Non-Performing Loan (NPL) in Bangladesh: Measures to Reduce and It?s Effectiveness

Executive Summary

A loan which has already turned default or close to being defaulted is named Non performing loan (NPL) which means when a bank fails to collect the interest payments or the principal amount then that loan is considered to be non-performing loan. The GDP growth rate of Bangladesh for 2018-2019, officially estimated at 8.1 per cent and it was higher than the previous fiscal year’s rate of 7.9 per cent. On the other hand the non performing loan rate is raising day by day. It reached 10.8 percent in March 2018 which was 9.31% in December 2017. In developed nations only 2% of a bank’s loans is allowed to be non-performing loan whereas in Bangladesh it’s over 10% which is not accepted. Greater level of non-performing loan may be the reason of financial suffering. In some circumstances banks choose to lend to the sectors that have higher risks in order to make extra profit as the highly-risky sectors can be charged with greater interest rate. Though the highly-risky divisions can provide greater interest income there are high potentials of failure to collect the refunds of both the interest and principal in a timely manner. To analyze the basic reasons of non-performing loans we can adjust the policies to control non-performing loans. The causes are divided into 3 other types to get a clear idea from this study to control the non-performing loans. Effects of NPLs causes, Efficiency problem for the banking sector, Stopping Money Cycling, Capital Erosion, Increase in Loan Pricing, Earning Reduction and Frustration etc. Thus, the values of safety are enlarged and the risks of financial recession also get a rise. When high Non-performing Loan levels upset an adequately large number of banks, the financial system discontinues functioning typically, and banks can no longer deliver credit to the economy. A quick recovery can be useful for the financial market which helps from not functioning and it helps the bank from failing among banks. In such situations, Banks usually step in to the crisis response. At this stage, bank authority tries to adopt strategies for the resolution of Loan problems in the Bank. Some strategies that banks follow to reduce the NPL are discussed in this report.

Introduction

A loan that is in default or close to being in default is called a Non-performing loan (NPL). A higher NPL shows the inability rate of a bank to recover its loans from the clients. It is an acute problem of the banks of Bangladesh now a days. This report will discuss the Non- Performing Loans along with the reasons and resolution. For analysis the information will be collected from six State Owned Commercial Banks (SCBs), thiree specialized banks, fortyone private commercial banks (PCBs) and from nine Foreign Commercial Banks (FCBs). I will try to show a comparative analysis of different bank’s NPLs . As Non-Performing Loans are an acute problem of the banks of Bangladesh now a days, I will try to find out why and for what reason NPLs is occurring and what are the direct or indirect outcome to the economic growth of the country.

Research Questions

●    What is the scenario of non-performing loan in Bangladesh and what are the default rates of different banks?

●    What are the reasons behind the non performing loans/ default loans?

●    How can we find the proper solution to reduce default rates of different banks?

Objective of the study

For having a clear understanding about the present scenario of the default loan in the banking industry of Bangladesh we need to analyze the NPL loans of the banks that is highly alarming now a days and top discussed in the media. So The first objective is to have the clear understanding of the present condition of the NPLs of Bangladeshi banking industry. Secondly to find out what are the causes that drives loan to NPLs. By doing so, we can find out the trend of NPLs in near.

Methodology

This report is mostly prepared by the secondary sources of evidence and some primary sources of information. The research was an empirical approach and data gathering and study are qualitative in nature. In this report there is used different financial statistics, theoretical research, personal observation through media and online financial news, different financial report provided by recognizing financial institute and newspaper. 

I have collected information and necessary data from two sources:

1. Primary sources

2. Secondary Sources

Primary Sources

As mentioned earlier that primary amount of data used in our report is our personal observation from the interview of different recognized economist as well as some related articles. I have interviewed bankers from different banks also some of independent researchers which has been used as a primary source of data.

Secondary sources

The report is mainly based on secondary information and data available from different sources. I took help from different academic books, websites, journals, online newspaper, and conference report, some national and economic report and so on. I used only those information which was related to the report topics.

Some of the source are Annual report of Bangladesh Bank, Different economic related websites which provide information about default loan or NPL in Bangladesh, Economist speech on non performing loan in Bangladesh, Government report on Bangladesh economic perspective, Annual report of different Banks, Financial journal on investment and Bangladesh, Online news related to Bangladesh economy, adequate knowledge from our textbook and other banking books to know about more on investment banking and its activities, Daily Newspapers, journals and books & various write up of Economic & Business  Research Library, Monthly review of DSE & CSE, General Information, Materials & documents of Banks annual report, Bangladesh Bureau of Statistics.

Background of the Study:

The report has been written to find out the real scenario of Non-Performing Loan in Bangladesh. Other reason is to assess the importance to reduce it and the prospects of the banking sector of Bangladesh. The topic is assigned to me for fulfilling the requirement of MBA program in the Department of Accounting and Information System under Faculty of Business Studies at the University of Dhaka. Dr. Yousuf Kamal, Professor of Accounting and Information system of University of Dhaka, has supervised me to complete the report. The thesis paper is basically for the fulfillment of partial requirement of my MBA degree. But the other causes are from the curiosity of knowing the fact that Bangladesh is doing very well economically. The GDP growth rate of Bangladesh for 2018-2019, officially estimated at 8.1 per cent and it was higher than the previous fiscal year’s rate of 7.9 per cent. On the other hand the non performing loan rate is raising day by day. It reached 10.8 percent in March 2018 which was 9.31% in December 2017. In developed nations only 2% of a bank’s loans is allowed to be non-performing loan whereas in Bangladesh it’s over 10% which is not accepted. When the GDP is rising, why is NPL is increasing too?

Literature review:

Time to time many researchers have worked on analysing about Non performing loan basis on the economy of Bangladesh and sometimes other researchers worked on it the basis of other countries. Nonperforming loans in the banking sector of BD, realities and challenges of NPLs in BD, Impact of supervisions in controlling NPLs are some frequent topics of articles published in reputed journals in our country in recent years (Lata, 2014).

In recent years, the literature on non-performing loans has occupied the interest of many authors notably the eye in understanding of the variables prone to the monetary vulnerability (Khemraj and Pasha, 2009). This vulnerability is explained by the role of bad debt as exposed by the strong relationship between NPL and banking crises. Indeed, Sorge (2004) argues that the use of such variables (non-performing loans and loan losses provisions) to assess the vulnerability of the financial system tests. 

