The New Nation - Internet Edition

3-day Krishi Mela begins in B'baria

UNB, Brahmanbaria

A three-day Krishi Mela (Agriculture Fair) began in Nabinagar upzila headquarters here on Tuesday.

Deputy director of district Agriculture Extension Department (DAE)

Abul Kalam Mondol formally inaugurated the fair.

Different agricultural products and improved techniques on agriculture were on display in 16 stalls in the fair.

IFIC Bank declares 100pc stock dividend: Earned Tk 965 million profit after tax in 2007

BUSINESS REPORT

International Finance Investment and Commerce (IFIC) Bank Limited yesterday declared 100 per cent stock dividend or a bonus share against the each of the existing shares of the investors which will be given from the profits earned last year.

This was declared by Mohammad Lutfar Rahman, Chairman of IFIC Bank Limited, amid repeated clapping of the shareholders at the bank's 31st annual general meeting (AGM) held at BDR Darbar Hall, Peelkhana in the city.

Directors Abu Taher Mohammad Golam Maruf, Morshed Murad Ibrahim, Aminur Rahman, Md Yasin Ali (representing M/s Regent Textile Mills Ltd), Didarul Alam, Chowdhury Nafis Sharafat, Gulzar Alam Chowdhury (representing M/s Tamishna Dyeing Industries Ltd), Tanim Noman Sattar, Mahmud Ul Huq Bhuiyan, Arastu Khan, Syed Manzurul Islam and Mohammad Ali Khan, ndc were present.

Besides, Managing Director of IFIC Bank Ltd Mashiur Rahman and Deputy Managing Director Mohammad Abdullah, senior officials of the bank and a large number of shareholders were present at the AGM.

Presenting the highlights of 2007, Mohammad Lutfar Rahman who presided over the AGM, told that IFIC Bank Ltd's operating profit was increased by 67 per cent to Tk 3,299 million, while profit after tax was increased by 280 per cent to Tk 965 million from the preceding year.

Moreover, the shareholders' equity was increased by 60 per cent to Tk 2,614 million while return of assets improved from 0.70 per cent to 2.42 per cent and return of investment improved from 9.11 per cent to 13.56 per cent.

The chairman said the bank made wonderful achievements in 2007. Since its inception the IFIC Bank Ltd has been giving priorities to the rural sector and providing excellent banking services to the people of all strata of the society. The bank has been able to achieve unprecedented success by expanding its branch network for the flourishing of rural economy announced by the government. The bank has also undertaken multifarious programmes for ensuring its growing involvement in corporate social responsibility.

Mohammad Lutfar Rahman said that the IFIC Bank Ltd has been carrying out its business operations in a very transparent manner--both internally and externally.

"We believe that we have succeeded to establish the bank on a strong footing for future and we are determined to utilize the full potentials of it," he said.

Lutfar Rahman said professional skills and experiences have given the IFIC Bank an institutional shape. The bank has entered into a new and widened horizon utilizing its farsighted business policies, specially marketing, customer services and improved management system

Congratulating the directors, executives, officials and employees at all levels of the bank for their sincere support and cooperation, he also thanked the customers, the government, Bangladesh Bank, Finance Ministry, Securities and Exchange Commission, Dhaka Stock Exchange and Chittagong Stock Exchange, and others concerned for their overall support and cooperation.

Speaking at the AGM, Managing Director Mashiur Rahman said the operating income of the bank stood Tk 1,322.32 million in 2007, up 66.86 per cent from the preceding year. "We expect to make further progress in the years to come," he said.

It may be mentioned that IFIC Bank Ltd has now 69 branches across the country. Its total officials and employees stood at 1,996.

Citycell distributor manual handover ceremony held

Citycell takes another step in moving forward with the introduction of its Distributor Manual. The handover ceremony of Distributor Manual was held on May 26, at Citycell's Head office at Pacific Centre in Dhaka.

Mohammad Fahim, Deputy General Manager, Sales of Citycell conveyed heartiest welcome to the guests, while Citycell CEO Michael Seymour handed over the manuals to the distributors.

The 'Distributor Manual' is aimed at presenting better guidelines for distribution.

The program ended with vote of thanks from Arif Khan, General Manager, Sales and Distribution of Citycell. Dr. Anand Rajasingham, Head of Marketing and Md. Tarikul Hasan, Chief of Customer Care of Citycell were also present at the ceremony.

UCBL managers' meeting held

BUSINESS REPORT

The Managers' Meeting of Rajshahi, Khulna Sylhet and Barisal Division Branches of United Commercial Bank Ltd was held on May 24 at the bank's Training Institute at Motijheel in the city with Shah A Sarwar, Managing Director (CC) in the chair. It was attended by Branch Incumbents, Divisional Heads and Senior Executives of Head Office.

The conference reviewed the activities and achievements of the branches and special emphases was given for mobilization of deposit, recovery of overdue and classification advances, increasing the volume of business, growth & profit during the coming months to achieve targets set for June 2008 and face the existing challenges in the banking sector.

AKM Kamaluddin and MS Kamaluddin, Deputy Managing Directors in their deliberations advised the Branch Incumbents to strengthen operational activities with adequate business drive effecting full range services to the clients with professional dedication and hard work and also to follow the Core Risk Management Guidelines meticulously.

