Observers say the funds are needed to avoid defaulting on external payment obligations, while the lender's green signal is vital for any other external funding
Top 20 loan defaulters named in parliament
The number of defaulters in the banks and financial institutions was 786,065 as of November 2022
Published : 24 Jan 2023, 05:06 PM
Updated : 24 Jan 2023, 05:06 PM
Finance Minister AHM Mustafa Kamal has revealed the names of top 20 loan defaulters, whose dues total around Tk 165.9 billion against loans worth over Tk 192.83 billion.
Citing data from the Credit Information Bureau, the finance minister said in parliament on Tuesday the number of defaulters in the banks and financial institutions was 786,065 as of November 2022.
The top of them and the amounts of their default loan are:
CLC Power Company Limited: Tk 16.4 billion
Western Marine Shipyard: Tk 15.29 billion
Rimex Footwear: Tk 10.77 billion
Rising Steel Company: Tk 9.9 billion
Mohammad Elias Brothers: Tk 9.65 billion
Rupali Composite Leatherwear: Tk 8.73 billion
Crescent Leathers Product: Tk 8.55 billion
Quantum Power Systems: Tk 8.11 billion
Saad Musa Fabrics: Tk 7.76 billion
BR Spinning Mills: Tk 7.21 billion
SA Oil Refinery: Tk 7.03 billion
Maisha Property Development: Tk 6.63 billion
Radium Composite Textile: Tk 6.6 billion
Samannaz Super Oil: Tk 6.51 billion
Manha Precast Technology: Tk 6.47 billion
Ashiyan Education: Tk 6.35 billion
SM Steel Re Rolling Mills: Tk 6.3 billion
Appollo Ispat Complex: Tk 6.23 billion
Ehsan Steel Re-rolling: Tk 5.9 billion
Siddiqui Traders: Tk 5.41 billion
The government has approved a number of facilities and waivers for the borrowers due to the global crisis amid the coronavirus pandemic and the Russia-Ukraine war, but the measures have failed to play a significant role in reining in default loans.
The loans defaulted on in the banks have kept rising, with nearly Tk 91.4 billion added in the first quarter of 2022-23.
The default loans stood at Tk 1.34 trillion at the end of September – 9.36 percent of the total outstanding loans disbursed by the banks, or Tk 14.36 trillion. The non-performing loans were 8.96 percent of the total outstanding loans at the end of June.
As the banks are allowed to write off more default loans than before now, analysts believe the actual total is much higher than what the central bank reports.
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