Lata (2014) told that NPLs in Bangladesh is a very frequently discussed topic in recent years. Non performing Loan has started to increase with an evil trend of loan embezzlement among the industrial borrowers in our country. Frequently scam series in the banking industry is obviously a red signal and unfortunately the state owned commercial banks (SCB) are highly surrounded by it. It is the right time to understand the effect of it on the performance of banks and to take initiative to solve it. The result represents that NPLs as a percentage of total loans of SCBs is very high and they hold more than half of total NPLs of the banking industry for the last 8 years.

The causes of nonperforming loans are usually attributed to the lack of effective monitoring and direction on the part of banks, lack of effective lenders recourse, weaknesses of legal infrastructure, and lack of effective debt recovery ways (Adhikary, 2006). There is no global customary to outline non-performing loans at a sensible level. Variations exist in terms of the system, the scope, and contents. Such problem potentially adds to disorder and uncertainty in the NPL issues. Non-performing loans have non-linear negative effect on banks’ lending behavior (Hou & Dickinson, 2008).

An assumption related to mismanagement advanced by Berger and DeYoung (1997), managers do not have the abilites to assess and control risks once loans are granted to new customers. The authors studied during case the existence of a causative link between loan quality, profitableness and capital of banks which using a sample of U.S. commercial banks for the period 1985-1994. The loan performance is place into relation with macroeconomic indicators like a nominal Interest rate, rate of inflation, change in GDP, economic progress,

unemployment state, and the difference in terms of trade. One of the problems of such

approach, taking macroeconomic variables as exogenous is that they’re at the same time tormented by a distress in the banking sector. (Foglia, 2008).

Tracey (2011) discussed the impact of Non-performing loans (NPLs) on loan growth. In making lending choices, banks are assumed to react differently to NPL ratios above or below a threshold, with NPLs higher than the edge having an unfavourable effect on lending. The results suggest a threshold vary for NPLs as determinant of differential loan behavior of banks. The implication is that bank lending behavior could hinder economic activity, especially in periods of stress when NPLs are high.

The efficiency of profitability of large commercial banks is affected by accounting for non-performing loans. It is found that although non-performing loan are negatively related to bank’s efficiency of profitability, it is not statistically that significant (Fan and Shaffer 2004). All of the selected independent variables (Real GDP per Capita, Inflation, and Total Loans as independent variables) have vital impact on the dependent variable (Non-Performing Loan Ratio), however, the values of coefficients are not much high. Banks should control & modefy their credit advancement policy with respect to mentioned variables to possess lower non-performing loan ratio (Saba, Kouser & Azeem 2012). Baum et. al (2002) has investigated empirically the link between bank lending and macroeconomic uncertainty using annual and quarterly U.S. bank level data. They finished to a point that in the presence of greater macroeconomic uncertainty, banks collectively become more conservative, & this kind of action will lead to a narrowing of the cross–sectional distribution of banks’ loan–to–asset (LTA) ratios.

Evelyn (2011) researched on some factors that cause NPLs in Commercial Banks in Tanzania and found the use of funds for purposes different from agreed ones which is a major factor that cause NPLs. By creating associate to nursing setting to form banks seen as downside solvers and trusted advisor to borrowers was cited as the main strategy towards solving NPLs problems. Findings suggest that close monitoring of borrowers is critical to lending business. Weak credit analysis might have also been caused by unfaithful staff (though it was found out to be a minor contributing factor). Fernandez et al., (2000) and Waweru & Kalani (2009) found that most of the banking crises have directly led to the inadequate credit risk management by institutions and lack of skills amongst loan sells officials respectively.

Ekanayake and Azeez got form their study (2015) based on Sri Lankan that banking industry showed that non-performing loans will increase whenever the efficiency of a bank worsen. Within the study of Zelalem (2013) got that was conducted on the Ethiopian commercial banks return on asset was used as a proxy for financial performance in different words performance efficiency. Therein study the link between NPL and loan to assets magnitude ration of a bank was all examined and therefore the relationship was shown as negative. Another study associated with NPL conducted by Louzis (2012), showed that the number of NPLs in Greek industry is significantly influenced by each the management quality of the banks and therefore the economic forces of the country. Same conclusion was conjointly drawn by Mehmood (2013) and his study was performed supported by thirteen commercial banks(CBs) of Pakistan and he selected time period from 2003 to 2012 for conducting his research.

According to the study of Eurak (2013) that was written on the banking system of South Europe it absolutely was complete that top rate of interest, economic worsening associated with the high inflation rate was the main causes of upper non-performing loans in an economy and the study was also done based on sixty nine banks from 10 different countries. Different factors that influenced the credit risk of bank are the size, performance and financial condition of the bank as these factors are influential to the NPL of the bank.

NPL and Different Aspects of NPL:

NPL as per Bangladesh Bank:

A loan which has already turned default or close to being defaulted is named Non performing loan (NPL) which means when a bank fails to collect the interest payments or the principal amount then that loan is considered to be non-performing loan. A loan that is substandard (SS), doubtful (DF), or bad-loss (BL) as per the guideline of loan classification according to the Bangladesh Bank’s definition is considered as non-performing loan. The customers to whom the non-performing loans were sanctioned is called to be the classified customers.

NPL as per IMF:

According to IMF,‘A loan is non-performing when payments of interest and principal are past due by 90 days or more, or at least 90 days of interest payments have been capitalized refinanced or delayed by agreement,or payments are less than 90 days overdue, but there are other good reasons to doubt that payments will be made in full’.

When a bank fails to recover loans within three months that means equal to 90 days after the ending of the maturity date of a loan the loan is normally considered as a non-performing loan but the term of the contract need to be recognized as well as before finally considering a loan as a non-performing loan. Loans can also be categorized as non-performing loan if the borrower uses the loans for a purpose other than the purpose for which the loan was sanctioned.

The probability of collecting payments on the loans that have been termed as non-performing is very low and if a borrower starts to make payments against a non-performing loan the loan is then considered as a performing loan.

Classified loans:

The word classified loan is used for inferring any loan that is believed to be defaulted and classified loans are considered as a measure of protection to ensure that proper steps have been occupied to face a probable risk and to prevent the risks efficiently. An eight-tier system for classifying loans has been well-defined by Bangladesh Bank and that system include Superior, Good, Special Mention, Acceptable, Marginal, Sub-standard (SS), Doubtful (DF), Bad/Loss (BL) as the kinds of loans.

