Economy

Depositors won't lose out, staffers stay after merger

Depositors won't lose out, staffers stay after merger

Depositors won't lose out and staff members will retain their jobs as the crisis-stricken Padma Bank merges with Exim Bank through a deal signed Monday, the host assures. But the directors of the defunct bank all get their marching orders from the board, said the Exim Bank chairman after the deal

BMI forecasts steady growth in BD this fiscal

BMI forecasts steady growth in BD this fiscal

Fitch Solutions Company BMI predicts that the economic growth in Bangladesh is likely to remain steady in the current fiscal. "We hold our short-term forecast for economic growth in Bangladesh steady, as we expect the country's real GDP to grow by 5.4 per cent y-o-y in FY2023/24," it says. The BM

NBFIs see 37pc rise in unsettled loan defaults

NBFIs see 37pc rise in unsettled loan defaults

Non-bank financial institutions (NBFIs) are grappling with a surge in defaulted loans awaiting court settlements. Central bank data shows a rise of more than 37 per cent in just three months, prompting concerns from economists about lax lending and recovery practices. In December 2022, a staggerin

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