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Janata's great leniency to an errant client

Troubled state-run lender Janata Bank continues to be overly lenient towards AnonTex Group, one of its five large borrowers, despite negligible loan recovery in 13 years from the garment manufacturer. ....

United Kingdom , Salehuddin Ahmed , Younus Badal , Mahfuzur Rahman , Janata Bank , Anontex Group , Crescent Group , Bangladesh Bank , New Look , Abdul Jabber , Daily Star ,

AnonTex seeks favour to reschedule loans


AnonTex seeks favour to reschedule loans
Wants to regularise Tk 3,742cr at a low down payment; Janata’s board to decide fate tomorrow
AnonTex Group, which was given Tk 5,500 crore in loans by Janata Bank breaching rules, has applied to the state-owned lender to reschedule its defaulted loans of Tk 3,742 crore.
The garment manufacturer sent a letter to the bank in the first week of December to reschedule the non-performing loans (NPL) by giving a lower down payment than the actual amount set by the central bank.
Janata s management will place the issue to its board of directors at a meeting tomorrow. If the board approves the proposal, the bank will send it to the central bank to avail the no-objection certificate.  ....

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