BRAC Bank launches home loan for low, middle-income people outside Dhaka

Posted by BankInfo on Tue, Apr 22 2014 10:33 am

BRAC Bank has introduced an affordable home loan product ‘Nijer Bari’ for the low and middle-income group people outside Dhaka city.

Sir Fazle Hasan Abed, Chairman, BRAC Bank Limited, formally launched the product at a programme recently at the bank’s headquarters in Dhaka by handing over the Loan Sanction Letter to Suriya Begum, who is the first customer of Nijer Bari, BRAC Bank said in a press release issued here on Monday.

Shib Narayan Kairy and Dr. Hafiz G. A. Siddiqi, Directors, Syed Mahbubur Rahman, Managing Director and CEO, Firoz Ahmed Khan, Head of Retail Banking and senior officials were present on the occasion. 

News:Daily Sun/22-Apr-2014

AB Bank approves 7pc stock, 5pc cash divs

Posted by BankInfo on Tue, Apr 22 2014 10:00 am

M Wahidul Haque, Chairman of AB Bank Limited, is seen at an AGM of the bank at Bashundhara Convention Centre-2, in Dhaka on Monday.
 The board of AB Bank Limited approved 7 percent stock and 5 percent cash dividend for its shareholders for the year ended on 31st December 2014.

The approval came at the 32nd Annual General Meeting (AGM) of the bank at Bashundhara Convention Centre-2 in Dhaka on Monday.

Meanwhile, the annual report and the audited financial statements of the bank for the year 2013 were approved at the AGM.

M Wahidul Haque, Chairman of the bank, presided over the meeting.

Vice-Chairman Salim Ahmed, Directors, President and Managing Director Shamim A Chaudhury attended the function.

Earlier an Extra-Ordinary General Meeting (EGM) of the bank was also held.

A special resolution was approved in the EGM for issuance of ‘AB Bank Subordinated Bond’ up to Tk 2.5 billion for raising Tier-II capital subject to approval of the concerned regulatory authorities.

Total capital of bank now stands at Tk 19.15 billion. The bank completed its 32nd year of successful banking on April 12, 2014.

Net Asset Value (NAV) stood at Tk 17.31 billion in 2013 which is 7 percent higher than 2012.

Total Asset of the bank stood at Tk 209.75 billion at the end of 2013, reflecting a growth of 20 percent over last year.

During the AGM, Salim Ahmed was elected Director of AB Bank Limited by bagging a total of 11.40 crore votes against his contestant Sajedur Seraj, who secured 57,000 votes.

The election of director was held at to comply with the provisions of SEC 15(10) of Bank Company (Amendment) Act-2013 that bars two persons of a same family to hold the post of Director at the same time.

For this, contest between Salim Ahmed and Sajedur Seraj was resolved through secret ballot.
News:Daily Sun/22-Apr-2014

NBL holds Manager Conference of Dhaka City Branches

Posted by BankInfo on Mon, Apr 21 2014 12:29 pm

A branch manager conference has been held with the participation of 35 branch managers of Dhaka city and adjoining areas of National Bank Limited along with the concerned divisional heads at the training institute of the bank recently, reports in a press release. A K M Shafiqur Rahman, Managing Director & CEO was the chief guest and Md. Badiul Alam, Additional Managing Director, Shamsul Huda Khan, Abdul Hamid Mia and Syed Mohammad Bariqullah, Deputy Managing Directors and Forhad Ahmed Chowdhury, Sr. Executive Vice President were also present. The managing director and the senior executives directed the branch managers towards expansion of business and to strengthen the loan recovery measures with a view to maximize the profit in the coming months.

News:Bangladesh Today/21-Apr-2014

SCBs apply for upward revision of loan ceiling

Posted by BankInfo on Mon, Apr 21 2014 11:58 am

Three state-owned commercial banks — Sonali, Janata and Rupali — applied to Bangladesh Bank to increase their credit ceiling considering the banks’ financial health, said officials of the central bank.
According to BB data, the central bank earlier set credit growth targets for Sonali Bank, Janata Bank, Agrani Bank and Rupali Bank at 6 per cent, 10 per cent, 10 per cent and 12 per cent respectively for 2014 from 8 per cent, 12 per cent, 10 per cent and 10 per cent for 2013.
Against the central bank move, the board of directors of the three SCBs, except Agrani Bank, applied to the BB last week to increase their credit ceiling for 2014.
The Sonali Bank board requested the central bank to increase its credit ceiling to 10 per cent from the BB’s ceiling of 6 per cent and Janata Bank to 12 per cent from the ceiling of 10 per cent, a BB official told New Age.
The board of Rupali Bank, however, did not mention its expected credit ceiling, but the bank requested the central bank to reset the ceiling on the basis of its reasonable business background, he said.
According to Rupali Bank application, the bank appealed to BB to increase the credit growth in accordance with its deposit collection from the clients.
Sonali and Janata requested the central bank to reset their credit ceiling on the basis of their large business profile and financial health.
The three banks said that credit disbursement was one of the major indicators for any bank to earn operating profit.
The central bank may deny the proposals of the three banks to increase their credit ceiling although it is yet to take decision formally in this regard, the BB official said.
Another BB official said that the central bank had set the limited credit growth targets for the SCBs for 2014 to reduce their high volume of default loans, expedite their loan recovery rate and improve their core risk management operations.
The BB started to set lower credit ceiling for the state-owned banks since 2013 as the financial health of the banks deteriorated massively in the period due to scams and corruptions.
The central bank unearthed a number of loan scams in the past few years including Hallmark Group, Bismillah Group and S Alam Group loan scams at Sonali and Janata banks and that was one of the key reasons for lowing the credit expansion targets for the two SCBs, he said.
The central bank set the credit ceilings in accordance with the memoranda of understanding signed between the BB and the SCBs.
Under the MoUs, the BB calculates the credit ceiling excluding farm loans, staff loans and government borrowing to be provided by the four banks.
The BB data showed that the four banks except Rupali failed to achieve the credit growth in 2013 set by the BB.
In 2013, Sonali Bank posted a 7-per cent negative credit growth, Janata Bank a 1.15-per cent growth and Agrani Bank a 0.63-per cent negative growth.
Rupali Bank, however, registered a credit growth of 13.98 per cent, surpassing the ceiling of 10 per cent set by the central bank.
The BB official said the SCBs had adopted cautious policy to disburse loans in last year that decreased the credit growth at the three banks.
Besides, political unrest in the run up to the national elections held on January 5 also created an adverse impact on their credit growth as the majority of businesspeople were reluctant to take bank finance in the period, he said.

News:new Age/21-Apr-2014

Pubali Bank holds training

Posted by BankInfo on Mon, Apr 21 2014 11:28 am

Helal Ahmed Chowdhury, Managing Director and of Pubali Bank Ltd,and Dr. Taufique Ahmed Chowdhury, Director General of the BIBM, are seen with the participants of a training course at BIBM in Dhaka recently.


 A 15-day special training course jointly organised by Human Resources Division of Pubali Bank Ltd. (PBL) and the Bangladesh Institute of Bank Management (BIBM) was held at BIBM in Dhaka recently.

The training course was arranged to make Audit Officer for the bank skilled. Some 25 officers of the bank took part in the Training Course, said a press release.

News:Daily Sun/21-Apr-2013
1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9