11 PCBs reduce Tk 500cr classified loans
Some 11 private commercial banks (PCBs) have been able to reduce their non-performing assets by cutting Tk 500 crore classified loans in a single year.
Classified amount of these PCBs was around Tk 2,900 crore in December 2004 but these banks were able to cut Tk 500 crore of the amount by December 2005, senior executives of these PCBs told Bangladesh Bank (BB) at a meeting yesterday. Managing directors and senior executives of following banks were present at the meeting.
1. Pubali Bank Ltd,
2. Uttara Bank Ltd,
3. National Bank Ltd,
4. AB Bank Ltd,
5. IFIC Bank Ltd,
6. City Bank Ltd,
7. Social Investment Bank Ltd,
8. Al-Arafah Bank Ltd,
9. Oriental Bank Ltd,
10.First Security Bank Ltd and
11.Bangladesh Commerce Bank Ltd
Banks eye to lower their average classified amount to 10 percent by December this year, which is now 13 percent. Managing directors and senior executives of the PCBs attended the monitoring meeting with Mohammad A (Rumi) Ali, BB deputy governor, in the chair.
At the meeting the central bank also asked these PCBs to submit their loan status of the 2001-02 financial year within a month. Classified loan of Oriental Bank has come down to 23 percent from 28 percent earlier, Social Investment Bank's 7.4 percent from 11 percent and First Security Bank's 15 percent from 19 percent earlier, meeting sources said.
Oriental Bank was given the problem bank status much earlier but the Social Investment Bank and First Security Bank were given the status in the recent years. According to official statistics, performances of these banks are improving after bringing them under the problem bank unit of the BB.
Classified amount of these PCBs was around Tk 2,900 crore in December 2004 but these banks were able to cut Tk 500 crore of the amount by December 2005, senior executives of these PCBs told Bangladesh Bank (BB) at a meeting yesterday. Managing directors and senior executives of following banks were present at the meeting.
1. Pubali Bank Ltd,
2. Uttara Bank Ltd,
3. National Bank Ltd,
4. AB Bank Ltd,
5. IFIC Bank Ltd,
6. City Bank Ltd,
7. Social Investment Bank Ltd,
8. Al-Arafah Bank Ltd,
9. Oriental Bank Ltd,
10.First Security Bank Ltd and
11.Bangladesh Commerce Bank Ltd
Banks eye to lower their average classified amount to 10 percent by December this year, which is now 13 percent. Managing directors and senior executives of the PCBs attended the monitoring meeting with Mohammad A (Rumi) Ali, BB deputy governor, in the chair.
At the meeting the central bank also asked these PCBs to submit their loan status of the 2001-02 financial year within a month. Classified loan of Oriental Bank has come down to 23 percent from 28 percent earlier, Social Investment Bank's 7.4 percent from 11 percent and First Security Bank's 15 percent from 19 percent earlier, meeting sources said.
Oriental Bank was given the problem bank status much earlier but the Social Investment Bank and First Security Bank were given the status in the recent years. According to official statistics, performances of these banks are improving after bringing them under the problem bank unit of the BB.
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