Normally, the lending banks classify the loans and the lending banks prepare the classification of loans when the banks believe that the borrower may fail to pay back the loans. Loans which are delivered by bank can be classified into the following kinds:

Substandard loans:

In the instance of loans not being repaid for three months after the maturity by the borrowers the loans are categorized as substandard loans. The features of Sub-standard loans include:

i) In the circumstance of any of the following lacks the obligor being present assets are classified no higher than the substandard category: low account turnover; belongs to a volatile industry with declining demand; very low and declining profitability; ineffective management; cash flow less the required principal and interest repayments; liquidity insufficiency; lack of integrity of the management; absence of external audit; competitive difficulties; existing conflict in corporate governance; litigation that is pending.

ii) When the main sources are insufficient for making repayments of the obligation and the bank requires depend on the secondary sources that include collateral in this circumstance assets should be classified no higher than Sub-standard.

iii) Assets must also be categorized as no higher than Sub-standard category when the bank obtains the asset without having the proper documentation of the net value of the obligor, liquidity, profitability, and cash flow that are obligatory in the lending process or policy or there are doubts regarding the documentation process’s validity, frequent overdrawn.

Doubtful (DF):

When the loans are not refunded by the borrowers for six months that’s means which equates180 days after the maturity date the loans are categorized as doubtful loans. Assets must be considered no higher than Doubtful when whichever of the stated deficiencies of the obligor is existing: very ineffective management, location in an industry having poor aggregate earnings or markets’ losses, problem of intense competition, loses related to operations, failure of key products, lack of faith of the financial statements, lack of liquidity, permanent overdrawn, doubtful integrity of the management, lack of cooperation within the management, doubtful ownership

Bad/Loss:

When a loan is not paid up to nine months that means equal to 270 days after the maturity of the loan then it is categorized to be Bad/Loss and assets must be categorized as no higher than Bad/Loss in the circumstance of any of the following deficiencies of the obligor being present: there is operating damages and the obligor essentials to seek new loans for the purpose of supporting, disappearing existence in an industry, located in the bottom quartile of the industry regarding profitability, near to face technological obsolescence, losses that are very high, except liquidation no source for repayment, higher production cost than cash flow, the existence of money laundering, and different types of illegal actions.

Guidelines of Bangladesh Bank regarding NPL:

Loan classification: All loans and advances are categorized into four groups and those are:

Continuous Loan:

Continuous loan is the loan account where transactions may need to be within a predetermined limit and there may have a date to be expired for example: Overdraft, Cash Credit etc.

Demand Loan:

Demand Loan is a loan which has turned into a forced loan from any contingent liability. In other words demand loan is a loan which is payable on demand by the bank. For example: Foreign bill purchased, Forced Loan against Imported Merchandise etc.

Fixed-term Loan:

Fixed term Loan is generally repayable under a specified term schedule and within a specified time period

Short-term Agricultural and Micro Credit:

Short term Agricultural and Micro Credit: Credit in the Agricultural and Microcredit are generally repayable within less than twelve months and this category includes any micro-credits less than 25000 tk.

Greater level of non-performing loan may be the reason of financial suffering. In some circumstances banks choose to lend to the sectors that have higher risks in order to make extra profit as the highly-risky sectors can be charged with greater interest rate. Though the highly-risky divisions can provide greater interest income there are high potentials of failure to collect the refunds of both the interest and principal in a timely manner. However high-profit can be made by the high-risk-taker there are numerous bad effects of having large quantity of NPL.

Minimum Provision Requirement:

Minimum Provision Requirement: Loans

Required Provision (as a % of outstanding loan)

Unclassified 1%

Substandard 20%

Doubtful 50%

Bad/loss 100%

Table: Minimum Provision Requirement.     Source: Bangladesh Bank Website

Banking sector Overview in Bangladesh

The banking sector of Bangladesh is one of the most vital sectors for the economy to be able to function. It can be treated as “lifeblood” for the economic activity that includes collecting deposits and providing credits to states, people, households and businesses. Bangladesh Bank is the central bank and it has the regulatory authority to control the banking sector of Bangladesh. In, 1972 the Government of Bangladesh reorganized Bangladesh Bank as the central bank of the country which was previously Dhaka Branch of the State Bank of Pakistan.

After the liberation in 16 December 1971, The banking industry in Bangladesh commenced its journey with Six Nationalized commercialized banks, thiree State owned Specialized banks and nine Foreign Banks. A significant expansion happened during In the 1980's banking industry because of the entrancement of private banks. Currently, banks in Bangladesh are mainly of two types: Scheduled Banks & Non-Scheduled Banks. Scheduled Banks are the banks that go on by the list of banks controlled under the Bangladesh Bank Order, 1972. Non-Scheduled Banks are those banks which are customary for special and definite objective and go on under any act act but are not Scheduled Banks. These non-scheduled banks cannot perform all functions of scheduled banks.

At present, Bangladesh has 59 scheduled banks under full control and supervision of Bangladesh Bank. Scheduled Banks are categorized into following types:

State Owned Commercial Banks (SOCBs): There are 6 SOCBs are Sonali Bank Limited, BASIC Bank Limited, Janata Bank Limited, Rupali Bank Limited, Bangladesh Development Bank Limited Agrani Bank Limited.

Specialized Banks (SDBs): 3 specialized banks are Bangladesh Krishi Bank, Probashi Kallyan Bank, Rajshahi Krishi Unnayan Bank.

Private Commercial Banks (PCBs): 41 private commercial banks are majorly preserved by individuals/the private entities. PCBs can be categorized into two groups:

Conventional PCBs: 33 conventional PCBs are are Shimanto Bank Ltd, Padma Bank Limited, AB Bank Limited, Bangladesh Commerce Bank Limited, Bank Asia Limited, BRAC Bank Limited, ,NRB Bank Limited, City Bank Limited, Community Bank Bangladesh Limited, Dhaka Bank Limited, Dutch-Bangla Bank Limited, IFIC Bank Limited, Jamuna Bank Limited, Meghna Bank Limited, Eastern Bank Limited, Mercantile Bank Limited, Modhumoti Bank Limited,Mutual Trust Bank Limited, National Bank Limited ,National Credit & Commerce Bank Limited ,NRB Commercial Bank Ltd, Midland Bank Limited, NRB Global Bank Limited, One Bank Limited, Premier Bank Limited, Prime Bank Limited, Pubali Bank Limited, South Bangla Agriculture and Commerce Bank Limited, Standard Bank Limited, Trust Bank Limited, United Commercial Bank Ltd, Uttara Bank Limited

Islami Shariah based PCBs: There are 8 Islami Shariah based PCBs which are based on Islami Shariah based principles, for some example Profit-Loss Sharing (PLS) mode are EXIM Bank Limited, Shahjalal Islami Bank Limited, ICB Islamic Bank Limited, First Security Islami Bank Limited, Islami Bank Bangladesh Limited, Al-Arafah Islami Bank Limited, Social Islami Bank Limited, Union Bank Limited

Foreign Commercial Banks (FCBs): 9 FCBs are operating in Bangladesh are Commercial Bank of Ceylon PLC, State Bank of India, Woori Bank, Habib Bank Limited, HSBC, National Bank of Pakistan, Bank Al-Falah Limited, Citibank N.A, Standard Chartered Bank.

