The state-owned bank's failure to meet any of the performance targets set by the central bank raises a red flag.
In the banking sector of Bangladesh, exemptions from rules and regulations for powerful loan defaulters seem to be the default rules.
Janata Bank must answer for its poor handling of AnonTex’s loans
Troubled state-run lender Janata Bank continues to be overly lenient towards AnonTex Group, one of its five large borrowers, despite negligible loan recovery in 13 years from the garment manufacturer.
State-owned Janata Bank indulged in 31 counts of “serious financial irregularities” from 2015 to 2020 involving Tk 13,110.8 crore, which is 22.85 percent of the lender’s liabilities, found a recent audit.
On edge -- is what best describes the sensation surrounding the banking sector. But the Bangladesh Bank higher-ups were warned as early as October 2021 that such a situation might transpire. Yet, no definitive action was taken then.