In the changing situation of the country, there is a fear that the defaulted loans in the banking sector will increase to a mountain. During the previous government’s tenure, the banks used to reduce the non-performing loans with the encouragement of the central bank. Defaultable loans were also not defaulted. The new governor has said with responsibility that accurate information should be disclosed without fear. He also instructed that no information should be concealed. This will reveal the true picture of defaulted loans. In this, defaulted loans will increase more than any time in the past.
Until now, due to political pressure, the loans of big companies were not defaulted even though they were defaultable. Those institutions will be added to the list of defaulters. A large portion of the fraudulent loans are smuggled abroad. They will also be included in the list of defaulters. In the current situation, some influential businessmen of the former government accused of corruption are now in jail. A few others are absconding. Some are not in the country. The business activities of those organizations are being hampered. The institutions have already fallen into the list of defaulters. According to the sources, if the defaulted loans of the banks increase, additional provision should be kept against it. There are three categories of defaulted loans. At present, Newman has to keep 20 percent provision for defaulted loans, 50 percent for doubtful and 100 percent for non-performing or bad loans. Besides, the amount of risky assets of banks will increase due to defaulted loans. It will also increase the capital retention rate. Banks are already unable to keep provisions as per demand. There is a shortage of capital. If defaulted loans increase, the deficit in these sectors will increase. Then the banking sector will become financially weaker.
After the fall of the Awami League government on August 5, the new government took over on August 8. On August 14, prominent economist Dr. took charge as the new governor. Ahsan H. Mansoor. He announced with responsibility, all the information of the banking sector will be disclosed. Then on September 3, the loan data based on last June shows that defaulted loans have increased to 2 lakh 11 thousand crores. In March, it was 1 lakh 82 thousand crores. In those three months, defaulted loans increased by Tk 29 thousand crores. Current September data may be available in late November. Then the defaulted loans will increase. Besides, it will jump in next December and March quarters.
Now the loan defaults six months after maturity. Some loans are defaulting even after three months of maturity. As a result, if the loan installments are due in September, they will be defaulted after December or March. Loans whose installments are due by December will default after next March or June.
Former prime minister’s private sector adviser and Beximco group leader Salman F Rahman has been arrested and is currently in jail. In the name of the group, the bank and finance companies of the country have loans of about 36 thousand crore rupees. There are also benami loans. Although the group’s debt is callable, it has not been called into default by political influence so far. They also did not pay the loan. One after another took new loans by increasing the reverse limit. Agrani Bank has renewed 17 installments of a loan in the name of the group. Now the loan is in the process of being defaulted again. If the loan is not paid by the December quarter, it will be defaulted. Beximco Group’s loan to Janata Bank is Tk 22,700 crore. Of this, 18 thousand crore rupees have defaulted. According to a Janata Bank source, another Tk 12,000 crore will be defaulted by December if the loan installments of various companies of the Beximco Group are not paid. The rest of the loans will also be defaulted in phases. Same situation in other banks.
Meanwhile, a letter signed by Beximco Group’s textile division MD Osman Qaiser Chowdhury was recently given to the four advisors of the government and the governor. In this, he has asked for 10 years to pay all the dues till August 31 as interest-free blocks for the sake of running the business. The bankers think that this demand means that now they cannot repay the loan. If you don’t pay the loan, you will be in default. In case of default, it will be difficult to get new loans. However, the Governor of the outgoing government has issued a new circular for the benefit of the debtors. That is, if a company in a group defaults, that company will not get new loans. But the group or the same entrepreneur will not have any problem in getting loans from other institutions. Due to this provision now the defaulters are also getting new loans. Taking loans in the name of one organization and smuggling them or investing in another organization. Opening a new company and taking new loans. In this process, debtors are also doing business. The banking sector reform task force is said to stop such loan facilities among other activities. They are working towards that goal.
Anon Tex Group’s loan to Janata Bank is around Tk 8 thousand crores. Almost all of these loans have defaulted. Their debt to Islami Bank is Tk 700 crore. This loan is now on the path of default. The total loan to Janata Bank in the name of Crescent Group is Tk 5,500 crore. Of this, about Tk 4 thousand crores are in default. The remaining loans are also in danger of default. Janata Bank defaulted on Sikdar Group’s Rs 850 crore loan. But later on the order of the High Court, the loan was waived. According to the order of the court, the initiative has been taken to default again through the legal process. Banks have been instructed to take necessary measures in this regard.
Ranaka Group’s debt is Tk 1,800 crore. Of this, 550 crore rupees have defaulted. Former minister of Awami League government and leader of Gazi group Golam Dastgir Gazi is now in jail. A factory owned by him was set on fire. The entire loan in the name of that factory will be defaulted. In the name of the group, there are two and a half thousand crores of loans in various banks. The exact information of S Alam Group’s name-anonymous loan is not yet available. However, so far 1 lakh 13 thousand crores of debt has been found. Among them, Janata Bank has more than 11 thousand crores of loans. Out of this loan, 1 thousand 400 crore rupees have defaulted. If the period is not extended, Islami Bank will default on Tk 15,000 crore and Janata Bank Tk 10,000 crore. 650 crore in National Bank is on the verge of default.
United Commercial Bank also has about a thousand crores worth of loans, which are eligible for default; But not defaulting. Almost all such banks have defaultable loans; But not defaulted. Now they have to default. Otherwise, the central bank will be punished.