NBL recovers Tk 9 billion default loans: Chairman 

National Bank Limited (NBL) has recovered nearly Tk 9 billion default loans as of October 2024, said NBL Chairman Abdul Awal Mintoo while speaking at a press conference at the bank's headquarters on Thursday in the city. 

He expressed further optimism that the bank will stabilize within three months time.

He said efforts are underway to recover an additional Tk4 billion default loan by the year-end vowing that the bank will achieve a turnaround soon. Bank's Managing Director Touhidul Alam Khan, directors, and other senior officials were present at the event.

Mintoo emphasized that the legacy of the NBL as the first private sector bank established by local entrepreneurs will be shining soon. He outlined ongoing initiatives focused on asset recovery, enhancing foreign trade participation and increasing remittance inflows driven by a dedicated team of professionals.

Despite facing a challenging period, the bank remains actively engaged with the critical garment sector, providing essential LC facilities and ensuring timely wage disbursements to factory workers. 

NBL's robust involvement in foreign transactions has also solidified its position in remittance operations, he added.
Acknowledging the past irregularities in the bank, Mintoo assured that no such irregularities have occurred under his leadership in the last three months. 

"Loan recovery, irrespective of how loans were sanctioned -- that is regularly or irregularly-- is now our primary focus. Five specialized teams, including international audit support, are working diligently to reclaim these funds," he stated.

He urged customers to maintain their trust in the bank in view of the recent customer shaking confidence across the banking sector. "Inflation has outpaced income growth, prompting many to withdraw savings. However, with Bangladesh Bank's support, we are committed to restoring confidence. Within next three months, improvements will be evident," he said. 

His efforts, he said reflects National Bank's efforts to navigate challenges, emphasizing transparency and customer-centric initiatives as cornerstones of its  recovery plan.