LATEST NEWS
      
Today : Dhaka
 
36° C
28° C
  
 
  Volume: XX, Issue No. 02 September 1-15, 2010  
     
 
  BANKING & COMMERCE
  LankaBangla Investments Ltd. to be launched

_A Monitor report
Dhaka : LankaBangla Finance Limited, a leading non-banking financial institution (NBFI) is coming up with its new subsidiary 'LankaBangla Investments Ltd', to strengthen the merchant banking in Bangladesh.

Established in late-1996, LankaBangla Finance is a joint venture financial institution established with multinational collaboration of foreign equity investment from Sri Lanka and Kingdom of Saudi Arabia.

Mafizuddin Sarker, Managing Director of LankaBangla Finance Ltd announced that its operation will start from August aiming to give a thrust on merchant banking a professional outlook. He said the listing process of LankaBangla Securities, another subsidiary of LankaBangla Finance is also in progress.

LankaBangla Finance is one of the recipients of license awarded by Bangladesh Bank to act as primary dealer (PD). LankaBangla Securities remains the top broker of the country during the last few years.

LankaBangla Finance earned a net profit of Tk 372 million in the first quarter of 2010 against Tk 90 million of the corresponding period of the previous year. Earnings per share rose to Tk 7.10 (face value Tk 10) against Tk 1.70 during the period.

LankaBangla has established a separate department on SMEs as a plan for 2010. Human resources department and establishment of infrastructure network are underway for a separate SME department.

LankaBangla has been offering diverse financial services including lease, loan, corporate finance, bridge finance, working capital finance, merchant banking, factoring of receivables, home loan, stock market operation and credit card under master card brand.

It also receives deposit from individual and institutions under attractive/ flexible/ diversified deposit schemes.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
© 2001-2009, All rights reserved, The Bangladesh Monitor, City Heart (9th Fl), 67 Naya Paltan, Dhaka-1000, Bangladesh;
Telephone: 88-02 - 8351148, 9334963, 9330676 Fax: 880 2 8314306; Web: http://www.bangladeshmonitor.net, Email: news@bangladeshmonitor.net, monitor@bangla.net
monitor@bol-online.com; Publisher: Syeda Gousia Abed, Chief Editor: Raquib Siddiqi, Editor: Kazi Wahidul Alam; Printed at Prime Art Press Ltd. 70, Naya Paltan, Dhaka-1000.