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City Bank became the third bank in Bangladesh to offer UnionPay debit cards in August 2020. [19] In July 2021, CDC Group provided a US$30 million loan to City Bank. [20] Since the new offshore banking law was passed in March 2024, City Bank has managed to build offshore deposits of nearly US$21 million within two months.
In April 2024, the central bank of Bangladesh issued banking merger policy for merger of weak banks with strong banks – both voluntary and mandatory. [2] Following merger process are ongoing: [ 3 ] Padma Bank Limited merged with EXIM Bank PLC
BASIC Bank Limited is one of seven state owned banks in Bangladesh. [9] In 2016 the finance minister in a statement described the state of the bank as weak due to graft by top officials of the bank and would require some time for improvement. [10] Sonali Bank UK Ltd and other international banks had censured Basic bank over irregularities. [11]
In February 2017, Eastern Bank PLC. announced compensations for clients whose card information was stolen from the bank's ATM after Bangladesh Bank ordered it compensate the clients. [10] City Bank and United Commercial Bank were also targeted in the hacks. [11] A security guard at an ATM of Eastern Bank PLC. in Dhaka Cantonment was killed on ...
The Premier Bank PLC. is a private commercial bank with its registered office in Banani, Dhaka, Bangladesh. [ 7 ] [ 8 ] H. B. M. Iqbal is the Chairman [ 9 ] Mohammad Abu Jafar has taken up the role of managing director and CEO of Premier Bank with effect from 24 April 2024.
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As of October 2024, Shimanto Bank PLC has 25 branches, [14] 7 sub-branches and 28 ATM booths. In August 2022, Rafiqul Islam was appointed the chief executive officer and managing director of the bank [15] Bangladesh Securities and Exchange Commission has asked Shimanto Bank to make preparations for an initial public offering. [16]
As of October 2024, the average dividend yield of S&P 500 companies was only 1.25%, reports Schwab. By contrast, a lot of high-yield savings accounts continue to offer rates at or around 4%.