Banglalink has received a Payment Service Provider (PSP) licence from Bangladesh Bank, paving the way for the telecom operator to enter the country's digital payments market with its new service "Mukto Pay".

The licence was issued today (11 August), according to a press release from the leading digital operator.

Mukto Pay is a fully owned Banglalink service that will offer digital payment solutions, including money transfers, merchant and e-commerce payments, utility and government bill payments, salary and other disbursements, as well as other approved payment services.

Banglalink said the service is aimed at making everyday digital transactions simpler, more secure and accessible, particularly for individuals, micro-merchants, and small businesses that are unbanked or underserved by formal financial services.

It said Mukto Pay will leverage Banglalink's nationwide connectivity, customer reach and digital ecosystem to broaden access to digital financial services.

According to Banglalink, the PSP licence is part of the broader strategic vision of the company and its parent, VEON, to invest in and expand digital financial services in Bangladesh.

The milestone marks a significant step in Banglalink's expansion into digital financial services, supporting the transformation of Bangladesh's financial ecosystem, accelerating the country's transition towards a cashless society, and contributing to its ambition to become a $1 trillion economy by 2034.

The move also marks another step in Banglalink's transformation from a telecommunications company into a digital operator, extending its services beyond connectivity into digital and financial services.

Johan Buse, chief executive officer of Banglalink, said, "Bangladesh's journey towards building a cashless society and becoming a trillion-dollar economy will require greater financial inclusion and a digital ecosystem that enables more people to participate in the country's growth. Mukto Pay is an important step in that direction.

"By combining Banglalink's nationwide reach and deep understanding of local customers with VEON's global digital expertise, we aim to make digital payments simpler, more accessible and more relevant to people's everyday lives."

"This licence strengthens our ambition to invest further in digital financial services and contribute to building a more inclusive, cashless and digitally empowered Bangladesh, making a better life for all," he said.

Meanwhile, VEON is also pursuing opportunities in digital banking and has applied for a digital bank licence, according to the press release.

With Mukto Pay, the number of licenced companies or brands operating as payment service providers in the country has risen to 10.

The other nine are iPay Systems Ltd, D Money Bangladesh Ltd, Recursion FinTech Ltd, Green & Red Technologies Ltd, Progoti Systems Ltd, ABG Technologies Limited, Digital Payments Limited, Sheba Fintech Limited, and Shamadhan Services Limited.

Solar Equity Venture has signed an issue management agreement with LankaBangla Investments and Southeast Bank Capital Services Limited to raise capital through an initial public offering (IPO).

The agreement was signed on Sunday in the capital by Ezaz Al Qudrat A Mazid, managing director of Solar Equity Venture; Iftekhar Alam, CEO of LankaBangla Investments; and Md. Mominul Haque, CFA, managing director of Southeast Bank Capital Services Limited, according to a press release.

LankaBangla Investments and Southeast Bank Capital Services Limited will work as joint issue managers. Solar Equity Venture was founded with a clear vision-- to accelerate Bangladesh’s transition toward a clean, resilient, and sustainable energy future, reads a press release.

Building on the extensive experience and proven track record of its sponsor company, Solar EPC Development Ltd., Solar Equity Venture combines renewable energy project development expertise with innovative investment solutions to unlock scalable clean energy opportunities. “Since 2018, our team has successfully developed, financed, engineered, procured, constructed, and managed high-quality solar energy projects across Bangladesh, creating a strong foundation for the company’s next phase of growth,” said Mr Mazid.

“This strategic partnership represents an important milestone in our journey to build a scalable and institutionally structured renewable energy investment platform, mobilise long-term capital, expand our clean energy portfolio, and create sustainable value for investors and stakeholders,” he noted.

“Together, we aim to contribute meaningfully to the growth of Bangladesh’s renewable energy sector and capital market while advancing the country’s clean energy transition,” he added.

Solar Equity Venture believes that by establishing an effective link between renewable energy and the capital market, it will be possible to create new opportunities for domestic and foreign investors to participate in the growth of Bangladesh’s clean energy sector.

Royal Footwear expects its profit to jump by 50-60% if it can utilise the funds raised from the capital market as planned, primarily by repaying bank loans, cutting interest costs, and ensuring a steady supply of raw materials and spare parts.

The 100% export-oriented footwear manufacturer also expects its revenue to grow by 20-30%, as the funds will strengthen its working capital and support production, the company said.

Royal Footwear is raising Tk12 crore through an Initial Qualified Investor Offer (IQIO) on the SME platform. The Bangladesh Securities and Exchange Commission approved the proposal at its 1,020th commission meeting held on 14 July.

As part of the offer, the company will issue 12 lakh shares to qualified investors at a face value of Tk10 each.

Factory running at full capacity

During a recent visit to the company's factory at Tilargati in Tongi, Gazipur, The Business Standard found all three production lines running at full capacity.

