1) ABBANK is a commercial bank in Vietnam that has experienced significant growth over the last 5 years, expanding from a rural bank to an urban bank with 118 offices nationwide.
2) ABBANK aims to grow annually at 35-40% through 2016 by diversifying products/services and partnering with other Vietnamese and international banks.
3) ABBANK's vision is to become a leading commercial bank in Vietnam offering universal banking services with a focus on retail banking and adopting international best practices.
Global equity markets gained in Q4 2013 but declined slightly for the week as markets had an uncertain start to the new year. Asian markets were lackluster amid weak Chinese economic data that showed a deceleration in activity. European markets started cautiously despite positive economic data. US markets edged lower on thin volumes. Indian markets closed 2013 in positive territory but declined for the week on mixed domestic data. The document discusses economic and market performance in recent periods and provides an outlook for 2014, noting signs of stabilization in the Indian economy.
China has the second largest economy globally and is projected to surpass the US by 2020. It has experienced strong and consistent GDP growth for decades, averaging around 7-9% annually, though growth has slowed recently. China has a one-party communist government and is transitioning its economy from manufacturing and exports to more domestic consumption and innovation. It faces challenges from a slowing housing market and global economic uncertainties.
MTBiz is for you if you are looking for contemporary information on business, economy and especially on banking industry of Bangladesh. You would also find periodical information on Global Economy and Commodity Markets.
Signature content of MTBiz is its Article of the Month (AoM), as depicted on Cover Page of each issue, with featured focus on different issues that fall into the wide definition of Market, Business, Organization and Leadership. The AoM also covers areas on Innovation, Central Banking, Monetary Policy, National Budget, Economic Depression or Growth and Capital Market. Scale of coverage of the AoM both, global and local subject to each issue.
MTBiz is a monthly Market Review produced and distributed by Group R&D, MTB since 2009.
- Global equity markets gained over the week on hopes of continued accommodative monetary policies from central banks and strong M&A activity.
- In Asia, markets rose with Hong Kong gaining on potential easing of China's capital controls and India benefitting from measures to stabilize the rupee.
- European markets increased as central banks left rates unchanged and data showed ongoing recovery in the Eurozone economy.
Indian equities surged in the month of March in a catch-up rally after months of range-bound trading on the back of easing inflation giving rise to expectation of lower interest rates, strengthening rupee and record foreign investor flows. Indian equities rose by 7.8 per cent during the month.
Read the full document to know more.
The US Federal Reserve raised interest rates in December 2015 for the first time in nearly a decade. This rate hike is expected to have significant impacts on emerging economies. Emerging economies had benefited from large capital inflows as investors sought higher yields, but now rates are rising in the US. The higher US rates will strengthen the dollar and make dollar-denominated debt more expensive to pay back, potentially causing volatility in emerging market currencies and stock markets. The Federal Reserve decided to raise rates as unemployment has fallen to 5% and inflation is near the Fed's 2% target, indicating the US economy has recovered sufficiently from the financial crisis.
The document provides an analysis of the state of the Bangladesh economy in Fiscal Year 2015. Some key points:
- Economic growth fell short of ambitious targets in FY13 and FY14. Private investment remained sluggish.
- In FY15, GDP growth is projected to be 6.5%, below the target of 8%. Revenue collection and private investment face challenges.
- Inflation stabilized at a lower level but food inflation remains high. The balance of payments showed some pressure.
- Private investment in major sectors like manufacturing and services has not picked up as expected in the post-election year. Import of machinery increased but the sustainability of this trend is uncertain.
Global equity markets gained in Q4 2013 but declined slightly for the week as markets had an uncertain start to the new year. Asian markets were lackluster amid weak Chinese economic data that showed a deceleration in activity. European markets started cautiously despite positive economic data. US markets edged lower on thin volumes. Indian markets closed 2013 in positive territory but declined for the week on mixed domestic data. The document discusses economic and market performance in recent periods and provides an outlook for 2014, noting signs of stabilization in the Indian economy.
China has the second largest economy globally and is projected to surpass the US by 2020. It has experienced strong and consistent GDP growth for decades, averaging around 7-9% annually, though growth has slowed recently. China has a one-party communist government and is transitioning its economy from manufacturing and exports to more domestic consumption and innovation. It faces challenges from a slowing housing market and global economic uncertainties.
MTBiz is for you if you are looking for contemporary information on business, economy and especially on banking industry of Bangladesh. You would also find periodical information on Global Economy and Commodity Markets.
Signature content of MTBiz is its Article of the Month (AoM), as depicted on Cover Page of each issue, with featured focus on different issues that fall into the wide definition of Market, Business, Organization and Leadership. The AoM also covers areas on Innovation, Central Banking, Monetary Policy, National Budget, Economic Depression or Growth and Capital Market. Scale of coverage of the AoM both, global and local subject to each issue.
MTBiz is a monthly Market Review produced and distributed by Group R&D, MTB since 2009.
- Global equity markets gained over the week on hopes of continued accommodative monetary policies from central banks and strong M&A activity.
- In Asia, markets rose with Hong Kong gaining on potential easing of China's capital controls and India benefitting from measures to stabilize the rupee.
- European markets increased as central banks left rates unchanged and data showed ongoing recovery in the Eurozone economy.
Indian equities surged in the month of March in a catch-up rally after months of range-bound trading on the back of easing inflation giving rise to expectation of lower interest rates, strengthening rupee and record foreign investor flows. Indian equities rose by 7.8 per cent during the month.
Read the full document to know more.
The US Federal Reserve raised interest rates in December 2015 for the first time in nearly a decade. This rate hike is expected to have significant impacts on emerging economies. Emerging economies had benefited from large capital inflows as investors sought higher yields, but now rates are rising in the US. The higher US rates will strengthen the dollar and make dollar-denominated debt more expensive to pay back, potentially causing volatility in emerging market currencies and stock markets. The Federal Reserve decided to raise rates as unemployment has fallen to 5% and inflation is near the Fed's 2% target, indicating the US economy has recovered sufficiently from the financial crisis.
The document provides an analysis of the state of the Bangladesh economy in Fiscal Year 2015. Some key points:
- Economic growth fell short of ambitious targets in FY13 and FY14. Private investment remained sluggish.
- In FY15, GDP growth is projected to be 6.5%, below the target of 8%. Revenue collection and private investment face challenges.
- Inflation stabilized at a lower level but food inflation remains high. The balance of payments showed some pressure.
- Private investment in major sectors like manufacturing and services has not picked up as expected in the post-election year. Import of machinery increased but the sustainability of this trend is uncertain.
This document discusses 10 major challenges confronting the Reserve Bank of India and opportunities for commercial banks to address some of these challenges. The challenges include propelling domestic growth, controlling persistent inflation, mitigating external sector vulnerabilities, and improving various aspects of the financial system. It outlines how inflation impacts household savings and investment. It also discusses opportunities for banks in sectors like MSME, agriculture, housing, and infrastructure to help boost growth. Banks can play a role in curbing food inflation through financing supply chains and providing short-term credit to vendors. Addressing these challenges will require balancing monetary policy objectives of growth and inflation.
