BB eases loan procedure for former enclaves

Posted by BankInfo on Wed, Nov 04 2015 12:42 pm
Economic Reporter :Bangladesh Bank (BB) on Tuesday eased the loan procedures for the former 111 enclaves so the farmers there could get agriculture loan at a low rate of interest.The central bank in a directive on Tuesday asked all the scheduled banks to give loans to the people of the former enclaves if they could submit the documents issued by the upzila nirbahi officer or sub-register, certifying their ownership over lands. The documents should have photographs of farmers concerned.BB issued the directive against the backdrop of the concern expressed by some farmers of the former enclaves to get bank loans before solving the persisting dispute over the ownership of lands there.The central bank further said people of the former enclaves would also get crop loans by forming a group with at least two members.The banks have also been advised to follow the directive until determination of the ownership over the disputed land of the 111 enclaves that have already been integrated into the mainland is going to get agriculture loan.BB on August 2 issued a directive to all the scheduled banks to distribute agriculture loan among the people of the areas that are now part of Bangladesh as per the Bangladesh-India land boundary agreement.
News:New Nation/4-Nov-2015

Bangladesh Bank Governor Dr Atiur Rahman, handing over a certificate to Md Shakir Amin Chowdhury, Deputy Managing Director of Dhaka Bank Ltd for contribution towards School Banking in Chittagong Region at Bangladesh Bank Training Institute recently.

Posted by BankInfo on Wed, Nov 04 2015 12:25 pm

Bangladesh Bank Governor Dr Atiur Rahman, handing over a certificate to Md Shakir Amin Chowdhury, Deputy Managing Director of Dhaka Bank Ltd for contribution towards School Banking in Chittagong Region at Bangladesh Bank Training Institute recently.

News:New Nation/4-Nov-2015

New DMD for Shahjalal Islami Bank

Posted by BankInfo on Wed, Nov 04 2015 11:09 am


                                                                Md Monjerul Islam

Monjerul Islam has recently joined Shahjalal Islami Bank as a deputy managing director.

Prior to joining the bank, he has been serving Janata Bank as the general manager, according to a statement.

Islam started his banking career in 1983 as a senior officer of Janata Bank and served there for 32 years in various capacities.

He received his MCom degree from the marketing department of Dhaka University.

News:The Daily Star/3-Nov-2015

IMF to check updates on BASIC Bank

Posted by BankInfo on Wed, Nov 04 2015 10:40 am

Troubled BASIC Bank will figure prominently in discussion during the upcoming visit of a delegation of the International Monetary Fund, central bank officials said.

The IMF team will also discuss other issues such as performance of the banking sector and soundness indicators, the overall situation of state-owned banks, recapitalisation, and medium term reform plans on non-performing loans (NPLs).

Rodrigo Cubero, deputy division chief of IMF's Asia and Pacific Department, will lead the mission that will arrive in Dhaka tomorrow on a two-week visit.

The IMF team will also discuss the exchange rate and balance of payments situation, but their focus will be on the indicators of the state-owned banks, the Bangladesh Bank officials said.

“We have sought details from BASIC Bank so that we can present those before the IMF team,” a BB official from the department of off-site supervision said yesterday.

Recapitalisation, NPL and loan recovery efforts of BASIC are the key issues that the IMF wants to know about, the official added.

According to BASIC Bank officials, the previous board of the bank, led by Sheikh Abdul Hye Bacchu, had lent around Tk 5,500 crore between 2009 and 2013.

Of the loans, around Tk 4,500 crore has become NPL, turning the bank into a capital-deficit lender. BASIC Bank is now in great trouble as it cannot lend for want of money.

BB has also sought information from state-owned Sonali, Janata, Agrani and Rupali banks.

“We are analysing the data of these banks,” said an official of BB's financial stability department.

The NPL of Sonali, Janata, Agrani and Rupali banks stands at more than 20 percent of their total loans as of June this year, against the industry average of around 10 percent.

Sonali's NPL tops the list with more than 24 percent.

On the other hand, capital shortage of state-owned banks was around Tk 11,000 crore as of June this year.

The IMF mission will also sit with senior finance ministry officials, including Finance Minister AMA Muhith. The government's plan to reduce fuel oil prices may be discussed at these meetings, said an official of the finance ministry.

On the basis of the visit, the IMF team will prepare a report for its headquarters. The report is likely to propose a number of recommendations to revive the ailing state-owned banks, particularly Sonali and BASIC.

News:The Daily Star/4-Nov-2015


HSBC pre-tax profit up 32% at $6.1 bn, revenue down

Posted by BankInfo on Tue, Nov 03 2015 12:01 pm

AFP, Hong Kong :HSBC saw pre-tax profit surge 32 percent year on year in the third quarter on the back of lower fines the banking giant announced Monday, but revenue dropped in the wake of Asian market volatility. Group chief executive Stuart Gulliver said the performance was "resilient" but that revenue had been affected by stock market sell-offs in Asia, with revenue down four percent. The Asia-focused lender announced in June that it would cut its global workforce by up to 50,000 and sell off its businesses in Brazil and Turkey as it seeks to cut costs. "Our cost-reduction measures are beginning to have an impact on our cost base," Gulliver said, but added that there was "more to achieve". The bank is also looking at possibly moving its headquarters away from Britain but said there was a "considerable amount of work still to do" before a decision is made. "Whilst the target for completion of the review was initially set as by the end of 2015, this is a self-imposed deadline that can be moved should the Board require further work to be performed," the report said. Adjusted operating expenses were up two percent year on year, partly due to investment in regulatory programmes and compliance, the report said. HSBC was fined late last year by US and British regulators for attempting to rig foreign exchange markets. In February, it was forced to apologise for "unacceptable" failings at its Swiss division following allegations that the unit helped rich clients hide billions from the taxman. It has faced a storm over claims that it helped clients from around the world dodge taxes on accounts containing 180 billion euros ($204 billion) between November 2006 and March 2007, in cases that are being investigated in several countries.HSBC is also facing a French criminal probe over the affair. The rise in third-quarter pre-tax profits was partly due to lower fines and settlements, the report said. HSBC agreed in June to pay Geneva authorities 40 million Swiss francs ($40 million) to settle a money laundering investigation at its Swiss private bank.

News:New Nation/3-Nov-2015
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