In a trailblazing move in the banking sector, Prime Bank is increasingly shifting its focus towards financing the ICT industry and has already started disbursing collateral-free loans among businesses in different segments of the digital business. The lender today signed an agreement with the Internet Service Providers...
The capital base of the banks deteriorated further during the January-March period of the current year with the capital shortfall of thirteen banks, including seven state-owned banks, increasing by Tk 2,288 crore as the volume of defaulted loans continued to remain high. The banks faced a total...
The Palli Karma Sahayak Foundation (PKSF) – a state-owned financial institution – will disburse an additional Tk5,000 crore in microcredits to support small entrepreneurs impacted by the Covid-19 pandemic. The World Bank and Asian Development Bank will fund the lion's share of this initiative. The PKSF,...
The capital base of Bangladesh's banking sector is much weaker than in peer countries -- a situation that not only highlights its frailty but also the heightened vulnerability amid the coronavirus pandemic. Capital adequacy ratio (CAR) is the reflection of all financial indicators of banks, including the...
It is not the first time that state-owned Sonali Bank, Janata Bank, Agrani Bank, and Rupali Bank are financially aiding distressed organizations. The last time when these four banks took the initiative to provide such help, the-then Farmers Bank , later renamed as the Padma Bank, was...
Eastern Bank (EBL) yesterday rolled out a novel export factoring solution -- just the day after the central bank issued the guideline for it -- as part of its efforts to reduce the risks that Bangladeshi exporters face when it comes to collecting their goods' worth. Called...
All
major economic segments of the country will face deep trouble this year due to
the ongoing economic fallout brought on by the coronavirus pandemic, according
to a central bank report. Although the government had set a GDP growth target
of 8.20 per cent for this fiscal year citing a V-shaped...
Last week, Jerome Powell, the Federal Reserve Chairman, waved the red flag on what is increasingly looking to be a legacy of the ongoing coronavirus pandemic: a wave of small business failures. "The pandemic is presenting acute risks to small businesses. If a small or medium-sized business...
The year 2019, it seems, was an annus horribilis for the non-bank financial institutions industry. Not only did it see the fall of an institution, a development that not only undercut the confidence in the sector, the year also the industry's default loans soar 17.19 per cent...
The Bangladesh Bank (BB) has approved around Tk4,000 crore in loan proposals of banks against 300 firms under the stimulus packages for industries and service sectors affected by the coronavirus pandemic. The government has announced stimulus packages totaling over Tk1,00,000 crore to overcome the economic impact of...