The factory manufactures footwear for a host of international brands, including Deichmann, Intersport, Cisaisa, Arena, RedTape, Kappa, Admiral, Furo Sports Shoes, Bata, Bartek, ZXY, CAT, Umbro, Lidl, Fila, LPP and CCC.

Royal Footwear exports its products to markets such as Germany, Italy, Poland, Switzerland, the United States and the United Arab Emirates. It also supplies footwear to ROSS, a leading footwear retailer in the US.

Around 750 workers were engaged in production during the visit. Company officials said the workforce swells to more than 1,200 during the winter season, when the factory runs in two shifts. The company has also set up a training centre for new workers.

Most of the funds to repay loans

According to the approved utilisation plan, Tk8 crore of the Tk12 crore proceeds will go towards repaying bank loans, Tk2 crore towards purchasing raw and packaging materials, Tk1.67 crore towards procuring spare parts, and the remaining Tk33 lakh towards IQIO-related expenses. This means two-thirds of the funds raised will be used to reduce bank debt.

The company expects the repayment to lower interest expenses and ease pressure on cash flow, while spending on raw materials and spare parts will help maintain uninterrupted production.

Royal Footwear Chairman Md Zakir Hossain Patwari said the capital market funds would strengthen the company's financial position and support production.

"Repaying a significant portion of our bank loans will reduce interest expenses. At the same time, ensuring adequate supplies of raw materials and spare parts will reduce the risk of production disruptions," he said.

The company expects these measures to boost profit by 50-60%, though actual growth will depend on production, export performance, interest expenses and international market demand.

Revenue may rise 20-30%

Company officials said the funds would improve working capital availability and production efficiency. While production capacity is not expected to grow at the same pace as profit, revenue could rise by around 20-30%, they said.

Royal Footwear currently runs three production lines and plans to set up a second production unit on 206 decimals of land in Ashulia.

The new unit is expected to boost production capacity, allowing the company to meet growing demand from existing buyers while taking on orders from new international customers.

Buyer requirements behind listing

According to company management, the decision to enter the capital market was driven not only by the need for funds but also by the requirements of international buyers.

European buyers are increasingly focusing on corporate governance, transparency, compliance and accountability alongside product quality, pricing and production capacity, the company said.

Officials said several international buyers had encouraged Royal Footwear to go public, noting that stronger governance and compliance standards can, in some cases, help suppliers secure larger orders from global buyers.

Patwari said the listing would strengthen the company's transparency, accountability and corporate governance, and help build greater confidence among international buyers.

Second fundraising attempt

Royal Footwear had initially applied for a similar fundraising proposal in 2024 but later withdrew it, citing political uncertainty, a slowing economy and an unfavourable business environment.

With the business environment now improving, the company has revived its fundraising plan.

Established in 2014, Royal Footwear currently exports footwear to several international markets and manufactures products for multiple global brands.

The company now plans to use capital market financing to cut financial costs, strengthen production capacity, meet international buyer requirements and expand its export business.

Marico Bangladesh Limited, the producer of the popular Parachute brand, reported a 12.38% year-on-year decline in net profit for the April-June quarter of 2026, marking the first time the company has faced a quarterly earnings slump in four years.

According to its latest financial statements, the company's net profit for the quarter stood at Tk170.47 crore, down from Tk194.56 crore in the corresponding period of 2025.

This downturn comes despite a 4% growth in revenue, which reached Tk531.86 crore during the same period. The last time the multinational witnessed a contraction in its first-quarter profit was in 2022.

The company reported that its earnings per share (EPS) settled at Tk54.12 for the quarter, compared to Tk61.77 a year earlier.

Management attributed the profit squeeze primarily to a sharp rise in raw material prices and a decrease in finance income. Additionally, the net operating cash flow per share (NOCFPS) plummeted to Tk20.28 from Tk66.73, which the company explained was due to significantly higher payments made to suppliers during the three-month period.

Meanwhile, the company's net asset value (NAV) per share rose to Tk146.14 as of 30 June 2026, up from Tk92.02 in March, bolstered by a strong retained earnings position.

Despite the earnings dip, the board of directors declared a substantial 500% interim cash dividend, equivalent to Tk50 per share. The record date for the dividend entitlement has been set for 27 August.

Market analysts noted that while rising input costs remain a challenge for the manufacturing giant, the hefty dividend payout reflects the company's robust cash reserves and continued commitment to shareholder returns.

The listed banking sector posted a sharply divided performance in the first half (January-June) of 2026, as robust treasury returns buoyed strong performers while mounting non-performing loans and high deposit costs pushed several major lenders into deep losses.

Out of the 36 banks listed on tyhe stock exchanges, 14 posted a surge in net profit year-on-year, five experienced profit declines, and six incurred massive losses.

Meanwhile, trading remains suspended for five banks that are undergoing merger processes with Sammilito Bank, while another five lenders have yet to release their financial statements.