Non-scheduled banks: 5 non-scheduled banks are: Ansar VDP Unnayan Bank, Grameen Bank, Jubilee Bank, Karmashangosthan Bank, Palli Sanchay Bank.

Loan defaults Culture in Bangladesh

The banking division of Bangladesh has been suffering from non-performing loans for a very long time and currently various restructuring efforts have been taken to improve the situation. But after all the initiatives and the result of rigorous reform plans nowadays many of the honest borrowers have been depressed of funds and so the economic condition of the country has been influenced destructively. Defaulted loans is Tk 110,874 crore as of March 2019 is the highest ever in the country. So here we can see the failure of the recent action taken later. Also we have seen the default loan culture previously. Some exemplary story can be mentioned. 

The famous Hallmark and Sonali Bank Loan Scam was a bad example which shows the default loan culture. It happened by the largest State Owned Commercial Bank (SOCB) of Bangladesh, Sonali Bank. Sonali Bank gave a loan of BD Taka 3400 crore (about US$454 million) using some fake documents between 2010 & 2012. The loan scam happened when a branch of Sonali Bank unlawfully gave out $454 million in loans, counting nearly $344 million to Hallmark Group which is a textile business.

Bangladesh Bank has discovered series of scams at the Farmers Bank connecting loans of around Tk 500 crore that were sanctioned to 11 companies in unlawfully of banking norms and procedures. The amount of loans are more than Tk 367 crore which the Farmers Bank's Motijheel branch gave to 10 of the companies from November 2013 to November last year which have become defaulted. Here we can see, Some of the firms are either obscure or little-known.

Janata Bank allowed undue favor Thermax as a big borrower. Janata Bank allowed the company to open letters of credit (LC) one after another exceeding all sorts of banking rules which multiple Bangladesh Bank inquiries have found. The borrower Thermax was enjoying a great privilege although the garment company has not paid previous dues. The amount was Tk 1,230 crore mentioned in a report October 21 at daily star.

Trend of Non-performing Loan in Bangladesh

Source: self-calculation based on BB report

From the above chart it can be seen that from 2010 to 2018 there were overall an upward pattern of Non-performing loans and total loans. That means overall the is high. But in 2013 it is a little bit lower. The Non-performing loans loans decreased from 2013 to 2011 but in 2012 there were little increase of default loans in the banking sector of Bangladesh. Then Non-performing loans decreased in 2013, but continued increasing 2014 and upto 2015 to as of june 2018.

Present status of non performing Loan:

Amount of LPLs by Type Of Banks

Source: Department of Off-site Supervision (DOS), Bangladesh Bank.

In the table above, It demonstrates the quantity of NPLs of the main 4 kinds of banks during 2010 to end of June, 2018. The highest total amount of NPLs of the SCBs has increased from BDT 107.6 billion in 2010 to BDT 228.5 billion in end of June, 2018. In second position, The NPLs of PCBs raised BDT 389.8 billion in 2018 up from BDT 64.3 billion in 2010 which is very high. Thirdly, the amount of DFIs has not raised significantly. Total to BDT 52.4 billion in end of June, 2018 has raised from BDT 49.7 billion in 2010. The table shows that the lowest amount of NPLs of the FCBs raised to BDT 22.7 billion in end of June, 2018 from the amount BDT 5.5 billion in 2010. The table also shows that the total NPLs of the banking sector have enlarged to BDT 893.4 billion in end of June, 2018 which was BDT 227.1billion in 2010.

Gross NPLs to Total Loans by Type of Banks

Source: Department of Off-site Supervision (DOS), Bangladesh Bank.

The most significant indicator to show the asset quality in the loan portfolio is the ratio of gross NPLs to total loans & net NPLs to net total loans.

At the Table, We can see the gross NPL of the banking sector at the end of the year, December 2017 is 9.3% while it was 9.2% in 2016 & 8.8% in 2015. The table indicates that PCBs had the lowest rate of Gross NPLs to Total Loans which is 4.9%. It also indicates that SCBs had the highest gross NPLs which is 26.5% in 2017, 25.1% in 1016, 21.5% in 2015. PCBs gross NPLs in 2017 had 4.9% NPLs, 4.6% in 2016, 4.9% in 2015. Development Finance Institutions has also a higher rate of 23.4% in 2017, a year earlier it was even greater which is 26%.

  Ratio of Net NPLs to Total Loans by Type of Banks

Source: Department of Off-site Supervision (DOS), Bangladesh Bank.

The ratio of NPLs to total loans for the SCBs, DFIs, PCBs and FCBs were recorded as 11.7, 7.4, 0.8 and 0.8 percent respectively at the end of June 2018. The ratio of NPLs to total loans of all the banks had shown an overall upward trend at the end of June 2018.

Total Loan (In billion BDT)

 The above table shows the quantity of total loan of the 4 forms of banks since 2010 to end of june 2018. The total amount of loan increased to BDT 7989.2 billion at the end of June, 2018 from BDT 3111 billion in 2010. The volume of loans of the SCBs enlarged to BDT 1519.50 billion at the end of June, 2018 from BDT 685.35 billion in 2010. The volume of loans of the PCBs rose to BDT 6496.67 billion at the end of June, 2018 from BDT 2009.4 billion in 2010. The volume of loans of the DFIs enlarged to BDT 241.47 billion at the end of June, 2018 from BDT 205.27 billion in 2008. The amount of loans of the FCBs enlarged to BDT 338.81 billion at the end of June 2018 which was BDT 183.33 billion in 2010.

