Default loans decreased last year by Tk 17,737 crore: finance minister | The Daily Star
04:00 PM, January 25, 2021 / LAST MODIFIED: 04:02 PM, January 25, 2021

Default loans decreased last year by Tk 17,737 crore: finance minister

Finance Minister AHM Mustafa Kamal today said that the amount of default loans in the banking sector decreased, riding on the rules and regulations which were relaxed by the central bank.

Non-performing loans (NPLs) decreased by Tk 17,737 crore in one year till September 2020, he said replying to a question in the parliament.

The outstanding classified loans stood at Tk 94,440.47 crore as of September last year, according to data from the central bank.

"The central bank has relaxed several polices of loan classifications, helping reduce default loans," Kamal said.

A relaxed rescheduling facility was offered to defaulters in 2019 that allowed them to regularise NPLs by way of giving two percent down payment, which decreased classified loans in banks.

"In addition, the central bank also declared a loan moratorium throughout last year to tackle the economic situation stemming from the coronavirus pandemic," Kamal said.

Banks have also been asked to form monitoring cell in order to recover NPLs from top defaulters, who have NPLs worth over Tk 100 crore.

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