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Dhaka Tribune

Five state banks seek Tk3,500cr to meet capital shortfall

Update : 18 Apr 2015, 06:36 PM

A fund of Tk3,500 crore is likely to be injected into five state-owned specialised banks to meet the demand of their capital shortfall for the current fiscal year, according to a source close to the Banking Division.

The five commercial banks are Basic, Bangladesh Krishi Bank (BKB), Rajshahi Krishi Unnayan Bank, Palli Sanchay Bank and Grameen Bank.

The funding decision came at the banking division meeting last week.

Bank and Financial Institutions Division secretary M Aslam Alam presided over the meeting.

“We are now preparing the proposal of capital shortfall of the five state-owned specialised banks for this fiscal year,” Aslam told the Dhaka Tribune yesterday. 

He also said the rest of current fiscal year budget fund will be used to meet the capital shortfall.

According to preliminary estimation, the capital shortfall of Basic Bank stood at Tk3,000 crore, BKB Tk6,643.80 crore and RKUB Tk884.56 crore at the end of December 2014.

Palli Sanchay Bank needs Tk125 crore while Grameen Bank Tk0.58 crore for improvement of their capital base.

Basic Bank will receive Tk2,000 crore while BKB Tk1,000 crore and RKUB Tk374.43 crore for the current fiscal year to meet their capital shortfalls as per the proposal of Banking Division. 

The Finance Division injected Tk1,500 crore to meet the shortfall of Sonali Bank and Basic Bank a couple of months ago. The fund was disbursed from current fiscal year budget allocation.

In previous fiscal year, the Finance Ministry injected around Tk4,100 crore into the four state-owned commercial banks to help them meet their capital shortfalls on condition that the banks would go through credit risk-related reforms. 

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