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Default loans up Tk 926cr in six months until June

Star Business Report
Default loans in the banking system increased by Tk 926 crore, including Tk 909 crore in four nationalised banks, during January-June period this year as the banks' efforts to recover bad loans have slowed down.
The 49 banks operating in the country had Tk 21,245 crore classified loans at the end of June 2004, compared to Tk 20,319 crore on December 31 last year.
The default loan amount was to 21.51 percent of the banks' overall loan portfolio on June 30 which was 22.13 percent six month ago, that shows a meagre decline of 0.62 percentage point, according to Bangladesh Bank (BB) statistics.
The default loans in the nationalised commercial banks (NCBs), now undergoing various reforms for
increasing efficiency and improving service, stood at Tk 11,527 crore, which is 29.81 percent of their total outstanding loans.
Banking sources said the default loans in NCBs continued to rise as they failed to recover bad loans from big defaulters. Besides, because of the transition period of the ongoing reforms, the NCBs' loan recovery process slowed down.
"When we take legal action to recover big amount of loans by selling the property of defaulters through auction, they go to court and file writ petition that stalls our recovery drive," said a former managing of an NCB.
BB officials however hope that the NCBs would be able to improve their overall performance including loan recovery on completion the three-year reforms by 2006.
The default loans of private banks
however declined by Tk 50 crore to Tk 4,811 crore as of June 2004, which is 11.2 percent of their total loans.
Among the 30 private commercial banks (PCBs), 13 were able to bring down their default loan amount and some of them achieved remarkable success in cutting bad loans. The default loans in Pubali Bank declined by Tk 162 crore.
Most of the PCBs witnessed minor or no increase in their default loan amount.
In the specialised banks, default loans have gone up by Tk 26 crore to Tk 4,753 crore, which is 47.24 percent of their total loan portfolio.
The foreign banks have also cut their default loans by Tk 68 crore to Tk 104 crore or 1.45 percent of their loan portfolio.