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Category Archives: Banking News

Prof Muzaffer , Swadesh Bose get BB Award-2013

Banking Desk Bangladesh Bank has decided to confer the ‘Bangladesh Bank Award-2013′ on both Professor  Dr. Muzaffer Ahmad and Dr. Swadesh Ranjan Bose (posthumous)   for their distinctive and remarkable contributions in the fields of development economics A jury board comprised of five prominent economists of the country led by the governor of Bangladesh Bank has jointly nominated these two prominent ... Read More »

Bank, insurance perform well despite DSE closes flat Banking and insurance issues performed well despite the share trading at Dhaka Stock Exchange (DSE) finished mixed on Tuesday. The benchmark index of the prime bourse closed almost flat with the specialized indices slipping marginally down. DSEX, the broad- based index of DSE, finished the day flat at 4472.17 when the blue-chip DS30 and Shariah DSES ended slightly down ... Read More »

European Central Bank website hacked

BBC Online The website of the European Central Bank (ECB) has been hacked, with personal information stolen. The hacker demanded money for stolen data, which included contact information for people who had registered for events at the ECB, the central bank said. The ECB said that no market sensitive data or internal banking systems were compromised. An investigation has been ... Read More »

HSBC half-yearly profits fall by 12 pc

BBC Online HSBC’s pre-tax profits fell by 12% in the first half of 2014 compared with the same period a year before. Profits were $12.34bn (£7.33bn), from $14.071bn twelve months earlier. During the half-year, the bank also put aside some $234m for its “customer redress programmes”, to cover the cost of things such as mis-selling Payment Protection Insurance (PPI). Europe’s ... Read More »

Loan interest rates higher: Local banks facing business challenge

Borrowing from foreign sources by private firms, corporate houses and big companies have increased manifold in the recent times, posing a threat to the business of local commercial banks, sources said on Thursday Insiders said, local companies are now heavily relying on foreign banks, financial institutions and development agencies for funds mainly due to lower interest rates charged by them. ... Read More »

Swiss central bank reports $17.7B half-year profit

Banking Desk GENEVA : Switzerland’s central bank posted a profit Thursday of 16.1 billion Swiss francs ($17.7 billion) for the first half of the year, a big turnaround from its loss of 9 billion francs for 2013. The Swiss National Bank’s profit is largely based on gains in the gold, foreign exchange and capital markets, but the bank was careful ... Read More »

Banks accused of rigging silver price

BBC Online Deutsche Bank, HSBC and Bank of Nova Scotia have been accused of attempting to rig the price of silver, in a lawsuit filed in the US. The plaintiff alleges the banks, which set the price of silver each day, abused their position in the market. Deutsche Bank and HSBC have not commented on the filing, while Bank of ... Read More »

BB asks banks to cut lending rates

Bangladesh Bank has asked all the banks to reduce their lending rates to increase credit growth in the industrial sector as the money market awash with huge liquidity. The central bank came up with the suggestion at a bankers’ meeting held yesterday at its headquarters in the capital with Governor Atiur Rahman in the chair. Senior executives of Bangladesh Bank ... Read More »

Road crash kills 3 in Sylhet

Sylhet Correspondent Three people, including an auto-rickshaw driver, were killed in a road accident on the Sylhet-Dhaka Highway in South Surma upazila on Tuesday. Of the deceased, one was identified as Salam Ahmed, an auto-rickshaw driver, while the identity of two others could not be immediately known. Officer-in-charge of South Surma Police Station M Mursalin said the accident took place ... Read More »

Pubali aims for paperless, faster banking

Banking Desk Pubali Bank aims to expand its online banking and introduce new products to meet growing demand and become more competitive. The largest private bank is also set to launch its mobile banking service, Pubali Cash, in a couple of months to serve unbanked people. The bank that has already automated its 425 branches is also working on introducing ... Read More »