Asia-focused banking giant HSBC said Monday that its net profit more than doubled to $13.16 billion (9.56 billion euros) last year as bad debts plunged to the lowest level since 2006.

HSBC said in a results statement that pre-tax profits soared 170 percent to $19 billion in 2010, while loan impairments and other credit risk provisions dived 47 percent to $14.04 billion. Revenues rose 3.1 percent to $68.3 billion.

"Underlying financial performance continued to improve in 2010," HSBC chief executive Stuart Gulliver said in the results statement.

News: The Daily Star Bangladesh/ Mar-01-2011

Six state-owned banks have disbursed Tk 38.1 crore to hundreds of marginal farmers across the country as special credits at an interest rate of 2 percent.

The banks -- Sonali, Janata, Agrani, Rupali, Bangladesh Krishi Bank (BKB) and Rajshahi Krishi Unnayan Bank (Rakub) -- disbursed the loan in the past eight months under a special credit programme of Bangladesh Bank.

The central bank last year announced the special agriculture credit for farmers who seldom get institutional financial support to grow some non-traditional but essential crops like pulses, oil seeds, onion, ginger, turmeric and mage.

Accordingly, the central bank also arranged a special fund of Tk 96 crore to disburse among farmers this year who need cash support to grow the crop.

The amount the six public banks disbursed until February 17 was 39.67 percent higher than the target of this period.

Of the credit, BKB disbursed the highest amount of Tk 13.36 crore followed by Agrani Bank's Tk 8.23 crore. Sonali, Janata, Rakub and Rupali disbursed Tk 7.43 crore, Tk 6 crore, Tk 2.99 crore and Tk 7.98 lakh respectively.

According to a survey conducted in January this year, prices of onion decreased by 30 percent, ginger by 22.22 percent and turmeric by 6.06 percent.

BB Governor Atiur Rahman told a conference of the marginal farmers this month in Bandarban that they would get continuous support from the banking system to make the country self-reliant for spices and pulses as well as for major food grains.

News: The Daily Star/ Bangladesh/ Mar-01-2011

Sonali Bank Limited (SBL), a state-owned commercial bank, has held its 'Business View Exchange Meeting-2011' in Dhaka on Friday.

The meeting was organised to underscore its work plans for the year 2011 through evaluating the past year's business achievement, said a press release.

M Humayun Kobir, managing director and also chief executive officer of the bank, presided over the meeting while its chairman Kazi Baharul Islam attended as chief guest.

SBL Directors Lutfar Rahman Khan, Shuvash Chandra Singha Ray, Advocate Sottendranath Bhaktto were present at the meeting as special guests. Among others, deputy managing director Mustak Ahmed and M Atiqur Rahman were also present.

News: Daily Sun/ Bangladesh/ Mar-01-2011

Social Islami Bank Ltd yesterday launched four deposit products as a part of its campaign to mark the month of country’s independence in a befitting manner. The deposit schemes--- Swapner Shiri, Sonali Din, Shachhondo Protidin and Shomriddhir Shopan, were outlined during a meeting at the board room of the bank’s head office in the city, said a press release. The bank has chalked out two campaigns--Shadhinotar Chetonai Amader Nibedon(A gift inspired by the spirit of independence) and Amader Sheba( Our Services) to celebrate the month. Under the scheme ‘Swapner Shiri’ a person’s dream to become a ‘Lakhopoti’ will come true with in 2, 3, 5 or 10 years. With ‘Sonali Din’, a depositor can withdraw the total amount at once or as monthly pension basis with attractive profit after maturity of the scheme. Under the product ‘Shachhondo Protidin’ an account holder can withdraw Taka 1,000 per month by depositing Taka 1.00 lakh for a three-year period. In ‘Shomriddhir Shopan’ the scheme holder’s deposited money will be double with in six years.

News: Daily Sun/ Bangladesh/ Mar-01-2011

Ten best rated commercial banks have been awarded by Exclusive Economic Weekly. 
The Industry in respective of performance in efficient asset management, keeping sufficient capital adequacy, controlling non- performing loan and generating satisfactory income. The function was held on Sunday at National  Press Club, Dhaka, says a press release.
Former Governor of Bangladesh Bank Dr. Mohammed Farashuddin was attended the function as chief guest, while eminent banker and Chairman of Bangladesh Commerce Bank A. Q. Siddiqui, immediate past Senior Vice President of Dhaka Chamber of Commerce and lndustry M. Sbahjahan Khan attended as special guests.
Enayet Karim, editor of the weekly presided over the function. The best rated award winning banks are: Prime Bank, Commerrcial Bank of Ceylon, Pubali Bank, Shahjalal lslami Bank, Islami Bank Bangladesh Limited, AI-Arafah Islami Bank, Standard Bank, Bank Alfalah, Exim Bank and United Commercial Bank.

News: The Independent/ Bangladesh/ Feb-28-2011