Janata Bank’s defaulted loans surged to a record Tk 67,300 crore by the end of last year, as politically exposed persons and business conglomerates became defaulters following the recent political changeover, reflecting the fragile condition of the state-run bank.
The S Alam Group concern owes Tk 1,777 crore to the state-owned bank
State-run Janata Bank has been partly exempted from the Bank Companies Act-1991 so that it can lend money to Beximco Group, a loan defaulter.
Beximco has sought support from the government to extend the repayment period of its liabilities to Janata Bank over the next 10 years, including a two-year moratorium.
As much as 90 percent of the loans disbursed by a branch of state-run Janata Bank was for S Alam Group, in yet another instance of how the Chattogram-based business giant exerted its influence on the country’s banking sector.
What is the purpose of a single borrower exposure limit? It is to ensure that a bank’s fortune is not tied to the ebb and flow of a conglomerate’s business.
The state-owned bank's failure to meet any of the performance targets set by the central bank raises a red flag.
In the banking sector of Bangladesh, exemptions from rules and regulations for powerful loan defaulters seem to be the default rules.
Janata Bank must answer for its poor handling of AnonTex’s loans
There were 1.14 lakh bank accounts having over Tk 1 crore each in the all of the country’s commercial banks in 2015, says finance minister AMA Muhith.
The central bank appoints four observers to the boards of four state-owned commercial banks.
Miscreants torch seven vehicles in Dhaka and elsewhere leaving three injured
