Md. Shafiqur Rahman, Managing Director of Social Islami Bank Limited, launches Visa Gift Card by presenting SIBL Visa Gift Card to a customer of the bank at the bank's corporate office in Dhaka recently.

Social Islami Bank Limited (SIBL) introduced SIBL Visa Gift Card at a simple ceremony at the bank's Corporate Office in Dhaka recently.

Md. Shafiqur Rahman, Managing Director of the bank formally launched the card by presenting SIBL Visa Gift Card to some valued customers of the bank, said a press release.

AMM Farhad and Md. Yunus Ali, Deputy Managing Directors of the bank, Abu Sadek Md. Sohel and Principal of SIBL Training Institute were also present on the occasion.

Prof. Abu Nasser Muhammad Abduz Zaher, Chairman of IBBL, speaks at the bank’s 30th AGM at Bangabandhu International Conference Centre in Dhaka on Wednesday.

Islami Bank Bangladesh Limited has approved 25 percent dividends, 17 percent stock and 8 percent cash, to its shareholders for the year 2012.

The announcement came at the company’s 30th Annual General Meeting (AGM) held at Bangabandhu International Conference Centre in Dhaka on Wednesday.

Prof. Abu Nasser Muhammad Abduz Zaher, Chairman of the bank, presided over the meeting.

The AGM approved the balance sheet up to 31st December 2012, profit and loss account, reports of the directors and auditors of the bank and minutes of the last annual general meeting.

Yousif Abdullah Al- Rajhi, Vice Chairman of the Bank from KSA, Dr. Abdul Hamid Fuad Al Khatib, Director of IBBL from KSA, Dr. Areef Suleman, representative of Islamic Development Bank and Mohammad Abdullah AlJalahma, representative of Kuwait Awqaf Public Foundation, among others, addressed the function.

Mohammad Abdullah AlJalahma, representative of Kuwait Awqaf Public Foundation and Dr. Areef Suleman, representative of Islamic Development Bank were elected new directors in the meeting.

While speaking Prof. Abu Nasser Mohammad Abduz Zaher said Islami Bank belongs to 16 crore people of Bangladesh. Since inception, IBBL has been working as a bank for mass people of the country.

Mohammed Nurul Amin, Managing Director and CEO of NCC Bank Ltd, and Mamoon Mahmood Shah, Managing Director and CEO of ICB Islamic Bank Ltd, exchange documents after signing an agreement in Dhaka on Tuesday.

CB Islamic Bank Ltd signed a Strategic Business Agreement with NCC Bank Limited to avail the remittance service from IME (M) SD. BHD in the capital on Tuesday.

Under this agreement, customers will be allowed to get remittance related services of IME (M) SDN. BHD from any branch of ICB Islamic Bank Ltd, said a press release.

Mohammed Nurul Amin, Managing Director and CEO of NCC Bank Ltd and Mamoon Mahmood Shah, Managing Director and CEO of ICB Islamic Bank Ltd signed the agreement on behalf of their respective sides.

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.