Bizdata Insights Main Logo

Bangladesh Finance’s net profit increased by 75%

Industry: Financial, NBFI
Company: Bangladesh Finance Limited
Company Intelligence Tag: Business Insights

Bangladesh Finance Ltd, a non-bank financial institution, has recorded a significant slump of 75% in net profit for the first quarter of 2023 compared to the same period last year. The company’s profit after tax dropped to Tk 1.88 crore, resulting in an earnings per share (EPS) decrease from Tk 0.40 to Tk 0.10. The decline in interest income and investment income contributed to the earnings fall. Despite this, the company reported a lesser annual profit decline of 8.2% in 2022. The new managing director and CEO aim to provide comprehensive services and establish the company as a top merchant bank in the next five years.

Source for more details:

Related News

Banks Offer Over 7% Interest on Foreign Deposits

December 5, 2023

To address the ongoing dollar crisis, Bangladesh Bank has mandated that banks offer over 7% interest on resident foreign currency deposits (RFCD). The central bank's notification allows individuals to deposit up to $10,000 in RFCD, with banks providing a minimum of 1.5% interest in addition to the benchmark rate.

Islamic Banks Face Dwindling Trade with 39% Export Drop

December 5, 2023

Trade through Bangladesh's 10 Shariah-compliant banks is dwindling, with loans surpassing deposits, creating liquidity challenges. Exports facilitated by these banks dropped by almost 39% in Q2, contrasting the nation's overall export growth of 7%.

Southeast Bank Inks Trade Agreement with Commercial Bank

December 5, 2023

Southeast Bank PLC recently signed a Master Trade Loan agreement with Commercial Bank of Dubai PSC at its Head Office. The collaboration involves the Commercial Bank of Dubai providing trade loans to Southeast Bank for its Offshore Banking Operation

Standard Chartered Collaborates with TMSS

December 5, 2023

Standard Chartered Bangladesh has joined forces with Thengamara Mohila Sabuj Sangha (TMSS) to enhance the well-being, resilience, and productivity of rural farming communities in Bangladesh. With an investment of approximately BDT 26 million, the bank is launching two agricultural initiatives benefiting 25,500 farmers.

Meghna Bank Inks MoU with Ship Hospital

December 4, 2023

Meghna Bank PLC recently entered an MoU with Ship International Hospital at its Dhaka Head Office. The multi-specialized private hospital, operating under Japanese management, will offer exclusive year-round discounts on registrations to all Meghna Bank cardholders and employees.

Modhumoti Bank Donates Tk 120 Million to Red Crescent

December 4, 2023

Modhumoti Bank Limited presented a Tk. 120 million cheque to the Bangladesh Red Crescent Society, Dhaka city unit during its 51st Annual General Meeting. The contribution, part of the bank's CSR program, was handed over at the Holy Family Red Crescent Medical College Auditorium, Dhaka.

Related News

Banks Offer Over 7% Interest on Foreign Deposits

December 5, 2023

To address the ongoing dollar crisis, Bangladesh Bank has mandated that banks offer over 7% interest on resident foreign currency deposits (RFCD). The central bank's notification allows individuals to deposit up to $10,000 in RFCD, with banks providing a minimum of 1.5% interest in addition to the benchmark rate.

Islamic Banks Face Dwindling Trade with 39% Export Drop

December 5, 2023

Trade through Bangladesh's 10 Shariah-compliant banks is dwindling, with loans surpassing deposits, creating liquidity challenges. Exports facilitated by these banks dropped by almost 39% in Q2, contrasting the nation's overall export growth of 7%.

Southeast Bank Inks Trade Agreement with Commercial Bank

December 5, 2023

Southeast Bank PLC recently signed a Master Trade Loan agreement with Commercial Bank of Dubai PSC at its Head Office. The collaboration involves the Commercial Bank of Dubai providing trade loans to Southeast Bank for its Offshore Banking Operation

Standard Chartered Collaborates with TMSS

December 5, 2023

Standard Chartered Bangladesh has joined forces with Thengamara Mohila Sabuj Sangha (TMSS) to enhance the well-being, resilience, and productivity of rural farming communities in Bangladesh. With an investment of approximately BDT 26 million, the bank is launching two agricultural initiatives benefiting 25,500 farmers.

Meghna Bank Inks MoU with Ship Hospital

December 4, 2023

Meghna Bank PLC recently entered an MoU with Ship International Hospital at its Dhaka Head Office. The multi-specialized private hospital, operating under Japanese management, will offer exclusive year-round discounts on registrations to all Meghna Bank cardholders and employees.

Modhumoti Bank Donates Tk 120 Million to Red Crescent

December 4, 2023

Modhumoti Bank Limited presented a Tk. 120 million cheque to the Bangladesh Red Crescent Society, Dhaka city unit during its 51st Annual General Meeting. The contribution, part of the bank's CSR program, was handed over at the Holy Family Red Crescent Medical College Auditorium, Dhaka.

Shopping cart

0
image/svg+xml

No products in the cart.

Continue Shopping

BUSINESSMONITOR

Connect with


Dont Have Account? Please register Here