Defaulted loan stood at Tk 1.55 lakh cr

Staff Correspondent: Despite providing various facilities, the amount of defaulted loans in the banking sector is not decreasing. At the end of September this year, the total amount of disbursed loans of the banking sector of the country is Tk 15 lakh 65 thousand 195 crores. Out of this, Tk 155,397 crore have become defaulted loans. This is 9.93 percent of the total disbursed loans. This amount of defaulted loans is Tk 23,001 crore more than the same period last year. At the end of September 2022, the amount of defaulted loans was Tk 1 lakh 34 thousand 396 crores. On the other hand, at the end of the June quarter of this year, the total amount of disbursed loans of the country’s banking sector was Tk 15 lakh 42 thousand 655 crores. Out of this, the amount of defaulted loans was Tk 1 lakh 56 thousand 39 crores. This number of defaulted loans was the highest in the history of the country. Which is 10.11 percent of the total disbursed loans. However, in the last three months, defaulted loans in the country have decreased by Tk 642 crore. This picture has emerged in the latest updated report of Bangladesh Bank.
In this regard, the former caretaker government’s financial adviser AB Mirza Azizul Islam told, “Instead of collecting loans from the borrowers, one after another facility has been given so that the loan does not have to be paid.” In particular, the repayment period has been extended by reducing the interest. Again, the loan installment amount has also been reduced. Also, due to IMF conditions, various conditions have been relaxed so that non-performing loans do not increase. Even then, defaulted loans are not decreasing. This shows how dire the situation of defaulted loans in the country is. He said, “If the debt is calculated correctly, the actual amount of defaulted loans in the country will be much higher.”
On the other hand, due to the dollar crisis, Bangladesh received a loan from the International Monetary Fund (IMF). The country received $476.27 million of the first installment of the loan. Out of the remaining six installments, the second installment is expected to be released in December. In the case of loan waiver in several stages, the organization includes the condition of reducing the defaulted loans of the banking sector in a step-by-step manner. By 2026, non-performing loans in the private sector should be brought down below 5 percent and in public sector banks below 10 percent. According to the latest report, the rate of defaulted loans came below 10 percent, i.e. 9.93 percent.
One of the conditions of the IMF loan of $4.7 billion is to bring down the non-performing loans of the state-owned banks below 10 percent. However, the defaulted loans of these banks have exceeded 21 percent. According to the IMF’s terms, rescheduled and restructured loans, doubtful loans and loans under court-ordered default suspension should also be defaulted. In that case, according to the IMF, the default will be around Tk 3 lakh crore.