Default loans hit 27-month high

The banking sector's default loan logged an increase of Tk 10,167 crore in the first three months of this year from the previous three months, according to the latest Bangladesh Bank data.

The overall default loans stood at Tk 113,441 crore as of March this year, up 19.30 per cent year-on-year and 9.84 per cent up from the three months ago period.

BB officials said the rise in habitual defaulters along with the withdrawal of relaxed policy on loan classification policy has escalated the default loans in the first quarter.