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.

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.

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.

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.

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.

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.

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.

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).

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.

The Bangladesh Bank (BB) has allowed Shinepukur Ceramics, a defaulting company of Beximco Group, to open letters of credit (LCs) for raw material imports under a special arrangement.

In a notification issued yesterday, the central bank said the move is meant for keeping production running at the ceramics manufacturer and protecting its workforce.

Under the arrangement, Shinepukur Ceramics can now open import LCs with Sonali Bank PLC by depositing a 100 percent margin, meaning the company will have to pay the full import value in advance.

The facility will remain in place until December next year.

Under Section 27 Ka Ka (3) of the Banking Companies Act, banks and financial institutions are barred from extending any loan facility to a defaulting borrower. With yesterday’s circular, the BB has exempted Shinepukur Ceramics from this provision for 18 months.

As a condition of the approval, the central bank said all revenue earned by the company must be deposited into a designated bank account. Sonali Bank will recover its outstanding dues from that account on a proportionate basis.

However, the government and the central bank will not assume any responsibility for the loan facility provided to support the opening of the import LCs, according to the notification.

As a result, Sonali Bank will not be able to seek any financial assistance from the government or the BB for those loans in future, the central bank said.

Earlier this month, the BB granted a similar facility to Abdul Monem Sugar Refinery Ltd, another defaulting borrower, allowing it to continue opening import LCs.

Jenson & Nicholson Packaging Ltd, an affiliate of Berger Paints Bangladesh, will invest $13.7 million in the National Special Economic Zone (NSEZ) under a land lease agreement signed with the Bangladesh Economic Zones Authority (Beza) yesterday.

The company will set up its manufacturing facility on 6.34 acres of land and is expected to create around 600 jobs, according to a press release.

The plant will produce high-quality rigid plastic pails, industrial paint containers, food-grade packaging, metal packaging and other products to strengthen Berger Paints’ backward linkage.

Berger Paints had earlier been allocated 40 acres in the same economic zone, where commercial production is expected to begin within the next two months.

Speaking at the signing ceremony, Saleh Ahmed, executive member for investment development at Beza, said the investment reflects growing confidence among local investors in the country’s economic zones.

He said Beza is working to ensure faster and more investor-friendly services to help industries start operations quickly.

Rupali Chowdhury, director of Jenson & Nicholson Packaging and managing director of Berger Paints Bangladesh, said the investment would enhance the company’s production capacity while supporting environmentally friendly manufacturing, employment generation and the development of the paints industry’s backward linkage.

She also urged Beza to address gaps in utility services and policy issues to make the National Special Economic Zone a more attractive manufacturing hub.

Aamra Technologies Limited has recommended a 0.25% cash dividend for general shareholders for the fiscal year ended 30 June 2025, despite reporting a sharp decline in financial performance.

According to a price-sensitive information (PSI) disclosure filed with the Dhaka Stock Exchange (DSE) today (13 July), .

The payout for general shareholders will amount to around Tk11.32 lakh, the company said.

Aamra Technologies said the date, time and venue of its Annual General Meeting (AGM), along with the record date, will be announced after receiving approval from the High Court.

The dividend recommendation comes amid worsening financial results. For FY25, the IT services company reported earnings per share (EPS) of negative Tk3.17.

Its net asset value (NAV) per share declined to Tk18.46 from Tk21.73, while net operating cash flow per share (NOCFPS) dropped to Tk0.70 from Tk4.21, indicating increased financial pressure and weaker operational performance.

The company was earlier downgraded to the 'Z' category from the 'B' category on 12 February after failing to distribute its approved 1% cash dividend for FY24 within the regulatory deadline of 30 days after its AGM.

Although Aamra submitted a dividend compliance report on 7 July, the DSE has not yet upgraded its category.

A senior company official attributed the financial setback to regulatory challenges. In May 2024, the Bangladesh Telecommunication Regulatory Commission (BTRC) restricted the company's bandwidth capacity as an internet gateway service provider over unresolved government revenue-sharing dues.

The restriction significantly affected the company's core operations, which were brought close to a standstill, the official said.