Causes of Non Performing loans:

Non-Performing Loan is always destructive for the economy of the entire world so it is identical to investigate the reasons of loan defaults. Hence, To analyze the basic reasons of non-performing loans then we can adjust the policies to control non-performing loans. The causes are divided into 3 other types below to get a clear idea from this study to control the non-performing loans.

From Banks point of view:

1. Higher interest rate: Higher interest rate is always a big problem with several other facility charges and sometimes unseen charges are increasing the size of payments of borrowers. On December 9th Finance Minister AHM Mustafa Kamal said, High interest rate is responsible for the rising trend of default loans while high volume of such loans is the only obstacle to reducing the interest rate to a single digit”
2. Rigorous Loan Extension: It happens that if some clients face difficulties in their business when the defaulters were fail to pay because of loss in business in a certain time, Banks rejects extra time of the current loan or banks are not granting a new loan. So defaulters couldn‘t get out from the troubles, and the could not continue their business. And for that reason they can never pay up all the money they borrowed from the banks.
3. Limitation of Early Disbursement: For some business it’s very important to invest the money in right time. But sadly sometimes Banks fail to provide the loan at the right time because of their limitations what was not supposed to happen. Borrowers face the problem with the invested money that they got partially in the business. If the clients cannot rely on bank loan as the promise it may impact negatively in the return of the client and may cause a loss which leads towards non-performing loan.
4. No Fixed Interest Rate: Sometimes there are no fixed interest rate for the loans. So many borrowers claims that the loan interest rates are adjusted in raising trend as well as other rates are adjusted at a higher rate. Banks does not always disclose or notify the information to clients. Oppositely, borrowers as well didn‘t give due importance to that conditions at the first time the signed contract paper as they were too busy to get the loan money, without understanding the loan conditions properly they get some conditions which is unfavorable to the conditions.
5. Lack of Proper System: Bank Officers or workers get a remuneration based on loan sells. So they try to sell as much loan as they can to full fill their target money also the reward they get. So They do not focus rigorously on documentation which leads the loan towards default. Sometimes the bank officers who live in the same area for a long time in certain area and sanctions loans without collateral and proper assessment which required may cause raise in NPLs. Personal relationships may cause it.
6. Lack of Monitoring: Loans provided for a certain reason should be used to the same cause. but lack of monitoring the usage of loan amount can cause default loan.
7. Unqualified Bank Staff: Non business students are appointed in the banking sector who don’t have enough knowledge to assess business scenario sometimes cause wrong assessment such as credit risk assessment. This is not efficient and it cause a raise in NPLS.
8. Corruption in banks: Some corrupted bankers are accountable for creating default loans in the banking sector to some extent by disbursing loan to little known or fake companies which the companies do not deserve.
9. Political Intervention in Bank: Biasness in loan sanctioning practice in favor of diplomatically/ politically known persons make the loan in danger at the time of sanction particularly when biasness shown by top level management. Every now and then managers were in the deep pressure to disburse loan to those entities. So therefore, loan are disbursed without appropriate or satisfactory credit calculation or agreement system which ultimately become default.
10. Lack of Taking Proper Action: If there is a lack of taking proper action that means action which comes after loan monitoring. If the monitoring is done for classifying and come to a conclusion that there is something wrong. If there is which need to be held in a corrective action, it needs to be taken. When the corrective actions are taken at the right time, the chance of default loan lessens. If a customer misses an installment, the related officer of the bank must take some action to know about the customer and understand what the problem is. If right act is taken, chance of loan default is reduced.

From clients point of view:

1. Unwillingness to Pay: There were some determined defaulters who were actually a usual defaulter. They acquire loans from banks with bad intention of not to pay back the loans. Very frequently banks failed to properly recognize this class of individuals.
2. Lack or flexible Rearrangement of Installments Period & Size: Debtors, in many cases, can not gain conditions for rearrangement as the installment size are too big in amount or rearrangement period was too small for them that can execute.
3. Credit Collection Failor: A very frequent case small entrepreneurs are challenged by the loss in businesses due to sales on credit. As soon as they failed to recover the money from the debtors in due time they failed to run productions and become failure to pay.
4. Fund Alteration: One of the root reasons for creation of NPLs is fund alteration. Here, management differentiates their business and also differentiates the fund. Share market speculation from business money is a highlighting type of fund alteration. Besides, fund is diverted for dealing purpose, family businesses, repaying loans taken from various causes, house construction, and other dealings.
5. Not having Early Production: In many cases, banks authorize and give out working capital but borrowers use it for buying fixed assets. Consequently, interest on loans enlarged without starting of businesses. It contributed to the business credit became defaulted.
6. Lack of Financial Knowledge: Many customers are defaulted due to lack of financial knowledge. They are small business owners and don‘t know anything about good and bad sides of banking procedures at least to run the accounting contacts. They do not default if they have financial knowledge about the business and financial investments.
7. Young Age: Young age is one of the causes behind the failure of payment of consistent loan. As young age people undergo of lack of business experience. Otherways they normally don’t have enough banking understanding. As they are young and lack experience, it is one of the possible causes of default loan.
8. Lack of Supporting Services: Occasionally business need support from other sources. When cash flow is wiry and the task is in broke, it needs support. Without additional support company may become failure & loss in repeated time periods. In our country most of the businesses do not have the supporting foundations with which they can survive the disorder that comes in to their business.
9. Low market share: Low market share may be a cause of loan default but not a single person during interview stated it as one of the causes of their loan default. Low market share means low sales, low sales mean low income and low income results default. But a very low market share a firm can be profitable enough to pay its total loan requirement.

From Business Related points:

1. Non-Attractive industry: For non-attractive industry, it sometimes acts as a crucial cause of loan defaulting. Companies functioning in non-attractive businesses have higher possibility of poor execution. For that reason the poor financial performance happens in business’s cash flow. Because of cash flow the business turn into less liquid which subsidizes in defaulting bank loan. In addition, It is not essentially that all the businesses of non-attractive industry perform poor.
2. Strong rivalry: Though Strong rivalry does not directly impact in defaulting loan but Strong rivalry impacts when many businesses enter into the industry where the industry has already so many businesses. It’s actually more than the demand. In strong rivalry only efficient businesses survive. So the inefficient businesses find it problematic to make profit and sell their manufactured goods or services. As a result when they fail to make a profit, the company is likely to default its loan installment.
3. Weak Management skill of Business: As part of the loan sanctioning process is obvious to have initial look to the management process of businesses/ entities for all the banks. It’s important when sanctioning a loan, banks look into the matter that how the management of the business is. If the bank senses that the management is capable enough to positively run the business and use bank funding, the bank decide to fund else not. Even sometimes banks give environments like some of the key employees must not quit the business before payment of the loan. Management proficiency plays an energetic role in paying bank loan. The more expertise the management is the less chance of defaulting loan.
4. Poor economic Performance: Absolutely Poor economic performance is the most important reason of loan default. Once a Business is not solvent, it is un-likely to pay its loan. Poor economic performance is the key reason behind extreme loan default. Poor economic performance can be risen from many other causes described above.

