DHAKA, July 18 (Xinhua) -- Only 10 private commercial banks and two non-bank financial institutions (NBFIs) in Bangladesh have been rated as sustainable financial institutions by the central bank.
Bangladesh Bank (BB) made the rating in its "Sustainability Finance Report 2024" unveiled recently.
BB said its evaluation was based on five key indicators: the Sustainable Finance Index, CSR activities, green project financing, the Core Banking Sustainability Index, and Banking Services Coverage.
Bangladesh has currently 43 private commercial banks, six state-owned commercial banks, three specialized banks, nine foreign banks, and one digital bank which all together make up the total of 62 banks in the country.
Apart from them, there are 35 NBFIs in the country which is now on the brink of a full-scale banking crisis, exacerbated by economic stagnation and political upheaval following the collapse of the previous regime.
At the heart of this crisis reportedly lies a banking sector plagued by skyrocketing non-performing loans and pervasive financial mismanagement.
