Private lenders outperform others Local private banks saw their credit growth accelerate in comparison to state and foreign banks due to the race for making more profit than others. The credit growth of private banks, whose share in the total credit comes to 72.48 percent, accelerated 18.13 percent year-on-year on

Bank rate cut to 10.2% in August Country’s scheduled banks cut their rates of interest on lending further in August, for the 20th month in a row, against the backdrop of the businesses’ persistent reluctance to borrow from banks due to a sluggish business situation, said Bangladesh Bank officials. BB

New budget to cross Tk 5 lakh crore Fiscal 2019-20’s budget is set to cross the landmark of Tk 5 lakh crore as the Awami League-led government, fresh from being elected to a third term, looks to scale up implementation of the mega projects announced in previous terms. According to

Social Islami Bank faces ‘hostile’ takeover After the top-level management of Islami Bank Bangladesh Ltd (IBBL) was removed, forcibly according to critics, on January 5 this year, Social Islami Bank Ltd (SIBL) on Monday faced a similar series of drastic changes to its upper echelon. SIBL Chairman Major (Retd) Dr

ICAB suggests 2.0pc cut in corporate tax The Institute of Chartered Accountants of Bangladesh (ICAB) Sunday suggested 2.0 per cent cut in the corporate tax in the budget for the next financial year (FY). Investors would be encouraged to invest more funds following such cut and help generate additional employment