The top 10 defaulters accounted for Tk聽6,600 crore in classified loans, nearly 31 per cent of the Agrani Bank鈥檚 total defaulted loans as of June, according to bank data.
Zakia Group led the list with defaulted loans of Tk 1,210 crore, followed by Jaj Bhuiyan Group with Tk聽1,089 crore, Tanaka Group with Tk 926 crore and Sattar Group with Tk 550 crore.
The list also included Moon Group (Tk 524 crore), Sonali Group (Tk 521 crore), Aristocrat Group (Tk 462 crore), Dhaka Hide & Skins (Tk 457 crore), Pacific Group (Tk聽443 crore) and Saad Musa Fabrics (Tk聽410 crore).
Bank officials said that several large borrowers had rescheduled their loans to avoid being classified as defaulters.
They warned that these borrowers could still default once the next installment period ended, as their financial conditions remained precarious.
The top borrowers of Agrani Bank included Beximco Group, Orion Group and Bashundhara Group.
Their loans remain in regular status at Agrani Bank although these groups were found to be defaulted at other banks.
In June, Agrani Bank鈥檚 total non-performing loans stood at Tk 21,324 crore, with the top 10 defaulters accounting for 30.95 per cent of this amount.
By September, the NPLs further escalated to Tk 26,891 crore, reflecting a deepening crisis.
Agrani Bank chairman Syed Abu Naser Bukhtear Ahmed attributed the surge in the amount of defaulted loans to the previous board of directors, accusing the board of approving loans indiscriminately.
He stated that the board failed to properly assess documents or ensure sufficient collateral, leading to a significant portion of these loans turning into defaulted.
Abu Naser also noted that some reputable business groups became defaulters due to adverse business conditions under the Awami League regime which was ousted on August 5 amid a student-led mass uprising.
He alleged that these groups, which had political connections with opposition parties, faced government-imposed obstacles that forced them to halt operations.
Many of these groups have now approached the bank to reschedule their loans and restart their businesses, he said.
The chairman expressed optimism that the bank鈥檚 current recovery strategies would gradually reduce the NPLs.
The bank鈥檚 capital adequacy ratio against risk-weighted assets stood at just 4.57 per cent as of September, far below the regulatory requirement of 12.5 per cent.
A chartered accountant has been appointed to conduct a special audit to uncover the extent of the bank鈥檚 financial troubles, Abu Naser said.
Bank officials said that influential groups, mainly affiliated with the Awami League, had dominated the bank and were now failing to repay their loans.
This has led to a sharp deterioration in key financial indicators, including the NPL ratio, they said.
As of September, over 35 per cent of Agrani Bank鈥檚 total loan disbursements of Tk聽75,677 crore were classified as defaulted.
The bank鈥檚 total deposits reached Tk 96,928 crore during the same period.
Additionally, Agrani Bank wrote off Tk 5,609 crore in bad loans by September and reported a capital shortfall exceeding Tk 4,606 crore.
Apart from the top ten defaulters, Sahaba Yarn defaulted with Tk 374 crore followed by Navana Furniture Tk 272 crore, Advance Composite Mills Tk 317 crore, Prime Composite Mills Tk 311 crore, Leo Fashion Tk 229 crore, Earth Agro Farms Tk 223 crore, Julia Sweater Composite and MR Sweater Composite Tk 219 crore, Zainab Trading Company Tk 184 crore and Samitex Group Tk 169 crore.