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Banking stocks lose grace for high defaulted loans

Banking stocks lose grace for high defaulted loans Once known to many for their attractive stocks, banks are a long way from raising adequate interest among stock market investors as confidence has been sunk by high amounts of non-performing loans and low asset value. Among the listed 31 banks, 21 are witnessing their stocks of a face value of Tk 10 being traded at less than Tk 20. Stocks of AB Bank, First Security Islami Bank, ICB Islamic Bank, National Bank and Standard Bank even traded below the face value. Investors are not buying banking shares for mainly two reasons. One is for the vulnerability of the sector, said Prof MA Baqui Khalily, a former director of Dhaka Stock Exchange (DSE).

Dialogue with banks on 5% levy on pre-tax – AGI to government

+ The Association of Ghana Industries is calling for a dialogue between the government and players in the banking industry on the 5.0% profit before tax levy before its implementation. It also wants the financial sector levy to be spread to other sectors of the economy. Already, the Association of Bankers are unhappy of the levy because its members are already paying the 5.0% fiscal stabilization levy. Chief Executive of AGI Seth Twum Akwaboah told Joy Business that the banks are overburdened with numerous levies. “They are already paying the stabilization levy of 5.0% and therefore if you are going to increase it to 10.0% or introducing another levy then it should be discussed with them [banks] and perhaps you should also consider a spread of it to other sectors that are equally important and are also making or made some good gains during this period [covid-19].”

Advierten que el tercer cheque de estímulo puede ser embargado para el pago de ciertas deudas

Advierten que el tercer cheque de estímulo puede ser embargado para el pago de ciertas deudas
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