Top 20 loan defaulters named in parliament
A list of the country’s top 20 loan defaulters was disclosed in parliament on Monday as defaulted loans rose sharply to Tk5,44,831.88 crore by the end of December 2025, raising fresh concerns over the stability of the banking sector and recovery efforts.
The disclosure was made as part of the government’s initiative to improve transparency and strengthen loan recovery mechanisms.
Finance Minister Amir Khosru Mahmud Chowdhury presented the list in a written reply to Cumilla-4 MP Md Abul Hasnat (Hasnat Abdullah), detailing the names of major defaulters and outlining measures being taken to address the growing non-performing loan (NPL) problem.
According to the parliamentary transcript, the list includes several large corporate entities, among them S Alam Super Edible Oil, S Alam Vegetable Oil Mills, S Alam Refined Sugar Industries, S Alam Cold Rolled Steels, Sonali Traders, Bangladesh Export-Import Company Ltd, Global Trading Corporation, Chemon Ispat, S Alam Trading (Pvt) Ltd, and Infinite CR Strips Industries.
Other companies named in the list include Keya Cosmetics, Deshbandhu Sugar Mills, Power Pac Mutiara Keraniganj and Jamalpur Power Plants, Pacific Bangladesh Telecom, Karnafuly Food Products, Murad Enterprise,
CLC Power, Beximco Communications, and Rongdhanu Builders (Pvt) Ltd.
Nine of the top 20 defaulters belong to the S Alam Group, chaired by Saiful Alam, which has been under scrutiny over alleged financial irregularities and large-scale loan defaults.
Authorities have previously raised concerns about the group’s control over several banks, alleged use of shell companies to move funds, and unsecured borrowing that placed pressure on the banking system.
Investigations into suspected money laundering and offshore asset acquisitions are ongoing.
Following the political transition in 2024, authorities froze several accounts linked to the group in an effort to recover defaulted loans.
The Anti-Corruption Commission (ACC) has filed cases accusing the group of embezzling Tk62.43 billion from Janata Bank and diverting around $12 billion through irregular loans.
In January 2026, a Dhaka court ordered the seizure of 1,936 acres of land and 431 decimals of property linked to the family. Meanwhile, Saiful Alam’s international arbitration claim has been challenged by law enforcement actions, including Interpol Red Notices seeking his extradition from Singapore.
In his statement, the finance minister outlined several measures aimed at reducing defaulted loans and improving recovery.
These include quarterly meetings with banks holding more than 10 per cent classified loans, regular progress reviews in bankers’ meetings convened by Bangladesh Bank, and stricter guidelines for resolving non-performing loans.
Banks have been instructed to identify willful defaulters and strengthen their legal teams to accelerate recovery.
Financial institutions have also been directed to achieve at least 1 per cent cash recovery by 30 June through alternative dispute resolution mechanisms.
Additional steps include updating credit risk management guidelines, improving collateral valuation through approved firms, and implementing expected credit loss-based provisioning in line with international standards.
The government is also considering amendments to key financial laws, including the Bank Company Act 1991, Negotiable Instruments Act 1881, Artha Rin Adalat Act 2003, and Bankruptcy Act 1997, to strengthen the legal framework for loan recovery.
Policy initiatives under review include publishing lists of willful defaulters, rescheduling agricultural loans, limiting excessive borrowing by single entities, incentivising regular borrowers, and establishing private asset management companies to manage distressed assets.
The disclosure of the top defaulters in parliament signals a renewed push by the government to address mounting defaulted loans and restore discipline in the banking sector amid growing economic pressure.
