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Old December 27th, 2006, 07:07 PM   #1
Banglabir
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Banks and Financial institutions in Bangladesh

Mutual Trust Bank branch at Savar inaugurated


Mutual Trust Bank Limited has recently inaugurated its 24th branch in the town of Savar dignified with the solemnity of National Mausoleum built in rememberence of the martyrs who died for our sovereignty. The Chairman of the bank Syed Manzur Elahi inaugurated Savar Branch at United Super Market near Savar Bazar Bus Stand, Savar as chief guest, says a press release.
Bank's Managing Director Mosharraf Hossain, Executive Vice Presidnet AKM Shameem, Senior Vice Presidents Salahuddin Mahmud, Nurul Islam and Md. Hashem Chowdhury attended the inaugural ceremony. Md. Jamal Uddin, President of United Super Market Businessmen Association, also spoke at the opening ceremony. A good number of local elite, businessmen and Executives of the bank were present during the inauguration of the branch.
At the inaugural ceremony bank's Chairman Syed Manzur Elahi said that with the start of operations of Mutual Trust Bank in Savar an inseparable bondage would be built with the residents of Savar in mutual confidence, honesty and service. He added that imparting best' service to the customers and ensuring their satisfaction are the prime objective of Mutual Trust Bank. Elahi also said that the bank is determined to win the minds of the customers of Savar with best service paying tribute to the martyrs.
Bank's Managing Director Mosharraf Hossain said in his welcome speech that Mutual Trust Bank is being directed by a dynamic and strong Board of Directors. He said that with the opening of the branch, the people of Savar would be able to avail banking service easily. Hossain said further that bank's Savar Branch will deposit the remittance in the accounts of the beneficiaries within the shortest time sent by the expatriate relatives of the customers of Savar. He said that big or small all remitters are equally important to the bank and bank's efficient officers are always at the service of the customers. He assured that any problem will be solved instantaneously to ensusre smooth service.


http://www.thebangladeshtoday.com/economy.htm
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Old December 27th, 2006, 07:19 PM   #2
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Bank Asia opens 24th branch in Khulna


Bank Asia inaugurated its 24th branch at Shib Bari Mor in Khulna on Monday, says a press release. Vice Chairman of the bank A Rouf Chowdhury inaugurated the first branch of the bank in Khulna region.

Vice Chairman Arifur Rahman Sinha, directors Mohd Safwan Choudhury, Jahir Uddin, M Shamsul Alam and Mir Shahjahan, and President and Managing Director of the bank Syed Anisul Huq were present on the occasion.

Speaking at the function, A Rouf Chowdhury focused on the economic growth in Khulna region and regretted that despite vast potential, the area remains neglected.

He said the new branch of the bank will contribute to the economic betterment in Khulna.

Dwelling on the bank's social responsibility, he said the bank has launched a programme to provide full financial assistance for operation of born-blind children of the country. President and Managing Director Syed Anisul Huq described the wide range of financial services that are available to the clients of the bank.


http://www.thedailystar.net/2006/12/20/d61220051269.htm
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Old January 6th, 2007, 05:38 PM   #3
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Pubali Bank opens branch at Ashulia


Pubali Bank Limited (PBL) recently opened its 355th branch at Savar's Ashulia. PBL Managing Director (MD) Helal Ahmed Chowdhury formally inaugurated the branch as the chief guest.

PBL GM (General Manager) (Human Resources Division) Mirza Ali Insaf, GM (Credit Division) Mizanur Rahman Molla, GM (General Services and Development Division) AHM Badrul Alam, GM (Mohakhali Corporate branch) Dipak Kumar Chakraborty, GM (Dhaka North zone) Md Shah Alam, Manager of Ashulia branch Md Bashirul Alam and other executives along with a number of local elite and renowned businessmen were also present in the function. A milad mahfil was also held on the occasion.

PBL MD in his speech said the bank gives priority to provide opportunity and advantage to the customers through application of modern technologies.
PBL is committed to provide the best and innovative banking services in the fastest possible time. As a part of providing better services, the bank has opened its 355th branch at Ashulia, he also said.

He also expressed optimism that the branch would make remarkable contribution in the business development of Ashulia area.
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Old January 9th, 2007, 07:00 PM   #4
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Operating Profits In 2006
Commercial banks post 26pc growth

Rejaul Karim Byron

Country's commercial banks--both nationalised and private sectors-- posted a 26 percent growth in operating profits in 2006 compared to the growth the previous year.

The nationalised commercial banks (NCBs) and private commercial banks (PCBs) clocked 48 percent growth in the year 2005.

Despite a comparatively low growth in profit in the just concluded calendar year, according to the bankers, the profit in terms of volume reached nearly Tk 5000 crore mark.


Syed Naser Bakhtiar, managing director of Agrani Bank, said, "The two factors that mainly contributed to such a rise in operating profits, firstly, almost all the banks improved their internal management following the Bangladesh Bank guidelines, and secondly, the overall business activities get a boost in the country."

