Dhaka Evening News

Classified loans in banks, financial insts: Muhit

The amount of classified loans in the country’s banks and financial organisations stood at Tk 63,435 crore in September last, Finance Minister AMA Muhith told Parliament on Monday.

According to Bangladesh Bank’s statement, the amount of classified loans in the banks was Tk 58,877 crore, which is 9.26 percent of the total bank loans in the country, till the period, he said replying to a starred question from Awami League MP Nasima Ferdushee (Women Seat-13).

Besides, the amount of classified loans in the financial organisations was Tk 4,558 crore, which was 8.94 percent of total loans, the minister added.

During the period, bad or default loans amounting to Tk 34.438 crore and Tk 32 crore were written off by the banks and financial organisations respectively, the minister said.

As per the CIB database of Bangladesh Bank, a total of 213,532 individuals and companies were defaulters in the banks and financial institutions in November 2016, he said.

In reply to another starred question from independent MP Md Abdul Matin, Muhith said the scheduled banks disbursed some Tk 9,933 crore as agricultural and rural loans at the rate of maximum 10 percent interest in the first six months of the current fiscal year.

But farmers will have to pay only 4 percent interest against their loans taken for cultivation of pulse, oilseed, spices and corn as the government provides 6 percent interest as subsidy, he added.

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