boAt Expands in BD with DX Group Partnership

Walton Hi-Tech Industries PLC declared a 350% cash dividend for general shareholders and a 200% cash dividend for sponsors and directors for the financial year 2023-24. General shareholders will receive Tk 35 per share, while sponsors and directors will get Tk 20 per share.

Mutual Trust Bank PLC (MTB) has entered into an agreement with Starpath Holdings Ltd to provide Payroll Banking Services to the latter's employees. The agreement was formalized in a ceremony held at MTB's Head Office in Dhaka on September 3, 2024. This partnership aims to streamline payroll management and offer efficient banking services to Starpath Holdings employees.

IDLC Finance PLC has introduced a new payment option for its customers through a partnership with bKash. This service allows users to pay loan instalments, fees, and charges conveniently via the bKash app. Customers can settle payments for various services including loan instalments, document charges, statement fees, excise duty, late payment interest, and loan processing fees from home.

Walton Hi-Tech Industries reported a significant 73% increase in profit for FY24, reaching Tk 13.57 billion despite high inflation and macroeconomic challenges. The company's earnings per share rose to Tk 44.78 from Tk 25.84 the previous year. This growth, attributed to higher sales and reduced finance costs due to lower currency devaluation impacts, led Walton to declare a record 350% cash dividend for general shareholders and 200% for sponsor-directors.

Investit Asset Management Limited has launched its first open-end mutual fund, "Investit Growth Fund," with an initial size of Tk25 crore. The fund, sponsored by Investit, is backed by a trust deed signed with Sandhani Life Insurance on September 2, 2024. BRAC Bank will act as the custodian. The fund aims to offer superior risk-adjusted returns by focusing on growth stocks, with Tk2.5 crore contributed by the sponsor and the rest from individual and institutional investors.

Shahjalal Islami Bank PLC has signed a remittance agreement with USA-based Placid Express to facilitate cross-border payments. The agreement was signed at the bank's Corporate Head Office, enabling Bangladeshi expatriates to send money safely and quickly to Bangladesh through Shahjalal Islami Bank. Placid Express is a leading provider of remittance services, serving millions of customers globally.