The company said it is working to resolve the issue with the BTRC, but the matter remains pending, affecting business continuity.

Aamra Technologies has been listed on the capital market since 2012, with an issue price of Tk24 per share.

A private service holder, Rezaul Karim, first accessed the digital nano loan feature around four years ago, shortly after it was introduced, when the initial credit limit was Tk1,000.
TBS Illustration
TBS Illustration

Since then, he has used the service numerous times, with the credit limit gradually increasing to as much as Tk34,000 based on transaction history and repayment behavior.Sharing experience with The Business Standard, Karim said that digital loan services have become an important source of short-term financing for his everyday expenses.He first discovered the loan while making a payment through the bKash app, and after reviewing terms and conditions, he borrowed Tk1,000 to complete the purchase of a shirt.
"The service is particularly useful during emergencies or when immediate cash is needed, such as during Eid holidays when banking services are less accessible," said Karim. "On one such occasion, I borrowed Tk11,000 after running out of cash while away from home."Digital nano loan disbursement crossed Tk10,000 crore in July, marking a significant milestone in Bangladesh's first fully digital and collateral-free loan service introduced jointly by bKash and City Bank in December 2021.Over 35 lakh bKash customers availed the loan from City Bank so far under the digital nano loan platform, reflecting an improvement in democratising access to credit for marginal people.bKash data shows that users availed the loans service over 3 crore times when the platform offered a minimum of Tk500 to a maximum of Tk50,000 based on payment behavior.

Under the digital loan platform, around 1 lakh customers receive an average of Tk3,500 each every day through the bKash app. In contrast, all banks combined lend to only around 20,000-25,000 people or companies.

Over 1.2 crore bKash customers are currently eligible to avail loans based on users' transaction behavior on the bKash app, KYC information, and previous loan repayment history, according to bKash.

The service was initially started with only 2 lakh customers. After the pilot phase, it expanded to 8 lakh and gradually increased to 1.2 crore in 4 years, according to City bank.

Arup Haider, deputy managing director of City Bank, said digital nano loans tell a bigger story of democratising credit and financial inclusion, which was the fundamental idea.

He said people frequently face unexpected situations where they urgently need cash, but there was no system to address that need. Nano loans have now filled that gap.

This has improved the lives not only of vegetable sellers but also of corporate employees, journalists, and countless ordinary people, said Haider.

He expects that if today's borrowers continue to grow, the average ticket size may rise from Tk3,500 to Tk10,000, because customers are gradually building credit scores and repayment histories. When ticket size grows, it will be used for the productive sector, he added.

"What we're seeing today is only the tip of the iceberg," said the banker.

Eventually, perhaps by 2030 or 2031, as many as one million people could receive nano-loans every day. When that happens, informal moneylenders will largely disappear. Many local lending associations will also become obsolete," he said. He also believes a significant share of the NGO microfinance market will eventually shift toward nanolending.

How nano-loans are democratising credit

According to bKash data, nearly half of all Tk10,000 crore loans have been disbursed outside large cities like Dhaka and Chattogram, expanding access to formal finance in smaller cities, towns, villages, and underprivileged communities. More than one-quarter of the borrowers are women, strengthening their financial inclusion and economic participation.

Ali Ahmmed, chief commercial officer of bKash, said the milestone has significant economic implications because the loans are reaching people who largely lack access to formal banking, particularly outside major cities. Women, small traders, and micro-entrepreneurs are using the loans for productive purposes, such as purchasing inventory or working capital.

He said customer feedback and internal research indicate that many borrowers use the funds to support income-generating activities.

For instance, someone selling vegetables in the market may borrow Tk5,000 in the morning, purchase vegetables, transport them to Dhaka, and sell them. They may repay the loan within a week or a month, but during that period they could generate business worth Tk30,000. Since vegetables often have margins of 40-50%, they can earn substantial returns. The economic impact of thousands of such cases is difficult to quantify, he said.

The government's vision of a cashless Bangladesh begins with people shifting from cash to digital transactions. Once customers start using mobile financial services digitally, they create a credit history, he said.

