NBFIs Face Profit Decline as Interest Rate Gap Narrows

MetLife Bangladesh signed an MoU with the University of Dhaka's banking and insurance department. The MoU offers students internship, employment, and career development opportunities at MetLife. This collaboration aims to enhance talent development in the insurance sector of Bangladesh.

NCC Bank has signed an agreement with Bangladesh Rice Research Institute (BRRI) to provide Tk 90 lakh in financial assistance for a research project on developing a "Prilled Urea Applicator". The goal of the project is to increase fertiliser efficiency and reduce urea fertiliser use in paddy lands by 30 percent.

Mercantile Bank PLC, listed on the stock market, has declared a 10% cash dividend for investors for the fiscal year ending December 31, 2023. The bank's earnings per share (EPS) decreased by 12.26% to Tk 1.86, compared to Tk 2.12 in the previous fiscal year. As of December 31, 2023, the bank's net asset value per share (NAVPS) stood at Tk 23.91, up from Tk 23.71 in the previous year. Additionally, the bank's

MJL Bangladesh Plc, Corporate Director of Prime Bank Plc, has disclosed plans to purchase 2,02,00,000 shares of Prime Bank from the block market of Dhaka Stock Exchange (DSE) within 30 working days at prevailing market prices, as per DSE sources. Prime Bank, with an authorized capital of Tk 2,500 crore and a paid-up capital of Tk 1,132,280,000, boasts a reserve of Tk 1,963,590,000. The bank's total shares amount

Professor Md Jonaid Shafiq, a distinguished physician, has been appointed as a director of Meghna Bank, as per a recent press release. Renowned for his expertise in pain medicine, Shafiq founded the pain medicine unit at Bangabandhu Sheikh Mujib Medical University. Additionally, he serves as the managing director of Japan Bangladesh Friendship Hospital and Navana Pharmaceuticals Ltd.

IPDC Finance has announced Rizwan Dawood Shams as its new Managing Director (MD), replacing Mominul Islam who resigned in November last year after serving for over a decade. Shams, who had been acting MD since January, joined the institution in 2007 and was promoted to additional MD in April 2021.