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13 business groups default Tk 60,000cr loan repayment 

Published : Saturday, 25 January, 2025 at 12:00 AM  Count : 377
Unrealised loans worth Tk 60,040 crore of four state-owned banks - Sonali, Janata, Agrani and Rupali banks are now in the hands of 13 business groups. 

The huge amount of loans were given to those companies violating the loan limit of a single customer. 
Although the banks have been showing the loans as regular so far, they have already become defaulters. As a result, the country's defaulted loans are increasing rapidly and many borrowers are on the verge of defaulting again, according to BB sources.
In this situation, the central bank held a meeting with the managing directors of the four banks recently in accordance with the Memorandum of Understanding (MoU) signed with BB to improve the financial condition of four public sector commercial banks.

In the quarterly meeting, various issues including defaulted loans, capital deficit, and loan recovery of these banks were discussed. BB Governor presided over the meeting and gave necessary instructions to realise and regularise the loans as soon as possible.

BBs spokesperson and Executive Director Husne Ara Shikha, told the Daily Observer that MoUs are signed every year with Managing Directors 

Under MoUs each bank is given specific targets. In most cases, the banks failed to achieve satisfactory progress. The central bank gave guidance in the meeting on how to make progress in future.

According to BB data, the loan balance of the four banks as of last September was Tk 297,612 crore.     
Of this, Tk 116,537 crore was defaulted. Some of the big borrowers are at risk of defaulting. Due to which the defaulted loans of these banks will increase further by the end of December.

As of last September, the four banks have a capital deficit of Tk 51,687 crore. The central bank has given these banks the opportunity to conserve the prescribed capital in stages. The amount of money kept under special concession is Tk 38,258 crore. As a result, the capital deficit in the financial statements of the banks is only Tk 13,429 crore. The worst condition among the four banks is of Janata Bank. Sonali Bank is comparatively better off.

According to BB rules, the maximum percentage of loans that a bank can give to a single group is fixed. Under the existing rules, a maximum of 25 per cent of the total capital can be given as funded and non-funded loans. Of this, a maximum of 10 per cent can be given as funded. The remaining 15 per cent can be given to meet various liabilities including LCs. However, the banks did not follow this rule while lending to 13 industrial groups. The Beximco Group has the highest debt. As of last September, the group's debt to three banks was Tk 25,560 crore.

As of last September, Janata Bank's total debt balance was Tk 91,224 crore. Of this, Tk 55,481 crore or 66.44 per cent was defaulted. A large portion of the defaulted debt is with four industrial groups. As of last September, the bank's capital deficit stood at Tk 26,420 crore. However, a special approval of Tk 19,928 crore was given by the central bank. Due to which the deficit is shown as only Tk 6,492 crore.

According to the information received, Tk 42,476 crore was given to five groups without respecting the single borrower limit. This is 46.56 per cent of the total debt. The Beximco Group's debt alone is the highest at Tk 22,848 crore. As of the end of last September, it defaulted.

The second highest debt of Antex Group is Tk 7,765 crore. The third highest debt of S Alam Group is Tk 7,755 crore. The loan of Tk 2,076 crore given to Crescent Group has been in default for a long time. The loan of Tk 2,032 crore given to Thermex Group, which is in fifth position, has not been shown as default.

According to BB data, the total loan of Agrani Bank is Tk 69,699 crore. Out of this, Tk 6,641 crore has been given to four groups in violation of the limit. This is 9.53 per cent of the bank's total loan. As of September, the bank has a capital deficit of Tk 15,494 crore. Out of this, Tk 11,069 crore has been given as a discount, and the deficit is shown as Tk 4,425 crore.

Among the top four groups, only Judge Bhuiyan Group has defaulted as of September. The group's loan amount is Tk 2,201 crore. The loan amount of Bashundhara Group is Tk 2,684 crore. The loan amount of Orion Group is Tk 944 crore. And the loan of Jamuna Group is Tk 811 crore.

Rupali Bank lent Tk 46,354 crore. Out of this, Tk 4,975 crore has been given to five groups in violation of the limit. Which is 10.73 per cent of the bank's total loans. As of last September, the bank has a capital deficit of Tk 6,947 crore. Of this, Tk 4,355 crore is exempt.

Of the top five groups, Tk 1,255 crore has been given to Mother Textile Mills. Tk 1,206 crore has been given to Blue Planet Group. Tk 944 crore to Beximco Limited. Tk 876 crore to Orion Group. Tk 694 crore has been given to Multazim Group. Of these loans, only Beximco's loan default is in the previous stage.

Sonali Bank lent Tk 90,587 crore. Of this, borrowers defaulted in repaying Tk 14,685 crore. Last September, Sonali Bank had a capital deficit of Tk 2,826 crore. However, Tk 2,906 crore was exempt. Due to which Sonali Bank is showing a capital surplus. The amount of defaulted loans of the top three groups with Sonali Bank is Tk 5,948 crore.

Of these, Hallmark Group is the most defaulted loan defaulter with Sonali Bank at the end of last September. The group has defaulted on its loans of Tk 2,708 crore. The second highest default was on the loans of Beximco Group, which had defaulted on its loans of Tk 1,767 crore. Thermax Group has defaulted on its loans of Tk 1,473 crore.



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