Weak taka cheers up remitters Remittance income rose 27.64 percent year-on-year to $1.21 billion in November, as the depreciation of the taka against the American dollar made sending money to Bangladesh more lucrative, according to data from the central bank. November’s inflows was also 4.47 percent higher than that of

Can Bangladesh Bank tackle another cyber attack? In the biggest cyber attack on the banking sector of the country, $101 million was stolen from Bangladesh Bank’s account with the New York Federal Reserve on February 4, 2016. Although the transfer of $20 million from the total was successfully blocked, $81

Q1 NPLs with industries swell to BDT 240.0 billion Classified loans in the industrial sector swelled by over 18 per cent or BDT 36.94 billion in the first quarter (Q1) of the current fiscal year (FY), proving the recovery drives by banks and financial institutions ineffective, to a great extent,

Private banks book hefty net profits Private commercial banks saw 17.2 percent growth in net profit last year — a development that will bring cheer for stockmarket investors. In 2016, private banks, most of which are listed on the stockmarket, counted Tk 7,806 crore in net profit — eclipsing the

Telecom Sector’s Revenue to cross $5b by 2023 The telecommunication industry’s revenue will grow by 34 percent in the next five years to $5.08 billion from $3.8 billion at present, on the back of expanding user base and wide range of services. The industry employs about 7.60 lakh people directly,