In Three Months Defaulted Loan Increased To Tk. 3,500 Crore

In three months, the defaulted loan increased to Tk. 3,500 crore.Defaulted loans have risen again in the banking sector. In the three months from April to June this year, non-performing loans in the banking sector have increased by Tk. 3,500 crore. This information has been found in the updated report of Bangladesh Bank.

Due to the epidemic, Bangladesh Bank has instructed not to default on all types of regular loans from January. This instruction will remain in force till September 30. That instruction is in force against all loans other than credit cards. So at the time of the credit card debt has defaulted to a large extent. That is why the amount has increased in the overall banking sector. Earlier, non-performing loans in the banking sector declined slightly from January to March.

According to the report, the total loan installments disbursed by the banks till June this year amounted to Tk. 10,49,725 crore. Of this, Tk. 96,116 crore has been defaulted, which is 9.16 per cent of the total loans disbursed. In the previous quarter, from January to March, the amount of defaulted loans was 92 thousand and 510 crore. As a result, defaulted loans have increased by Tk. 3,606 crore in just three months.

Syed Mahbubur Rahman, former chairman of the Association of Bankers Bangladesh (ABB) and managing director (MD) of Mutual Trust Bank, said a tripartite meeting was held before the annual report of commercial banks was prepared. At the end of that meeting, every year in the March quarter, the default debt increased a lot. But this time the meeting was delayed due to Corona. This has had an impact on defaulted loans in the June quarter. That is why defaulted loans have increased in June.

Executive Director of the Policy Research Institute. Ahsan H. Mansoor said that Bangladesh Bank has rejected the application of some defaulters for rescheduling of loans. As a result, defaulted loans have increased by Tk. 3,500 crore. He added that when all the bad debts hidden under the sheets are taken out, it will be understood how horrible the situation is.

News Room,August 24,2020