2020-02-06 20:08:00 BdST
Sonali’s Tk28,706cr loans stuck in legal tussle, says its CEO
The bank arranged an exchange meeting with a group of Journalists at its head office at Motijheel
The bad loan of Sonali Bank stuck in lawsuits with the High Court and Money loan Court was Tk28,706 crore as of last year.
The state-owned bank filed 18,903 lawsuits against the defaulters to recover the stressed loan, said Sonali Bank Managing Director and CEO Md. Ataur Rahman Prodhan on Wednesday.
The bank arranged an exchange meeting with a group of Journalists at its head office at Motijheel.
Besides Ataur Rahman Prodhan, deputy managing directors, general managers and other officials were also present at the briefing meeting.
He said that the non-performing loans (NPLs) of this bank would be reduced to single digit by the end of this year as the bank was now focusing on loan recovery.
At the end of September last year, the total non-performing loans of Sonali Bank stood at Tk12,747.04 crore (29.27% of its total outstanding loans), according to the Bangladesh Bank data.
Sonali Bank Managing Director said that already the bank was able to reduce the NPLs to 19% at the end of December last year, from 29% in September.
Last year, the bank recovered Tk3,000 crore from defaulters and another Tk2,600 crore through the loan rescheduling policy, he said.
“We are trying to keep the stock market vibrant. Despite the unstable situation, Sonali Banks’ operating profit stood at Tk1,730 last year. It was a great achievement for us,” he explained.
Ataur said, “We will reach the top position this year by ensuring quality services to the customers.”
He explained that the Sonali Bank had been providing services to remote areas of the country to implement various development plans of the government, especially on social safety net schemes.
The bank was providing 37 types of services to its clients without any fees, he added.
Despite various limitations, the bank was playing a significant role for development of industrial and agricultural sectors in the country after liberation war, Ataur Rahman Prodhan said.
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