The Economic growth rate of Indian Economy can be accelerated from the present levels. It requires the co-operation from all segments of the Indian society.
The document analyzes Sri Lanka's potential to achieve higher economic growth targets. It finds that Sri Lanka is well positioned due to recent macroeconomic gains like low inflation and unemployment. However, pursuing 9% growth would require overcoming challenges like a high budget deficit, "brain drain", and infrastructure deficits. The document recommends policies like privatization, fiscal reforms, and investing in education, infrastructure, and sustainable "green growth" to boost productivity and feasibility of higher targets while mitigating potential negative impacts on inequality and the environment.
Thailand faces economic headwinds in 2014 as its workforce becomes less competitive due to low productivity growth and wage inflation. While government measures aim to shift manufacturing towards higher value goods, this transition will be gradual. Populist policies like the rice pledging scheme have cost billions and hurt competitiveness. Business confidence in Thailand fell sharply in Q3 2013, with over half of businesses citing lack of demand and skilled labor as key constraints. The economy is projected to grow 4.8% in 2014, though challenges may result in slower growth. Infrastructure spending is expected to boost prospects in the medium term if delays can be avoided.
The document summarizes the current state of the US economy. It notes that while growth has been slower than expected, unemployment is falling and inflation is under control. Housing and corporate investment are improving. The government is on track to reduce the deficit through spending cuts and tax increases. The economic recovery does not yet appear secure enough to withdraw stimulus, so a gradual withdrawal beginning in 2014 is recommended once unemployment and inflation targets are met.
The document discusses the impact of debt on Pakistan's economy. It analyzes the relationship between domestic debt, external debt, and economic growth in Pakistan over 38 years from 1980 to 2018. The results show that domestic debt has a positive relationship with economic growth, while external debt has a negative relationship. Specifically, for every 1 unit increase in domestic debt, economic growth increases by 0.00067 units, and for every 1 unit increase in external debt, economic growth decreases by 0.0015 units. Therefore, the study concludes that external debt has a greater negative impact on Pakistan's economic growth compared to domestic debt. It recommends that Pakistan only take on external debt when necessary due to its harmful effects.
This document discusses the role of banks, credit, and consumer credit in the Bangladesh economy. It provides background on commercial banks and their role in lending money and processing transactions. It describes how banks in Bangladesh, like Dhaka Bank, provide various types of consumer credit to help develop people's living standards. The document outlines the history of banking in Bangladesh and the role of specialized financial institutions. It also discusses issues with credit administration in the past, as well as the success of the Grameen Bank in providing loans to the poor.
This document summarizes major economic indicators of Bangladesh, including GDP, GNP, per capita income, unemployment rate, inflation rate, interest rates, literacy rate, balance of trade, and remittances. It provides definitions and formulas for calculating GDP, GNP, and per capita income. Charts are included showing GDP growth and per capita income trends over the last 10 years in Bangladesh as well as unemployment rate trends. The document was presented by a student at the University of Dhaka as part of a course on managerial economics.
The document discusses trends in the Indian economy from 2003-2010. It highlights that India experienced high growth driven by structural factors like favorable demographics, increasing urbanization, and rising foreign direct investment. It also notes that India's influence on the global economy is growing and that multinational companies are emerging from India. The document then outlines several sectors that are promising growth rates of over 10%, 15%, and 20% annually and states that McKinsey projects India's economy will grow to $1.76 trillion by 2025. Potential threats to growth mentioned include fluctuations in the rupee and oil prices, low FDI, and high inflation.
- India's stock market benchmark NIFTY delivered negative returns of -3.86% in 2015, breaking the streak of positive returns since 2012. This was due to lower corporate earnings growth, higher debt levels, and a weakening global economy.
- Key factors negatively impacting the Indian market were a slowdown in the Chinese economy, falling commodity prices, and troubled European economies. Domestic factors included deteriorating corporate sales and profitability in subsequent quarters of 2015.
- However, India remained the fastest growing major economy in 2015. The medium to long term outlook for India remains positive due to ongoing economic reforms, making it an attractive investment destination despite short term challenges.
This document provides an economic update and outlook for India. It summarizes that India's GDP growth slowed to a 10-year low of 4.5% in the third quarter due to declines in agriculture, mining, and manufacturing. Inflation rates have been falling but remain elevated. The RBI recently cut interest rates and expects further monetary easing this fiscal year alongside reforms to revive investment and growth. Equity markets have performed well recently and earnings are expected to grow 12% this year led by private banks, healthcare and consumer companies. The outlook provides sector views, favoring healthcare, banking, and FMCG.
We believe that the divergence between Value and Growth stocks continues to prevail, & that volatility is a factor which is inherent in equity as an asset class.
The document provides an overview and outlook for the Indian economy and fiscal year 2018. Some key points:
1. The economic survey for 2016-2017 used big data analytics to gain new insights about the economy, such as estimates of annual work-related migration being double previous census figures.
2. Growth in the first half of FY2017 slowed to 7.2% due to a sharp decline in fixed investment. Inflation moderated as food prices decreased. The external position remains robust.
3. For FY2018, growth is expected to remain in the 6.75-7.5% range. Exports are expected to recover as global growth increases. Private consumption growth is uncertain due to
Interim Budget 2019, presented on Feb 1, held a few good surprises for the farmer community and the salaried classes but was largely in line with market expectations. Markets, which had already ended January 2019 on a flat note (up 0.5% for the month), remained largely unaffected by the Budget announcements. Read the document to know more.
The document provides a market and economic outlook report for June 2013. It identifies several positive factors for the Indian markets in the coming months, including strong FII inflows due to quantitative easing by Japan and the US. GDP growth is seen to have bottomed out, and inflation is expected to continue declining. The report also notes that rate cuts are likely to continue and commodity prices are declining. Key projects are moving forward and the monsoon is on schedule. Reliance also reported a significant gas find.
The article discusses achieving a sustainable economy through innovation. A sustainable economy is one where resources are used at a rate that allows nature to replenish them, and benefits are shared equitably. The challenges are curbing consumption in developed nations while raising standards of living in developing nations without increasing overall resource use. This can be achieved through strategies and technologies that break the link between economic growth and environmental damage. The article argues that attaining sustainable development is one of the most important long-term challenges faced as businesses, cities, and regions that lead the sustainability revolution will prosper in the new low-carbon economy.
Etude PwC sur les opérations de fusions et acquisitions dans le secteur banca...PwC France
The document discusses how banking mergers and acquisitions (M&A) are evolving in a new environment shaped by long-term trends and short-term factors. It notes that banking M&A has declined significantly since the financial crisis but will remain important for adaptation. Key drivers changing banking M&A include economic growth in emerging markets, increasing banking integration globally, ongoing regulatory reforms, and strategic shifts in goals and participants. The document then analyzes how banking M&A is evolving differently across key regions and through other transactions like loan sales.
