Default debt increases to Tk 1.1344 trillion by third quarter of FY22

The size of defaulted debt in Bangladesh has increased to Tk 1.1344 trillion by the third quarter of the current fiscal (FY 2021-22), a Tk 101.67 billion jump alone from the second quarter.

Confirming the figure, Md Serajul Islam, spokesperson for the Bangladesh Bank, said the amount was Tk 1.0337 trillion by the end of the second quarter in December last year.

The default loan rate stood at 8.53 percent at the end of the third quarter, which rose from 7.93 percent at the end of the second quarter, according to the central bank data released on Sunday.

The amount of loan disbursed in the second quarter was Tk 13.018 trillion while at the end of the third quarter, the amount stood at 13.2974 trillion.

State-owned banks bear the brunt of default loans the most, at 20 percent, while private banks account for 5.84 percent, foreign banks 4.53 percent and specialised banks for 12 percent.