The amount of defaulted loans in the country鈥檚 non-bank financial institutions was 33 per cent of the sector鈥檚 total loans in June 2024, as the sour loans surged by Tk聽4,760 crore in a year.
According to Bangladesh Bank data, the total outstanding loan amount in the NBFIs increased to Tk聽74,533 crore at the end of June compared with that of Tk聽72,150 crore in the same month in the previous year.
The total amount of defaulted loans in the NBFIs soared to Tk聽24,711 crore in June 2024, which was Tk聽19,951 crore in the same month in 2023.
The NPL in the NBFIs was Tk聽23,900 crore in March 2024.
Therefore, 33 per cent of the total outstanding loans was found to be defaulted in June 2024, which was 32 per cent in March 2024.
Banks鈥� defaulted loans surged to Tk 2,11,391 crore in June from Tk聽1,82,295 crore at the end of March, Tk 1,45,633 crore in December 2023.
The total loans disbursed by banks were Tk 16,83,396 crore, with 12.56 per cent of the loans classified as non-performing.
The NPL in the sector has continued rising as the NBFIs have kept failing to recover the loans.
NBFI officials said that due to the current economic situation in the country, some failed to repay their loans in a timely manner.
Besides, the NBFIs suffered a deposit contraction at a time when the country鈥檚 banks posted a growth in deposits.
The sector continues suffering from lack of trust and confidence among customers as the entities are failing to pay depositors鈥� money, NBFI officials said.
Depositors lost confidence due to various irregularities and scams in a number of NBFIs, making it difficult to obtain new deposits, BB officials said.
There are 35 non-bank financial institutions operating in the country, but only a few are performing well, they said.
The amount of defaulted loans in People鈥檚 Leasing and Financial Services, Bangladesh Industrial Finance Company, Fareast Finance, International Leasing and Finance and First Finance was more than 90 per cent of their respective loan disbursements.
Deposits in the country鈥檚 non-bank financial institutions were Tk聽45,116 crore in June.