Industry insiders attributed the profitability growth among top performers largely to lucrative investment income generated from government risk-free securities.

However, the broader sector continues to wrestle with a tough macroeconomic environment characterised by elevated interest rates, a sluggish economy, and muted private sector credit growth.

Top earners capitalise on yields and growth

BRAC Bank emerged as the top earner in H1 2026, logging a consolidated profit of Tk1,423 crore, reflecting a massive 57% year-on-year growth. Pubali Bank secured the second spot with Tk685 crore in profit (up 19%), followed by City Bank with Tk527 crore (up 75%), Dutch-Bangla Bank with Tk442 crore (up 319%), and Eastern Bank with Tk439 crore (up 25%).

Speaking to The Business Standard, BRAC Bank Managing Director and CEO Tareq Refat Ullah Khan said the bank currently manages a combined fund of nearly Tk1.70 lakh crore across deposits and assets.

"Our portfolio is expanding every year," Khan said. "Over the past year, our deposits grew by nearly 25%, surpassing Tk95,000 crore, while assets expanded around 18% to cross Tk76,000 crore – achieving growth well above the market average."

He added that operational efficiency improved significantly, trimming the bank's cost-to-income ratio from 48% to 42%, while its non-performing loan (NPL) ratio declined to 2.03% from 2.27% over six months.

City Bank similarly attributed its sharp profit rise to strong investment yields alongside healthy growth in commission and fee income.

Other banks recording profit increases during the period include Jamuna Bank, SBAC Bank, NCC Bank, Uttara Bank, NRBC Bank, Southeast Bank, Midland Bank, United Commercial Bank, Shahjalal Islami Bank, and NRB Bank. Conversely, profits dropped at One Bank, Mutual Trust Bank, Standard Bank, Bank Asia, and Trust Bank.

Suspense income and bad loans squeeze bottom lines

On the flip side, six lenders reported severe consolidated net losses, led by National Bank with a loss of Tk2,286 crore. AB Bank followed with Tk1,936 crore in loss, IFIC Bank at Tk1,668 crore, Islami Bank at Tk1,316 crore, Rupali Bank at Tk640 crore, and Premier Bank.

National Bank explained in its disclosure that its deficit stemmed from an inability to recognise interest income on delinquent and rescheduled loans with grace periods, even as deposit interest obligations remained fixed.

Islami Bank Acting Managing Director Md Altaf Hossain noted that a large non-income-generating investment exposure to a major group hit earnings, as Shariah rules mandate holding unrealised yields in suspense accounts rather than recognising them as income. He added that future recoveries could significantly reverse the bank's fortunes.

United Finance PLC has reported a stellar start to the 2026 financial year, with its net profit surging by 55.48% during the first half ended 30 June.

According to the company's financial results released on Wednesday, the non-bank financial institution earned a net profit of Tk5.03 crore in the January-June period, up from the corresponding period of the previous year.

The significant bottom-line growth pushed the company's earnings per share to Tk0.27 for the six months, compared to Tk0.17 in the first half of 2025. This robust performance was further highlighted by a 67% year-on-year increase in operating profit before provision, driven primarily by strong growth in net interest income and disciplined cost management.

In terms of business volume, United Finance recorded a steady expansion in its total portfolio, which reached Tk2, 349 crore. The company's lease, loan, and advance segment grew by 4.26%, while its deposit portfolio stood at Tk1, 465 crore – marking an 11.12% growth against December 2025. This double-digit growth in deposits reflects increasing customer confidence in the institution despite broader macroeconomic challenges.

United Finance has also positioned itself as a leader in sustainable banking. In the first half of 2026, a staggering 81% of its total disbursements were channelled into green and sustainable financing, significantly exceeding the targets mandated by the Bangladesh Bank.

On the technological front, the company's mobile app, UMA, has continued to streamline the customer journey through fully paperless services, including account opening and instant certificate downloads.

Commenting on the results, Mohammed Abul Ahsan, acting managing director of United Finance, attributed the performance to the company's "prudent risk management DNA and solid corporate governance."

He noted that these core strengths have allowed the firm to remain resilient and perform consistently even under macroeconomic stress.

US-Bangla Airlines yesterday announced the acquisition of 21 new Boeing aircraft in a deal worth about $1.5 billion, calling it “one of the most significant fleet expansion programmes in the country’s aviation history.”

The announcement was made at an event titled “Beyond with Boeing” at the Sheraton Dhaka.

The new fleet will include 15 Boeing 737-8 aircraft and six Boeing 737-800 aircraft. All are scheduled to be delivered in phases by the end of 2027 under a leasing programme.

In a statement, the private airline said the expanded fleet would allow it to launch flights to several new destinations, including Bengaluru and Hyderabad in India; Colombo in Sri Lanka; Kathmandu in Nepal; Kunming, Shenzhen and Beijing in China; Johor Bahru and Penang in Malaysia; destinations in South Korea and Japan; Kuwait; Bahrain; Madinah and Dammam in Saudi Arabia; and Salalah in Oman.

