Private sector credit growth increased further in March over the previous month due to improving trend of the country's political situation, officials said.
The growth in private sector credit flow rose to 13.63 per cent in March from 13.61 per cent in February. It was 13.33 per cent in January, 2015.
"We expect that the rising trend of private sector credit growth will continue in the coming months, if the political stability continues," a senior official of the Bangladesh Bank (BB) told the FE Thursday.
The total outstanding loans with the private sector rose to Tk 5526.68 billion in March 2015 from Tk 4863.78 billion in the same month of the previous calendar year, the BB data showed.
Talking to the FE, a senior official of a leading private commercial bank said the private sector credit growth increased slightly in March because of higher import of different products ahead of the holy Ramadan.
Opening of letters of credit (LC) against imports, generally known as import orders, jumped by more than 30 per cent to US$ 3.97 billion in March from $3.05 billion in February 2015.
On the other hand, the settlement of LCs, generally known as actual imports, surged by over 23.16 per cent to $3.34 billion during the period under review from $2.71 billion in the previous month.
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Pvt sector credit growth marks rise in March
Siddique Islam | Published: May 08, 2015 00:00:00 | Updated: November 30, 2024 06:01:00
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