Default loans of Non-Bank Financial Institutions (NBFIs) rose 54.29 percent to Tk 15.936.42 crore in three months to June, 2022 compared to the same period last year, official sources said. The total amount of default loans of NBFIs was 23 percent of the total loans disbursed, according to the latest
Author: Jahangir Alom Ansary
20 banks hold 75pc of default loans
21 pvt insurance cos yet to go public
Twenty one private insurance companies have not floated shares for public subscription despite clear instructions by the concerned authorities to go public within three years of their inception, official sources said. These companies are-American Life Insurance Company (MetLife), Alpha Islami Life Insurance Ltd, Baira Life Insurance Co. Ltd, Best Life Insurance
LC opening, settlement fall in July
The country witnessed a decline in both settlement and opening of Letter of Credits (LC) in July by 9.23 percent and 30.20 percent respectively following the government’s import cost containment policy, official sources said. LC settlements were worth $658 crore in July, which was $117 crore, or 9.23 percent, less than
SIBL cuts end-service benefits of employees
The Social Islami Bank Ltd. (SIBL) has curtailed end-service benefits of large number of its employees through a recent decision of the Board of Directors, bank sources said. According to a memo of the bank’s Board (Memo No 2022/-133, dated February 6, 2022), the gratuity and privilege leave encashment rules have
Janata Bank reels under low capital, high NPL
The state-owned Janata Bank is reeling under high non-performing loans (NPL) as well as capital and provisioning shortfall, official sources said. At the end of March 2022, the defaulted loans of Janata Bank stood at Tk 13,125 crore, which was 19.10 percent of the total outstanding loan of the bank worth
Tk 948.72cr siphoned off from IFIC Bank
A total of Tk 948.72 crore was siphoned off from two branches of the IFIC Bank Limited through providing term loans to three dubious housing and real estate companies in gross violation of the banking rules, a Bangladesh Bank (BB) inspection revealed. The loans were disbursed to the three companies from
Real estate sector in misery as raw material prices surge
A surge in prices of construction materials put the real estate industry in misery as the sector was just getting momentum after a long spell of pandemic-driven slowdown. Prices of steel, cement, bitumen and cement rose significantly over the past one year, but the realtors found it difficult to make the
Remittances rise in 2021 despite pandemic
Despite a six-month decline caused by Covid-19 pandemic, remittances rose to a new height of $2,207 crore in 2021, surpassing the preceding year’s record of USD 2,174. The country’s remittances were $164.90 crore in December that helped achieving the new record, according to the Bangladesh bank data. However in the first six
Agent banking surges amid pandemic
Banking through agents rose significantly in the July-September quarter of 2021, with both deposits and advances growing. According to the latest data of Bangladesh Bank, the deposit through agent banking has increased by 9.24 percent since June 2021 quarter. Earlier, at the end of June quarter this year, the total deposit