Metrocem Group Appoints Asadul Haque as CBO

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.

Md Jashim Uddin has been appointed as the Managing Director and CEO of Bangladesh Development Bank PLC, effective November 20, 2024. Before this role, he served as Deputy Managing Director at Janata Bank PLC, where he began his banking career in 1988 as a senior officer. Over the years, he held several key positions, including branch manager, zonal head, divisional office head, and general manager of various departments

Bangladesh's steelmakers have presented a five-point demand to the interim government to alleviate challenges plaguing the industry. At a press briefing on November 18, the Bangladesh Steel Manufacturers Association (BSMA) urged for expedited infrastructure projects to mitigate the economic crisis affecting businesses.

Union Bank terminated 262 trainee officers on November 17, with its board citing cost reduction as the reason. Allegations suggest these appointments, made in February, were directed by the founder of a S Alam Group without recruitment tests. Following the restructuring of its board by Bangladesh Bank on August 27, the institution aims to address mismanagement tied to prior leadership.

Al-Arafah Islami Bank PLC has promoted SM Abu Jafar to the position of deputy managing director, as announced in a press release on November 20. Jafar, who had been serving as senior executive vice-president since 2021, brings 24 years of extensive experience in the banking sector to his new role.

GPH Ispat, a major Bangladeshi steelmaker, achieved a profit of Tk 6.59 crore in the first quarter of the current financial year, recovering from a Tk 16.46 crore loss in the same period last year. The earnings per share (EPS) improved to Tk 0.14 from a loss per share of Tk 0.34, driven by an 82.57% reduction in exchange losses on foreign currency transactions.