“This investment represents much more than fleet expansion. It reflects our long-term vision to transform US-Bangla from an airline into a fully integrated global aviation group. We are investing in aircraft, people, technology, training, maintenance, cargo, catering and infrastructure to support the sustainable growth of Bangladesh’s aviation sector,” said Mohammad Abdullah Al Mamun, managing director of US-Bangla Group and US-Bangla Airlines.

Mamun said foreign airlines still carry nearly 70 percent of passengers on Bangladesh’s international routes, indicating a significant opportunity for the country’s aviation industry.

United States Ambassador Brent T Christensen described the announcement as a historic milestone and called Boeing Bangladesh’s “best business case”.

“Perhaps even more important is the investment in people. US-Bangla’s plan to send about 200 Bangladeshi pilots to the US for advanced training represents an investment in the next generation of aviation professionals,” he said.

“Today’s ceremony also highlights something larger: the growing economic relationship between the US and Bangladesh. American companies offer innovation, technology, high-quality products and long-term partnerships. Bangladeshi companies likewise offer entrepreneurial spirit, determination and a vision for growth,” the ambassador added.

Humaiun Kobir, the prime minister’s foreign affairs adviser, spoke about the challenges facing the aviation sector. He said the industry was seeking tax relief and pledged the government’s financial support.

Rashiduzzaman Millat, state minister for civil aviation and tourism, said that with the opening of the third terminal at Dhaka airport, Bangladesh aims to serve 24 million passengers a year.

He added that Biman Bangladesh Airlines is expanding its fleet with 14 new Boeing aircraft. The growth of both airlines will strengthen the country’s aviation industry and improve services for passengers at home and abroad.

Air Vice Marshal Md Mostafa Mahmood Siddiq, chairman of the Civil Aviation Authority of Bangladesh, said increasing the share of Bangladeshi airlines in the country’s passenger traffic is one of the government’s national priorities.

Paul Righi, vice-president of sales and marketing for Eurasia, India and South Asia at Boeing, also spoke at the event.

Berger Paints Bangladesh has decided to invest Tk20 crore in the ordinary share capital of its wholly owned subsidiary, Jenson & Nicholson (Bangladesh) Limited, according to a disclosure published on the stock exchanges today (29 July).

Jenson & Nicholson manufactures metal containers for the paint, food and other industries. Established in Bangladesh in 1995, the company operates manufacturing facilities in Chattogram and Dhaka.

Over the years, it has expanded its product range from paint containers to lubricant, engine oil, hair oil and food-grade containers. The company has also entered the fancy container segment, becoming the first manufacturer of such containers in Bangladesh, according to Berger

Paints' website.Berger Q1 profit doubles

Separately, Berger Paints reported a 111% year-on-year jump in consolidated net profit for the April-June quarter, driven by higher sales, strategic price adjustments, lower finance costs and tax-related gains.

The company's revenue rose 15% to Tk814.19 crore in the first quarter of 2026 from Tk708.73 crore a year earlier.

Net profit after tax climbed to Tk180.77 crore from Tk85.69 crore, while earnings per share (EPS) increased to Tk36.81 from Tk18.11.

In its financial statement, Berger said the sharp rise in EPS was mainly due to higher sales, price adjustments to offset rising raw material and packaging costs, and lower interest expenses on UPAS loans.

The company also attributed the earnings growth to a lower effective tax rate and favourable adjustments to tax liabilities recognised in the previous year following the enactment of the Finance Act 2026.

The National Bank PLC has reported a staggering consolidated net loss of Tk2,286 crore for the first half (January-June) of 2026, as the lender continues to grapple with non-recovery of loans and a deepening capital crisis.

According to the bank's latest financial statements filed on the Dhaka Stock Exchange (DSE), the loss for the first six months of 2026 has more than doubled compared to the same period last year.

The bank's consolidated earnings per share (EPS) for the first half of the year plummeted to negative Tk7.10, a sharp decline from the negative Tk3.06 recorded in the corresponding period of 2025. The second quarter (April–June) alone accounted for a loss per share of Tk3.58.

The financial health of the bank has reached a critical stage, with its consolidated Net Asset Value (NAV) per share dropping to negative Tk14.49 as of 30 June 2026. This is a significant deterioration from the negative Tk1.91 reported a year earlier, indicating that the bank's liabilities far outweigh its assets.

In its disclosure to the stock exchange, the bank explained that the massive loss is primarily due to its inability to recognise interest income on a vast portion of its loan portfolio.

This includes loans that have been rescheduled with grace periods and delinquent loans where no cash recovery was made. Meanwhile, the bank remained obligated to pay interest on deposits and borrowings, leading to a massive operating deficit.

