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
Troubled state-run lender Janata Bank continues to be overly lenient towards AnonTex Group, one of its five large borrowers, despite negligible loan recovery in 13 years from the garment manufacturer.
Is the government ever going to stop them?
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
Troubled state-run lender Janata Bank continues to be overly lenient towards AnonTex Group, one of its five large borrowers, despite negligible loan recovery in 13 years from the garment manufacturer.
Is the government ever going to stop them?
State-owned Janata Bank indulged in 31 counts of “serious financial irregularities” from 2015 to 2020 involving Tk 13,110.8 crore, which is 22.85 percent of the lender’s liabilities, found a recent audit.
