National Credit and Commerce Bank Limited (NCC Bank) collected deposit of Tk 76.51 billion during the first six months of the current fiscal year, which is 13 per cent more than that of the corresponding period of the previous fiscal.

The bank’s total loans and advances stood at Tk 67.08 billion in June 2011.

This was revealed at a two-day long half-early conference of branch managers and executives of the bank, concluded in the city yesterday, said a press release.

Chairman of the bank Md Nurun Newaz inaugurated the conference as chief guest while directors Sohela Hossain, K Z Mahmud, Tofazzal Hossain, Khairul Alam Chaklader and Professor Shahid Uddin Ahmed were present as special guests.

Mohammed Nurul Amin, managing director and chief executive officer of the bank, chaired the function while the bank’s additional managing director Golam Hafiz Ahmed, deputy managing directors AK Md Siddique, Swapan Kumar Das, Mohabbat Khan, TM Faruque Chowdhury, executives and branch managers, among others, were present. In his speech, bank’s chairman Nurun Newaz said: “Banking activities has radically been changed as it is not just procuring deposit and lending money in conventional way today.”

News: Daily Sun/ Bangladesh/ July-31-2011

Bangladesh Bank has directed all scheduled banks to open complaint cells in their zonal offices by a month.

The financial and banking sector regulator yesterday issued a circular to that effect saying that the cells would be like those currently prevailing at the banks’ head offices

The circular said BB’s branch offices are struggling to settle piled-up complaints against various scheduled commercial banks’ zonal offices because of an absence of the banks’ own complaint cells there.

The circular also instructed send the central bank the names of the cells and other contact details including phone and fax numbers, e-mail address and others.

News: Daily Sun/ Bangladesh/ 25-Jul-2011

Bangladesh Bank (BB) will announce the monetary policy today (Wednesday) for setting its half-yearly strategy for controlling the cost and supply of money and credit.

Governor of Bangladesh Bank, Dr Atiur Rahman will announce the monetary policy for the first half of the current 2011-12 fiscal year at his office at 2:30 pm, presumably keeping inflation and credit flow on the forecourt of the prime agenda of the central bank, said a BB press release.

Speculations are there that the policy would tighten further the credit flow to non-productive sector while it would ease further the lending to imports of essential commodities to help contain food price inflation.

News: Daily Sun/ Bangladesh/ 27-Jul-2011

anata Bank Limited installed online Credit Information Bureau (CIB) system on Monday for collecting report of the credit applicants.

Golam Sarwar, managing director and CEO of the bank, inaugurated the programme, said a press release.

By this system, the bank could collect credit information of the customers through on-line facilities belong to other banks of the country. The new facility will enable the bank to offer better service to the customers by disbursing loan without any hassle.

News: Daily Sun/ Bangladesh/ 25-Jul-2011

Sandeep Bahl, managing director, Head of Financial Market Sales (South Asia) of Standard Chartered Bank (SCB) arrived in Dhaka yesterday.

He is scheduled to meet senior officials of the bank, key clients and regulators, said a press release.

Sandeep Bahl has more than 18 years of banking experience, out of which 15 years he has spent in Financial Markets. Sandeep has worked in various countries including the United Kingdom, India, Africa and Malaysia in businesses including sales, structuring and research.

Prior to his current role, Sandeep was the Managing Director, Head of Global Markets Malaysia and managed a business spread over 14 countries. Sandeep has a MBA degree from Delhi University, India and also holds a Master in Finance from London Business School. He is accompanied by Samiran Chakraborty, regional head of Research, India and Biswajeet Sengupta (Head of Sales, East and Bangladesh).

News: Daily Sun/ Bangladesh/ 27-Jul-2011