Banking
HSBC selling stakes in Axis Bank, Yes Bank
UK lender HSBC on Tuesday offered its entire stakes in Axis Bank and Yes Bank through share sales worth up to 24.5 billion rupees, according to a term sheet obtained by Reuters.
HSBC offered 19.6 million shares in Axis Bank for 950.9-970.9 rupees each and 16.8 million shares in Yes Bank for 318.1-324.8 rupees per share through its Mauritius subsidiary, the term sheet said.
Shares in both banks were being sold through HSBC's Mauritius subsidiary at discounts of 3 to 5 percent to their closing price on Tuesday, the term sheet said.
The Daily Star/Bangladesh/ 28th June 2012
Shahjalal Islami Bank re-elects top brass
Anwer Hossain Khan
Anwer Hossain Khan has recently been re-elected as chairman of Shahjalal Islami Bank Ltd, according to a statement of the Bank yesterday.
The election took place at the Bank's 154th board meeting where Md Harun Miah and Khandoker Sakib Ahmed were re-elected as vice chairmen.
Khan obtained his masters degree from Dhaka University. He is the chairman and managing director of Anwer Khan Modern Medical College, Modern Diagnostic Centre Ltd, Anwer Khan Modern Hospital and Haji Sakawat Anwara Modern Eye Hospital.
Harun Miah is the managing director of Kushiara Financial Services Ltd, Kushiara Travels Ltd and Homelink Remit Ltd. Ahmed is the managing director of Zuairia Group, Zuairia Trade International, ZED Agrovet and sponsor of Shahjalal Islami Bank Securities Limited.
The Daily Star/Bangladesh/ 28th June 2012
City Bank, IFC join hands
The City Bank Limited has recently signed agreements with International Finance Corporation (IFC) for participation in global trade finance programme and short term rollover loan facilities, says a press release.
This will enable City Bank to extend USD based short term funding to eligible companies and strengthen its trade finance services.
K Mahmood Sattar, managing director and chief executive officer of City Bank, and Kyle F Kelhofer, country manager, Bangladesh, Bhutan and Nepal of IFC, signed the agreements at the Banks head office at City Bank Centre, Gulshan, in the city.
Faruq M Ahmed, Additional managing director and chief risk officer, and Sheikh Mohammad Maroof, deputy managing director and head of wholesale banking division of City Bank, and M Rehan Rashid, senior country officer of IFC, were also present.
The Independent/Bangladesh/ 27th June 2012
UCBL opens branch in Ctg.
United Commercial Bank Limited has opened its 121st branch at Bhatiary in Chittagong Tuesday.
Anisuzzaman Chowdhu- ry (Ronny), Director of United Commercial Bank inaugurated the branch as chief guest while Setara Begum, Director of UCBL, M Shahjahan Bhuiyan, Managing Director of UCBL were also present.
Additional Managing Director Mr. Mirza Mahmud Rafiqur Rahman and Deputy Managing Directors Mr. Mamun-Ur-Rashid & Mr. Mohammad Shawkat Jamil along with other officials of head office and different branches of Chittagong of United Commercial Bank Limited were present at the branch opening ceremony.
United Commercial Bank Limited, one of the best private banks of the country is committed to give the best service to clients with a wide range of branch networks all over the country since 1983.
The Daily Sun/Bangladesh/ 27th June 2012
MoneyGram inks deal with NBL to expand network
Harsh Lambah, Senior Regional Director of MoneyGram for South Asia, and Neaz Ahmed, Managing Director of National Bank Ltd, seen at a function in Dhaka Tuesday.
MoneyGram International signed an agreement with National Bank Limited on expanding its netwrok in Bangladesh.
Under this agreement, National Bank will act as MoneyGram’s new growing agent here and has already added more than 155 National Bank locations to MoneyGram’s existing strong network throughout the country.
Harsh Lambah, Senior Regional Director of MoneyGram for South Asia, and Neaz Ahmed, Managing Director of National Bank Ltd jointly announced this in Dhaka Tuesday.
“We are proud of our new association with National Bank, as they are a local leader with extensive experience in the money transfer space,” said Lambah.
National Bank, the first private sector bank fully-owned by Bangladeshi citizens, has locations spread across the country, with a significant presence in the cities of Dhaka, Chittagong and Sylhet.
“National Bank is experienced in providing money transfer services and we are very pleased to offer MoneyGram’s service to our customers,” said Neaz Ahmed.
The Daily Sun/Bangladesh/ 27th June 2012