Finance News: Latest Financial News, Finance News today in Bangladesh

IPDC Finance's profit rose 5.9pc on higher investment, interest income

IPDC Finance has reported a 5.9 per cent year-on-year growth in profit to Tk 363 million for 2024, driven by robust investment income and higher interest earnings following the introduction of market-based interest rate.The non-bank financial institution's earnings per share (EPS) stood at Tk 0.93 for the year, up from...

IDLC Finance's income up 32pc, driven by high interest rate, lower provision

IDLC Finance experienced a 32 per cent year-on-year rise in consolidated net profit to Tk 2 billion in 2024, driven mostly by a rise in interest rate.A significant decline in provisioning also facilitated the company's profit growth.The company's board of directors on Thursday approved the financial statements for the year...

Banking, brokerage services under one digital umbrella

Prime Bank and its brokerage arm, Prime Bank Securities Limited, have launched the country's first-ever bank-broker integrated platform through MyPrime app.This innovative integration allows customers to seamlessly manage both their banking and investment needs from a single digital platform, according to a press release. With just a few taps, users...

Prime Finance's loss quadruples

Prime Finance & Investment has shown losses more than four times' higher in 2022 to Tk 824 million, compared to the year before.The NBFI has been consistently failing to publish its financial results timely due to a combination of financial distress, regulatory challenges, and internal issues.The losses are primarily attributed...

IFIC BANK PARTNERS WITH FARAZY HOSPITAL

IFIC Bank signed a memorandum of understanding (MoU) with Farazy Hospital Limited to provide special healthcare benefits to customers and employees. The signing ceremony was held on Wednesday at IFIC Tower in Purana Paltan, Dhaka. Under this agreement, IFIC Bank's customers, including card holders, their family members, and employees and...

World Bank's Banga urges developing nations to lower tariffs, focus on regional trade

WASHINGTON, April 16 (Reuters): World Bank President Ajay Banga urged developing countries on Wednesday to liberalize trade, saying many maintained higher tariffs than advanced economies and lowering them could offset the risk of reciprocal import taxes.Banga told reporters that global uncertainty - triggered in recent months by US tariffs and...

A tariff headache for major central banks

LONDON, April 17 (Reuters): US President Donald Trump's tariffs have darkened the global economic backdrop, forcing big central banks to reassess their next steps.Policymakers outside the United States now look more likely to cut interest rates than they would have done otherwise - or in Japan's case raise them less.SWITZERLANDThe...

4th Bangladesh Remittance Fair in NY begins Saturday

The two-day long 4th Bangladesh Remittance Fair 2025 will begin in New York (NY) from Saturday with an aim to boost remittance flow from the USA to Bangladesh, reports BSS.Bangladesh-USA Chamber of Commerce and Industry (BUCCI) and USA-Bangladesh Business Links are jointly organizing the fair at Jackson Heights in New...

Nazrul Islam new DMD of Janata Bank

Md Nazrul Islam has recently joined Janata Bank PLC as a Deputy Managing Director (DMD). Prior to this new role, he was a general manager at Sonali Bank PLC, says a statement.Mr Islam started off his career at the Sonali Bank as a senior officer (financial analyst) in 1995. During...

KBAA knowledge-sharing seminar held at BARD

A knowledge-sharing seminar organised by KOICA (Korea International Cooperation Agency) was held at the Bangladesh Academy for Rural Development (BARD) in Cumilla on Thursday. The event brought together distinguished guests, scholars, faculty members of BARD, health cadre officials and alumni to share insights on the transformative impact of KOICA programmes...

Shahjalal Islami Bank holds 895th Executive Committee meeting

The 895th meeting of the Executive Committee (EC) of Shahjalal Islami Bank PLC (SJIB PLC) was held at the Corporate Head Office of the bank on Wednesday. The meeting was presided over by Akkas Uddin Mollah, the Chairman of the Executive Committee. The members of the committee discussed various issues...

Union Bank holds Risk Management Committee meeting

The 8th meeting of the newly formed Risk Management Committee of Union Bank PLC was held at the bank's Head Office in Dhaka on Thursday. Chairman of the Risk Management Committee Md. Humayun Kabir presided over the meeting. Member of the Risk Management Committee & Independent Director Dr. Md. Shahidul...

First Security Islami Bank holds 293rd board meeting

The 293rd meeting of the Board of Directors of First Security Islami Bank PLC was held on Thursday at FSIB Head Office in Dhaka, with Mohammad Abdul Mannan, Chairman of the Board, in the chair. Md Azizur Rahman, Vice Chairman, Md. Abdul Quddus, Chairman of Executive Committee, Prof Md. Saiful...

S Arabia's date exports rise 15.9pc

RIYADH, Apr 17 (Arab News): Saudi Arabia's date exports saw a 15.9 per cent year-on-year increase in 2024, reaching SR1.695 billion ($451.7 million), according to newly released data from the National Centre for Palms and Dates.In the same year, the Kingdom produced more than 1.9 million tonnes of dates, underscoring...

Turkish central bank raises interest rate to 46pc

ISTANBUL, Apr 17 (AFP): Turkey's central bank hiked its key interest rate to 46 per cent on Thursday after a month of protests over the arrest of Istanbul's opposition mayor put pressure on the economy.The monetary policy committee "has decided to raise the policy rate from 42.5 per cent to...