Macro

IMF for making data on banks’ distressed assets, inspection reports public
The International Monetary Fund (IMF) has recommended the complete disclosure of data regarding distressed assets – including
defaulted loans – held by the country's banks. Additionally, the multilateral lender has suggested that inspection reports on the
financial health of banks, conducted by the Bangladesh Bank, should be made available to customers.
https://www.tbsnews.net/economy/banking/imf-making-data-banks-distressed-assets-inspection-reports-public-838651

IMF for 15% VAT on all goods, services for businesses with over Tk3cr turnover
The International Monetary Fund (IMF) has proposed implementing a 15% Value Added Tax (VAT) on all types of goods and
services from businesses with turnover above Tk3 crore, removing their reduced VAT rates and exemptions. In a meeting with
NBR officials on Sunday (28 April), a visiting IMF delegation led by Rahul Anand suggested withdrawing VAT exemptions and
rate reductions in various sectors, including clothing, footwear, education, health care, liquefied petroleum gas, and mobile
phones.
https://www.tbsnews.net/nbr/imf-15-vat-all-goods-services-businesses-over-tk3cr-turnover-838701

NBR submits spending-cut measures

Taxmen sought a hefty allocation for vehicles as logistics support for compliance enforcement to achieve direct- tax -collection
target in next fiscal as the IMF forwarded a revenue-raising recipe. Taxmen presented an estimate of Tk 7.0 billion worth of
allocation on account of vehicles to drive to the goal being set for tax mobilisation to make up for shortfalls.
https://today.thefinancialexpress.com.bd/first-page/nbr-submits-spending-cut-measures-1714327632

Govt borrowing from commercial banks rises 12 times in Jul-Apr

The government's borrowing from state-owned and private commercial banks has surged in the first 10 months of the current
fiscal year, reaching over Tk65,000 crore through the sale of treasury bills and bonds. According to data from the Bangladesh
Bank, the government's net borrowing from the banking sector amounted to Tk45,557 crore from last July to 22 April this year,
as a repayment of Tk19,874 crore was made to the central bank.
https://www.tbsnews.net/economy/banking/govt-borrowing-commercial-banks-rises-12-times-jul-apr-838686

BD economy now in 'yellow zone'

Bangladesh economy is now in a 'yellow zone' due to inflationary pressure, depleting forex reserve which needs at least next two
years to become 'green'. Continuation of contractionary monetary and fiscal policy is required to improve the status. It also needs
to merge the government's ministries to cut its number and trim expenditures, efficient management of state-owned enterprises
asset value, slashing G2G loan and focus on concessionary loans.
https://today.thefinancialexpress.com.bd/last-page/bd-economy-now-in-yellow-zone-1714327978

Bank
Banks asked to enhance collection of deposits from expats in offshore units
The central bank has directed all banks in the country to increase deposit collection of expatriate Bangladeshis in their offshore
banking units (OBUs). The directive came at a meeting between policymaking officials of the Bangladesh Bank, and several
private banks, including BRAC Bank, Mutual Trust Bank, City Bank, on Sunday.
https://www.tbsnews.net/economy/banking/banks-asked-enhance-collection-deposits-expats-offshore-units-838671

Stock
National Bank's 54pc cut in losses offers a glimmer of hope
National Bank continued to be in the red in 2023, weighed down by default loans and higher interest payments against borrowed
funds and deposits. However, the amount of losses incurred last year was 54 per cent less to Tk 14.97 billion, compared to the
previous year. "The bank could not book interest on loans and advances due to non-recovery from defaulters," said the bank in a
filing on the Dhaka Stock Exchange (DSE) on Sunday.
https://today.thefinancialexpress.com.bd/stock-corporate/national-banks-54pc-cut-in-losses-offers-a-glimmer-of-hope-
1714321232

Runner's losses drop on cost cutting, subsidiary returning to profit

Runner Automobiles managed to reduce losses in the third quarter of FY24, compared to the same period a year ago, riding on
higher revenue and a higher operating profit. The company's consolidated loss fell 19 per cent year-on-year to Tk 426.77 million
in January-March this year. Runner's Chairman Hafizur Rahman Khan said the company's cost-cutting mechanism played a role
behind the loss reduction in the quarter through March, compared to the same quarter of the previous year.
https://today.thefinancialexpress.com.bd/stock-corporate/runners-losses-drop-on-cost-cutting-subsidiary-returning-to-profit-
1714321332

NRB Bank’s profit grows 43% in 2023

NRB Bank reported that its consolidated profit jumped 43% in the year of 2023, compared to the previous year. The bank
disclosed the yearly financial statement that was approved at the board meeting held on Sunday. Meanwhile, the bank declared a
10% cash dividend for its general shareholders and 6% cash for its sponsors and directors.
https://www.tbsnews.net/economy/stocks/nrb-banks-profit-grows-43-2023-838581

ICB incurs Tk267cr loss in Jul-Mar

Investment Corporation of Bangladesh (ICB) incurred a loss of Tk267 crore in the July-March period of the fiscal year 2023-24.
Its consolidated negative earnings per share stood at Tk3.08 at the end of the first three quarters of the current fiscal year.
https://www.tbsnews.net/economy/stocks/icb-incurs-tk267cr-loss-jul-mar-838576