 Microeconomic point of views:

1. Frequent Policy Change of government: Government policy is reflected as a reason of the loan default as per our study since it has an effect on the local sales and distribution of the products of the companies. Without these are other reasons such as imperfect offering practice, lack of enquiry of business risks, lack of proper appraisal of security or mortgage assets, undue influence by debtors, external pressure, loan of Govt. Association, Govt. policy for disbursement of loans, lack of legal act. For an example, a recent policy change movement taken by the finance minister has lead the honest borrowers to defaulters as the policy favoured the defaulters a lot.
2. Political uncertainty: Political uncertainty of the country hinders the production and the supply of the products in a smooth way and the political chaos is reflected as one of other reasons of the loan default in our country.
3. Growing Crimes: It is found the growing crimes effect of in the profitability of the businesses. It forces donation sometimes make the profitability of the company lower.
4. GDP growth: It is obvious that companies which deal in consumer products are straightly affected by the GDP growth economy. As we all know the GDP is continuously growing in our country hence the default loan is raising. Some bankers during the interview questioned the growth rate. But if it is true that is GDP is not growing as it is said, it is hard for regular customers and defaulters for the repayment of the loan.

 Effectiveness of Non-performing Loans

When we see a huge rise in the amount of non-performing loans, we can clearly indicate a sign of financial hassle. Still, we need to observe the condition how the lending is being through. Several banks provide loan to higher-risk divisions than others. As a result, tend to have a higher amount of non-performing loans. These banks want to get extra profit by distributing high-quantity of loan and arraigning higher interest rates from borrowers. A mortgage lender will almost certainly have less non-performing assets than a credit card lender because of the asset that is mortgaged as collateral. Conversely, the credit card lender creates big profit with higher extents on the same assets, even if it ultimately has to write off the non-performing loans. So it is perceived that the high-risk taker makes high profit. However, the higher amount of NPLs has higher side-effects.

Effects of NPLs causes, Efficiency problem for the banking sector, Stopping Money Cycling, Capital Erosion, Increase in Loan Pricing, Earning Reduction and Frustration etc. Thus, the values of safety are enlarged and the risks of financial recession also get a rise. Increases of NPLs effects as follows:

1. Efficiency Problem for the Banking Sector: NPLs can increase the efficiency problem for the banking sector. It is found in studies by a number of economists that failing banks tend to be located far from the most-efficient edges, because banks do not adjust their portfolio decisions by lending less than wanted.
2. Capital Erosion: It is found that there is a negative relationship between the non-performing loans and performance efficiency. So, increase in NPLs hampers the performing loan as bank loses some money as NPLs occur.
3. Credit Crisis situation: NPLs forms the Credit Crisis situation. Credit crisis is an existence that banks ration loan disbursement and new credit promises in order to protect, but add more risks. Credit crisis also increases the proportion of NPLs.
4. Hinders Bank’s Money Cycling: There is a recurring relation between poor economic conditions and the miserable economic progress. During the crisis minute, in order to reestablish the trustworthiness among creditors and depositors, worsening Banks not only try to enlarge their equity bases, but also decrease their risk assets or change the composition of the asset collection. Because of such distrustful actions, the corporate borrowers are always affected, thus the financial growth is being hindered in general.
5. Slow Flowing of Cash: As the money cycling becomes stopped due to the growth in NPLs, Slow flowing of cash continually affect negative influence on any business.
6. Increased Rate of Interest: Once the NPLs increase, the interest earning becomes stopped. As the cost of funds and the cost of management do not stop, to continue the management cost along with the cost of fund, the existing lending prices are increased. Suddenly increased rate of interest make it hard to pay back of bank money for the performing borrower.
7. Affects Opening of LC: NPLs hampers opening of Letter of Credit. Because international importers always choose healthy situation of the exporter's bank. Of poorer quality health condition of the bank affects the opening of new LCs. Low proportion of LCs makes low bank earnings.
8. Negative effects on More Lending: NPLs exist as a natural result of lending actions. When banks re-balance their collection, they decide on the possibilities they will accept for a given level of expected return according to their risk inclination. When the level of non-performing loans goes outside a certain point banks cannot accept, then it upsets bank's re-balancing actions. So, when NPLs cross the boundary of the above threshold, they start to issue negative effects on more lending. 

Finally I can say, there are many effects of NPLs than stated in the above which are hard to observe. Causes of NPLs may help to understand the NPLs and to take a prevention strategy.

Strategies to Reduce Non-Performing loans:

Non-performing Loan problems in Bank have a tendency to arise after a huge lending preceding and when the loan are not collected in structured periods that were supposed to collect the loans because of low growth in a weak financial systems. Non-performing Loans hamper new offering, eroding both the productivity and soundness of banks. When high Non-performing Loan levels upset an adequately large number of banks, the financial system discontinues functioning typically, and banks can no longer deliver credit to the economy. A quick recovery can be useful for the financial market which helps from not functioning and it helps the bank from failing among banks. In such situations, Banks usually step in to the crisis response. At this stage, bank authority tries to adopt strategies for the resolution of Loan problems in the Bank. Some strategies that banks follow to reduce the NPL are given below:

1.  Making well-structured NPL management strategy:
2. No compromise with the determined sanctioning process. Bank should always keeping in mind that "Prevention is better than cure."
3. Determine an identification of highly risk sensitive debtors in the credit portfolio.
4. Quick action on credit reports in frequently basis.
5. Capacity building of officers and executives by taking necessary step in the recovery section.
6. Action plan for potential NPLs if there is any default.
7. Determine an identification of geographical area-wise risk sensitivity
8. Targeting high worth NPL accounts as soon as possible.
9. Monitoring and Following up:

A.   For ensuring funds are utilized as the proposed application for which they were sanctioned, monitoring and following up is necessary to see that the terms and conditions are complied with.