The borrowers' list is continuously refreshed. Some customers qualify while others are removed, depending entirely on scoring models. Their loan limits also change over time as new transaction and repayment data becomes available.

Loan eligibility is determined using customers' transaction history in bKash accounts along with City Bank's credit policy. The repayment period is 3 months to 6 months.

The maximum six-month option is mainly for financing purchases of specific products using the Pay Later product, and only a very small percentage of borrowers use that option. About 99% of customers repay within three months, according to the bank.

The service has become a vital financial safety net—helping manage emergency expenses, education costs, household needs, and temporary business cash-flow gaps while reducing dependence on predatory informal lenders.

There is no charge for early settlement of the loan, and interest applies only for the period the loan remains outstanding.

Eligible customers simply tap the Loan icon on the bKash app, enter the desired amount within their approved limit, accept the terms and conditions, enter their bKash PIN, and instantly receive the approved loan amount in their bKash account.

Though the contribution of digital nano-loans to overall business is still negligible, City bank experienced rapid growth in users and strong repayment behavior, which kept the service at break-even.

With a default rate of less than 1%, the digital lending model has demonstrated strong portfolio quality. The bank noted that approximately Tk8,000 crore of the total disbursement occurred within the last 18 months, highlighting the product's rapid growth.

So far, out of the Tk10,000 crore the bank disbursed, around Tk80 crore has not yet been recovered, according to the lender.

How costly are nano-loans?

The bank charges 17% to 19% for digital nano loans, which looks high but is not burdensome, said Arup Haider. "Apparently it looks high, but most people don't find that unreasonable."

Citing an example, he said, "If you borrow Tk10,000, you'll repay around Tk10,400 over three months of the loan period."

He said in traditional banking, issuing a loan requires a large operational process. "That's where digital technology changes everything."

He added, "Also, think about the alternatives. If you cash out Tk10,000 through conventional channels, you might spend around Tk200 in fees. Here, you receive a three-month loan and repay it gradually in installments, paying only less than Tk400 extra in total when this loan solves your immediate problem."

Future of digital nano-loans

Ali Ahmmed sees two major opportunities. First, the number of customers with access to credit can increase substantially given the country's around 126.6 million adults with national identity cards and more than 84 million mobile financial service users.

Second, there are significant opportunities for small and medium enterprises (SMEs). Many small businesses currently have no meaningful access to formal finance. Many already use bKash for cash-in, cash-out, and merchant payments.

"If banks partnered with us to provide working capital loans, the funds could be used much more productively," he said.

"For example, suppose a pharmacy receives a Tk100,000 loan. Instead of receiving cash, the business could directly pay pharmaceutical companies to purchase medicines. The pharmacy would then sell those medicines and repay the loan after one week, 15 days, or a month."

"We often discuss the slow growth of private-sector credit. I believe that if we properly structure digital lending for SMEs, it could become an important driver of future private-sector credit growth," he said.

State-owned and listed Eastern Lubricants Blenders PLC has partnered with the authorised Bangladeshi distributor of US-based Ergon transformer oil as part of its strategy to diversify into higher-value speciality products.

According to a price-sensitive information (PSI) disclosure today (11 July), Eastern Lubricant signed a one-year agreement on 9 July with Premier Petroleum Products & Lubricants Limited (PPPLL), Ergon's authorised distributor in Bangladesh.

Under the agreement, the two companies will jointly market, sell and distribute Ergon-brand transformer oil to government organisations across the country.
The company's share price rose 0.94% to Tk1,889 on the Dhaka Stock Exchange on Saturday.

Transformer oil is a specialised insulating and cooling oil used in electrical transformers to dissipate heat and provide electrical insulation, helping improve the safety, efficiency and lifespan of transformers. It is widely used in power generation, transmission and distribution systems.

The company said the partnership would enable it to supply internationally recognised transformer oil to government institutions, strengthen its position in Bangladesh's specialised lubricant market, and support its broader expansion strategy.

A subsidiary of the Bangladesh Petroleum Corporation (BPC), Eastern Lubricants is the country's only state-owned lubricant manufacturer, producing, blending, marketing and distributing automotive, industrial, marine and specialised lubricants.

