Banking

Banks to continue suspended ATM operations for 6-8hrs at night

Most of the banks are keeping their ATM (automated teller machine) booth operation suspended for 6-8 hours at night following a hacking alert issued by the Bangladesh Bank in late August.
City Bank joins growing list of lenders issuing international debit card

City Bank has introduced a dual currency debit card, joining a growing list of lenders that are offering the facility to lure in the progressively global-minded customers in the country that are averse to using credit cards.
Eastern Bank’s profits rise on higher loan recovery, low NPL

Eastern Bank’s profits grew at a handsome rate in 2019 thanks to a higher recovery from written-off and classified loans, new client acquisition and deeper penetration both in retail and SME segments despite it being a challenging year for almost every financial institution.
Banking sector’s stressed asset figure, once unveiled annually, is now under wraps

The central bank has stopped publishing the figure of stressed assets in its annual financial stability report with a view to painting a rosy picture of the banking sector at a time when lenders are facing one of their worst crises in living memory.
Kabir reappointed BB governor after much ado

The government yesterday finally reappointed Fazle Kabir as the governor of the central bank for two more years as it looks for an old hand to steer the financial sector during its most challenging period yet.
Social Islami Bank launches ‘dual prepaid’ card

Social Islami Bank has launched a “dual prepaid” card with a number of features which would make daily activities of its users “more comfortable than ever”.
AB Bank asks over 100 employees to resign

AB Bank has asked more than 100 of its employees to resign as part of its efforts to restructure operations.
Dhaka Bank shapeshifting with pandemic

When the majority of banks are struggling to survive from the ongoing financial meltdown brought on by the coronavirus pandemic, Dhaka Bank has introduced a novel banking product that will help clients open their account from home.
SIBL targets low-cost deposits

Social Islami Bank has rolled out a new campaign to rope in more customers and widen the customer base by offering Tk 100 in instant cash bonus for opening any new accounts, in a move that can give a boost the central bank’s financial inclusion agenda.
Banks’ looming salary cuts: far-sighted or self-seeking?

Opportunism. That is what comes to mind when one hears of the move by the Bangladesh Association of Banks (BAB), an organisation of sponsors of private banks, to usher in salary cuts for their staffs.
EBL introduces export factoring solution

Eastern Bank (EBL) yesterday rolled out a novel export factoring solution -- just the day after the central bank issued the guideline for it -- as part of its efforts to reduce the risks that Bangladeshi exporters face when it comes to collecting their goods’ worth.
Bangladesh Bank orders disbursal of stimulus funds by next month

The Bangladesh Bank yesterday cracked the whip on banks for their foot-dragging in implementing the stimulus packages for businesses, ordering them to disburse all funds within the next month.
Listed banks bleed in H1. But the market is not too fussed.

Most banks’ operating profits declined 20 to 30 per cent in the first half of 2020 because of the paralysed economy but the fall did not reflect properly in their stock prices owing to the floor price.
Borrowers get interest rebate for Apr-May

The Bangladesh Bank yesterday drew up a policy to rebate interest for borrowers for the April-May period as part of its move to give a breathing space to them from the ongoing economic fallout.
Businesses should use funds from stimulus packages properly

Businesses should use the funds from the stimulus packages properly to make a turnaround from the ongoing economic fallout, or else they will collapse into a bad state of affairs, said a top banker.
BB driving with its eyes closed amidst the economic tempest

Without data, companies are deaf and blind, it is often taught in business schools.
BB almost doubles funding for SMEs’ refinance schemes

The central bank almost doubles the volume of funding of three refinance schemes for small and medium enterprises (SMEs) in order to protect the marginal entrepreneurs from the ongoing economic fallout from the coronavirus pandemic.
Sonali Bank branch locked down after official tests Covid-19 positive

Sonali Bank has locked down its Shilpa Bhaban Corporate branch in Dhaka after an official of the branch tested positive for Covid-19.
Nimble-footed Reserve Bank of India shows Bangladesh Bank the way

Adversity brings out the best in man, William Shakespeare once said.
BB extends banking operations nationwide

The Bangladesh Bank decides to extend the banking operation across the country during the ongoing shutdown.
Coronavirus outbreak: BB sets insurance coverage for bankers serving clients

Bank employees will be entitled to a health insurance coverage of Tk 5 lakh to Tk 10 lakh if they are infected by coronavirus while delivering services to customers, according to a notice issued by Bangladesh Bank.
Banks asked not to charge late fees for credit cards

Bangladesh Bank yesterday asked lenders not to impose any late payment fees on credit cardholders, who are finding it difficult to clear the bills due to the ongoing movement restriction and short banking hours.
The 9pc lending rate from next month seems unlikely

Banks’ capacity to provide loans at 9 per cent interest has shrunk even before the government-fixed ceiling is implemented as both individuals and corporate institutions are withdrawing deposits to protect themselves from the ongoing economic fallout of the coronavirus pandemic.
Taming coronavirus rampage: BB rises to the occasion

In an unprecedented move, the central bank yesterday said it will buy Treasury bills and bonds from banks and non-bank financial institutions (NBFIs) to tackle the impending economic slowdown brought on by the coronavirus pandemic.
Janata Bank viva voce exams to continue despite coronavirus fears

Amid aspirants’ fears over coronavirus, the Bankers' Selection Committee Secretariat is taking viva voce for the post of ‘Assistant Executive Officer (AEO)’ of Janata Bank Limited.
Would monetary policy still be useful after 9pc interest rate?

The big question on economists’ mind is, how will the 9 per cent ceiling on bank lending rates impact the conduct of monetary policy?
BB’s bailout package for bourse arrives at last

The central bank yesterday announced a fresh credit support for banks with a view to giving a boost to the ailing capital market.
The billion-dollar hit job

The way unknown hackers hatched plans to steal money from the Bangladesh Bank’s reserves with the New York Fed using the most sophisticated banking and payment channels as well their near-perfect preparation and timing will render many detective stories and Hollywood movies average.
New ADB President Masatsugu Asakawa assumes office

The 10th President of the Asian Development Bank (ADB) Masatsugu Asakawa assumed office today.
PM expects banks to implement single digit interest rate from April

Prime Minister Sheikh Hasina expresses hope that the banks will implement the single digit interest rate from April for the sake of the speedy industrialisation and investment.