Finance Minister AHM Mustafa Kamal will sit with the chairmen and chief executive officers of the state-owned commercial and specialised banks today to take stock of the overall situation of the financial sector.

The growing trend of default loans has put an adverse impact on banks’ profitability and their daily operations, said Bangladesh Bank Deputy Governor SM Moniruzzaman yesterday.

Bangladesh needs to sustain higher economic growth and diversify the economy in order to create jobs for a young population, said Kristalina Georgieva, chief executive officer of the World Bank since January 2017.

Mastercard has announced the completion of its acquisition of Transfast, a global payments company with significant cross-border network reach.

Some 15 banks and non-bank financial institutions (NBFI) that have Tk 850 crore stuck with People’s Leasing Financial Services (PLFS) are on edge over the government’s decision to liquidate the ailing NBFI as they stand to lose a large portion of the sums.

The Bangladesh Bank yesterday assured the depositors of People’s Leasing and Financial Services (PLFS) not to worry about their money as they would be getting it back within the shortest possible time.

Mastercard has announced the completion of the acquisition of Transfast, a global payments company with significant cross-border network reach.

Tarique Afzal has recently been appointed president and managing director of AB Bank.

GERMANY’S biggest lender Deutsche Bank said Sunday it would cut 18,000 jobs by 2022, as the former leading light of the country’s financial sector looks to escape years of turmoil.

HIRING and retaining high-quality people, using a robust risk management system and complying with regulatory requirements are some of the key areas that can help a bank attain a sound financial health, said a top banker.

A massive decline in import and an inflow of record remittance have helped narrow the current account deficit by 40 percent in the first 11 months of the just concluded fiscal year, much to the relief of the Bangladesh Bank.

Tarique Afzal has recently been appointed as the President and Managing Director of AB Bank.

The Supreme Court (SC) extends for two months its stay on a High Court order that halted Bangladesh Bank circular allowing defaulters to reschedule their loans with a repayment period of up to 10 years.

Banks in Bangladesh are contributing to the rise in inequality as they collect deposits from people from all walks of life but give loans to only a few, analysts said yesterday.

Lawmaker Morshed Alam has been elected chairman of Mercantile Bank.

State banks did not get a single penny from taxpayers in the just concluded fiscal year to make up their capital deficit, in a clear sign from the government of its intent to stop pampering the errant lenders.

The Supreme Court stays till July 8 the High Court orders that halted Bangladesh Bank’s circular allowing defaulters to reschedule their loans with a repayment period of up to 10 years and get further loans.

State-owned BASIC Bank has finally got a managing director. The post had been vacant since November last year.

Mohammed Mahtabur Rahman has recently been re-elected chairman of NRB Bank.

The Bank of England cut its growth forecast for Britain’s economy to zero in the second quarter of 2019 and highlighted risks from global trade tensions and growing fears of a no-deal Brexit.