Lifeline through real estate

In a bid to alleviate the ongoing financial distress, National Bank has recently received special authorisation from Bangladesh Bank to commercially rent out one of its "Twin Tower" buildings currently under construction at the Karwan Bazar intersection in the capital.

Originally intended for the bank's own use, the central bank exercised its special powers to allow the commercialisation of the property. Under the revised plan, one of the towers will serve as the bank's corporate headquarters, while the other will be leased out to commercial tenants.

Bank officials expressed hope that the rental income would provide a steady cash flow to help stabilise the institution's fragile balance sheet.

RAK Ceramics (Bangladesh) Limited staged a turnaround in the first half (January-June) of 2026, returning to profit with Tk2.28 crore in earnings after posting a Tk21 crore loss in the same period a year earlier.

According to price-sensitive information disclosure published on the company's website today (26 July), the ceramic tile manufacturer reported earnings per share (EPS) of Tk0.05 for the first six months of 2026, compared to a negative EPS of Tk0.49 a year earlier.

The company attributed the turnaround to changes in income tax regulations, lower depreciation costs, and improved production following a recovery in gas supply.

Revenue also increased 21% year-on-year to Tk374 crore during the January-June period, up from Tk310 crore in the same period of 2025.

The company said improved gas pressure helped increase production, while higher sales volume contributed to revenue growth. Lower depreciation costs also helped raise its gross profit margin to 19.24%, from 14.97% a year earlier.

In the second quarter (April-June) of 2026, RAK Ceramics recorded sales of Tk199 crore, compared to Tk163 crore in the same quarter last year.

The company posted a quarterly net profit of Tk7.85 crore, reversing a net loss of Tk18.50 crore in the April-June period of 2025.

As of 30 June 2026, the company's net asset value (NAV) stood at Tk645 crore, with NAV per share at Tk15.08, compared to Tk15.73 a year earlier.

Trust Bank PLC reported a consolidated net profit of Tk119.33 crore in the first half of 2026, down 11.81% year-on-year, according to the bank's price-sensitive information.

The bank's earnings per share (EPS) stood at Tk1.20 during the January-June period, compared with consolidated net profit of Tk135.32 crore in the same period a year earlier.

On a solo basis, the bank's net profit stood at Tk123.78 crore in the first half of 2026, down from Tk139.64 crore in the corresponding period of 2025.

In the second quarter, covering April-June, Trust Bank's consolidated net profit stood at Tk92.38 crore, down around 13% from Tk105.94 crore in the same quarter a year earlier.

The bank's consolidated net operating cash flow per share stood at Tk23.13 in the first half of 2026, compared with Tk26.43 in the January-June period of 2025.

Its net asset value (NAV) per share increased to Tk30.06 as of June 2026, from Tk27.04 a year earlier.

At the Dhaka Stock Exchange, Trust Bank shares closed at Tk15.70 each today (26 July), down 0.63% from the previous trading session.

In 2025, Trust Bank reported a profit of Tk372.32 crore.

Based on its 2025 profit, the bank recommended a 13% dividend for shareholders, comprising an 8% cash dividend and a 5% stock dividend.

Walton Hi-Tech Industries PLC, one of Bangladesh’s leading electrical and electronics manufacturers, has signed a global distributorship agreement with Libya-based ASR Al Techniyah to expand its presence in North Africa.

Under the three-year agreement, ASR Al Techniyah, a private company registered in Tripoli, will serve as Walton’s authorised distributor, overseeing the sales, marketing and distribution of Walton products across Libya.

According to a company disclosure filed with the Dhaka Stock Exchange (DSE), the partnership aims to introduce Walton’s range of home appliances and electronics to Libyan consumers under mutually agreed terms.

The agreement marks another step in Walton’s strategy to strengthen its international presence by taking “Made in Bangladesh” technology to new markets.

Under the deal, ASR Al Techniyah will market and sell Walton-branded products, including refrigerators, televisions, air conditioners and washing machines.

Abdur Rouf, head of Walton Global Business Division, said the company’s innovative technology, modern designs, product quality, durability, energy efficiency, eco-friendly features and competitive pricing have helped it stay ahead of rivals in overseas markets.

He said the brand has gained consumers’ trust in many countries, with its presence now spanning 55 markets, including Libya.

Rouf added that Walton has already exported two shipments of refrigerators, air conditioners, televisions and washing machines to Libya this year. The company expects the expansion to support its entry into other North African markets.

Walton’s share price rose 0.16 percent on the DSE yesterday.

In fiscal year 2024-25, the company posted revenue of Tk 7,082 crore, down from Tk 7,512 crore a year earlier. Profit after tax also fell to Tk 1,036 crore from Tk 1,356 crore.

Foodpanda Bangladesh’s losses rose 40 percent to €11.76 million last year, extending a losing streak that now stretches back a full decade, according to parent company Delivery Hero’s annual financial statements.