Another top official of a private bank said as the GDP growth reached around 7 percent in FY 2005-06, the banking relating to export, import and investment also increased, resulting in a hefty growth rate in operating profits of the banks.


The central bank's tight monetary policy prompted the NCBs and PCBs to raise interest rate on loan and lower it on deposits, remarked another private bank top brass.


According to the banking sources, the 33 banks made a profit of Tk 4,852 crore in 2006. In 2005, the profit stood at Tk 3,851 crore. Four NCBs made a profit of Tk 1,135 crore and 29 PCBs Tk 3,717 crore in 2006, while the NCBs profited Tk 1,020 crore and PCBs Tk 2,831 crore in 2005.


Among the NCBs, profit of Sonali Bank went down by 17 percent while that of Rupali Bank lowered by 62 percent. On the other hand, Agrani Bank made a 60 percent growth and Janata Bank made a 26 percent growth in profits.


Sonali Bank made a profit of Tk 330 crore in 2006 against Tk 396 crore in 2005 while Janata Bank's profit was Tk 415 crore in 2006 against Tk 330 crore in 2005, Agrani Bank earned a Tk 360 crore profit against Tk 214 crore and Rupali Bank Tk 30 crore against Tk 80 crore.


Sonali Bank sources said due to huge default loan of Bangladesh Petroleum Corporation (BPC), the bank did not go for petroleum import in favour of BPC, which resulted in a loss in operating profits of the bank.


On the other hand, Agrani Bank did the business of petroleum import, which helped the bank to register a growth in profits.


Among the PCBs, five banks made profit of over Tk 200 crore in terms of volume, The banks are Islami Bank, Prime Bank, Southeast Bank, Pubali Bank and National Bank.

In terms of growth rate performance, Brac Bank's profit upped by 76 percent, AB Bank's 69 percent, Al Arafah Islami Bank's 68 percent, National Bank's 66 percent and both Shahajalal Islami Bank's and Jamuna Bank's 60 percent.

http://www.thedailystar.net/2007/01/09/d70109050162.htm
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Old January 10th, 2007, 07:03 PM   #5
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Thank you Banglabir.
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Old January 11th, 2007, 12:34 AM   #6
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hey no problem, thanks.
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Old January 17th, 2007, 12:48 AM   #7
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Trust Bank opens millennium corporate branch
FE Report
1/17/2007



Sena Paribar Kalyan Samity (SPKS) patron Naznin Moeen has recently inaugurated the millennium corporate branch of Trust Bank Limited (TBL).
TBL Managing Director and CEO Iqbal U Ahmed along with other high officials were also present on the occasion. TBL, one of the country's growing commercial banks, has been operating since 1999, and has so far opened twenty-six branches.
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Old January 22nd, 2007, 10:52 AM   #8
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IBBL achieves outstanding progress in foreign business
FE Report
1/21/2007

Chairman, executive committee of Islami Bank Bangladesh Limited (IBBL) Mominul Islam Patwary said the bank has achieved an outstanding progress in foreign business confronting manifold challenges in the past years. The officials of the bank should work hard to retain its position in the banking arena.
He was speaking at a workshop on "Foreign Trade and Remittance" organised by International Banking Wing of Islami Bank Bangladesh Limited (IBBL) as the chief guest.
The workshop was held Saturday at the Mohammad Younus Auditorium of Islami Bank Tower in the city.
Presided over by Deputy Executive President and Head of International Banking Wing of the bank Mohammad Abdul Mannan the function was attended, among others, by Deputy Executive President and Head of Investment Wing A T M Harun-Ur-Rashid Chowdhury, Deputy Executive President and Head of Internal Control and Compliance Wing Mohd Shamsul Haque and Deputy Executive President and Head of Local Office Dhaka Md Habibur Rahman.
The function was addressed, among others, by Senior Vice- president and Manager Nawabpur Branch Md Nurul Islam, Senior Vice- president, International Banking Wing Md Mahbub-ul-Alam and Senior Vice- president and Manager, Head Office Complex Branch Abdus Sadeque Bhuiyan.

It was disclosed at the function that IBBL handled foreign exchange business to the tune of Tk. 201.82 billion in 2006 as against Tk. 147.64 billion in the preceding year; the growth rate in this regard is 37 per cent.

In the year 2006 the import portfolio of the bank increased to Tk. 96.87 billion from Tk. 74.53 billion in the preceding year showing a growth rate of 30 per cent which is more than the national growth of 19 per cent.

Export of the bank stood at Tk 51.13 billion from Tk. 36.17 billion showing a growth rate of 41 per cent as against 24 per cent of the national growth.

