Dhaka Bureau: The record amount of defaulted loans has increased to more than 1 lakh 34 thousand crores, which is 9.36 percent of the total loans. This is the highest amount of defaulted loans ever. This information has come out in the updated report of Bangladesh Bank for the September quarter regarding defaulted loans. This report was published yesterday Sunday.
According to the report of Bangladesh Bank, the total debt status of the banking sector at the end of September 2022 stood at Tk 14 lakh 36 thousand 199 crore 82 lakh. Of this, 1 lakh 34 thousand 396 crores have become defaulters. Which is 9.36 percent of the total debt.
The concerned officials of the central bank said that during the corona epidemic, special discounts and various benefits were given in the collection of bank loans. Non-performing loans have been steadily increasing since they were lifted at the beginning of the year. Now the country’s banking sector is at risk of high default. Because according to international standards, the rate of defaulted loans is considered to be maximum 3 percent tolerable. In Bangladesh it is now more than 9 percent.
In the second quarter i.e. at the end of June this year, the total disbursed loan of the banking sector was Tk 13 lakh 98 thousand 592 crores. Out of this, the default amount was Tk 1 lakh 25 thousand 258 crore, which is 8.96 percent of the total disbursed loans. In the three months from July to September, defaulted loans increased by Tk 9,139 crore.
In December 2021, defaulted loans were Tk 1 lakh 3 thousand 274 crores, which is 7.93 percent of the total loans. Accordingly, in the first 9 months of this year, defaulted loans have increased by 31 thousand 122 crores. However, compared to September last year, defaulted loans have increased by Tk 33 thousand 246 crores. In the September quarter of last year, defaulted loans were Tk 1 lakh 1 thousand 150 crores, which was 8.12 percent of the total loans.
At the end of September this year, the defaulted loans of state commercial banks stood at 60 thousand 501 crores, which is 23.04 percent of the total disbursed loans. The defaulted loans of private banks stand at 66,695 crores, which is 6.20 percent of the total disbursed loans. The default of foreign banks is Tk 2 thousand 971 crore, which is 4.77 percent of the total disbursed loans and the defaulted loans of three specialized banks are Tk 4 thousand 277 crore. This figure is 11.80 percent of the loan disbursed by them.
In this situation, after the new governor Abdur Rauf Talukder took office last July, the central bank updated the policy related to defaulted loans by giving major concessions to the defaulters.
The new policy provides an opportunity to regularize defaulted loans by depositing 2.5 to 6.5 percent. Earlier, 10 to 30 percent downpayment had to be deposited to regularize defaulted loans. Besides, defaulted loans are given an opportunity to repay in five to eight years. Earlier, a maximum time of two years was given to repay these loans. Besides, the policy also says to get a new loan even if there is a default. Due to these reasons, the defaulters are waiting for special discounts without repaying the loan, experts believe.