B.   Monitoring the project implementation for avoiding time delay and resulting cost overruns.

C.  Detecting the symptoms of condition at an early stage for initiating measures at the appropriate moment.

D.  Keeping an eye on the movement of financial position of the company.

E.   Making appraisal about the performance in terms of production, profits, sales etc. on a tenor basis for ensuring that the debtor is keeping to the unique plan and is having enough profits to deal the debts as well as for the sake of maintaining normal business motion.

F.   Assessing the impact of negative externalities on the performance of the company for a regular basis.

iii.        Supervisory process:

Supervisory process includes Periodic reports on the risk sensitive clients/ borrowers, Off site Monitoring, Analysis of financial statement to find out the weaknesses in the business, On site Monitoring, Risk grading, Physical visits to the business venue of the clients, Preventive measures, Direct interaction/discussion meeting, Understand client's business, Frequent visits to client, Analyze client's financials, Ensuring perfection of legal documentation, Use Credit Bureau checking, Investigation on market rumors etc. Supervision and follow-up of loans can be separated into three main regulator groups:

A.   Legal control:

1.   Keeping the documents continually in strength

2.   Appropriate implementation of documents

3.   Registration of charges for legal action

4.   Obeying with several legal rules

5.   Fulfilling with directives of the central bank and internal policy guidelines

6.   Creation of mortgage properly according to requirements

   B.    Physical control

1.   Verification of physical books of accounts made up with documents

2.   Review of the physical securities or collateral charged in favor of the bank.

3.   Review of workshop and go down sites or properties to ascertain the activity levels and stock levels one-to-one.

4.   Cross checking with the physical securities or collateral.

   C.   Financial control

1.   Monitoring the operation through quarterly information statements and monthly operational data.

2.   Assessing the performance of the company on the basis of periodic financial statements

3.   Off-site control is generally done at bank's desk level.

4.   Steps for recovering bank's funds from a problematic non-performing loan

5.    The credit review and supervision relating to the account could be off site or on site.

6.   The speedy detection and reporting of any problem with a loan are vital; delay often worsens a problem loan condition

7.   The loan workout accountability should be separate from the lending function to avoid probable conflict of interest.

8.   Bankers must always keep the aim of loan workouts definitely taking into consideration the worst case consequence.

9.   Estimate what properties are available to collect the disturbed loan including the assessed liquidation values of assets and credits.

10. The related credit officer should tell the troubled borrower quickly options especially for reducing expenses, increasing cash flow and developing management controller.

11. Develop an initial plan of action after defining the bank's risk exposure and sufficiency of loan documents, especially any statement against customers collateral other than that held by the bank.

12. Bank's concerned credit specialist must reflect all reasonable replacements for cleaning up the troubled loan, including making a new, temporary contract if loan problems appear to be short term in nature or finding a way to help of planned partner the customer reinforce cash flow or to inject new capital into the business.

13. The bank's credit employees must assess the quality, fitness and integrity of the current management and visit the site to measure the borrower's property and processes.

 iv.      Rescheduling of NPLs:

          Bangladesh Bank in one of its recently given circular vide 08 dated 14.06.2012 has stated overriding concern over the propensity of prolongation by even renewal of term loan/ extension of validity arbitrarily which has been called as prolongation/ evergreening may sometimes effect over statement of capital, higher end maintenance of requirements than required though having low probability of repayment but carries full significance on bank's balance sheet.

          To control this propensity Bangladesh Bank suggested following instructions in the consideration procedure of loan rescheduling:

A.   For the unproductive segment such kind of recurrence rescheduling should be restricted.

B.   The bank must have a strategy approved by its Board defining the conditions/ circumstances under which a loan may be rescheduled but not in contravention of the contents of the Bangladesh Bank circular. The policy must focus the controlling tools for avoidance of routine rescheduling/ repeat rescheduling wherein lies the doubt of recovery of full quantity of loan.

C.  At the time of applying rescheduling down payment to be recognized at a time in cash.

D.  The Bank must recognize the reasons behind the loan becoming non performing.

E.   While considering the rescheduling proposal general repayment ability of the borrower to be measured properly.

F.   No consideration will be given for rescheduling of the borrower who is a characteristic loan defaulters rather legal action should be opened for recovery.

G.  Rescheduling of any loan must be acceptable in right perspective and its positive impacts on the bank's credit portfolio/ long term profitability, capital adequacy, liquidness etc.

H.  If a bank is content with the due diligence procedure that there exists acceptable conditions for rescheduling and the concern/ borrower has the capability to generate required cash flow for refund in that case rescheduling scheme to be considered positively.       

 v.        Legal Proceedings:

A.   In all commercial credit default filing of money suit with the proper court of law under the applicable section is the vital recourse which should be occupied to when all other actions have failed to cause any result.

B.   The borrower has failed to pay anything against the payments and also failed to answer to any notice of the Bank to repay.

C.  Under the following situations the bankers are normally inclined to file suit as a last option.

D.  Unless the borrower is particularly wayward and ill motivated and if there is the possibility of retrieval when some easy terms are offered in that case Banks should try to rehabilitate the borrower by reviving the business as an alternative of filing of suit.

E.   Where some fraud or forgery has been committed and no possibility is open to convey with the borrower for repayment of the advance.

F.   The borrower has always given false hopes to the bank that he is going to pay off directly but never has paid and created examples of breach of commitment recurrently.

G.  The bankers should use all the offered avenues for alternate dispute resolve/ amicable clearance even after filing suit against the debtor on best effort base.

Limitations of the Study

                     I.       The Time duration for the study was very limited. As a result I could not interview many bankers.

                   II.       Updated data was not available as Bangladesh Bank has not yet published its latest report for 2018-19 year.

                  III.       Various causes impact on NPLs which could not be calculated as statistical tests were not done because of the limited time and also for availability of data.

                 IV.       Lack of time to prepare the relationship with researchers in this related field as a result I could not interview more researchers in this field.

                   V.       Limited experience in conducting such advance study.

  Findings:

During the study I have found some facts related to non-performing loans. Such as NPL causes Earning Reduction of Banks, Stopping Money Cycling Process, Increase in Loan Rating, Capital Erosion & Frustration in Economy etc. As an outcome, financial recession also may rise. Some other findings are given below:

                     I.       I have found from many researches that there is definitely a negative relationship between the non-performing loans and profitability of the bank. So, if the NPL rate increases the profitability decreases. So It can be harmful for the economy.

