Home Scam/Fraud Three defaulters cruising on Janata loans

Three defaulters cruising on Janata loans

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Highlights:

  • Janata Bank’s total default loans amount to Tk13,509 crore
  • AnonTex Group accounts for Tk6,629 crore of loans
  • Crescent Group defaulted Tk1,896 crore
  • Remix Group owes Tk1,078 crore to Janata

State-owned Janata Bank has been reeling under financial stress, mainly because of three business groups that account for almost half of the bank’s total default loans. 

As of June this year, the bank has default loans amounting to Tk13,509 crore, while the three groups – AnonTex Group, Crescent Group and Rimex Footwear – defaulted on 48.56% or Tk6,629 crore of the amount, according to the bank’s credit risk assessment and resolution report sent to the Bangladesh Bank recently.

Janata Bank provided loans amounting to Tk6,607 crore to 22 business entities of AnonTex Group, the bank’s biggest defaulter, breaching the single borrower exposure limit. 

Of the total amount, the group’s two entities took out Tk255.48 crore from…

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