Just ten banks, both state-owned and private, account for 71 percent of all non-performing loans (NPLs) in the country’s banking sector.
The interim government is formulating a distressed asset management ordinance that could pave the way for a state-owned corporation to buy and trade troubled assets from banks and non-bank financial institutions (NBFIs).
Bangladesh's banking provision shortfall soared six-fold to Tk 170,655 crore, due to soaring bad loans
Bad loans in Bangladesh’s banking sector hit a record Tk 420,335 crore at the end of March as a clearer picture of the toxic loan is coming to light following the political changeover in August last year.
Around a dozen banks are currently struggling to repay depositors, eroding public trust
The banking sector is currently going through one of its worst times. People are suffering, with some even failing to withdraw their own money, causing immense distress.
The discord became apparent after Faiz Ahmed Taiyeb, special assistant to the chief adviser with authority over the Ministry of Posts, Telecommunications and IT, sent a letter to the BB governor on May 12 and posted the letter to his Facebook account recently
Bangladesh Bank has recently discovered through a probe that the joint director of its Rajshahi office, who has been serving the central bank for 12 years under the name of Md Abdul Waresh Ansary, is actually an imposter.
Govt asks postal department to take responsibility of the MFS provider
The central bank is likely to issue a circular in this regard today.
In what is seen as a landmark step toward restoring financial discipline, Bangladesh's interim government recently granted the central bank sweeping new powers to intervene in the troubled banking sector.
Globe Pharmaceuticals Group of Companies is set to sell its edible oil unit, Globe Edible Oil Ltd, to adjust bank liabilities.
Premier Bank paid Tk 10 crore to HBM Iqbal, the former chairman of the bank, for office space in one of his buildings that the private commercial lender did not use or rent.
State-owned, Islamic Shariah-based, and specialised banks have seen deeper deterioration in their financial positions, whereas private commercial banks and foreign banks remain on firmer ground.
Remittance inflows in the first ten months of the current fiscal year have already exceeded the total receipts of FY 2023-24
Ahsan H Mansur stated that the country's Islamic banking sector would be completely restructured as most of the existing Islamic banks are currently in trouble.
With the central bank halting direct financing by printing new notes, the government also has no option but to turn to commercial banks to meet its fiscal needs.
Interest rates on government treasury bills rose again this month, reversing a brief downward trend and signalling a continued liquidity crunch in the banking sector.
