Md Mehedi Hasan

Once the new bank is launched, depositors will get a maximum of Tk 2 lakh from the deposit insurance fund.

Key players not ready

As it enters 27th year, the bank is focusing on digitalisation and maintaining its reputation for trust

BB said the matter would be reviewed on whether the subsidiary achieves profitability by June 2026

While the country’s financial sector is passing through a challenging period with more than a dozen banks with weak financials, City Bank has emerged not only as one of the top lenders but also as a pioneer of financial technology.

The document shows that Tk 46,805.32 crore of the assets are in Bangladesh, while the remaining Tk 10,451.54 crore are abroad.

Nine non-banks set for liquidation owe Tk 15,370cr to savers

Stakeholder involvement is the key to the success of an interoperable instant payment system, yet this was missing when Bangladesh introduced its first digital platform “Binimoy” a few years ago, according to Snigdha Ali, country lead of Inclusive Financial Systems (IFS), an initiative of the Gates Foundation.

The five banks slated for consolidation are First Security Islami Bank, Union Bank, Global Islami Bank, Social Islami Bank and Exim Bank.

Central bank approves private entities to run credit bureaus

The financial health of First Security Islami Bank PLC has turned so dire that it is now paying staff salaries directly from depositors’ money, according to a Bangladesh Bank (BB) document.

Low development spending leads to a sharp decline in government borrowing

Between 13 July and August, the central bank bought $948 million from commercial banks through seven auctions

Nine non-bank financial institutions (NBFIs) out of a total of 35 are likely to be liquidated in the interest of depositors, making it the first such incident in the financial sector.

Banking sector's asset quality declines as distressed loans balloon to Tk 7.56 lakh crore

BB officials said the central bank decided to set up an office at Sena Kalyan Bhaban in Motijheel to oversee the process.

In August last year, when the current governor took charge of the central bank, basic banking services were in turmoil. In parts of Dhaka, ATMs were out of service, and some cash-strapped banks were unable to honour cheques for as little as Tk 5,000.

Down payments start at 1% with grace periods reaching 3 years

Central bank halts Binimoy services over alleged contract breach and irregularities

The country’s balance of payments returned to a surplus in the fiscal year (FY) 2024-25, ending a three-year spell of deficits.