Huge losses eclipse state banks’ progress in trimming bad loans
Janata gets 4 years to plug Tk 5,475 crore capital shortfall
Six state-run banks' progress in bringing down the defaulted loans last year on the back of recovery and the payment holiday was overshadowed by a large volume of net losses.
Sonali, Janata, Agrani, Rupali, BASIC Bank and Bangladesh Development Bank Ltd (BDBL) collectively had a net loss of Tk 4,949 crore in 2020, in contrast to a net profit of Tk 89 crore a year ago, data from the Bangladesh Bank showed.
The net profit situation would have been better if Janata and BASIC Bank had not faced a large volume of net loss.