Plan to recover Tk 509bn classified loans

Finance Minister AHM Mustafa Kamal on Saturday placed in the national parliament the list of 300 top loan defaulters of the country involving Tk 50,942 crore.
“These loan defaulters took loans from all banks and financial institutions of the public and private sector. And the outstanding amount of these loan defaulters is Tk 70,571 crore while classified amount is Tk 52,837 crore,” he said in response to a question from ruling Awami League MP Md Israfil Alam. He added the top 300 loan defaulters owe Tk 50,900.42 crore to the different banks and financial institutions.

In addition, he also gave details of 14,617 individuals who borrowed more than Tk 50 million each from different banks and leasing companies since 2009 without repayment. The top 10 defaulters are¬ -- Samannaz Super Oil Ltd (Tk 1,049 crore), Galaxy Sweater and Yarn Dyeing Ltd (Tk 984 crore), Rimex Footwear Ltd (Tk 976 crore), Quantum Power Systems Ltd (Tk 828 crore), Maheen Enterprise Ltd (Tk 825 crore), Rupali Composite Leather Wear Ltd (Tk 798 crore), Crescent Leather Products Ltd (Tk 776 crore), SA Oil Refinery Ltd (Tk 707 crore), Suprov Composite Knit Ltd (Tk 610 crore) and Grameen Shakti (Tk 601 crore).
The amount of bad debt in the last 39 months was Tk 432.1 billion, according to Kamal.

The number of loan defaulters until September 2015 was 1,11,954 with a total of Tk 591.05 billion in bad loans. And until December 2018, the number of loan defaulters was 1,70,390 and the amount of defaulted loans was more than Tk 1 trillion. He also disclosed a list of borrowers who took more than Tk 5 crore from all banks, finance and public sector having outstanding amount of 5 crore and below. The list showed that some 14,617 individuals and institutions took loans of Tk 1,741,348 crore since 2009 while Tk 100,183 crore got defaulted.