JBCCI for Big-B summit in Ctg
Business Desk
JBCCI members recommended continuing work and lobbying for improving the business and trade environment in both countries as many barriers still remain to be solved
Members of the Japan-Bangladesh Chamber of Commerce and Industry (JBCCI) have proposed to hold a summit on the Bay of Bengal Initiative (Big-B) in Chittagong in the upcoming year to create business opportunities for the Japanese companies.
They made the proposal during the trade body’s annual general meeting at a city hotel on Sunday, chaired by its president Asif A Chowdhury and conducted by general secretary Tareq Rafi Bhuiyan, said a press release.
DBH posts 49pc profit growth
Business Desk
Delta Brac Housing Finance Corporation Ltd (DBH), the only AAA-rated financial institution for the last sixteen years, posted 49% net profit growth for the first nine months of 2021 compared to the same period of last year.
Since its inception in 1996, for the last 25 years, the company worked as a specialized housing finance institution and registered commendable growth in creating homeownership in the country, according to a press release.
DBH posted a net profit before tax of Tk132.39 crore and net profit after tax of Tk81.12 crore for the January-September, 2021 period, and registering 36% growth in profit before tax and 49% growth in profit after tax from the corresponding period of the previous year.
City Bank arranges funding for set up 162 MW PP
Business Desk
City Bank has recently arranged funding to help set up a heavy fuel oil (HFO) fired power plant of Doreen Group named Manikganj Power Generations Limited (MPGL), which has a capacity of 162 MW, and is located at Shingair, Manikganj, Bangladesh.
Under the syndication arrangements, City Bank has arranged long term loan facilities totaling Tk742 crore taka from Bank Asia Limited, Eastern Bank Limited and itself, according to a press release.
City Bank participated in the syndication with Tk217 crore and provided credit guarantee of Tk525 crore against which Bank Asia and Eastern Bank have financed their parts.
The financial closure ceremony took place in the capital’s Renaissance Dhaka Gulshan Hotel.
Tahzeeb Alam Siddique MP, managing director of Manikganj Power Generations Limited; Mashrur Arefin, managing director and CEO of City Bank; Md Arfan Ali, president and managing director of Bank Asia Limited and Ahmed Shaheen, deputy managing director and head of corporate banking Bangladesh of Eastern Bank Limited, were present the occasion.
