50 top bank loan defaulting cos have Tk 40.82b in bad loans

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Nazmul Ahsan Fifty top bank loan defaulting companies in the country had Tk 40.82 billion in classified loans up to December 31, 2010. The amount was about 18 per cent of the total classified loans of the country's banking system, according to a report of Bangladesh Bank (BB). The loans that the defaulting companies owe to banks have become 100 per cent classified, the report said. Twenty- four commercial banks - state-owned, private commercial banks (PCBs) and foreign banks - are issuers of loans to the defaulting parties, belonging to the private sector. The BB report termed the default loan situation 'alarming'. The loan defaulting companies include: Saleha Carpet Mills Ltd, Ismail Carpet Industries Ltd, Monnu Fabrics Ltd, Magura Paper Mills Ltd, Argan Carpet & Jute Weaving Mills Ltd, Northern Distilleries Ltd, Fair Expo Weaving Mills Ltd, Riverside Leather & Footwear Industries Ltd, Bangladesh Auto Rikshachalak , Shamsul Alamin Cotton Mills Ltd, One Spinning Mills Ltd, Bangladesh Solvent Oil Ltd, Deshma Shoes Industries Ltd, Mawla Textile Mills Ltd, Sripur Textile Mills Ltd, Unity Knitwears, Mask Sweater Composite Ltd, Jadu Spinning Mills Ltd, Kashem Cotton Mills Ltd, Mita Textile Ltd, Rupali Tannery, Lexoco Ltd, Fahim Marble Corporation Ltd, Nirman International Contracting Company, Rahman Ahsan Cotton Spinning Mills Ltd, Javed Steel Mills Ltd, Ark Ltd, Phonix Leather Complex Ltd, Patwary Potato flex Ltd, Sun Fabrics Ltd, Mainamati Textile Mills Ltd, Bhanghuard Steels Ltd, Sharathi Textile Mills Ltd, Excelsior Shoes Ltd, Faridpur Textile Industry Ltd, Gaffer Food Products Ltd, Dragon Sweater & Spinning Ltd, Doel Apparels Ltd, Namnam Bangladesh Associates Ltd, R, M Coil Mills Ltd , Mahbub Leather Complex, Rahnuma Fashion Wear Ltd, Fahima Industries Ltd, Telebarta Ltd, Mahbub Spinning Ltd, SMAN Flexibly Packaging Ltd, RM Coil Ltd and Bikrampur Potato Flex Industries Ltd. Officials in the BB said, about 15 companies of the 50 have defaulted on repayment of loans to more than one bank. "The defaulted loans are equivalent to about 18 per cent of total classified loans in the banking system, which is horrifying under any consideration," a top BB official told the FE. He said the central bank would soon ask the banks concerned to make all-out efforts to realise the classified loans from their errant borrowers. Another senior official of the BB said, about 90 per cent of Tk 40.82 billion in bad loan lies with four State-owned Commercial banks---Sonali, Janata, Agrani and Rupali. Other 20 banks are-Bangladesh Development Bank Ltd, Bangladesh Krishi Bank, City Bank Ltd, National Bank Ltd, Eastern Bank Ltd, UCBL, One Bank Ltd, Southeast Bank Ltd, Jamuna Bank Ltd, NCCBL, Uttara Bank Ltd, Prime Bank Ltd, IFIC, Al-Arafa Islami Bank Ltd, Premier Bank Ltd, Bank Asia Ltd, Pubali Bank Ltd, Dhaka Bank Ltd, AB Bank Ltd and Standard Chartered Bank Ltd.