Global equity markets regained stability and gained over the week as positive economic data from Europe eased investor concerns. In Asia, markets were mixed with Japan, Hong Kong, and South Korea declining while China gained. In Europe, good earnings and economic data boosted stocks despite declines in some countries. US stocks rose as soft economic data eased rate hike fears. In India, markets gained on improved global sentiment despite some sectors declining, while bond yields fell and the rupee strengthened.
Macroeconomics Performance of Bangladesh since IndependenceIsrat Jahan
1) The document is a term paper analyzing the macroeconomic performance of Bangladesh since independence. It examines key indicators such as GDP growth, sectoral contributions, consumption, investment, savings, inflation trends, and conclusions.
2) The paper finds that while Bangladesh has made progress, growth could have been higher if the labor force was utilized more efficiently. GDP growth has averaged around 6-7% annually with steady reductions in poverty.
3) Inflation has generally been high and food-driven. The paper recommends increasing direct taxation through identifying new taxpayers and maintaining money supply growth consistent with commodity growth to control inflation.
Swedbank was founded in 1820, as Sweden’s first savings bank was established. Today, our heritage is visible in that we truly are a bank for each and every one and in that we still strive to contribute to a sustainable development of society and our environment. We are strongly committed to society as a whole and keen to help bring about a sustainable form of societal development. Our Swedish operations hold an ISO 14001 environmental certification, and environmental work is an integral part of our business activities.
Ringkasan: Bab 4 membahas tentang menambahkan animasi, suara, dan video ke dalam presentasi. Termasuk langkah-langkah menambahkan animasi, mengatur animasi agar berjalan secara otomatis, mengatur efek perpindahan slide, menambahkan hyperlink, video, dan suara ke dalam slide.
Welcome to quiz on get up get moving ppiJamie Anker
This document outlines an interactive quiz on active and healthy lifestyles. It contains 11 multiple choice questions about topics like BMI, exercise, diet, sleep, and more. The user selects an answer for each question and receives feedback on whether it is correct or incorrect, with encouragement to try again. If correct, they move on to the next question. The goal is to answer all 11 questions to complete the quiz.
This document discusses 10 major challenges confronting the Reserve Bank of India and opportunities for commercial banks to address some of these challenges. The challenges include propelling domestic growth, controlling persistent inflation, mitigating external sector vulnerabilities, and improving various aspects of the financial system. It outlines how inflation impacts household savings and investment. It also discusses opportunities for banks in sectors like MSME, agriculture, housing, and infrastructure to help boost growth. Banks can play a role in curbing food inflation through financing supply chains and providing short-term credit to vendors. Addressing these challenges will require balancing monetary policy objectives of growth and inflation.
The Economic growth rate of Indian Economy can be accelerated from the present levels. It requires the co-operation from all segments of the Indian society.
The document analyzes Sri Lanka's potential to achieve higher economic growth targets. It finds that Sri Lanka is well positioned due to recent macroeconomic gains like low inflation and unemployment. However, pursuing 9% growth would require overcoming challenges like a high budget deficit, "brain drain", and infrastructure deficits. The document recommends policies like privatization, fiscal reforms, and investing in education, infrastructure, and sustainable "green growth" to boost productivity and feasibility of higher targets while mitigating potential negative impacts on inequality and the environment.
Thailand faces economic headwinds in 2014 as its workforce becomes less competitive due to low productivity growth and wage inflation. While government measures aim to shift manufacturing towards higher value goods, this transition will be gradual. Populist policies like the rice pledging scheme have cost billions and hurt competitiveness. Business confidence in Thailand fell sharply in Q3 2013, with over half of businesses citing lack of demand and skilled labor as key constraints. The economy is projected to grow 4.8% in 2014, though challenges may result in slower growth. Infrastructure spending is expected to boost prospects in the medium term if delays can be avoided.
The document summarizes the current state of the US economy. It notes that while growth has been slower than expected, unemployment is falling and inflation is under control. Housing and corporate investment are improving. The government is on track to reduce the deficit through spending cuts and tax increases. The economic recovery does not yet appear secure enough to withdraw stimulus, so a gradual withdrawal beginning in 2014 is recommended once unemployment and inflation targets are met.
The document discusses the impact of debt on Pakistan's economy. It analyzes the relationship between domestic debt, external debt, and economic growth in Pakistan over 38 years from 1980 to 2018. The results show that domestic debt has a positive relationship with economic growth, while external debt has a negative relationship. Specifically, for every 1 unit increase in domestic debt, economic growth increases by 0.00067 units, and for every 1 unit increase in external debt, economic growth decreases by 0.0015 units. Therefore, the study concludes that external debt has a greater negative impact on Pakistan's economic growth compared to domestic debt. It recommends that Pakistan only take on external debt when necessary due to its harmful effects.
This document discusses the role of banks, credit, and consumer credit in the Bangladesh economy. It provides background on commercial banks and their role in lending money and processing transactions. It describes how banks in Bangladesh, like Dhaka Bank, provide various types of consumer credit to help develop people's living standards. The document outlines the history of banking in Bangladesh and the role of specialized financial institutions. It also discusses issues with credit administration in the past, as well as the success of the Grameen Bank in providing loans to the poor.
This document summarizes major economic indicators of Bangladesh, including GDP, GNP, per capita income, unemployment rate, inflation rate, interest rates, literacy rate, balance of trade, and remittances. It provides definitions and formulas for calculating GDP, GNP, and per capita income. Charts are included showing GDP growth and per capita income trends over the last 10 years in Bangladesh as well as unemployment rate trends. The document was presented by a student at the University of Dhaka as part of a course on managerial economics.
The document discusses trends in the Indian economy from 2003-2010. It highlights that India experienced high growth driven by structural factors like favorable demographics, increasing urbanization, and rising foreign direct investment. It also notes that India's influence on the global economy is growing and that multinational companies are emerging from India. The document then outlines several sectors that are promising growth rates of over 10%, 15%, and 20% annually and states that McKinsey projects India's economy will grow to $1.76 trillion by 2025. Potential threats to growth mentioned include fluctuations in the rupee and oil prices, low FDI, and high inflation.
- India's stock market benchmark NIFTY delivered negative returns of -3.86% in 2015, breaking the streak of positive returns since 2012. This was due to lower corporate earnings growth, higher debt levels, and a weakening global economy.
- Key factors negatively impacting the Indian market were a slowdown in the Chinese economy, falling commodity prices, and troubled European economies. Domestic factors included deteriorating corporate sales and profitability in subsequent quarters of 2015.
- However, India remained the fastest growing major economy in 2015. The medium to long term outlook for India remains positive due to ongoing economic reforms, making it an attractive investment destination despite short term challenges.
