Prime Bank writes off Bismillah Group loans Prime Bank has written off BDT 3.0 billoin embezzled by Bismillah Group in order to clean up its balance sheet. “We are not worried about Bismillah Group as the loan of the client was cleaned up from the balance sheet. In the meantime,

Govt’s gross borrowing from banking system soars The government’s gross borrowing from the banking system jumped suddenly Sunday to finance budget deficit partly for the current fiscal year (FY), officials said. Bangladesh government borrowed Tk 13 billion on the day against previously fixed target worth Tk 2.0 billion through holding

Five insurers face action Five life-insurance firms are set to face action for their higher management expenses beyond the approved limits and other financial irregularities, sector-insiders said. The Insurance Develo-pment and Regulatory Authority (IDRA) already issued separate show-cause notices upon the five private-sector insurance companies this week, adjoining audit reports

8 banks face huge provision shortfall As of September, provision shortfall of the eight banks stood at Tk4,381 crore, declining from Tk 4,445 crore in June, according to the Bangladesh Bank data. Though the number of banks having provision shortfall has increased in July-September quarter, the total amount of shortfall

Private sector credit flow rises in December after three months Private sector credit growth increased slightly in December 2016, after experiencing a falling trend in the previous three consecutive months, due to higher trade financing for settling import payment obligations, bankers said. The growth in credit flow to private sector