Banking
NCC Bank hold workshop
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NCC Bank Ltd organised a workshop on ‘Internal Control and Compliance’ for the bank’s executives and officers of ICC Division at the bank’s Training Institute in Dhaka recently.
Md. Amirul Islam, Chairman of the Audit Committee of the Board of the bank attended the workshop as chief guest, said a press release.
In his speech, he emphasised on importance of Internal Control and Compliance (ICC) in banking. He also advised the participants to follow and implement the ICC guidelines meticulously.
Golam Hafiz Ahmed, Managing Director and CEO of the bank attended the workshop as special guest.
BRAC Bank gets ‘Sustainable Marketing Excellence Award’
BRAC Bank was recently awarded with ‘Sustainable Marketing Excellence Award’ from CMO Asia at the annual World Brand Congress in Singapore.
The award was accorded as part of Global Brand Excellence Awards of CMO Asia, the most prestigious brands award in Asia, said a press release received on Tuesday.
The award was handed over to BRAC Bank at World Brand Congress at The Pan Pacific, Singapore recently.
Zeeshan Kingshuk Huq, Head of Communication and Service Quality, BRAC Bank, received the award.
On winning the award, Syed Mahbubur Rahman, Managing Director and CEO, BRAC Bank, said, “The prestigious award carries special significance for BRAC Bank as it is the first brand award for us. The award puts BRAC Bank in global spotlight in the arena of global acclaimed brands.”
“The international accolade brightens image of the country as well on global stage. It strengthens our conviction that Bangladesh can breed strong brand at par with international standard,” he added.
HSBC bank says profits fall in first half
Bank giant HSBC said on Monday that profits fell in the first half because one-off gains were not repeated and after a weaker showing at its investment arm.
Net profit dropped to $9.746 billion (7.259 billion euros) in the six months to June 30 compared with earnings after tax totalling $10.284 billion in the first half of 2013, the British lender said in an earnings statement.
Reported profit before tax dropped to $12.3 billion as last year's first half benefited from higher gains from disposals and reclassification of HSBC's interest in China's Industrial Bank.
Pre-tax profit at HSBC's investment division dropped 12 percent to $5.0 billion in the first half.
HSBC chief executive Stuart Gulliver said that the bank's overall interim results "demonstrate the resilience" of its business model.
"Whilst regulatory uncertainty persists, our balance sheet remains strong and our continuing ability to generate capital supports both growth and our progressive dividend policy," he added in the statement.
The Asia-focused lender is pushing on with its savings programme, having announced last year plans to cut costs by a further $2.0 billion to $3.0 billion between 2014 and 2016.
Following the results, HSBC's share price was up 0.33 percent to 631.4 pence on London's benchmark FTSE 100 index, which trading 0.06-percent higher at 6,682.15 points in mid-morning deals.
"The FTSE 100 started the week off on sound footing, but worse-than-expected HSBC figures have dented the early momentum," said Alastair McCaig, market analyst at IG trading group.
The bank added that underlying revenue fell 4.0 percent to $31.36 billion in the first half, while operating expenses rose 2.0 percent to $18.24 billion.
"In the first half of 2014, against a backdrop of continuing low interest rates and reduced financial market volumes, HSBC produced a suitably well-balanced financial performance," said the bank's chairman Douglas Flint.
"At a time of residual concerns over the sustainability of economic growth in many major markets and with heightened geopolitical tensions apparent, the board supported management's view that this was not the time to expand risk appetite to offset the effect of lower revenues," he added in the statement.
CIB weakness prompts BB to ask banks to submit monthly large loan status
The statement will have to be submitted within 10th of next month, said a circular Bangladesh Bank issued yesterday with immediate effect
Bangladesh Bank has asked all the schedule banks to submit monthly the large loan statement through the central bank’s web portal.
The statement will have to be submitted within 10th of next month, said a circular Bangladesh Bank issued yesterday with immediate effect.
The banks will also have to submit hard copy of the statement and soft copy of CIB statement to the Department of Off-site Supervision (DOS) of Bangladesh Bank until further notice.
The central bank has no accurate information about the large loans. As a result, it could not monitor the large loan clients and identify who are holding loans violating the rules, said a senior executive of Bangladesh Bank.
He said the Credit Information Bureau (CIB) of central bank is supposed to preserve the loan statement, but most of the information is inappropriate as it maintains the data provided by the banks. “There is no scope to recheck the information.”
The CIB, however, is supposed to be a most functional department as banks provides loans to the clients based on its clearance that a client is not already a defaulter. Unfortunately, the CIB remains non-functional, said the executive.
As a result, he said, the loan defaulters are getting loan through taking the advantage of the weakness in the CIB. Sometimes innocent people are being harassed due to CIB clearance with wrong information, he added.
Under the circumstance, the central bank has asked the banks to submit the large loan statement to the DOS, he said.
News:Dhaka Tribune/5-Age-2014
Al-Arafah Islami Bank opens ATM booth in Pirojpur
Md Habibur Rahman, Managing Director of the bank inaugurated the booth as chief guest, said a press release.
Md Golam Sorwar, UP Chairman of Bhandaria Sadar, Alhajj Siddique Hossain Talukder, Abul Bashar Gazi, local businessmen and Md Monjurul Alam, Senior Vice President and Zonal Head of AIBL Khulna Zone and SM Khalid Hossain Talukder, Manager of AIBL Vandaria Branch attended the function.
The bank has taken great initiatives to spread its ATM Booth Network to serve its clients more efficiently.
Clients of the bank will be able to use these ATM Booths 24 hours a day through their ‘AIBL FastCash’ ATM Cards.