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Janata Continued Leniency Towards AnonTex Group

Industry: Bank, Financial, RMG, RMG & Textile
Company: AnonTex Group, Janata Bank Ltd
Company Intelligence Tag: Business Insights

Janata Bank continues to show leniency towards AnonTex Group, despite negligible loan recovery in 13 years from the garment manufacturer. AnonTex’s liabilities to Janata stood at Tk 7,726 crore, which is 334 percent of the bank’s paid-up capital, violating rules limiting such loans to 25 percent of capital.

In November 2022, Janata extended a Tk 3,359.19 crore interest waiver to AnonTex with a condition to repay the principal amount by June 15, 2023. In July 2023, AnonTex was given until the end of the year to pay back the amount, with a new condition to sell two of its companies and repay a portion of the total liabilities by September 30. This leniency has contributed to Janata Bank’s ailing financial health, with a capital shortfall of Tk 2,389 crore as of March.

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