National Bank officials stage sit-in demanding repayment of defaulted loans
Among the Tk400 crore loan, the bank could not recover Tk220 crore from M/S Masud Brothers and Tk180 crore from Rubi Food Products, two companies owned by the group, the bank officials said
Officials of National Bank's Khatunganj Branch staged a sit-in in front of the office of BSM Group in Chattogram demanding the recovery of defaulted loans today (5 December).
During the sit-in, bank officials claimed BSM Group did not repay Tk400 crore they had taken from the bank as loans.
Among the Tk400 crore loan, the bank could not recover Tk220 crore from M/S Masud Brothers and Tk180 crore from Rubi Food Products, two companies owned by the group, the bank officials said.
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Stating the loans as pending for a long time, Principal Officer of National Bank's Khatunganj Branch Md Abu Faruki said, "Finally the bank officials have come out on the street to take legal steps against the group and build up social resistance."
"BSM Group is one of the top 10 loan defaulters of the bank," Faruki added.
Bank officials further said the bank is facing liquidity crisis, obstruction in normal operations and crises in the banking activities due to bad loans worth thousands of crores of taka owed by various groups.
The bank has been able to recover Tk800 crore from various companies from last September by putting up social resistance, the bank officials added.
