Default Loans in State Banks Surge by 42%

Linde Bangladesh reported a dramatic profit increase of 264 times in the third quarter of 2024, primarily due to the sale of its welding business, earning Tk 7.72 billion despite an operational loss of Tk 267 million. Although revenue rose 3% to Tk 1.68 billion, this did not translate into operational profits, with costs surging 228% to Tk 430 million due to retirement benefits paid post-sale.

Aarong, the market leader in liquid milk, has increased its prices by Tk 10 per liter, setting the new retail price at Tk 100 for one liter and Tk 50 for half a liter. This marks the first price adjustment since August 2022, driven by rising production costs, including a Tk 5 increase in payments to farmers for raw milk.

Trust Bank's net profit for Q3 2023 reached Tk 123.04 crore, a 3% year-on-year increase, driven by higher investment income and increased deposits. Earnings per share (EPS) rose slightly to Tk 1.33. The bank's consolidated net cash flow per share grew to Tk 24.6, thanks to more deposits than loans disbursed.

Grameenphone and Robi Axiata have begun paying for additional 20 MHz spectrum from the 2.6 GHz band, costing Tk1,160 crore each, payable in eight instalments over eight years. The first instalment of Tk145 crore was made on August 31.

Md Anwarul Islam has officially assumed the role of Chief Executive Officer (CEO) of Agrani Bank PLC for a three-year term, as appointed by the Ministry of Finance. He joined Agrani Bank in 1988 and has held various leadership positions, including General Manager for multiple regions.