The amount of defaulted loans has increased at an alarming rate in the country. Breaking all previous records, the total amount of loan defaults in the banking sector is 2 lakh 11 thousand 391 crores. Which is the highest ever. Out of this, defaulted loans have increased by Tk 66 thousand crore in the last six months. Which is more than 12.5 percent of the total disbursed loans.
Meanwhile, state-owned banks accounted for half of the total defaulted loans. The amount of which is 1 lakh 2 thousand 483 crores. On the other hand, defaulted loans of private commercial banks are Tk 99 thousand 921 crores. Bangladesh Bank released this update on defaulted loans on Tuesday (August 4).
In fact, the amount of defaulted loans will be higher, analysts said. They said that the banking sector has been looted due to political indulgence. The influential have taken out thousands of crores of rupees in the name of loans. As a result, the amount of defaulted loans has increased. They also said that it is not possible to get out of this without giving exemplary punishment to the willful defaulters.
Executive Director of South Asian Network on Economic Modeling. Salim Raihan, the official amount of defaulted loans is double the amount in reality. The banking sector has been battered. Larger loans have been seen at the heart of defaulters' power. Again they controlled the banking sector.
Executive Director of the Center for Policy Dialogue. Fahmida Khatun said that in the last 15 years, the banking sector has gradually become in crisis. Due to lack of good governance, discipline in this sector has deteriorated drastically. The big proof of this is the increase in defaulted loans. He also commented that the banks were victims of political influence and a culture of lack of accountability.
On the other hand, according to the conditions of the International Monetary Fund (IMF), the non-performing loans of state-owned banks should be reduced to below 10 percent and the non-performing loans of private commercial banks to 5 percent by 2026.
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