Corporate Updates - Bangladesh

CFA Society Bangladesh has elected its new officer bearers for 2 years starting July 1, 2024. Mr. Asif Khan, CFA, the Chairman of EDGE AMC Limited took over the role of society president from Mr. Shaheen Iqbal, CFA. Mr. Md Iqbal Hossain, ACMA, CFA, FRM, CFO and Head of Treasury at Sonali Bank PLC was elected as the vice-president. Mr. Kazi Monirul Islam, CFA, CMT, CEO at Shanta Asset Management became the Secretary, and Mr. Kazi Raquib-Ul Huq, CFA, Head of Capital Market and Wealth Management, BRAC Bank PLC assumed the role of Treasurer. Other directors include Mr. Md Moniruzzaman, CFA, CEO at Prime Bank Securities Limited, Mr. Mahtab Osmani, CFA, Executive Director of Corporate Banking at Standard Chartered Bank, and Mr. S M Galibur Rahman, CFA, Head of Research & Strategic Planning at Shanta Securities Ltd. #CorporateUpdates #Bangladesh

Mr. Mrinal Kanti Biswas, MBA, PGDMM has been appointed as Head of Sales at Tissue Division of of SSG (Super Star Group) Congratulations! Join us in welcoming him... #CorporateUpdates #Bangladesh #Leadership

Mr. Kazi Mottakin Hossain, FCA has been appointed as Chief Financial Officer (CFO) at Anwar Textile of Anwar Group of Industries Congratulations! Join us in welcoming him... #CorporateUpdates #Bangladesh #Leadership

Eastern Bank PLC. launches revamped Skybanking app with numerous features and robust security With numerous new features, user friendliness and robust security the innovative and intuitive app is set to revolutionize the banking experience of customers. The new app will be available in the Play Store and App Store on July 5, 2024. Read more: https://lnkd.in/gdZs9bTw #CorporateUpdates #CUB #Bangladesh

Food delivery platform 'Foodi' starts its journey Considering the importance of time in modern Bangladesh, the new addition to the food delivery business is "Foodi", a subsidiary of US-Bangla Airlines started its journey. Read more: https://lnkd.in/gcf5iZfx #CorporateUpdates #Bangladesh

💢 Mr. Shehzad Munim has ended his tenure at BAT Bangladesh after 11 years as Managing Director and a total of 27 years with the company. 💢 Mr. Shehzad Munim has retired from British American Tobacco (BAT) after nearly 27 years of committed service, bringing to a close an impressive career that started at the entry-level and culminated as Managing Director. 💢 Mr. Shehzad wrote on Linkedin: "My colleagues at BAT deserve all the credit to make this journey memorable. I made life long friends, travelled the world, got lot of love & respect and today able to end it in a nice way. A large chapter of my life comes to its end and now I look forward to what life has to offer next. Seeking prayers from all in the days ahead" #CorporateUpdates #Corporate #Bangladesh

The government has moved away from its decision to raise the highest income tax rate to 30%, Highest income tax rate stays unchanged at 25% Read more: https://lnkd.in/gUzh3EYw #CorporateUpdates #TaxUpdates #Bangladesh

Micromanaging is like planting a seed in a dark cage - it might barely survive, but it'll never reach its full potential.. #CorporateUpdates #GoodRead #ReadNow

The government has borrowed Tk66,724 crore from the banking system in the first 11 months of the outgoing fiscal year. The amount could make businesses and bankers happy because the government has borrowed only around 40% of its revised target from the banks and there would be no crowding-out for the private sector. Central bankers said some treasury bills and bonds, used for government borrowing from the banking sector, remain unsold because banks are insisting on higher interest rates Read more: https://lnkd.in/gbJyjNzd #CorporateUpdates

EBITDA Explained by #Nicolas Boucher What is EBITDA, and what is your take on this metric? EBITDA stands for: • Earnings • Before • Interest • Taxes • Depreciation • Amortization It's a financial metric that shows how much money a company makes before taking into account non-operational expenses like interest and taxes and non-cash expenses like depreciation and amortization. Why is EBITDA important for Businesses? EBITDA is important because it gives businesses an idea of how much money they're generating from their operations. This is useful for investors and lenders who want to know how profitable a company is. It’s like a scorecard to know how much money a company is making. How is EBITDA calculated? To calculate EBITDA, you need to start with a company's revenue and subtract its cost of goods sold. Then, you subtract its operating expenses (like salaries and rent). Another way to calculate it: Net Income Interest Expense Taxes Depreciation Amortization EBITDA vs. Net Income EBITDA: In EBITDA, you don’t take into consideration these expenses: Depreciation, Taxes, Interest. Net Income: But the net income is what remains as actual profit after depreciation, interest, taxes are taken in account.