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HomeNewsIndustrial loan collection increased by 63 percent in one year

Industrial loan collection increased by 63 percent in one year

The negative impact of the dollar-crisis on the industrial sector has begun to fade. As a result, the entrepreneurs of this sector are paying more loans than before. In December last year, both disbursement and collection of term loans to the marginal industry sector received a massive response. In the month of December, the term loan collection was Tk 50 thousand 593 crore, which was Tk 18 thousand 477 crore in the same period of the previous year. Accordingly, the collection increased by 32 thousand 116 crore taka or 63 percent in one year. These informations have been obtained from the latest report of Bangladesh Bank.
According to the report of Bangladesh Bank, 29 thousand 574 crores of loans were disbursed last December. During the same period of the previous year, the disbursement of loans was 18 thousand 772 crores. Compared to that, loan disbursement has increased by Tk 10 thousand 802 crores. Besides, 50 thousand 593 crore rupees have been collected in the quarter of December 2023. 18 thousand 477 crores was collected during the same period of the previous year. Accordingly, the collection has increased by 32 thousand 116 crore taka or 63.48 percent in one year.
Executive President of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) Mohammad Hatem said, ‘The economic crisis is not completely over. Still passing time through various challenges. But working to keep business normal. Dollars are being managed in various ways. But suddenly the interest rates are increasing. This will increase the interest on long-term loans. Taking these into consideration, paying off the debt has given a lot of extra importance. Due to which debt collection has increased. Many people are investing with new loans. Collecting money from other sources and repaying the debt.’
According to the data of the central bank, till December 2023, the total credit status of the industrial sector has stood at 7 lakh 30 thousand 825 crores. Of this, 60 thousand 951 crores have become defaulters. A year ago, defaulted loans in this sector were 49 thousand 223 crores. Accordingly, the default has increased by 23.82 percent during the year. People related to the sector said that the economy of the country turned around after handling the shock of the Covid epidemic. As a result, the industrial sector turned around.

After that another blow came the Russia-Ukraine war. As a result, global economic recession started. After overcoming that, the demand for industrial loans increases. Hence the disbursement of loans to various sectors like industry has increased. At the same time, due to good business, collection has also increased.
According to the data of Bangladesh Bank, the total debt of the banking sector is Tk 14 lakh 77 thousand 788 crores. Of this, Tk 1 lakh 34 thousand crore is bad or defaulted loans, which is 8.16 percent of disbursed loans. Out of this default in the industrial sector is Tk 60 thousand 951 crore. So currently 50.52 percent of the total defaulted loans in the banking sector is the liability of the industrial sector. Bangladesh Bank Spokesperson and Executive Director Md. Majbaul Haque said that the increase in loan disbursement is not a bad thing.

If the debt increases, the growth of the country increases. Jagan’s new source of income is created. However, how much debt is being recovered has become the main issue. If the debt is not collected, there will be a negative impact on this sector, about which many fears arise.’