The Bangladesh operations of the German company comprise four entities: the core food delivery business; the quick-commerce arm Pandamart; cloud kitchen unit DH Kitchens; and a holding company, Jade 1343 GmbH & Co Vierte Verwaltungs KG.

Together they have lost €110.66 million since 2016 and have yet to turn a profit in any year, the statements show.

Food delivery accounts for the largest share of that total, with cumulative losses of €79.22 million. Its losses widened 65 percent last year to €7.14 million, accounting for over 60 percent of the group’s total loss.

Among the other entities, Pandamart logged a loss of €2.27 million last year, reaching a total of €20.27 million since its launch in 2020. DH Kitchens narrowed its losses by 15 percent to €0.34 million, with €2.28 million lost since 2020. Jade 1343 lost €2.01 million last year, taking its cumulative losses since 2021 to €8.89 million.

THE UBER DEAL

Foodpanda has yet to turn a profit in Bangladesh since entering the market in 2013. Its decade of losses now intersects with Uber’s $13 billion acquisition offer for Delivery Hero, announced last week.

The logic behind the deal, according to Uber, is to cross-sell by gaining access to takeaway customers in markets where it offers rides but not food, such as South Korea and the Middle East, and converting them into users of both.

Uber reckons that its cross-platform users generate roughly three times the gross bookings and higher profits than single-product users.

But in the case of Bangladesh, Uber exited the food delivery business within 14 months in June 2020 after failing to gain any ground despite considerable cash burn in the intensely competitive market.

There are two possible scenarios regarding the acquisition, said AKM Fahim Mashroor, former president of the Bangladesh Association of Software and Information Services. One possibility is that Uber retains the Foodpanda brand and the business continues to operate largely as it does now, he said.

The other scenario is that Uber discontinues the brand altogether, said Mashroor, also the chief executive officer of BDjobs.com. “Since Bangladesh is not a particularly lucrative market, that is also a real possibility -- everything could change.”

Meanwhile, responding to queries from The Daily Star, Foodpanda Bangladesh said it is yet to receive any indication of changes to its operations following the acquisition announcement.

“Nothing changes today. Any organisational decisions and specific branding decisions will be worked through after closing, which is expected in the second half of 2027,” the company said in a statement.

“Bangladesh is one of Delivery Hero’s most dynamic markets, possessing immense potential for long-term growth. Our focus and investments over the last decade have been dedicated to building cutting-edge technology, empowering communities economically and fostering ecosystem development for customers and partners,” the company added.

Uber did not respond to The Daily Star’s request for comment.

Akij Group has entered Bangladesh’s commercial helicopter market through its subsidiary Akij Aviation Limited, launching charter operations with three helicopters.

The fleet comprises a Bell 505 for patient transportation and two Robinson R66 helicopters for passenger services, according to Air Commodore (retd) Md Mamunur Rashid, chief executive officer of Akij Aviation.
Rather than operating on fixed routes, the company will provide charter services based on customer demand, covering corporate and business travel, tourism, industrial purposes, personal trips and medical emergencies, he said.Akij Aviation previously used its helicopters to transport executives, doctors and patients between the group’s factories and hospitals. It has now opened the fleet to commercial charter services to help offset operating and maintenance costs.

The move comes as demand for helicopter services has grown among industrialists and businesspeople for business travel and emergencies, according to Mamunur.

Helicopters are also used for rescue operations in remote areas, transportation of critically ill patients, urgent travel, political events, weddings, media coverage, and film and television shoots, he said.

Bangladesh currently has 10 helicopter operators with a combined fleet of about 23 helicopters, according to the CEO.

However, the sector has struggled with high operating costs, forcing several operators to shut down over the years, he said.

“Running a helicopter business is expensive. Hangar rent, electricity, utilities, maintenance, spare parts and tools all cost a great deal,” Mamunur said.

Private helicopter operators also do not receive some of the incentives available to state-owned carriers, particularly on aviation fuel, making it difficult to sustain operations, he added.

Beximco Aviation and R&R Aviation have already ceased operations, according to him.

Akij Aviation said its commercial operations would help cover the cost of maintaining its fleet while supporting its medical transportation services.

Mamunur said patient transportation, particularly emergency medical evacuation involving Akij’s hospitals, remains the company’s primary objective.

“Our goal is to ensure quick transportation for critically ill patients. We are not entering this business to maximise profits,” he said.

The company is also providing a free air ambulance service for poor and underprivileged people in Khulna division who require emergency medical care, according to him. The service is being run under the supervision of the Ad-din Foundation.

Helicopter use has also expanded beyond corporate clients in recent years, with more families opting for charter flights for weddings and other social occasions.

The country’s existing operators are South Asian Airlines, Square Air, Bashundhara Airways, Impress Aviation, Meghna Aviation, Partex Aviation, BCL Aviation, Bangla International Airlines, BRB Air and ATL Aviation.