                   II.       When NPLs increases then banks faces a phenomenon where banks have less money to disbursement loan but as it never wants to stop lending money for the purpose of making profit it may find liquidity crisis. So banks faces problem to meet the commitment of lending within time. Also bank may fail commitment to depositors to repay timely if the default loan is high.

                  III.       NPL affects opening of LC (Letter of Credit). As International importers always select healthy condition of the exporter's bank they look after the banks financial conditions. If NPL is high, International importers cannot trust the bank. NPL affects opening of LC as an indicator of poorer condition. So the bank faces the opening of new LCs in a low rate.

                 IV.       If the NPL rate rises, interest earning falls or stops because of loan default. In the same time cost of deposit that are taken are not stopped. So to run the costs of fund along management cost the current lending price must be greater than before. As a result of this suddenly raise in rate of interest makes it hard to pay back for a new borrower. So possibility increases of NPL.

                   V.       It is proved by many researches that NPL has a positive relationship with the interest rate. If NPL rises, loan the rate of interest also rises to get sufficient adjustment.

RECOMMENDATIONS

                     I.       If banks want to reduce the non-performing loan, It must have to investigate the customer reliably to confirm the safety of the bank's money.

                   II.       As a regulatory board Bangladesh bank must observe carefully by audit whether regulated process and codes of lending loans are strictly followed by banks and other financial institutions.

                  III.       Banks must know their customers before permitting loans to them. Now a days KYC (Know your Customer) form are not filled by monitoring mostly.

                 IV.       Proper estimation of the collateral is vital.

                   V.       If banks make a varied portfolio of loan with proper assessment, it may decrease the non-performing loan.

                 VI.       Credit risk department of the bank must have capable officers with the right skills so that they can understand to assess the right behavior of the borrowers.

                VII.       Banks need to have a strong team specially for the recovery of possible default loan to reduce the non -Performing loans.

               VIII.       Disbursement of loans based on personal relation need to be reduced.

Conclusions:

Lending is the most profitable investment for any bank while non-performing loan has a bad effect on those banks. In this report, I have tried to describe the present scenario of non-performing loans in Bangladesh, the rates how different types of banks have the non-performing loans. The impact of nonperforming loan is also discussed. It’s high time to work with non-performing loan for the development of our banking sector as the moneys that are given to the debtors as credits must be harmless and are recovered at the right time. As Banks does business with the money of the depositors so banks must take careful steps to avoid default possibilities. So every banks need to be more cautious as well as they need to build a better system of proving loans so that the Non-performing loan rate can be reduced.

References:

1. Banks in Financial System (https://www.bb.org.bd/fnansys/bankfi.php)
2. Study on Credit Risk arising in the Banks from Loans Sanctioned against Inadequate Collateral (https://www.bb.org.bd/pub/research/sp_research_work/srw1702.pdf)
3. Rabeya Sultana Lata, World Review of Business Research September 2015 Non-Performing Loan and Profitability: The Case of State Owned Commercial Banks in Bangladesh
4. Rahman, R. (2017). “Default loans soar”, The Daily Star. Available at: https://www.thedailystar.net/frontpage/default-loans-soar-1275622 [Accessed 7 Aug. 2017].
5. Zelalem. (2013). Determinants of Non-Performing Loans in Licensed Commercial Banks: Evidence from Ethiopian Banks, Asian Economic and Financial Review.
6. Field Survey Report of Bangladesh Bank (29 August 2017) - "Study on Credit Risk arising in the Banks from Loans Sanctioned against Inadequate Collateral"
7. Report of Business Standard (MONDAY, DECEMBER 09, 2019 ) titled “High interest rates responsible for high default loans and vice versa: Finance minister” (https://tbsnews.net/economy/banking/body-cards-reduce-interest-rate-single-digit)
8. BRPD Circular No.07 dated June 14, 2012, “Loan Classification and Provisioning” (https://www.bb.org.bd/mediaroom/circulars/brpd/sep232012brpd14e.pdf)
9. Banik, B.P., & Das, P.C., (2015), “Classified Loans and Recovery Performance: A Comparative Study between SOCBs and PCBs in Bangladesh, The Cost and Management Journal”.
10. “The Treatment of Nonperforming Loans, prepared” by -Department International Monetary Fund ,(https://www.imf.org/external/pubs/ft/bop/2005/05-29.pdf)
11. Adhikari, BK 2007, “Nonperforming Loans in the Banking Sector of Bangladesh: Realities and Challenges”, By -BIBM (https://www.apu.ac.jp/rcaps/uploads/fckeditor/publications/journal/RJAPS_V21_Adhikary.pdf)
12. Ahmed, A.S., Takeda, C. and S. Thomas. 1999, “Bank Loan Loss Provisions: AReexamination of Capital Management, Earnings Management and Signaling Effects”. Journal of Accounting and Economics.
13. Bangladesh Bank, (2014. Annual Report 2013-2014). Bangladesh Bank, (https://www.bb.org.bd/pub/publictn.php),
14. Haneef S. and Riaz T., (April 2012) “Impact of Risk Management on Non-Performing Loans and Profitability of the Banking Sector of Pakistan” by International Journal of Business and Social Science
15. “Commercial Bank Management and Bank Management and Financial Services” by Peter S. Rose.
16. Parven, S., (2011), “Nonperforming loans of commercial banks in Bangladesh”. (https://mpra.ub.uni-muenchen.de/65248/)
17. Dash, M. K. (2010 ), “The Determinants of Non Performing Assets in Indian Commercial Bank: An Econometric Study”

Interviewed people:

Thanks to everyone who has responded to me to give interview: 

Name Organization Date

Rokibul Hasan Dhaka Bank ltd 04-Nov-19

Toufikul Islam Habib Bank Ltd 06-Nov-19

S. M. Tanvir Rahman The premier Bank Ltd 11-Dec-19

Md. Abdul Hadi The premier Bank Ltd 13-Dec-19

Mohammad Faruq Standard Chartered Bank 27-Nov-19

Tasnim Alam Commercial Bank of Ceylon 03-Dec-19

Fouzia Sharmin The Dhaka Mercantile co-operative bank ltd 15-Dec-19

Siad Bari Khan IFIC Bank 18-Nov-19

S M Zeeshan Siddiqu Independent researcher 27-Oct-19

Mirja Asadullah Galib Standard Chartered Bank 08-Dec-19