This document provides an economic update and outlook for India. It summarizes that India's GDP growth slowed to a 10-year low of 4.5% in the third quarter due to declines in agriculture, mining, and manufacturing. Inflation rates have been falling but remain elevated. The RBI recently cut interest rates and expects further monetary easing this fiscal year alongside reforms to revive investment and growth. Equity markets have performed well recently and earnings are expected to grow 12% this year led by private banks, healthcare and consumer companies. The outlook provides sector views, favoring healthcare, banking, and FMCG.
We believe that the divergence between Value and Growth stocks continues to prevail, & that volatility is a factor which is inherent in equity as an asset class.
The document provides an overview and outlook for the Indian economy and fiscal year 2018. Some key points:
1. The economic survey for 2016-2017 used big data analytics to gain new insights about the economy, such as estimates of annual work-related migration being double previous census figures.
2. Growth in the first half of FY2017 slowed to 7.2% due to a sharp decline in fixed investment. Inflation moderated as food prices decreased. The external position remains robust.
3. For FY2018, growth is expected to remain in the 6.75-7.5% range. Exports are expected to recover as global growth increases. Private consumption growth is uncertain due to
Interim Budget 2019, presented on Feb 1, held a few good surprises for the farmer community and the salaried classes but was largely in line with market expectations. Markets, which had already ended January 2019 on a flat note (up 0.5% for the month), remained largely unaffected by the Budget announcements. Read the document to know more.
The document provides a market and economic outlook report for June 2013. It identifies several positive factors for the Indian markets in the coming months, including strong FII inflows due to quantitative easing by Japan and the US. GDP growth is seen to have bottomed out, and inflation is expected to continue declining. The report also notes that rate cuts are likely to continue and commodity prices are declining. Key projects are moving forward and the monsoon is on schedule. Reliance also reported a significant gas find.
The article discusses achieving a sustainable economy through innovation. A sustainable economy is one where resources are used at a rate that allows nature to replenish them, and benefits are shared equitably. The challenges are curbing consumption in developed nations while raising standards of living in developing nations without increasing overall resource use. This can be achieved through strategies and technologies that break the link between economic growth and environmental damage. The article argues that attaining sustainable development is one of the most important long-term challenges faced as businesses, cities, and regions that lead the sustainability revolution will prosper in the new low-carbon economy.
Etude PwC sur les opérations de fusions et acquisitions dans le secteur banca...PwC France
The document discusses how banking mergers and acquisitions (M&A) are evolving in a new environment shaped by long-term trends and short-term factors. It notes that banking M&A has declined significantly since the financial crisis but will remain important for adaptation. Key drivers changing banking M&A include economic growth in emerging markets, increasing banking integration globally, ongoing regulatory reforms, and strategic shifts in goals and participants. The document then analyzes how banking M&A is evolving differently across key regions and through other transactions like loan sales.
Global equity markets regained stability and gained over the week as positive economic data from Europe eased investor concerns. In Asia, markets were mixed with Japan, Hong Kong, and South Korea declining while China gained. In Europe, good earnings and economic data boosted stocks despite declines in some countries. US stocks rose as soft economic data eased rate hike fears. In India, markets gained on improved global sentiment despite some sectors declining, while bond yields fell and the rupee strengthened.
Macroeconomics Performance of Bangladesh since IndependenceIsrat Jahan
1) The document is a term paper analyzing the macroeconomic performance of Bangladesh since independence. It examines key indicators such as GDP growth, sectoral contributions, consumption, investment, savings, inflation trends, and conclusions.
2) The paper finds that while Bangladesh has made progress, growth could have been higher if the labor force was utilized more efficiently. GDP growth has averaged around 6-7% annually with steady reductions in poverty.
3) Inflation has generally been high and food-driven. The paper recommends increasing direct taxation through identifying new taxpayers and maintaining money supply growth consistent with commodity growth to control inflation.
Swedbank was founded in 1820, as Sweden’s first savings bank was established. Today, our heritage is visible in that we truly are a bank for each and every one and in that we still strive to contribute to a sustainable development of society and our environment. We are strongly committed to society as a whole and keen to help bring about a sustainable form of societal development. Our Swedish operations hold an ISO 14001 environmental certification, and environmental work is an integral part of our business activities.
Ringkasan: Bab 4 membahas tentang menambahkan animasi, suara, dan video ke dalam presentasi. Termasuk langkah-langkah menambahkan animasi, mengatur animasi agar berjalan secara otomatis, mengatur efek perpindahan slide, menambahkan hyperlink, video, dan suara ke dalam slide.
Welcome to quiz on get up get moving ppiJamie Anker
This document outlines an interactive quiz on active and healthy lifestyles. It contains 11 multiple choice questions about topics like BMI, exercise, diet, sleep, and more. The user selects an answer for each question and receives feedback on whether it is correct or incorrect, with encouragement to try again. If correct, they move on to the next question. The goal is to answer all 11 questions to complete the quiz.
Este documento resume el panorama internacional durante la época del imperialismo entre 1870 y 1914. Durante este período, las potencias europeas como España, Portugal, Inglaterra y Francia se expandieron por África, Asia y el Pacífico, mientras que nuevas potencias como Alemania, Italia, EE.UU. y Japón también se involucraron en la carrera colonialista por estas mismas regiones. El documento luego analiza las causas y consecuencias del imperialismo colonial en las sociedades indígenas y las metrópolis europeas.
Ο πιο συνηθισμένος τρόπος αντιμετώπισης των υφισταμένων όταν πηγαίνουν με προτάσεις για κάποια αλλαγή, για κάτι διαφορετικό από αυτό που γίνεται μέχρι σήμερα στην επιχείρηση ή στον οργανισμό, είναι να δεχθούν ως απάντηση από τον Διευθυντή, Προϊστάμενο μια από τις παρακάτω ερωτήσεις ή απαντήσεις
The :Jeti 3348 UV Jetspeed is now available in a 4 Color
confi guration, featuring 48 Spectra print heads.
Capable of printing fast high quality images at speeds of
2500 sqft/hr (232 m2/hr) in production billboard mode at 300 dpi,
which is perfect for outdoor application.
The :Jeti 5024 with 24 Spectra print heads is unquestionably
the fastest 5.1 m (16’6”) grand-format printer on the market
today. True 600 dpi (1200 apparent) and 6 colors graphics on the
:Jeti 5024 puts it in a class of its own, producing quality that
competes with conventional large format inkjet printers at far
lesser cost.
- FatLoss4Idiots (formerly WeightLoss4Idiots) is a web-based diet program that was one of the most popular diet websites in early 2005 and provides downloadable ebooks and a members website.
- The program claims to help users lose 9 pounds every 11 days through its meal plan of lean proteins, fruits/vegetables, and whole food sources of fat eaten every 2.5 hours, though this rate of weight loss is unrealistic and unsafe.