BSRM introduces next-generation steel: Xtreme-5OOW

Grade 500W is the highest quality steel, helping make constructions stronger, safer, more durable, and also more cost-effective. These rods are now extensively used all over the world. In Europe, India, Malaysia, Thailand, Singapore and the Middle East, Grade 500 steel is almost exclusively used in any form of construction. And today, BSRM brings this steel to your doorsteps in every district of the country.

Using premium European technology, BSRM has set up a 375,000 tons-perannum state-of-the-art steel-rolling mill to cater to the country's demand for quality steel It is here where Grade 500 steel is produced, named 'Xtreme 500W', which is far superior to each and every type of steel currently available in the local market. These rods have a yield-strength of over 500mpa [72,500 psi], which is 20.8% stronger than Grade 60 steel; hence less quantity of steel is needed in construction. Xtreme-500W rods are easily weldable and save steel in splicing of steel rods in columns and beams. Typical column splices require 20D [20 bar diameter], while welded splices can be reduced to 5D. Welded steel cages are also very rigid, can resist shearing forces and will not distort when pouring concrete or by vibrators, as opposed to rods that are tied with wires. By conforming to international and BSTI standards for carbon composition, Xtreme-500W rods also have more ductility and endurance. They are more elastic than Grade 60 steel, and have more elongation, making them easier to bend while ensuring there is no danger from brittle breakage. Superior fatigue-resistance to vibrations and shock-loading offers added protection against earthquakes. Xtreme-500W rods have superior bonding to concrete as compared to any other steel.

BSRM is the only steel manufacturer in the country to have invested in this premium European technology, and where high quality construction is concerned, there really is no substitute for Xtreme-500W.

Delta Life Insurance sings deal with BGMEA for of group life insurance

BUSINESS REPORT

Delta Life Insurance Company Limited and Bangladesh Garment Manufacturers & Exporters Association (BGMEA) entered into a "Group Life Insurance" agreement on 26th May '08.

Under this agreement Delta Life will take the life insurance liabilities of the registered Garments' workers of BGMEA.

Das Deba Prashad, Managing Director of Delta Life Insurance Company Ltd. and Anwar-UI-Alam Chowdhury (Parvez), Managing Director of Bangladesh Garment Manufactuers & Exporters Association (BGMEA) signed the contract infavour of each company.

Chairman, Board of Directors Syed Moazzem Hussain, Members of Board of Directors of Delta Life Insurance Company Limited and Harun-Or-Rashid, Mahmud Hasan Khan (Babu) of Bangladesh Garment Manufacturers & Exporters Association (BGMEA) also witnessed on the occasion.

Krishi Bank board meeting held

BUSINESS REPORT

The 458th board meeting of Bangladesh Krishi Bank was held in the Board Room of the bank on May 27.

Khondkar Ibrahim Khaled, Chairman of the Board of Directors of the bank chaired the meeting.

Directors of the Board of Directors, Managing Director, Deputy Managing Directors, all General Managers of Head Office, Secretary of the Board of Directors and concerned Deputy General Managers were present on the occasion. Some important decisions on the various affairs of the bank were taken at the meeting.

Dhaka Bank starts online credit approval system

Dhaka Bank, a premier financial institution held a launching ceremony of OCAS Share Point Advanced Process Automation Portal, developed by Dhaka Bank IT Division.

The software integrates Branch and Head Office processes for application initiation to approval and is expected to increase operation efficiency by reducing decision making time.

The ceremony was addressed and formally launched by Mohammad Abu Musa, Deputy Managing Director along with Managers of Dhaka Region Branches and Head Office Executives.

'OCAS is expected to add cutting edge to the way we process proposals, its online tractability, built in KPls for process performance measurement is expected to increase our customers confidence on us,' Mohammad Abu Musa said.

Muhammad H Kafi, EVP and Head of IT and BPR conducted the workshop.

Md Abdus Salam new DMD of Jamuna Bank

Md Abdus Salam has joined as Deputy Managing Director of Jamuna Bank Limited with effect from April 1. He joined the bank in February 2005 as Executive Vice President and was Manager of its Foreign Exchange Branch, Dhaka. He was elevated to the position of Senior Executive Vice President of the Bank from February 1, 2006. Then he was promoted to the rank of Deputy Managing Director with effect from April 0l. Salam was General Manager of Janata Bank prior to joining Jamuna Bank Limited.

Citycell customers to enjoy special discount from Etcetera

Citycell customers will get special discount on books, gift items and toys at all the outlets of Etcetera in Dhaka. Both the companies recently signed an agreement in this regard at a signing ceremony held at Citycell's Head Office. This special discount will be available through Citycell's Platinum Card, Gold Card and V-Card (SMS Discount Coupon). Platinum and Gold Card holders will enjoy 5% discount on specific Etcetera items. All Citycell customers will also be able to get 5% discount through V-Card (SMS Discount Coupon). They have to type 'cvcetc' and send SMS to 2525 number to receive discount detail via return SMS.

Syed Anwar Ali, Head of Procurement of Etcetera Bangladesh (Pvt.) Ltd. and Dr. Anand Rajasingham, Head of Marketing of Citycell signed the agreement on behalf of their respective organizations. Ms. Faria Rahman, Manager, Marketing of Etcetera and Ms. Sania Mahmood, General Manager, Marketing Communications and Branding, Ahmed Armaan Siddiqui, Deputy General Manager and Mohammad Jakirul Islam, Executive, Product and Business Development of Citycell were also present on the occasion.