One Bank to Raise Tk500 Crore through Subordinated Bond

BAIRA Life Insurance Company Limited has appointed Md. Jaynal Abedin Bhuiyan as its Chief Executive Officer (CEO), effective April 19, 2024. With over 22 years of experience in the life insurance industry, Abedin brings expertise in Sales & Distribution Management, Training & Development, and Strategic Business Planning.

Rajshahi Krishi Unnayan Bank (RAKUB) has integrated with ekPay, a comprehensive bill payment system, facilitating easy bill payments via its web portal or mobile app. Alongside, RAKUB has enhanced its mobile app to allow Grameenphone customers to access it without incurring data charges, marking a step towards Smart Banking.

Md. Momin Ullah Patwary, BP, has been appointed as an Independent Director at Meghna Bank PLC, effective April 8, 2024, following approval from Bangladesh Bank. Currently serving as a Consultant at National Credit Ratings Limited (NCR), Patwary previously held the position of Managing Director at NCR, contributing eight years of visionary leadership.

Petrobangla, the state-owned oil, gas, and minerals corporation, is embarking on an ambitious plan to drill a total of 48 wells across different gas fields to add 618 MMCFD to the national grid by 2025. This endeavour is crucial given the current gas shortage being experienced by various sectors, including power and industries.

Meghna Ceramic Industries, part of the Meghna Group of Industries (MGI), has embarked on a significant expansion initiative, investing $45 million to boost its production capacity. This move aims to capture a larger share of Bangladesh's expanding tiles market, valued at over $500 million. Since July last year, the company's Narayanganj-based facility has ramped up its daily tile production from 31,000 to an impressive 51,000 square meters. The expansion was funded by a combination of internal resources totaling $19 million and a syndicated loan of $26 million.

Pubali Bank PLC achieved a record profit of Tk 6.95 billion in 2023, marking its highest since being listed on the stock market. This surge was driven by increased interest income and earnings from government securities, leading to a 23% rise in consolidated profit compared to the previous year.