- The FatLoss4Idiots diet generator provides meal plans that rotate macronutrient ratios and whole foods without calorie counting or portion limits in 11-day cycles with 3-day "cheat" periods in between
The Salvation Army is a Protestant Christian church founded in 1865 in the United Kingdom to provide social services and charity work. It operates in over 120 countries worldwide. The organization runs thrift stores, provides food and clothing to those in need, tutoring programs for children, nursing homes for the elderly, and residential facilities to help young people get back on the right path.
Kajian tindakan dilakukan untuk mengatasi masalah murid dalam menggambar objek tiga dimensi. Guru mengenal pasti masalah, merancang tindakan korektif, melaksanakan tindakan, memerhatikan hasil, dan merefleksikan proses. Model Stephen Kemmis digunakan untuk menjalankan siklus perancangan, tindakan, pemerhatian, dan refleksi sehingga masalah terselesaikan.
The JetSpeed XL is a large format UV printer capable of printing at speeds up to 5,000 square feet per hour. It features 48 print heads and can print on rolls up to 16.5 feet wide. The printer is designed for high productivity and includes features like automatic media loading and adjustable UV lamps. It is well suited for applications like billboards, banners, displays and indoor/outdoor signage.
This document outlines the syllabus for an operating systems course at Chana Technical College in Indonesia. The course will cover the meaning and evolution of operating systems, their components and functions, and resource allocation. Students will learn about scheduling, memory management, file systems, and popular operating systems like Windows 7 and DOS. By the end of the course, students will understand operating systems, their functions and behaviors, and be able to use operating systems. Required materials include textbooks on operating systems and Windows 7. Course materials, resources, schedule, and exam dates are also provided.
This document discusses attention deficit hyperactivity disorder (ADHD) and provides examples of celebrities who have been diagnosed with ADHD, including Will Smith and Jim Carrey. It also summarizes key symptoms of ADHD according to the DSM-IV and notes that Olympic swimmer Michael Phelps and comedian Jim Carrey have both said ADHD impacts them.
This document provides abbreviations for oils used in Catholic rituals: OC represents the Oil of Catechumens, OS represents Holy Oil, OI represents Oil of the Sick, and SC represents Holy Chrism.
1) The report summarizes Bangladesh's economic growth and development, noting that GDP grew 6.5% in 2015. Key sectors driving growth include exports, remittances, agriculture and industry.
2) Challenges to maintaining and increasing growth include inadequate infrastructure like power and ports, governance issues like corruption, rapid urbanization, and lack of export competitiveness.
3) The report outlines recent economic performance and prospects, highlighting continued GDP growth projected at 6.7% in 2016, moderating inflation, and a narrowing trade deficit. Achieving higher growth will require addressing infrastructure deficits and pursuing institutional and policy reforms.
MTBiz is for you if you are looking for contemporary information on business, economy and especially on banking industry of Bangladesh. You would also find periodical information on Global Economy and Commodity Markets.
Current trends in banking sector (2015) EditionIsha Desai
The document discusses current trends in the Indian banking sector. It outlines that banks play an important role in capital formation by mobilizing savings and channeling them into productive investment. It then discusses trends in key sectors such as industry, small businesses, agriculture, e-commerce, and foreign exchange. Recent union budgets have increased caps on foreign investment and recapitalized public sector banks. The Reserve Bank of India helps implement monetary policy and focus development in different sectors. Overall, the banking sector is growing and adapting to increasing technology and customer needs.
This document discusses the impact of an industrial slowdown on credit flow and the quality of small and medium enterprises (SMEs) in India. It analyzes secondary data on credit flow to SMEs from public sector banks in Rajasthan over recent years. The analysis finds that while there was consistent growth in credit to SMEs, the pace increased sharply from 2007-2008. However, the numbers may be inflated due to an expansion in what is included under SMEs in 2006. Despite the global recession, the number of SME beneficiaries in Rajasthan continued growing between late 2008 and early 2009.
This document provides an overview of the Pakistani banking sector in 2013. It contains several articles and interviews on topics related to economics, finance, and banking in Pakistan. The editor's note provides commentary on the State Bank of Pakistan's economic review and monetary policies. It questions whether sufficient monitoring of the financial market has occurred and why credit growth has failed to support SMEs and regional development. The banking sector has shown strong performance but economic growth has been sluggish since 2007. Overall, the document examines issues facing the banking industry and economy in Pakistan.
Entrepreneurship contributes to successful businesses, and maintaining good performance requires managing skills. Data shows varying levels of entrepreneurship across Indonesian provinces. Small businesses are unique due to their planning and structure. MSMEs make up the majority of Indonesian businesses and economic activity, though they face challenges exacerbated by COVID-19, including decreased demand, supply issues, and difficulties distributing products. The government has implemented programs to support MSMEs during this difficult time.
Bangladesh development update economy requires focus on sustainable and incl...Md. Farhad Islam
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Micro Small and Medium Enterprise Funding - Opportunities and ChallengesResurgent India
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Jefferies Lungu Mutuku is a Kenyan man working in Afghanistan who is investing money back in Kenya and creating jobs. He has started businesses in real estate, transport, supplies and agriculture over the last three years. He works with ABC Bank in Kenya to manage his investments and send money home, and appreciates their advice and ability to facilitate transactions as if he was in Kenya. He is happy with the economic growth and stability in Kenya and looks forward to the new government creating more industries, jobs and supporting small businesses and entrepreneurs.
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The document discusses the importance of MSMEs (Micro, Small, and Medium Enterprises) for India's economic growth. It notes that MSMEs contribute significantly to India's GDP, exports, and employment. However, MSMEs face several challenges, particularly lack of access to adequate financing due to their high-risk profile. The document aims to analyze alternative avenues of financing that can help address the demand-supply gap in MSME funding.
The document discusses regional integration in South Asia, highlighting both opportunities and challenges. It notes that South Asia has strong economic growth potential due to its large consumer base and workforce, but faces challenges like poverty, low incomes, and underdeveloped agriculture and industry. To overcome these challenges, the document argues that increased regional trade, investment, and cooperation are needed to create regional value chains and boost development. It recommends adopting economic reforms and improving connectivity to leverage South Asia's resources and drive growth that reduces poverty across the region.
ASEAN has experienced strong economic growth over the past 50 years and is now the fifth largest economy globally. Vietnam in particular has grown rapidly since joining ASEAN, with GDP expected to reach $327 billion by 2022 through 6.2% annual growth. Vietnam has also emerged as a top destination for foreign direct investment in ASEAN due to its competitive labor costs and growing domestic market. Its large, young and increasingly skilled population further supports economic expansion and the development of a sizable middle class.