Premier Bank PLC, a private sector lender, incurred a consolidated loss of Tk388.77 crore in the first half of 2026 as declining interest income and higher funding costs weighed on its financial performance.

The bank reported a loss per share of Tk3.15 for January-June 2026, according to its quarterly financial statements.

The losses widened significantly compared with the same period last year, when the bank posted a consolidated loss of Tk136.56 crore.

The bank's net interest income turned negative at Tk315.85 crore during the first half of 2026, meaning its expenses on deposits and borrowings exceeded income generated from investments.

Its investment income and other operating income declined during the period compared with the previous year. However, income from commission, exchange and brokerage activities showed a slight improvement

Premier Bank's consolidated net asset value stood at Tk1,288 crore at the end of June 2026, down from Tk2,532.84 crore in June 2025.

The bank's net operating cash flow per share improved to Tk9.75 in the first half of 2026, compared with a negative Tk7.64 during the same period last year.

Explaining the decline in net asset value, the bank said it resulted from increased operating losses. The improvement in cash flow per share was mainly due to higher borrowing from other banks and financial agents.

Premier Bank incurred a loss of Tk992.59 crore in 2025, with a loss per share of Tk8.05. Due to continued losses, the bank has not paid dividends to shareholders.

The bank's shares closed at Tk5.30 each on the Dhaka Stock Exchange today (23 July).

Consumer electronics and home appliance manufacturer Singer Bangladesh Limited returned to quarterly profitability in the second quarter of 2026, supported by improved operating performance and lower finance costs.

However, the company remained in losses during the first half of the year as weak consumer demand, higher costs and challenging market conditions continued to affect its overall performance.

According to a price-sensitive information (PSI) disclosure published today (23 July), Singer's board approved its unaudited financial statements for the quarter ended 30 June 2026.

The company reported earnings per share (EPS) of Tk1.36 for the April-June quarter, recovering from a loss per share of Tk3.11 during the same period last year.

For the January-June period, Singer posted a loss per share of Tk4.24, though the loss narrowed from Tk6.61 recorded in the same period of 2025.

Singer's share price closed at Tk76.90 on the Dhaka Stock Exchange today.

The company's net asset value per share turned negative at Tk2.55 as of 30 June 2026, compared with a positive Tk1.69 at the end of December 2025. Meanwhile, net operating cash flow per share declined to Tk5.49 in the first half of 2026 from Tk12.52 a year earlier.

Singer said its second-quarter revenue increased 3.4% year-on-year to Tk8.4 billion, up from Tk8.1 billion in the same quarter last year. However, sales remained below expectations due to weak demand in the consumer electronics market.

The company attributed the slowdown to persistent inflation, geopolitical uncertainty and unfavourable weather conditions that reduced consumer spending.

Although gross profit margins improved slightly, intense price competition prevented the company from fully passing higher costs on to customers.

Operating profit increased 10.7% year-on-year, helping Singer achieve a pre-tax profit of Tk140.8 million in the second quarter, compared with a pre-tax loss of Tk279.1 million in the same period last year.

Finance costs also declined 35.8%, mainly due to exchange rate stability.

Despite the quarterly recovery, Singer faced pressure on working capital. Inventory increased 9.2% as sales remained below expectations, while short-term borrowings rose 19% from December 2025.

Trade receivables surged 77.1% due to higher dealer credit sales and slower collections amid weak economic activity.

Singer said its operating cash flow was affected by dealer financing, seasonal business patterns and extended credit facilities. The company expects cash flow to improve from the third quarter as business conditions recover.

The Bangladesh Bank (BB) has allowed National Bank to lease out its under-construction Twin Tower building in Dhaka’s Panthapath area, which was originally planned to become the private lender’s headquarters.

In a notification issued yesterday, the central bank said it has exempted the bank from the relevant provision of the Bank Companies Act until 2031, allowing it to lease the property.
The NBL Twin Tower was intended to become the bank’s head office. As per the law, such a building cannot normally be leased out.However, after years of losses, National Bank received the special facility, which is expected to support the efforts to improve its financial position.The bank has posted losses every year since 2022. Its accumulated losses reached nearly Tk 8,900 crore, driven by a high volume of non-performing loans and financial irregularities.National Bank began construction of the 12-storey Twin Tower in Panthapath nearly a decade ago after the Sikder family, owners of the Sikder Group, took control of the bank in 2009. The family has faced allegations of financial irregularities, including approving loans in breach of rules and regulations.Construction was suspended for several years after a 2015 accident in which the shore pile bracing and retaining wall collapsed.

According to the bank’s financial statements, work resumed in 2020 after the necessary approvals were secured from the relevant authorities.The structural work on both towers has now been completed up to the 12th floor. The bank said the 11kV electricity connection had already been installed.

