Default loans in the banking sector surged 16.38 per cent year-on-year to Tk 103,274 crore in 2021, rendering the relaxed loan classification policy unveiled by the Bangladesh Bank largely ineffective.

Remittances declined 16 per cent year-on-year to $1.49 billion in February, the lowest in the past 22 months, creating a further risk of widening the trade imbalance in the face of surging import bills.

Finance ministers of the Group of Seven most developed nations will meet Tuesday to discuss urgent aid for Ukraine, World Bank president David Malpass announced Sunday.

Dhaka Bank has reappointed Emranul Huq to the post of managing director and chief executive officer for a three-year term effective from February 22, 2022.

The Multilateral Investment Guarantee Agency (MIGA), a part of the World Bank Group, has announced the appointment of Junaid Kamal Ahmad as its vice-president for operations.

City Bank recently signed an agreement with Maldivian GSA Total Air Services Ltd.

Bangladesh Bank yesterday asked banks to draw up a recovery plan so that they can take time-befitting moves to resolve any downside risk emanating from default loans, liquidity crisis and some other factors.

Brac Bank will host a special training programme for the new and upcoming entrepreneurs in cottage, micro, small and medium enterprises (CMSMEs) to help them hone business knowledge and managerial skills so that they can run businesses properly.

United Commercial Bank (UCB) has decided to form a subsidiary in Singapore to acquire a remittance business.

An extraordinary leak from one of the world’s iconic private banks, Credit Suisse, has exposed the hidden wealth of clients involved in torture, drug trafficking, money laundering, corruption and other serious crimes.

City Bank promoted Sheikh Mohammad Maroof from the bank’s additional managing director to the post of chief business officer recently.

The Islamic Development Bank (IsDB) is set to provide $56 million to Bangladesh for an inclusive sanitation and hygiene programme.

Bank Asia won the first prize for “Best Presented Annual Report 2020 (Private Sector Banks)” in South Asia alongside a “SAARC Anniversary Award for Corporate Governance Disclosures 2020” awarded by the South Asian Federation of Accountants (SAFA).

The Hongkong and Shanghai Banking Corporation (HSBC) in Bangladesh has introduced the country’s first Social Loan Principles (SLP) based financing for Thengamara Mohila Sabuj Sangha (TMSS), one of the largest microfinance institutions in the country.

The presence of vibrant corporate governance and adoption of technology-driven means have helped Pubali Bank go from strength to strength in widening its banking operations.

Japanese investors should invest in various potential sectors in Bangladesh, especially in Chattogram, which has become a trade and investment growth engine of the country because of the implementation of mega infrastructure projects and capacity enhancement of the sea port, analysts said today.

Bangladesh Bank yesterday gave a remedy to the defaulters of non-bank financial institutions (NBFIs), saying the borrowers could get a waiver of 50 per cent on their interest amount if they repay loans within a year.

From now on, no charges or fees can be imposed on customers before the activation of credit cards, Bangladesh Bank said in a notice yesterday.

IFIC Bank is set to sell its entire holding of Nepal Bangladesh Bank Ltd (NBBL) to a Nepalese national for Tk 439 crore.

Heavy dependence on banks for long-term funding is weakening the financial health of local lenders, according to analysts.