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'Bankers should be more active to reduce bad loans'

Published: May 28, 2019 19:45:50 | Updated: June 14, 2019 12:12:08


Bangladesh Bank (BB) Governor Fazle Kabir has said the bankers should be more active to reduce the bad loans in the banking sector.

“In 2018, the capital adequacy and liquidity of the banking sector was more than the minimum required rate. Bankers should maintain the highest caution to reduce the bad loans in the banking sector,” he said.

The central bank governor made the remarks on Tuesday while launching the BB’s annual “Financial Stability Report 2018” at the central bank’s headquarters in the city, reports BSS quoting a press release.

BB senior officials and chief executives of banks and financial institutions were present at the report launching ceremony.

In spite of the global slowdown and the relative risks, Fazle Kabir said, the overall macroeconomic situation of Bangladesh is stable due to growth oriented policy supports as well as the strong fiscal management in the country.

As one of the fastest growing economies in the world, he said, Bangladesh is now more involved with the world economy compared to any previous time.

“Many changes in financial, trade and politics around the world create opportunities for us,” he said and suggested the financial service providers to remain deeply focused on the pace and nature of various changes in the world economy.

According to the report, the domestic macro-economic situation was stable in 2017-18 financial year (FY18).  A real GDP growth of 7.9 per cent was recorded in FY18 against the growth of 7.3 per cent recorded in FY17.

At the end of 2018, inflation was 5.5 per cent while foreign currency reserve was $32 billion.

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