Mesbah Uddin Ahmed recently joined Rajshahi Krishi Unnayan Bank (RAKUB) as General Manager.

Prior to this new position, he was General Manager of ,Bangladesh Krishi Bank said a press release.

He has started his career with Bangladesh Krishi Bank as Assistant Controller in 1978. During his 35 years banking services he worked skillfully in different zonal offices as Zonal Managers and departmental heads at various important departments in Head Office of RAKUB.

He completed his Honors and Master’s in Agro-Economics from Bangladesh Agriculture University at Mymensingh.

Five banks incurred losses while most others recorded huge profit fall in the first quarter of this year compared with the same period of the previous year due to poor business environment and provisioning pressure against increasing defaulted loans.

Among the 30 banks listed with Dhaka Stock Exchange, 5 incurred losses and 20 saw significant drop in profit while profit of five banks increased in the January-March period of the current year.

Bankers said that most of the banks had failed to meet the loan disbursement target due to the ongoing political crisis across the country, which caused the profit fall.

Besides, many borrowers did not repay loans, which resulted in the increase of defaulted loans.
‘We think increased classified loans is the main reason behind the profit fall in the first quarter of the present year,’ Association of Bankers Bangladesh president Nurul Amin told New Age.

‘Turmoil on the political front was another reason for the poor business environment that led to a poor credit growth in the banking sector,’ said Amin, who is also the managing defector of NCC Bank.

Some banks got extended time to keep provisioning against the classified loans and as they are doing that now, the profit is going downwards, he said. He said the situation is unlikely to improve till July this year, which will also depend on the country’s political stability.

Different irregularities in the banking sector that had pushed the banks on the backfoot and increased classified loans have been identified recently, Pubali Bank managing director Helal Ahmed Chowdhury told New Age.

As the banks have to keep provisioning against the huge classified loans in the period the profit went down, said Helal, also the vice-president of the Association of Bankers Bangladesh.

The ongoing political instability across the country is hindering expansion of businesses, he added.
According to data available from the Dhaka Stock Exchange, United Commercial Bank incurred losses worth Tk 99.98 crore in the first quarter of the year while it had made a profit of Tk 41.28 crore in the same period of the previous year. 

Prime Bank incurred losses worth Tk 151.73 crore from Tk 47.74 crore profit, Al-Arafah Islami Bank incurred losses worth Tk 25.12 crore from profit of Tk 66.61 crore, Exim Bank lost Tk 74.03 crore from profit of Tk 28.53 crore and National Bank lost Tk 14.29 crore from profit of Tk 158.96 crore.

Among the banks that witnessed profit decline, Standard Bank’s profit declined to Tk. 30.96 crore from Tk 41.34 crore, ONE Bank to Tk 2.55 crore from Tk 17.21 crore,

Islami Bank to Tk 58.09 crore from Tk 196.95 crore, Mutual Trust Bank to Tk 0.12 crore from Tk 11.32 crore, IFIC Bank to Tk 0.60 crore from Tk 29.92 crore,

Trust Bank to Tk 12.09 crore from Tk 22.43 crore, Dhaka Bank to Tk 19.82 crore from Tk 41.96 crore, Pubali Bank to Tk 30.83 crore from Tk 60.69 crore and Dutch Bangla Bank to Tk 30.02 crore from Tk 61.28 crore.

Md Shahabuddin Alam

Md Shahabuddin Alam has been elected the vice-chairman of Mercantile Bank recently, said a press release. 
The chairman of SA Group of Industries, he has been leading his family business since 1988 on completion of his post-graduation degree.

Bank Asia Limited has signed a Memorandum of Understanding (MoU) with Urban Design and Development Ltd (UDDL), in order to provide house finance support to intended individual borrower at the corporate office of the bank in Dhaka recently.

Md. Mehmood Husain, President and Managing Director of Bank Asia, and Nazim Uddin Ahmed, Managing Director of UDDL signed the agreement on behalf of respective sides.

Bank Asia Limited has signed a Memorandum of Understanding (MoU) with Urban Design and Development Ltd (UDDL), in order to provide house finance support to intended individual borrower at the corporate office of the bank in Dhaka recently.

Md. Mehmood Husain, President and Managing Director of Bank Asia, and Nazim Uddin Ahmed, Managing Director of UDDL signed the agreement on behalf of respective sides.

Mohammad Abdul Mannan has been appointed as managing director and CEO of Islami Bank Bangladesh Limited on Sunday for another 3 years, says a bank press release.

A successful banking career of three decades in the Islami Bank as head of Investment Wing, International Banking Wing, Divisional Head,

Branch Manager and Remittance Marketing Officer in six Gulf countries. He did substantial works to popularize shariah based financial products and human development.