Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the learnpress domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/u744833385/domains/bizdatainsights.com/public_html/wp-includes/functions.php on line 6114

Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the learnpress domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/u744833385/domains/bizdatainsights.com/public_html/wp-includes/functions.php on line 6114

Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the dc-bkash domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/u744833385/domains/bizdatainsights.com/public_html/wp-includes/functions.php on line 6114

Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the rank-math domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/u744833385/domains/bizdatainsights.com/public_html/wp-includes/functions.php on line 6114

Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the updraftplus domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/u744833385/domains/bizdatainsights.com/public_html/wp-includes/functions.php on line 6114

Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the rocket domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/u744833385/domains/bizdatainsights.com/public_html/wp-includes/functions.php on line 6114

Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the pods domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/u744833385/domains/bizdatainsights.com/public_html/wp-includes/functions.php on line 6114
5 Brokerage Firms Face Tk123 Crore Deficit - BIZDATA INSIGHTS

5 Brokerage Firms Face Tk123 Crore Deficit

Industry: Stock Brokerage, Stock Market
Company: Dhanmondi Securities Limited, Fareast Stocks & Bonds Limited, Moshihor Securities Ltd, PFI Securities Limited, Sinha Securities Limited
Company Intelligence Tag: Business Insights

Despite regulatory efforts, misuse of funds by brokerage firms continues, undermining investor trust in the capital market. As of August 2024, five firms have accumulated a total deficit of Tk123 crore in their Consolidated Customer Accounts (CCAs). Deficits include Tk8.49 crore at one firm, Tk10.08 crore at another, Tk7.74 crore at a third, Tk68.58 crore at a fourth, and Tk28.18 crore at a fifth. A CCA is meant to hold unused client cash solely for securities purchases or related fees. The Bangladesh Securities and Exchange Commission (BSEC) has barred deficit-accumulating firms from certain facilities. Recent scrutiny revealed Tk68.58 crore misappropriated at one firm, with a probe committee formed to investigate misuse of Tk161 crore. Another firm was suspended in May 2023 for a Tk8.49 crore deficit, while a third received a six-month extension in January 2024 to address a Tk25 crore deficit but failed to fully comply. Despite significant assets, including land and buildings, one firm still has a Tk28.18 crore deficit.

Source for more details:

Related News

Social Islami Bank Stands Strong with Clear Loan Records

November 21, 2024

Following the dissolution of its previous board on August 5, 2024, Social Islami Bank PLC, now led by an independent director and chairman, is undergoing significant reforms to address a liquidity crisis and restore stability. The Shariah-based lender has a total deposit of Tk 32,272.45 crore and investments of Tk 37,534.59 crore as of November 17, 2024

Moody’s Downgrades Deposit Ratings for Six Banks

November 21, 2024

Global rating agency Moody’s has downgraded the long-term local and foreign currency deposit ratings of BRAC Bank, Mercantile Bank, and Premier Bank due to Bangladesh's recent sovereign downgrade to B2 on November 18, 2023. This marks the first downgrade in 14 years, reflecting heightened economic risks.

Monno Ceramic Sees 89% Profit Drop in Q1

November 21, 2024

Monno Ceramic Industries Ltd, a prominent tableware manufacturer in Bangladesh, reported a steep 89% drop in profits for the first quarter (July-September) of FY 2024-25. The company’s earnings fell to Tk 30.17 lakh during this period, significantly lower than Tk 2.66 crore recorded in the same quarter of the previous year.

Doreen Power’s Profit Falls by 17%

November 21, 2024

Doreen Power Generations and Systems faced a profit drop of over 17% in Q1 FY 2024-25 due to plant shutdowns and rising operational costs. The company's profit for July-September stood at Tk 26.95 crore, down from Tk 32.52 crore a year earlier. Earnings per share (EPS) fell to Tk 1.48 from Tk 1.80, according to unaudited financial statements released on November 20, 2024.

117 Beximco-Linked BO Accounts Under Scrutiny

November 21, 2024

The Bangladesh Securities and Exchange Commission (BSEC) has frozen 117 beneficiary owner (BO) accounts allegedly linked to Beximco Ltd’s owners following a request from the Bangladesh Financial Intelligence Unit (BFIU). On November 14, the BSEC instructed the Chittagong Stock Exchange to gather KYC forms and portfolio statements of these accounts within three days.

Janata Bank Faces 61% Loan Defaults Mainly from Beximco and S Alam

November 21, 2024

Janata Bank is currently in a critical financial situation, with non-performing loans (NPLs) surpassing 61% of its total portfolio. This crisis is primarily a result of excessive lending to major conglomerates, such as Beximco and S Alam groups, which has led to massive loan defaults.

Related News

Social Islami Bank Stands Strong with Clear Loan Records

November 21, 2024

Following the dissolution of its previous board on August 5, 2024, Social Islami Bank PLC, now led by an independent director and chairman, is undergoing significant reforms to address a liquidity crisis and restore stability. The Shariah-based lender has a total deposit of Tk 32,272.45 crore and investments of Tk 37,534.59 crore as of November 17, 2024

Moody’s Downgrades Deposit Ratings for Six Banks

November 21, 2024

Global rating agency Moody’s has downgraded the long-term local and foreign currency deposit ratings of BRAC Bank, Mercantile Bank, and Premier Bank due to Bangladesh's recent sovereign downgrade to B2 on November 18, 2023. This marks the first downgrade in 14 years, reflecting heightened economic risks.

Monno Ceramic Sees 89% Profit Drop in Q1

November 21, 2024

Monno Ceramic Industries Ltd, a prominent tableware manufacturer in Bangladesh, reported a steep 89% drop in profits for the first quarter (July-September) of FY 2024-25. The company’s earnings fell to Tk 30.17 lakh during this period, significantly lower than Tk 2.66 crore recorded in the same quarter of the previous year.

Doreen Power’s Profit Falls by 17%

November 21, 2024

Doreen Power Generations and Systems faced a profit drop of over 17% in Q1 FY 2024-25 due to plant shutdowns and rising operational costs. The company's profit for July-September stood at Tk 26.95 crore, down from Tk 32.52 crore a year earlier. Earnings per share (EPS) fell to Tk 1.48 from Tk 1.80, according to unaudited financial statements released on November 20, 2024.

117 Beximco-Linked BO Accounts Under Scrutiny

November 21, 2024

The Bangladesh Securities and Exchange Commission (BSEC) has frozen 117 beneficiary owner (BO) accounts allegedly linked to Beximco Ltd’s owners following a request from the Bangladesh Financial Intelligence Unit (BFIU). On November 14, the BSEC instructed the Chittagong Stock Exchange to gather KYC forms and portfolio statements of these accounts within three days.

Janata Bank Faces 61% Loan Defaults Mainly from Beximco and S Alam

November 21, 2024

Janata Bank is currently in a critical financial situation, with non-performing loans (NPLs) surpassing 61% of its total portfolio. This crisis is primarily a result of excessive lending to major conglomerates, such as Beximco and S Alam groups, which has led to massive loan defaults.

BUSINESSMONITOR

Connect with


Dont Have Account? Please register Here