The newly appointed board of National Bank PLC (NBL), led by the new chairman , plans to scrutinize all waived and written-off loans and interest from the past 15 years. The newly appointed chairman has ordered a thorough review of irregularities, including violations of banking norms, even those permitted by the central bank. He emphasized that no defaulter will receive preferential treatment and legal action will be taken where necessary. He criticized the previous board, particularly the Sikder family, for their involvement in corrupt practices, including barter trade-style lending and overvalued property purchases that financially weakened the bank. NBL has faced significant losses due to high default loans and negative cash flow.
The Chairman urged the central bank to support NBL in addressing these issues and pledged to restore public trust in the institution. The bank’s recovery efforts will include negotiations with defaulting clients and legal actions where necessary.
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