National Pension Authority Partners with Seven Banks

Prime Bank has teamed up with MetLife Bangladesh to provide comprehensive life and medical insurance for its employees and their dependents. This partnership will protect over 9,600 individuals against medical expenses, accidents, disabilities, and loss of life. The agreement was signed in a ceremony attended by senior officials from both organizations, including Hassan O. Rashid, Managing Director and CEO of Prime Bank, and Ala Ahmad, CEO of MetLife Bangladesh.

Bangladesh Bank has instructed NBFIs to allow a three-month deferral on loan installments for CMSMEs and the agricultural sector in flood-affected areas. Borrowers can postpone payments due between August and October 2024, with their loan tenure extended by three months and no extra fees or penalties imposed. Verification of borrowers' flood-related hardships is required, but they can opt to continue with their original repayment schedule if desired.

IDLC Finance PLC posted a 25.30% profit growth, with net profit reaching Tk 125.4 crore and EPS rising to Tk 3.02 in the first three quarters of 2024. Customer deposits grew 2.30% to Tk 82.32 billion, and the loan portfolio hit Tk 111.7 billion. Operating income rose 11.32%, while expenses increased by only 2.18%. Despite challenges, IDLC achieved a return on equity of 8.65% and maintained a non-performing loan ratio of 4.98%.

Mohammad Zahid Hossain has been appointed as the chairman of Bangladesh Krishi Bank. Previously, he served as a principal economist for the South Asia Department at the Asian Development Bank (ADB), where he managed Bangladesh Country Programming and economic analysis.

Bank Asia PLC is offering home finance through its Islamic Banking services at a record-low 10.50% profit rate, with no compounding profit or pre-maturity fees. Salaried applicants need employment documents, while business owners must provide trade and financial records. Additional documents, like agreements with developers or construction approvals, are required based on the purpose.