SoBs asked to reduce bad loans

The Ministry of Finance has asked state-owned banks to reduce bad loans, the secretary of banks and financial institutions S Aslam Alam informed it Tuesday.

The Banking and Financial Institutions Department of the Ministry of Finance asked Sonali, Janata, Agrani, Rupali to meet with the chief executives of the banks. Other senior officials of the Department were present on the occasion.

According to the meeting, the department also asked to maintain more restriction to reduce bad loans from now onwards.

At the end of December, the specialized Basic Bank and the state owned other four banks’ bad debts stand at 22 thousand 263-core taka and the rate stand of 22.23 percent.