BKB’s losses up 78pc in FY23

Business Report :
Bangladesh Krishi Bank (BKB), a state-owned lender, reported a 78 percent year-on-year increase in losses for the fiscal year that ended on June 30, 2023.

The bank’s net loss was Tk 2,384 crore, up from the previous financial year’s loss of Tk 1,336 crore. Rising interest payments on deposits and loans contributed to the loss, according to the financial statements of the bank.

The classified loans, which are at risk of defaulting, kept rising. The government-owned lender’s classified loan was Tk 6,500 crore, which was 21.51 percent of its total debts.