According to the bank's information, as of September this year, the defaulted loans stood at 26,892 crore taka. Of this, 33 percent of the loans are stuck with the top 20 defaulters. As a result, the bank has now become hostage to them.
The bank's new chairman, Syed Abu Naser Bakhtiar Ahmed, told reporters at the head office of Agrani Bank on Thursday.
He said that contact is being made with the top groups to recover the defaulted loans. We are trying to regularize the loans by giving them opportunities within the rules. Everyone is working to turn the bank around.
He said that when I joined as MD in 2004, the bank's equity was about 2,000 crore taka negative. The defaulted loans were more than 2,500 crore taka. And the net profit was negative at Tk 21 billion. However, before he left in 2010, equity was positive at Tk 1,72 billion and defaulted loans decreased to Tk 2,100 crore. And there was a profit of Tk 352 crore.
He further said, now that I have taken charge as chairman again, I see that the bank's condition is fragile. Capital deficit and defaulted loans have increased. This situation has arisen due to improper distribution of loans in the last 15 years. Those who have taken out loans through various irregularities are off the list. The real picture will come out when the audit is conducted in the next two to three months. Then action will be taken against those who have taken out loans through irregularities.
Syed Abu Naser said, we are contacting customers to recover defaulted loans. Some are being recovered. The status of the top 20 defaulters will further decrease. There are no hidden defaulters. I came and did all the defaults that were not committed. I hope the defaulted loan rate will come down from 38 percent to 30 percent. Because rescheduling is being done with a two percent down payment. Everyone is working to put the bank in a good position.
The chairman said, many of the top groups defaulted due to lack of support. Many were good customers during my time. The previous government did not help them because they were businessmen of a political party. But now that they have come, their issue will be looked into. They will be helped within the rules. However, the organization's cash flow must be good and the balance sheet must be strong.
Among the top 20 companies, Zakia Group has 1,210 crore, Judge Bhunja Group has 1,900 crore, Tanaka Group has 926 crore, Sattar Group has 550 crore, Moon Group has 524 crore, Sonali Group has 521 crore, Aerostock Group has 462 crore, Dhaka Hide and Skin has 458 crore, Pacific Group has 443 crore, Saad Musa Group has 410 crore, Sahaba Yarn has 374 crore, Navana Furniture has 272 crore, Advance Composite Mills has 317 crore, Prime Composite Mills has 311 crore, New Fashion has 229 crore, Earth Agro Farms has 223 crore, Julia Sweater Composite and R Sweater has 219 crore, Zainab Trading has 184 crore and Samitex Group has 169 crore.
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