Banking & Commodity

The amount of credit card-based transactions increased by 23.43 per cent or Tk 1,594.7 crore year-on-year in July-December of 2020 as a section of people used the financial product as a last resort for purchasing essential goods due to income erosion amid the COVID-19 outbreak.

Bank’s default loans account for about 98% of its total loans

The Bangladesh Bank has instructed the poorly-performing Rajshahi Krishi Unnayan Bank to take corrective measures over violation of rules relating to transfer and promotion of the specialised bank’s employees.

On February 4, at a roundtable organised by Eastern Bank, Hideaki Kojima, the country representative of Japan’s largest lender, said Bangladesh has the most complicated letters of credit opening conditions.

While the government is fervently trying out new ways to draw investment to boost economic growth, some state bodies continue to cling on to their customary negligent behaviours, effectively marring all progress.

Banks swept under the rug Tk 12,140 crore in defaulted loans in the nine months to September last year by rescheduling and writing those off.

Loan disbursement through the channel is propping up rural economy

Janata Bank Limited (JBL) has mobilized deposits worth Taka 4,396 crore against the target of 4,070 crore in 2020 despite the adverse impact of Covid-19 pandemic situation in Rajshahi division.

The IT freelancers will now be able to bring home their small-value earnings through mobile financial services (MFSs).

Local clothing retailers and brands expect their sales to revive in the upcoming Pahela Falgun, Valentine’s Day, Pahela Baishakh and Eid festivals thanks to the arrival of the Covid-19 vaccine, according to market insiders.