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State banks report healthy performance, says Janata Bank MD Abdus Salam Azad-559072
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Banks provision shortfall widens | The Daily Star
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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.
The number of these accounts also rose to 71,346 last year from 62,710 in 2019.
The Daily Star talked to a number of bankers, tax officials and analysts, who pointed out that there is a strong link between the deposit growth and the opportunity given to whiten black money.
They also referred to the reduced scope for laundering money abroad amid the Covid-19 pandemic and also cap on investment in national savings certificates.
In the current fiscal year, the government gave the opportunity to whiten black money by declaring undisclosed wealth and income in tax returns upon payment of only 10 percent tax on the undisclosed amount without any questions about the sources of income.
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