Five private banks of Bangladesh could not redeem anything of their disbursed loans in the April-June period. The banks are- Community Bank, ICB Islami Bank, South Bangla Agriculture Bank, Mutual Trust Bank and Union Bank.
According to Bangladesh Bank, the overall recovery rate of regular loans was 17.7 per cent while the amount of loans disbursed during the time stood at around Tk 19,793 crore at the corresponding period.
Agrani Bank also showed a poor result with only 0.11 per cent recovery of regular loans and IFIC Bank’s recovery was 0.3 per cent.
Besides, as of June, the amount of default loans that 24 scheduled banks could realise was less than 1 per cent.
AB Bank, Bangladesh Commerce Bank, IFIC Bank, Midland Bank, Modhumoti Bank, NRB Commercial Bank, NRB Global Bank, One Bank, Padma Bank, Premier Bank, Southeast Bank, and Standard Bank witnessed less than 1% recovery of default loans.
On the other hand, foreign banks- Citibank NA, HSBC, and Woori Bank retrieved zero default loans.
As of June, loans amounting to Tk11.40 lakh crore were disbursed, of which, Tk95,243 crore were defaulted. In April-June, the amount recovered stood at Tk1,075 crore, meaning that the overall rate is 1.89 per cent.
Source: The Business Standard