the privilege of loan defaulters to secure further loans by giving a 2 per cent down payment until June 23.

  • Errant banks to be denied ADP funds

    Banks and financial institutions who failed to lower their interest rates to 9 per cent will not get government’s annual development programme fund.

  • Pubali Bank gets new chairman

    Pubali Bank recently saw the unanimous election of Azizul Huq, founder CEO of Islami Bank Bangladesh, Social Investment Bank and Islamic Finance and Investment, as chairman during a board meeting.

  • Find ways to fight trade-based money laundering

    Banks should develop data banks on their own in order to prevent billions of dollars from being siphoned out of Bangladesh through trade-based money laundering, a study recommended.

  • High deposit rates pulling down stocks

    The head of the Bangladesh Securities and Exchange Commission (BSEC) has expressed helplessness regarding the bearish run of the market, blaming the higher interest rate on savings certificates and bank deposits for the slump. “What can the commission do if the bank deposit

  • Loan Scams in Bangladesh

    Defaulters have the last laugh

    Insanity is doing the same thing over and over again and expecting different results, the influen-tial physicist Albert Einstein once said. And this quote comes to mind when one glances through the Bangladesh Bank’s latest policy for defaulters. Issued on May 16, the notice is an extended

  • Bangladesh Bank

    BB loosens the leash on banks’ stock exposure

    The central bank has widened banks’ scope to invest in the stock market and infrastructural fund as the government looks to put a pause on the longer than usual bear run. The DSEX, the benchmark index of the premier bourse, lost 774.55 points, or 13.07 percent, in the last three months.

  • Bangladesh Institute of Bank Management (BIBM)

    Islamic banks’ profitability shrinks in 2018

    Shariah-based banks’ net profit margin declined to 2.2 percent in 2018 from 3 percent a year earlier at a time when the banking sector’s rose, found a recent study. The banking sector’s net profit margin improved to 3 percent from 2 percent last year, according to the study titled “Islamic Banking Operation of Banks-2018”.

  • Bangladesh Notes

    Cash use costs Bangladesh Tk 9,000cr every year

    The country has to count more than Tk 9,000 crore a year because of its heavy dependence on cash, necessity to move towards a cashless society. The maintenance cost of the printed money is nearly 0.50 percent of the country’s GDP, Central bank report styled ‘Reducing the Cash Transaction’.

  • Bangladesh Bank

    BB agrees to redefine banks’ stock exposure

    The central bank has decided in principle to exempt banks’ investments in non-listed companies from capital market exposure, a move that can give banks plenty of room for fresh investments in the stock market.

  • NCC Bank MD asked to explain abnormal deposits

    The board of NCC Bank yesterday sought explanation from Managing Director Mosleh Uddin Ahmed for his abnormally high deposits as revealed by Bangladesh Financial Intelligence Unit (BFIU).

  • MTB can issue shares to Norfund

    Mutual Trust Bank has got regulatory approval to raise fund to boost its capital base by issuing 6.37 crore new shares to the Norfund,

  • Mercantile Bank to award talented young bankers

    Mercantile Bank has recently launched a second edition of MBL Young Bankers’ Appreciation Award as part of its effort to identify and recognise talented young bankers.