This figure of development was continuing through out the previous year.
Mominul said the bank is the reflection of the hopes and expectations of the general people. The bank has launched it's adventure to materialise the principles of Shariah. The staff of the bank should continue their duty for the highest advancement of service and ideology.

http://www.financialexpress-bd.com/i...=50126&spcl=no
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Old January 22nd, 2007, 11:15 AM   #9
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Banglabir, you've been doing a great job but could you please post something about the Saudi prince buying Rupali Bank, I'm really interested to know the progress.
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Old January 23rd, 2007, 04:02 AM   #10
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thanks Dhakaya, highly appreciate your continious support......... Actually, last time I checked, according to some source, the government is planning to sell the entire rupali bank to Saudi prince.......no confirmed news yet though. I will keep my eye open, and definitely post anything related to rupali bank deal that comes my way.

Last edited by Banglabir; January 23rd, 2007 at 04:07 AM.
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Old January 23rd, 2007, 01:30 PM   #11
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Quote:
Originally Posted by Banglabir View Post
thanks Dhakaya, highly appreciate your continious support......... Actually, last time I checked, according to some source, the government is planning to sell the entire rupali bank to Saudi prince.......no confirmed news yet though. I will keep my eye open, and definitely post anything related to rupali bank deal that comes my way.
Thanks!
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Old January 27th, 2007, 08:05 AM   #12
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Bangladesh halts operations of Oriental Bank

The Bangladesh government suspended operations of Oriental Bank Ltd for six months, while the bank filed fraud charges against 24 of its former top officials, the finance ministry and police said on Thursday.

"The business of the Oriental Bank has been suspended for six months from Jan. 25, 2006 to redress sufferings of the depositors and to create conditions for recovering loans and advances given by the bank," the finance ministry said in a letter addressed to the governor of the Bangladesh Bank.

Oriental Bank has about 160,000 depositors, of whom nearly 140,000 have deposits of less than 100,000 taka ($1,449) each.

The depositors will be able to withdraw a maximum of 10,000 taka each, the ministry said.

"It (the decision) was inevitable ... and we hope by this (six months') time, we will be able to overcome the present bleak situation," central-bank appointed Managing Director Asaduzzaman Khan told reporters.

Oriental has 30 branches across the country and employs about 600 people.
In June 2006, the central bank took over the management of the Oriental, and its investigation report later said there had been gross violations of banking regulations in loan disbursement.

The bank on Thursday filed cases against 24 former officials including Chief Executive Koyes Sami and major shareholder Obaibul Karim, alleging embezzlement of about 6 billion taka, the central bank said.

Sami and Karim could not immediately be reached for comments.

Oriental's total deposits were 23.82 billion taka and its investments 18.11 billion taka as of June 19, 2006, according to a central bank audit report.

The accumulated loss of the bank was 4.50 billion taka as of March 2006, and its total of defaulted loans was 4.37 billion taka, central bank officials said.

http://asia.news.yahoo.com/070125/3/2wd2g.html
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Old January 29th, 2007, 08:10 AM   #13
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The Bangladesh Bank plans to sell the Oritental Bank, you might see a large number of foreign buyers coming in to clinch the deal since the central bank wont be giving out bank licenses in the near future
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Old January 29th, 2007, 11:17 AM   #14
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Thats really cool!! Oriental Bank sold to a foreign company! Should have happenned earlier.
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Old January 30th, 2007, 04:00 AM   #15
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Quote:
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Thats really cool!! Oriental Bank sold to a foreign company! Should have happenned earlier.
how is it cool? we meed to be less depended on foreign banks
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Old January 30th, 2007, 04:28 AM   #16
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I mean in terms of quality of course. It will certainly have some effect on standard of living.
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Old January 30th, 2007, 07:53 AM   #17
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I mean in terms of quality of course. It will certainly have some effect on standard of living.
i dont see foreign A list banks targeting the oriental bank!
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Old January 30th, 2007, 02:10 PM   #18
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Has anyone heard of any new foreign banks setting up in the country in the near future though?
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Old January 31st, 2007, 04:37 AM   #19
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Has anyone heard of any new foreign banks setting up in the country in the near future though?
they cant the BB wont be giving out any more licenses, they are already 52 pvt banks
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Old February 5th, 2007, 05:14 AM   #20
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Bangladesh's Three State-Owned Banks Turn Into Public Ltd. Companies

The country's three state-owned banks will turn into public limited companies after the Council of Advisors of the caretaker government on Saturday approved the required rules with a view to reforming and modernizing of the banks.

A meeting of the council of advisors approved in principle the draft of the Memorandum and Articles of Association. That draft outlines the requirements to transform the Sonali Bank, the Janata Bank and the Agrani Bank into public limited companies, officials say.

Chief Adviser of the Caretaker Government Dr Fakhruddin Ahmed chaired the meeting that took place in the conference room of the chief adviser's office in the capital, Dhaka.

The decision to corporatize the three nationalized commercial banks was taken based on efforts by and the works of the government to increase efficiency, transparency and accountability of the banks. And to create a level playing field with other private commercial banks.

Earlier, the World Bank, the International Monetary Fund, and other development partners, had suggested that the government corporatize the nationalized commercial banks with the goal of improving the quality of their services.

Currently, 48 banks along with the three nationalized commercial banks are running their business across the country.

http://www.allheadlinenews.com/articles/7006350119
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