How Nurturing Entrepreneurs is important for SustainabilityResurgent India
D.S. Rawat, Secretary General of ASSOCHAM, expresses happiness that ASSOCHAM is organizing a conference on nurturing entrepreneurs to promote sustainability. MSMEs are acknowledged as drivers of India's economic growth, and their potential is not yet fully realized. ASSOCHAM has conducted a study with Resurgent India Pvt. Ltd. to provide an overview of the current MSME sector scenario in India and states. Rawat congratulates colleagues on this initiative and thanks partners for supporting the event.
This document provides a literature review on strategies for entrepreneurship development in Bangladesh by unleashing the potential of small and medium enterprises (SMEs). It discusses how SMEs play an important role in employment generation and economic growth. While SMEs in Bangladesh employ many workers, they have not fulfilled their potential to foster entrepreneurship and industrialization. The document reviews global evidence on the relationship between SME development and GDP, and how SMEs can contribute to poverty alleviation. However, SMEs in Bangladesh have performed poorly in terms of growth, diversity and market expansion. The document suggests analyzing successful entrepreneurs and policies to provide recommendations for developing the SME sector in Bangladesh.
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Public Bank Berhad is Malaysia's third largest bank. It has achieved strong financial performance in recent years through competitive strategies such as expanding its retail banking services and digital banking capabilities. The bank faces uncertainties from economic downturns and increased competition in home mortgages. However, through prudent management and by responding flexibly to changes, Public Bank has been able to consistently deliver profit growth and shareholder returns.
1. Overview
Within the commercial banking sector, ABBANK has achieved an amazing growth since the last
5 years, upgraded from a rural bank to an urban bank. ABBANK now has become a prestigious
brand in the Vietnam financial and banking industry. It has an extensive network of 118
transaction offices located in 28 provinces nationwide.
With the support of the Electricity of Vietnam (EVN)- the strategic partner in the country and the
sharing of experience on professional management models of Maybank – the foreign strategic
partner, ABBANK has built up a development plan from now until 2016. ABBANK aims for an
annual growth rate at an average of 35% - 40%.
In recent years, in order to diversify the range of products and services, ABBANK also enhanced
the cooperation with big Vietnamse and international partners such as Agribank, Prudential
Vietnam, Deutsche Bank, EVN SPC, Prevoir VN, Postal Corporation of Vietnam (VNPost),
Telecom Corporation Viettel ....
With the slogan “Provide to solution - Receive the smile", ABBANK stands out in the market
becoming a friendly retail bank. ABBANK takes the customer needs and satisfaction as the core
element of all business activities. At ABBANK, customers are satisfied not only with the product
diversification and flexibility, but also the friendly and professional services.
Vision
An Binh Commercial Joint Stock Bank(ABBANK) is heading toward becoming a leading
commercial bank in Viet nam, operating under the model of universal bank with focus on
retailing banking and adoption of best international practice, extensive application of advanced
and modern technologies with ability to compete with ather local and foreign banks operating in
Vietnam
Mission
Serving the customers with safe, efficient and value added products and services.
Increase benefits for shareholders.
Moving towards the comprehensive and sustainable development of the bank.
Investing in the human resources as the basis for long-term development.
2. Introduction
In recent days the Small and Medium Enterprise (SME) Financing has become an
important area for Commercial Banks in Bangladesh. To align its corporate policy with
the regulation of Central Bank, banks have become more concerned about SME and
opened windows to conduct business in this particular area.
Small and medium enterprises have been recognized as one of the most important means
for providing better economic opportunities for the people of least developing countries
like Bangladesh. A developing economy like that of ours suffers from many peculiar
problems such as disproportionate pressure of population on agriculture due to lack of
rural industrialization, unemployment and underemployment of human and materials
resources, unbalanced regional development etc. The contribution of small and medium
enterprises in the solution of these problems is beyond doubt, provided they are organized
and run on scientific basis.
Small and medium enterprises are particularly suitable for densely populated countries
like Bangladesh where SME sector can provide employment with much lower investment
per job provided. Out of 11% employment of the civilian labor force provided by the
manufacturing sector, about two thirds are estimated to be provided by the small and
cottage industries sector. Again, development of small industries facilitates the effective
mobilization of capital and labor resources. They also help in raising standards of living
of people in rural areas. Contribution of SME sector to GDP remained above 4% during
the period from 1985-86 to 1999-00. Moreover, the present contribution of SME sector to
GDP is approximately 5% and SME sector employs 25% of the total labor forces, thus
this sector is the present available sector for creation of jobs.
The recent private sector survey estimates the contribution of the micro, small, and
medium enterprises (MSMEs) is 20-25% of GDP (Daniels, 2003). While SMEs are
characteristically highly diverse and...
Board of Directors of AB Bank Limited (ABBL) takes immense pleasure in presenting the 25th Annual
Report of the Bank to you. It is also the privilege of the Board to present the audited accounts of the
Bank for the year ended 31st December, 2006 and the Auditors' Report thereon.
Your Bank reached a milestone on 12th of April, 2011 when AB reached 29 years of its journey which
started with a single Branch operation at Karwan Bazar, Dhaka way back in 1982. AB being the pioneer
in private sector banking in Bangladesh will be the first to achieve this milestone. Over the years, your
Bank has contributed in many ways towards development of the private sector banking in the country.
Many of the big industries in different fields of the economy has AB's name attached and your Bank
remains a proud development partner of these industrial houses over the years. AB thrived on customer
service and relationship banking which brought new dimensions to this particular service sector and
many more new entrants to banking sector followed AB.
AB's Sponsors set a vision for the Bank which reads: "To be the Trendsetter for innovative banking with
excellence and perfection". Throughout these 29 years your Bank raised the bar for itself through
services, initiatives, products, customer support and performance towards that visionary path.
3. At the beginning of the year 2005, Board took the mission for the year as "a year of consolidation and
growth". In line with that, year 2006 was identified to be the year of "financial re-structuring and
growth". Sponsors of the Bank remain committed to take AB into next higher level of banking on a
strong financial footing and with appropriate systems and processes in place.
Being a financial institution, your Bank is exposed to the entire gamut of economic developments and
activities both within and outside the country. Hence to start with, we will throw some brief insights in
to the economic scenario of the year 2006.
Global Economy
World economic growth strengthened in the year 2006 as the global gross domestic product (GDP)
registered a growth of 3.9 percent compared to 3.5 percent in 2005. Despite rising oil prices (that
topped $75 a barrel during the course of the year), rising short-term interest rates, and a bout of
volatility of financial market, the global growth accelerated in the overall. This strong global
performance was driven by very rapid expansion in developing economies, which grew by 7 percent -
more than twice as fast as high income countries (3.1 percent). In the overall, 38 percent of the increase
in global output originated in developing countries which far exceeded these economies 22 percent
share in world GDP.
Although broadly based, strong performance by China (10.4 percent growth) played a significant role in
the recent expansion of developing economies which grew by 7 percent. It is of significance that
excluding China and India (8.7 percent growth), developing countries grew by 5.5 percent thereby
playing important roles in the global economic performance.
