All of a sudden, banks are facing an acute liquidity crisis and in the last one week, banks loaned around Tk 35 billion from the Bangladesh Bank.
Bank officials say that with holidays coming, beginning with Christmas, national elections and the new year, there will be a demand for cash.
According to Bangladesh Bank information, Dec 25 is Christmas, 28 and 29 are weekly holidays, Dec 30 is a holiday for the national election and Dec 31 is a bank holiday.
This means, of the last seven days of 2018, banks will be closed for five.
Dhaka Bank’s MD Syed Mahbubur Rahman told Bangla Tribune, “With holidays, demand for cash has risen.”
Last week, the highest loan was taken by AB Bank, which is Tk 4 billion crore, followed by Eastern Bank, Tk 1.83 billion, Trust Bank, Tk 0.5 billion, One Bank, Tk 2 billion, National Bank, Tk 0.98 billion.
Bangladesh Bank information states that from September 2016 till September 2018, banks distributed over Tk 2.42 trillion as the loan. During this time, banks’ investment was over Tk 1.64 trillion. Which means, in the two years mentioned, banks had to take a loan of Tk 777.41 billion.
According to Bangladesh Bank’s statistics, more than 30 banks are running on loaned money while several banks cannot retain capital.
According to Bangladesh Bank, default till last September stood at Tk 993.7 billion, which was Tk. 890 billion till June.