Rejaul Karim Byron

BASIC Bank has failed to implement seven of the ten conditions imposed by the central bank for performance improvement.

The banking sector's net profit dropped around 17 percent year-on-year in 2014 to Tk 5,993 crore on the back of mounting bad loans which necessitated large provisioning.

A government committee yesterday okayed import of 19 lakh tonnes of refined petroleum products during January-June period of this year at prices between $66 and $70 per barrel.

The government will set up an apex body to help complete large projects as part of a raft of policy reforms for getting budgetary support from the World Bank.

Deposits at banks dipped 1.07 percent in January from a month ago as savers rush to government savings schemes that offer higher interest rates compared to the banking system.

Bank loans decreased 0.98 percent or Tk 5,197 crore in January compared to December mainly due to political unrest.

The economic affairs committee of the cabinet yesterday approved appointment of a consultant to formulate a master plan to generate 9,000 megawatts of power in Maheshkhali, going a step forward with the government's vision to convert the island into the country's largest energy hub.

Grameen Bank has virtually come under full state oversight for the first time in its 33-year history, after the current board's tenure expired on Sunday and the government failed to hold elections to select its successor.