Transactions through mobile financial services in Bangladesh grew more than 50 per cent year-on-year to Tk 62,230 crore in August, central bank data showed.

State banks in Bangladesh are maintaining an elevated level of loan concentration among a handful of clients, putting their own financial health and the interest of depositors at grave risk.

City Bank Limited has partnered with Mastercard to integrate Mastercard Payment Gateway Services (MPGS) that enables a range of value-added services for customers. 

The Bangladesh Bank yesterday ordered four state banks to speed up cash recovery from defaulters as their record in realising delinquent loans has remained dismal.

Standard Chartered Bank yesterday launched a Standard Chartered Saadiq Sadaqah Account for clients to donate profits generated by the account to a charity of their choice. 

Bangladesh Bank yesterday drew up a set of rules for companies that borrowed from banks and non-banks, requiring them to submit up-to-date information on their board of directors to the Credit Information Bureau (CIB).

Nearly three months after Padma Bank submitted its proposal seeking a merger with any state-owned lender, Bangladesh Bank said that state lenders are now plagued by financial health issues due to excessive defaulted loans.

Midland Bank Limited has recently witnessed the reelection of its chairman and vice-chairman at the 115th meeting of its Board of Directors.

Bangladesh Bank yesterday relaxed rules regarding banks’ investment in Treasury bills and bonds in order to help them avoid generating lower-than-expected profits in the secondary bond market.

Bangladesh’s economic growth will rebound to 7.2 per cent in the current fiscal year, riding on domestic consumption, global recovery, steady flow of remittance and rising exports, said Standard Chartered yesterday.

South Bangla Agriculture and Commerce Bank (SBAC) has suspended 11 officials, including two deputy managing directors (DMDs), due to alleged irregularities in disbursing loans.

Moody’s Investors Service has changed the outlook to “stable” from “negative” and affirmed issuer rating at B1 for City Bank Limited. 

The Bangladesh Financial Intelligence Unit (BFIU) has frozen the bank accounts of Foster Payments due to its alleged involvement in money laundering.

The foreign exchange regime has made an about-face in the last two months as the Bangladesh Bank continues to inject US dollars (USD) into the market to halt the depreciation of the local currency and meet the growing appetite of the economy.

Standard Bank Limited has recently witnessed the appointment of a new deputy managing director and chief business officer. 

Brac Bank has widened its workplace diversity by introducing employment opportunities for the country’s transgender and physically challenged people.

Remittance flow to Bangladesh fell to a 16-month low of $1.72 billion in September as money transfers through informal channels such as hundi might have made a comeback after a lull caused by the coronavirus pandemic.

Mobile financial service provider bKash is marking its 10th anniversary offering customers cash withdrawals at a reduced rate of Tk 14.90 per Tk 1,000 through one agent of their choice and ATMs of several commercial banks.  

Prime Bank Limited has introduced a digital loan disbursement system for the garments workers- the move, the bank claimed, is the first of its kind in the banking industry in Bangladesh.

The Bangladesh Bank yesterday renewed the interim licence of Nagad for another six months as the Bangladesh Post Office (BPO) has failed to form a subsidiary to run the mobile financial service.