Deposits at banks saw remarkable growth last fiscal year as the coronavirus-linked uncertainty compelled people to cut non-essential expenses and save more, while lending growth shrank slightly due to business slowdown.

Bangladesh Bank yesterday asked non-bank financial institutions (NBFIs) in the country to not transport any materials through unlicenced courier service companies.

A number of customers of Nagad have alleged that they were facing troubles in carrying out transactions on their accounts as the mobile financial service provider has suspended them on suspicion of unusual transactions with e-commerce platforms.

Pubali Bank has reached a syndicated loan facility agreement worth $52 million with Bank Muscat.  The facility will help Pubali Bank provide liquidity services to local banks and local import and export businesses and strengthen the country’s economic growth, generating up to $200 million of additional trade every year, says a press release.

Southeast Bank has recently witnessed the appointment of two new chairmen for its executive committee and risk management committee at its 636th board of directors meeting. 

Bangladesh Bank yesterday increased the volume of a refinance scheme dedicated to marginal and landless farmers, low-income professionals and small businesses.

The stock market regulator yesterday gave the go-ahead to a Union Bank proposal for raising Tk 428 crore through an initial public offering (IPO), the largest amount by any bank in Bangladesh.

Bangladesh Bank yesterday fined NRB Commercial Bank Tk 23.50 lakh for its aggressive investments in the capital market in breach of rules.

Southeast Bank has recently witnessed the reelection of its chairman and vice-chairperson at its 636th board meeting. 

The National Credit and Commerce Bank has recently witnessed the appointment of a new chairman and a vice-chairman at a board of directors meeting. 

Padma Bank has started looking for potential foreign investors, in keeping with its earlier wish to merge with a state lender to prevent its financial health from deteriorating further.

Nagad, the mobile financial service (MFS) wing of Bangladesh Post Office, has till date launched 599 service points, with at least one in every upazila of the country, to resolve problems faced by customers. 

IDLC Finance has launched a “digital savings scheme” through bKash accounts at its Gulshan corporate head office recently.

Bangladesh has finally become a member of the New Development Bank (NDB), which was launched in 2015 by Brazil, Russia, India, China and South Africa, collectively known as Brics, according to a statement of NDB.

The New Development Bank (NDB) -- established by BRICS (Brazil, Russia, India, China and South Africa) in 2015 -- has enrolled Bangladesh as a new member.

Bangladesh Bank yesterday said borrowers of non-bank financial institutions (NBFIs) would not become defaulters until December if they pay 50 per cent of their loans’ instalment.

Managements of the state-owned banks are in a state of discomfort after being informed about the Padma Bank’s wish to get merged with a state lender.

Remittance inflow declined 8 per cent year-on-year in August to $1.8 billion, the lowest in the past six months, as money transfers through informal channels such as “hundi ‘’ have increased, according to various experts.

Padma Bank, the erstwhile Farmers Bank, in a letter to the finance ministry recently has sought to be merged with any state bank that fits the bill, in what seems to be a desperate effort to avoid further deterioration of its financial health.

Mastercard, payment gateway SSLCOMMERZ and Mutual Trust Bank have launched a quick response (QR) acquiring platform enabling use of “Bangla QR”.