BB Restructures Boards of Al-Arafah Islami and Commerce Bank

Southeast Bank PLC recently signed a memorandum of understanding (MoU) with Tiny Tots and Summerfield International School to offer comprehensive banking solutions, including tuition fee collection, payroll services, and school banking. The agreement, signed on November 22 at the bank's Gulshan head office, will enable the English medium school to utilize the bank’s extensive channels for efficient fee collection.

Bangladesh Bank (BB) has introduced guidelines to enhance transparency and accountability for Joint Ventures, Consortiums, or Associations (JV/CA) involving foreign partners operating in Bangladesh.

Appollo Ispat Complex, which once thrived with its "Rani Marka Dheutin" brand, disclosed accumulated losses of Tk 7.6 billion for FY19 to FY23 in a filing on November 21, 2024. The company has failed to hold any general meetings over the past five years, and its factory has been shut for more than three years.

Emerald Oil Industries has faced over six months of halted production due to a gas supply shortage, as revealed in a response to a Dhaka Stock Exchange query on November 21, 2024. The company, which began producing Spondon-branded rice-bran oil in 2011, had previously announced plans for a capacity expansion with a new husk boiler over a year ago.

Bangladesh Services Limited, owner of InterContinental Dhaka, has faced nine consecutive years of losses, with Tk78 crore lost in FY24 and accumulated losses reaching Tk700 crore. The company, listed since 1984, has not paid dividends since FY14.

BRAC Bank has reached a significant milestone by achieving a net deposit growth of Tk 10,000 crore within the first ten months of 2024, covering the period from January to October. Despite the challenging economic landscape, the bank's strong market presence and customer trust have driven this impressive achievement.