Fast growth of developing countries over the past five years has been fueled by low interest rates and
abundant global liquidity. This has led to rising commodity prices and over-heating in some high-income
and developing countries. This, in turn, has provoked a tightening of monetary policy that is in part is
responsible for slowdown at the global level towards the later part of the year. However, in most
countries strong productivity growth, due in part to the absorption of China and the former Eastern
Block countries into the global economy, has checked inflationary pressures.
In the United States, the acceleration of industrial output began at a torrid pace of 5.6 percent during
the year. As a result US GDP had a positive growth in 2006. However, responding to higher short-term
interest rates, spending in the housing sector declined and also had a moderating effect on the
consumer demand. This resulted in the slowing down of the economy to 1.6 percent annualized growth
rate in the third quarter of 2006. However, profit, foreign investment and consumption remained robust
while inflation and unemployment remained low. Consequent upon all these factors, US economy is
expected to grow by 3.2 percent as a whole.
European economy also experienced growth in 2006 after several years of weakness. Growth
4. accelerated in the first half of the year as GDP expanded by about 3.3 percent over that period. This is
mostly driven by private consumption and increased investment spending. However, slower growth in
the third quarter for France had an impact on the overall growth but the full year GDP growth in Europe
is estimated to be 2.5 percent.
In Japan, the GDP was estimated to have expanded by 2.9 percent in 2006. A slowdown in exports
contributed to weaker growth in the second quarter of the year, but growth rebounded in the third
quarter led by a surge in investment spending.
High oil prices and the rapid pace of global growth have contributed to a gradual increase in inflation
among developing countries. These countries experienced rising inflation in response to higher oil
prices, but it has since declined, reflecting both solid productivity growth and the impact of more
credible monetary policies. In contrast, in high-income economies inflation rose to about 2.7 percent
from 1.3 percent before falling towards the end of the year matching with the falling oil prices.
In the overall, limited inflationary pressures and high savings among oil exporters and in Europe are
expected to keep long term interest rates low. Moreover, improved fundamentals have boosted growth
rates in many developing countries. All these factors cumulatively suggest the continuation of robust
economic performance in 2007 barring unanticipated reversals.
Bangladesh Economy
Bangladesh economy continued on the growth path in 2006 and achieved a higher growth compared to
the year 2005 mainly driven by a strong post-flood agriculture recovery. Growth was also fuelled by
notable expansion of the manufacturing sector. Economic growth was also aided by strong growth of
exports and remittances from abroad. This is a noteworthy performance in the face of rising oil price,
rise in import costs and also the phase out of the Multi -Fiber Arrangement (MFA). GDP growth was
registered at 6.7 percent in the year 2006.
Growth performance of the economy was led by the post-flood recovery of the agriculture sector which
was 4.5 percent in 2006 compared to 2.2 percent in the year before. Strong growth in crops, horticulture
and fishing were mainly responsible for such growth. At the same time, industrial sector attained 9.6
percent growth during the year which is way above the previous year's growth of 8.3 percent. This
higher growth rate was sustained through strong performances in the manufacturing arena facilitated
by strong and sustained growth in export oriented manufacturing activities and expansion of domestic
demands. In the overall, service sector of the economy grew by 6.5 percent. The growth was fairly
spread in different sub-sectors which in turn were related to increase in industrial out put and increase
in trade related activities.
Structural transformation of economy was aimed at through giving new focus on the development of
the Small & Medium Enterprises (SMEs) sector. A credit line was established in the Bangladesh Bank
with the support of the Asian Development Bank (ADB) and the World Bank (WB), respectively. In the
5. year 2006, SME sector experienced sizeable growth in the field of rice mills, dairy products, knitwear,
leather products, paper and paper products, light engineering, etc.
Country's foreign exchange reserve crossed the US $ 4.0 billion mark for the first time in the history at
the beginning of the year 2007. Present level of reserves covers for over three months of imports of the
country. Exports and remittances from the Non-resident Bangladeshis (NRBs) continued to achieve
strong growth in the year 2006 while import growth slowed down to a sustainable level. Exports grew
21.6 percent to US$ 10,422 million over the previous year. At the same time, remittances by the NRBs
grew by 24.8 percent at US$ 4,802 million. While, total import was registered at US$ 13,301 million
showing a growth of 12.1 percent during the year.
Export earnings achieved more than expected growth in the post MFA situation due to higher export
demand in the US and the European markets. Impressive growth of 35.4 percent was achieved in the
knitwear sector driven by a volume growth of 37.4 percent. Country's export of raw Jute also
experienced significant growth of 54 percent over the year 2005. More significantly, country is gradually
shifting towards a diversified export base. Bangladesh has been included in the "next eleven" a group of
nations having economic growth potential by Goldman Sachs.
Relative slowdown of total import was mainly attributable to the reduced import of food grains, milk
products, spices and most other edible products. However, import of industrial raw materials and capital
machineries increased signifying the dynamism in investment activities in the country. The commodities
whose import payments, however, increased significantly include crude petroleum and POL reflecting
the volatile international market for those.
The overall balance of payments recorded a significant surplus of US$ 365 million (US$67 million in
2005) at the end of the year 2006 reflecting a notable improvement in the current account balance and
a larger surplus in the capital account. Despite noteworthy performance of the external sector, the
foreign exchange market experienced substantial pressure in the year 2006. Pressures on Taka-US Dollar
exchange rate generated by continued price hike for import of petroleum and many other major
commodities coupled with higher growth of lending to the private sector (18.3 percent) created all such
pressure situation. In 2006, the nominal Taka-US Dollar exchange rate depreciated by 8.6 percent in the
overall. However, the real effective exchange rate of Taka depreciated by 5.3 percent providing a boost
to the country's external competitiveness.
Inflation in the economy showed upward trend in 2006. Pressures on consumer prices emerged mainly
through rising import prices of fuel, food items, other consumer items and production inputs feeding
into domestic prices. Depreciation of Taka further contributed to rising consumer prices. The annual
average inflation increased to 7.2 percent in June, 2006.
Bangladesh Bank continued to pursue a restrained monetary policy stance with a view to curb excess
demand from inflationary expectations while supporting the sustainable real GDP growth. During the
year, the Cash Reserve Requirement (CRR) and the Statutory Liquidity Ratio (SLR) were raised from 4.5
6. and 16.0 percent respectively to 5.0 and 18.0 percent towards slowing down of the growth of domestic
credit. Besides, repo and reverse repo interest rates and treasury bills / bond yield rates were kept at an
uptrend towards slowing down the credit growth rate.
