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BB asks banks to submit recovery status of default loans [ Back Page ] 13/01/2018
BB asks banks to submit recovery status of default loans
Abu Sazzad

Bangladesh Bank (BB) has asked all scheduled banks to submit recovery status of top classified loans on a quarterly basis to reduce and minimize the bad debt.
The BB also asked the banks to undertake rigid steps against the large-scale loan defaulters that are hampering the gradual development process and weakening the macro- economic stability of the country.

Recently, the central bank has issued a circular to the managing directors of all the scheduled banks in which it asked them to show harsh attitude to the top loan defaulters to recover the classified loan amount.

As per the latest data of the BB, the classified loan of the banking sector stood at Tk73,004cr. Finance Minister AMA Muhith, however, has recently told the parliament that the default loan amount was over Tk1,00,000cr.

Big borrowers are responsible for the lion\'s share of the default loan and only 20 large-scale borrowers have taken 46 per cent of the total classified loan, a senior BB official said on Thursday.

Bank officials, especially credit officials cannot evade their responsibility for the rise in default loan, said Dr Shah Md Ahsan Habib, Prof and Director of the Bangladesh Institute of Bank Management on Thursday.

About 73 per cent financial scams in the scheduled banks are committed due to lack of corporate ethics and practices for which the credit officials fail to assess the large-scale loan profiles, he said.
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