It added that approval has also been obtained for water and sewerage connections.According to the bank, the floor plans and layouts have been completed, while network installation and internal power connection work are under way. It said the interior decoration of the second floor of one tower has already been completed, and the Card Division and several other divisions would be moved there soon.

National Bank posted a loss of Tk 2,431 crore in the 2025 financial year, up 42 percent from about Tk 1,700 crore a year earlier, according to its financial statements.The Daily Star sought comment from the bank’s Managing Director Adil Chowdhury, but he did not answer phone calls or respond to messages.

Deltaport Footwear Ltd, a joint venture of Italian and Irish investors, will invest $21.60 million to set up a footwear manufacturing plant at the Bepza Economic Zone in Mirsharai, Chattogram, run by the Bangladesh Export Processing Zones Authority (Bepza).

The plant will produce around three million pairs of shoes a year, including injected and cemented footwear, as well as casual, formal, ladies’ and safety shoes, creating jobs for 468 Bangladeshi nationals.

The company expects annual export earnings of about $37.5 million, targeting markets in Italy, Europe, the UK, the US and Colombia. The company signed a land lease agreement with Bepza on June 30 at the Bepza Complex in Dhaka, according to a press release.

Md Tanvir Hossain, executive director for investment promotion at Bepza, and Junaid Iqbal Umerani, chief executive officer of Deltaport Footwear, signed a deal in this regard at a programme attended by Mohammad Moazzem Hossain, executive chairman of Bepza.

Welcoming the investment, Hossain said Bepza was continuously enhancing its infrastructure and services to offer investors a more convenient, modern and business-friendly environment.

Deltaport’s CEO said this was his company’s third investment in Bangladesh, all within Bepza-administered zones, adding that Bangladesh was the most attractive investment destination among the countries considered, including India and Vietnam.

The Bangladesh Securities and Exchange Commission (BSEC) has approved Royal Footwear PLC's proposal to raise Tk12 crore through an Initial Qualified Investor Offer (IQIO) on the SME platform, marking the regulator's first approval for SME fundraising in more than two years.

The approval came at the commission's meeting held at the BSEC headquarters today (14 July).

The 100% export-oriented footwear manufacturer will issue shares under the fixed-price method and use the proceeds to expand its operations, strengthen its business, and meet growing export demand.

According to the approved utilisation plan, Tk8 crore will be used to repay bank loans, Tk2 crore to purchase raw and packing materials, Tk1.67 crore to procure spare parts, and the remaining Tk0.33 crore will cover expenses related to the IQIO.

Royal Footwear exports shoes to several international markets, including supplying products to the renowned US footwear retailer ROSS.

For the issue, Prime Bank Investment PLC has been appointed as the issue manager, while Prime Bank Investment PLC and EC Securities Limited will act as the underwriters.

The approval signals a gradual revival of fundraising through the SME capital market, where new public offerings had stalled for more than two years.

Royal Footwear had initially applied for the same fundraising plan in 2024 but later withdrew its IQIO proposal, citing political uncertainty, a slowing economy, and an unfavourable business environment for expansion.

With the business environment showing signs of improvement, the company has revived the plan to support capacity expansion and capitalise on growing export opportunities.

Royal Footwear shares some common directors with Al-Madina Pharmaceuticals PLC, an SME-listed company that raised Tk5 crore through the SME platform in February 2023. Al-Madina declared a 12% cash dividend for shareholders for FY25.

According to the company, incorporated in 2014, the decision to enter the capital market is aimed at expanding operations while strengthening corporate governance and compliance standards. Management said several international buyers have encouraged the company to become publicly listed, believing it would enhance governance, transparency, and compliance with global standards.

Royal Footwear primarily exports to European and Asian markets, where demand for its products has continued to grow. Management also views capital market financing as a more sustainable long-term funding source than relying heavily on bank borrowing.

According to the company's audited financial statements for the year ended 31 December 2025, the net asset value (NAV) per share, including revaluation, stood at Tk27.54, while the NAV per share without revaluation was Tk15.74. Its earnings per share (EPS) for the half-year stood at Tk0.82.

For FY2024-25, Royal Footwear reported revenue of Tk52.91 crore, slightly higher than Tk52.34 crore in the previous fiscal year. However, profit after tax declined to Tk2.78 crore from Tk3.19 crore a year earlier, while EPS fell to Tk0.82 from Tk0.94. The company's NAV per share, including revaluation, stood at Tk27.54.

Advanced Chemical Industries (ACI) PLC has decided to invest Tk700 crore in its subsidiary, ACI Logistics Limited, which operates under the retail brand Shwapno.

The investment decision was approved at a meeting held today (14 July), according to company sources.

As part of the investment, ACI will subscribe to 70 lakh convertible preference shares of ACI Logistics, each with a face value of Tk1,000. The investment is expected to be completed by 15 October of the current year.
The move is expected to strengthen ACI Logistics' capital base and support the continued expansion of its retail operations under the Shwapno brand, according to the company's statement.