As of May 2024, Sonali Bank has recovered only 4.5% of classified loans from its top 20 defaulters. Of these, 17 defaulters made no payments between January and May. Notably, Hallmark Group, Leena Group, and Apex Weaving and Finishing collectively repaid just Tk 2.7 million. The top 20 defaulters owe over Tk 50.80 billion, while Sonali Bank’s total classified loans amount to Tk 149.88 billion, or 14.84% of its disbursed loans.
To address this, Sonali Bank is implementing a four-tier supervision system led by its Chief Executive Officer and Managing Director. The bank has also seen improvements in its capital and deposit portfolio. The Bangladesh Bank’s previous loan moratorium and eased classification policies had impacted recovery efforts. Major defaulters like T and Brother’s Group, Hallmark Group, and Rupashi Group have not met their repayment obligations as expected.
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