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

United Power's quarterly profit falls as revenue drops, costs climb

After reporting its highest-ever annual profit in FY25, United Power Generation & Distribution Company's first-quarter profit plunged 30 per cent year-on-year to Tk 2.92 billion in the three months to September, due to lower revenue and higher production costs.The power generation company's consolidated earnings per share (EPS) came down to...

Coverage of defence purchases by Sena Insurance opposed by public, private peers

Stakeholders have strongly opposed a plea by Sena Kalyan Sangstha (SKS) to allow its concern, Sena Insurance, to underwrite insurance risks relating to defence purchases, terming the move a violation of the Insurance Corporation Act.They said the Act entitles only the state-run Sadharan Bima Corporation (SBC) to underwrite risks of...

Japanese companies urged to set up factories in Bangladesh

Bangladesh's Ambassador to Japan Md Daud Ali has said that investment in Bangladesh through technology transfer and establishing factories would bring mutual benefits for both Bangladesh and Japan, reports BSS.He made the remark when a four-member delegation from AEON Co. Ltd., one of Japan's largest business conglomerates, met the Ambassador...

Unitholders reject conversion, seek redemption upon maturity

Another closed-end mutual fund - Vanguard AML BD Finance Mutual Fund One - is going to be liquidated next month after a majority of its unitholders voted against its conversion into an open-ended fund upon maturity.The fund's trustee - Bangladesh General Insurance Company (BGIC) - at a recent meeting proposed...

Canada eyes greater trade ties with BD

Canadian Senior Assistant Deputy Minister for International Trade and Chief Trade Commissioner Sara Wilshaw paid a courtesy visit to Dhaka Chamber of Commerce & Industry (DCCI) at DCCI Gulshan Centre on Sunday.She had an interactive meeting with DCCI acting President Razeev H Chowdhury. High Commissioner of Canada to Bangladesh Ajit...

ICAB, CIPFA step up partnership to advance public finance

The Institute of Chartered Accountants of Bangladesh (ICAB) and the UK-based Chartered Institute of Public Finance and Accountancy (CIPFA) have renewed their commitment to advancing high-quality public sector financial management by re-signing a Memorandum of Understanding (MoU).The MoU was signed in London recently. The renewed partnership reinforces the shared vision...

Abu Shadat new managing director of IIDFC

Abu Shadat Mohammad Shahin has been appointed as the managing director of IIDFC PLC recently, says a press statement. Mr Shahin joined IIDFC as Deputy Managing Director in September 2024 and has served as Managing Director (Current Charge) since April 2025 before his formal appointment.He has 25 years of experience...

MASHRUR AREFIN NAMED 'CEO OF THE YEAR 2025'

Mashrur Arefin, managing director and CEO of City Bank, has been honoured as 'CEO of the Year-2025' in financial institutions category at the 4th Bangladesh C-Suite Awards. The award recognises his exceptional leadership and contribution over three decades to Bangladesh's financial sector.

AB BANK WINS MASTERCARD EXCELLENCE AWARD

AB Bank won the `Mastercard Excellence Award- 2025' in the category of Mastercard Credit Business (Domestic) for the year 2024-2025. Syed Mizanur Rahman, managing director & CEO of AB Bank, received this honour on behalf of the bank from Md. Zakir Hossain Chowdhury, deputy governor of the Bangladesh Bank. Dr....

MODHUMOTI BANK OPENS KANAIPUR SUB-BRANCH, RELOCATES FARIDPUR BRANCH

Modhumoti Bank inaugurated its new Kanaipur sub-branch and relocated Faridpur branch under the control of Faridpur branch on Sunday. The relocated branch is at Sharifunnesa Peace Tower on Thana Road in Jhiltuliarea under Kotwali Thana, and the new sub-branch is at Kanaipur Union Bohumukhi Somobay Somiti Market in Faridpur Sadar...

PUBALI BANK HOLDS 'ANNUAL RISK CONFERENCE 2025'

To ensure robust risk management and regulatory compliance, Pubali Bank organised the 'Annual Risk Conference 2025' recently at its head office auditorium. The conference was inaugurated by the chief guest, ANM Moinul Kabir, director of the Department of Offsite Supervision, Bangladesh Bank. Mohammad Ali, managing director & CEO of Pubali...

JIBON BIMA-UCB BANCASSURANCE BUSINESS INAUGURATED

To sell insurance products through its corporate agent, Jibon Bima Corporation signed a bancassurance agreement with the United Commercial Bank (UCB) PLC. The bancassurance business was inaugurated through handing over the First Premium Receipt (FPR) at a ceremony held at a city hotel recently. Managing Director of Jibon Bima Md...

SHAHJALAL ISLAMI BANK HOLDS 401ST BOARD MEETING

The 401st meeting of the Board of Directors of Shahjalal Islami Bank PLC was held at its Corporate Head Office in Dhaka recently. The meeting was presided over by Chairman of the bank A. K. Azad. The Board approved a number of investment proposals. Among others, Vice-Chairman of the Board...

Ibn Sina Phrama holds 41st AGM

The 41st annual general meeting (AGM) of The Ibn Sina Pharmaceutical Industry PLC was held through a digital (virtual) platform on Sunday. Company Chairman Kazi Harun or Rashid presided over the meeting joined by a large number of shareholders. Among others, Managing Director Prof. Dr A K M Sadrul Islam...

AI boom brings fresh risks to US markets, and more money to M&A

NEW YORK, Nov 23 (Reuters): The AI boom is bringing new risks to the financial markets as investors flock to tech stocks and executives pay steep premiums to buy AI technology they cannot build in-house, warned two top finance executives.AI has become the "number one topic of conversation" for both...