The company has been seeking to diversify beyond conventional lubricants in recent years. Industry observers view the Ergon partnership as a significant step towards that goal.

Market analysts said demand for transformer oil is expected to grow steadily as Bangladesh expands its electricity transmission and distribution network. Major public utilities, including the Bangladesh Power Development Board, Power Grid Bangladesh PLC, Bangladesh Rural Electrification Board and power distribution companies, require transformer oil to operate and maintain electrical equipment. Securing supply contracts with these organisations could support the company's revenue and long-term growth.

The company, however, did not disclose the agreement's financial value, expected sales volume or potential impact on earnings.

Earnings rise, cash flow weakens

Easter Lubricant also reported stronger financial performance for the first nine months of the current fiscal year.Earnings per share (EPS) rose to Tk28.64 in the July 2025-March 2026 period from Tk17.28 (restated) a year earlier. For the January-March quarter alone, EPS increased to Tk15.61 from Tk6.62 (restated).

Net operating cash flow per share (NOCFPS), however, fell to Tk34.77 from Tk57.68, which the company attributed to higher accounts receivable and increased cash payments to suppliers for product purchases.

Meanwhile, net asset value (NAV) per share rose to Tk162.91 as of 31 March 2026 from Tk139.60 (restated) as of 30 June 2025.According to the company, higher base oil sales and increased non-operating income drove the improvement in earnings during the reporting period.

The share price of Emerald Oil Industries surged by the maximum daily limit, jumping 9.62% on the Dhaka Stock Exchange (DSE) following the announcement that it is preparing to resume production at its factory, which has been shuttered for over two years.

Its factory remained shuttered down since 1 January 2024 due unavailability of gas. It also turned non-compliant as it stopped disclosing its quarterly and annual financials in January 2023.

It had published its half-yearly financials for FY23, and since then investors remained in the dark about the company.

In a disclosure today (8 July), in a bid to reverse its fortunes, Emerald Oil said its board authorised management to resume factory operations as well as repair and maintenance to return to operation."

"The company has also informed that as per decision of the management, it has already procured a new boiler machine, new transformer, electric power substation and the installation of these machines are under process."

"Moreover, the company is also repairing the refinery unit. The total amount of procurement and maintenance is worth Tk10 crore approximately," it said.

With the disclosure about resuming operation, driven by investor optimism, the stock jumped 9.62% to close at Tk26.20 apiece on the DSE.

Market data showed massive trading volume, with 7.62 lakh shares changing hands, generating a total turnover of Tk1.99 crore.

The prolonged operational freeze and reporting lapse led the DSE to downgrade Emerald Oil to the Z category on 2 December 2025, after operations had remained halted for over six consecutive months.

According to its financial data, it had made a profit of Tk6.60 crore in FY23, and paid a 10% cash dividend to its shareholders.

After a hiatus of four years, Emerald Oil had returned to full-fledged production thanks to fresh investment in January 2022 under new owners.

The investment, which came from Minori Bangladesh, a subsidiary of Japanese farming company Minori Co Limited, had brought hope among the shareholders, who are now hoping to get good returns from their investments.

With its signature product – the rice bran edible oil, branded as Spondon, Emerald Oil had been a profitable firm until 2016.

The following year, when a loan scam of its founder came to light, the company started losing business and operation was halted due to a shortage of working capital.

Facing corruption charges, the founder fled the country and it was the shareholders who suffered the effects of a share price drop.

The Bangladesh Securities and Exchange Commission (BSEC), as a part of its drive to resurrect the listed sick companies, in January 2021, dissolved the board and reconstructed it by appointing five independent directors.

As per the agreement, Minori Bangladesh owns 30% shares from the company's directors and sponsors.

Emerald Oil, incorporated in 2008, began production of its Spondon-branded rice bran oil in 2011 and entered the bourses in 2014.

The company raised Tk20 crore issuing two crore general shares at a face value of Tk10.

But, in a few years, it melted down both in its business and in the stock market as soon as the founder's loan scams unfolded.