State-owned banks Sonali, Janata, Agrani, Rupali, Fundamental Financial institution and Bangladesh Construction Financial institution (BDBL) were operating with no Managing Director (MD) for just about a month. On September 19, the Ministry of Finance despatched a letter to cancel the contracts of MDs of six organizations. On this state of affairs, the chairmen of the establishments have asked to temporarily appoint new MDs within the state-owned banks.
On Monday (October 14), Finance Marketing consultant Dr. They made this request through assembly Salehuddin Ahmed. Sonali Financial institution Chairman Mohammad Muslim Chowdhury, Agrani Financial institution Chairman Syed Abu Nasser Bakhtiar Ahmed and Rupali Financial institution Chairman Nazrul Huda participated within the assembly.
The chairman of a financial institution who met with the monetary adviser mentioned that they (the chairman of state-owned banks) have asked to nominate MDs in state-owned banks temporarily. In view of that, the monetary consultant mentioned that he’s going to glance into the topic. Alternatively, Finance Marketing consultant Salehuddin Ahmed didn’t say anything else when requested concerning the assembly of the chairmen of state-owned banks.
In the meantime, on September 19, the monetary establishments division of the Ministry of Finance despatched a letter to the board of administrators of six state-owned banks canceling their contracts. Since then the MDs of the banks are not in place of job.
One of the crucial retired govt officers and DMDs have began operating as MDs of those banks. However, the board and control of public sector banks has been restructured through the Monetary Establishments Division.
A few of the govt banks, Fundamental Financial institution and Janata Financial institution are in a delicate state. 65 p.c of Fundamental Financial institution’s loans have already defaulted, amounting to Tk 8,256 crore.
Ultimate June, Janata Financial institution’s non-performing mortgage charge stood at 52.00 p.c or 48 thousand crore rupees. In the meantime, defaulted loans have exceeded 70 p.c. Beximco Crew’s debt to the financial institution is Tk 25 thousand crores, S Alam Crew’s debt is set Tk 10 thousand crores.
On the finish of remaining June, the speed of defaulted loans in Agrani Financial institution used to be 30 p.c or Tk 21 thousand 324 crore. About 15 p.c of Sonali Financial institution’s overall loans are in default, which previous went to a number of establishments together with Hallmark. At the present, the chance of default has lowered for Sonali. And Rupali Financial institution’s defaulted mortgage is 23 p.c or Tk 10,463 crore.
MAS/MAH/JIM
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