The bank has also sought Tk1400cr to enhance its paid up capital
The state-owned specialized Bangladesh Krishi Bank has
sought fund and other facilities from the government to revive the cash-trap
bank under the ongoing recapitalization programme.
The state owned specialised bank urged the
Bank and Financial Institution Division under finance ministry to address
the two major issues such as issuance of the public bonds against the
accumulated losses and non-payment of corporate taxes till the accomplishment
of the recapitalisation programme.
The bank has also sought Tk1400cr to enhance its paid up
capital.
“Authority concerned is now examining the bank
recapitalisation proposal, which was signed by managing director of bank Md
Abdul Salam,’’ an official of the banking division told the Dhaka Tribune
yesterday.
The government has already disbursed Tk4,100cr to help
four-state -owned banks to cover up their capital shortfall created mainly
because of the large-scale credit scams that surfaced one and half year ago, he
added.
The government injected Tk4,100cr to four state-owned banks
and Tk 67 cr to the Bangladesh Commerce Bank to issue right share from existing
capital. Sonali Bank got Tk1,995crore, Janata Bank got Tk814crore, Agrani
Bank got Tk1,081 crore while Rupali Bank got Tk210 crore.
As per the proposal, Krishi Bank has sought to issue redeem
bond against the accumulated losses of Tk2,739.78cr till June 30, 2012 to
absorb the shock of bank’s losses incurred in the last couple of years.
According to the Krishi Bank proposal, the bank will be
relieved from all the corporate tax system until and unless the government
issued redeem bond against the accumulated losses incurred in last couple of
years.
The proposal also said the authorized capital of Bangladesh
Krishi Bank needed to be increased to Tk3,000cr from the existing Tk1,500cr
while paid up capital needed to be increased to Tk2,300cr from existing amount
of Tk900cr. That’s why, Bangladesh Kirshi Bank will need Tk1,400cr to enhance
its paid up capital to Tk2,300cr under Basel two.
Banking Secretary Dr M Aslam Alam told the Dhaka Tribune the
government has given Tk4100 cr from the budget of the current fiscal year to recapitalize
four-state owned banks while it has still enough funds to allocate for the recapitalization
of the more state owned banks in the country.
News Source:- Dhaka Tribune
Dated:- 8-Jan-2014
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