Broad money (M2) grew by 19.3 percent during the year which was much higher than 2005 growth of
16.7 percent and far exceeded the projection of 14.3 percent growth. Public sector credit grew
substantially by 30.6 percent mainly to finance higher cost of imports of fuel. Total domestic credit grew
by 21.1 percent, while credit to private sector grew by 18.3 percent reflecting acceleration of economic
activities. The declining trend of interest rates that persisted over a period till year 2005 reversed in
2006 keeping pace with the tightened monetary policy. Country's revenue collection scenario through
the National Board of Revenue (NBR) remains much lower than the projection. Among other factors low
tariff rates on many importable items, lower import volume due to political crisis were mainly
responsible for such a situation.
Despite stronger growth of some macroeconomic indicators, Bangladesh economy faced some
challenges originating from price hike of oil, some imported commodities in the international market
causing fluctuations in real sector and foreign exchange market. As a result, the financial market was
volatile during the year. The call money market was also volatile for a period of time due to increase of
Government borrowing from the banking system for financing higher priced imports. Till December
2006, Government borrowing stood at Taka 63.50 billion. Due to such a development, banks and
financial institutions were forced to mobilize deposit at a higher rate resulting in higher pricing on credit
and forcing restrains, at times.
Overall Banking Sector
Financial sector reforms to strengthen the regulatory and supervisory framework for banks made
headway in 2006 although at a slower than expected pace. Overall health of the banking system showed
improvement since 2002 as the gross Non-performing Loans (NPL) declined from 28 percent to 14
percent while net NPL (less Provision) reduced to 8 percent from 21 percent. This led significant
improvement in the profitability ratios. Although the Private Commercial Banks (PCB) NPL ratio
registered a record low of 6 percent, the four Nationalized Commercial Banks (NCB) position are still
weak and showed very high NPL at 25 percent. The NCBs have large capital shortfalls with a risk-
weighted capital asset ratio of just 0.5 percent (June 2006) as against the required 9 percent. For the
PCBs risk-weighted capital asset ratio stood at 10 percent.
Bangladesh Bank issued a good number of prudential guidelines during the year 2006 and the first
quarter of 2007 which among others relate to (i) rationalization of prudential norms for loan
classification and provisioning, (ii) policy for rescheduling of loans, (iii) designing and enforcing an
"integrated credit risk grading manual", (iv) credit rating of the banks, and (v) revisions to the make-up
of Tier-2 capital.
Besides, recent decision of the Government to corporatize the remaining three NCBs along with the
7. initiative to sale the Rupali Bank are bound to usher in changes in the banking sector competitiveness
aspect. Bangladesh Bank has also taken up the task of implementing the Basel II capital accord. Further,
the recent enactment of the Micro-credit Regulatory Authority Act (MRAA) for the regulation of the
Micro Finance Institutions (MFI) has been a major development in the year 2006.
Since 1998 CAMEL rating of banks gradually improved and in 2006 Bangladesh Bank updated this rating
model by incorporating the market risk and the new model is known as CAMELS.
Capital Market
Bangladesh capital market is still quite small in terms of size compared to countries like India or
Pakistan. Present market capitalization accounts for roughly 6 percent of the GDP. During the first half of
the year 2006, liquidity crises had its affect in the market and towards the end of the year, the market
had to weather unstable and volatile political situation. Besides, relatively higher rates on Government
and bank saving instruments were challenging factors towards expansion of investment in the capital
market. Yet, the market showed remarkable stability in the face of the above. Market capitalization
registered a rapid growth of over 38 percent which was fuelled by entry of 13 new companies and flow
of stock dividends, rights shares among others.
At the end of the year DSE general price index stood at 1609.51 and the all shares price index closed at
1321.39 while CSE general price index stood at 2432.51 and the all shares price index closed at 3724.39.
Future for the capital market looks bright as government is planning to off-load profitable state owned
enterprises. Moreover, enlistment of telecommunication and inclusion of various companies under oil
and gas sector will contribute towards increasing the size of the market.
Economic outlook
The 6 percent plus growth of GDP over the past four years has been underpinned by more market-
oriented economic policies, a dynamic garment sector, and substantial inflow of overseas workers'
remittances. The lead-up to the parliamentary election was generally expected to be rough ride for the
country as a whole and the economy in particular. However, deepening political deadlock culminated
with the declaration of state of emergency in January. The new caretaker Government continued with
the established economic policies and expedited structure and sector reforms. It has taken a broad
agenda of activity, including an extensive anti-corruption drive that it sees necessary to establish better
foundations for the future besides establishing the atmosphere for a truly democratic system to unfurl
in the future.
Economic forecasts for the fiscal year 2007-8 are based on several policy assumptions towards
preserving the macroeconomic stability and ensuring GDP growth of around 7 percent. However, some
of the significant challenges include increased competition, high interest rate environment, rising
inflationary pressure, sustained high global oil price, power shortage etc.
8. The economy has started to come back on track after months of political instability which at times had
the risk of irretrievable consequences. With the economic course outlined in the budget for 2007-8,
Bangladesh should be able to drive full steam towards the desired growth.
Executive summary
Banking sector stocks faced significant correction in the recent past following dividend and earnings declaration for
the year 2010. The tide is against the sector, valuations are high and looming threat of rising delinquencies put the
banking stocks in a tight spot. We find that only a few well‐balanced banks could swim in the troubled water, whereas
others are either challenged by their profit sustainability, asset-liability management, asset quality or capital.
In the year 2010, we experienced many developments in the banking sector. Liquidity crisis and a downward
correcting capital market were key concerns in the financial system. Most of the banks suffered severe liquidity crisis
at the end of the year. Moreover, managing asset quality became a challenge after the recent correction in the stock
market, particularly for banks specialized in consumer and SME banking.
Although we think Q1 2011 bottom line numbers would be challenging for Bangladeshi banks, concerns seem to be
overdone. Despite sharp cut in expectations, banks will be the primary driver of the market’s earnings growth on our
view. Operating income of the banking sector grew by 50% in FY10. However, with regards to YTD the financial
sector has underperformed the DGEN by –26.31%. (Banking sector, –33.53%).Liquidity crisis, credit-deposit ratio and
rising NPAs are the major concerns in this fiscal. We expect NPAs to rise for some banks more exposed to consumer
and SME business. This will not be the scenario for large corporate bankers having relatively strong corporate
balance sheets, well capitalized, broad-based credit growth, better asset quality and management.
This note focuses on listed private sector banks. Our conclusion is that listed banks are likely to underperform over
the next 6 months. In this environment, limited cost flexibility and elevated directed lending are our key concerns. We
initiated coverage on 10 listed banks: AB Bank, Bank Asia, BRAC Bank, The City Bank, Eastern Bank, Islami Bank
Bangladesh Limited, IFIC Bank, National Bank, NCC Bank and Prime Bank. We like Islami Bank for its asset base,
unique franchise concept, management quality and superior operational profile, high Tier 1 ratio, superior margin and
flexibility in managing asset quality risks, and Prime Bank for its strong corporate presence, asset quality, stable
business growth, high capital adequacy and management. Amongst mid size corporate-consumer banks our picks
are Eastern Bank and NCC Bank.
Still