The net profit of the country's banking sector has suffered a major setback. In the latest 2024, the combined net profit of the banks decreased by about Tk 2,700 crore or 18 percent compared to the previous year. However, this year, the interest income of the banking sector increased by 24 percent and investment income by 30 percent. During the period under review, three domestic and foreign banks recorded a net profit of Tk 1,000 crore and one foreign bank recorded a net profit of Tk 3,000 crore.

Last year, businessmen close to ousted Prime Minister Sheikh Hasina defaulted on loans and losses at banks controlled by them increased to such an extent that the net profit of the entire sector was affected. This picture of the profits and losses of the country's public, private and multinational banks is available from a report by Bangladesh Bank.

Net profit is calculated after deducting security deposits and corporate taxes from profits against loans. Banks are now taking up to eight months after the end of the year to complete this process. This is because net profit has to be approved at the annual general meeting.

It is learned that this time, Bangladesh Bank has strengthened its supervision while finalizing the annual financial reports of the banks. The regulatory body has inspected various loan projects of almost all the banks on the spot and fixed the amount of loans that should be shown as defaulted based on that. As a result, defaulted loans of most banks have increased. Due to keeping safety reserves as per the instructions, many banks have suffered a blow in their profits and many have incurred losses.

A review of the central bank's report showed that the combined net profit of the country's banking sector suffered its first major setback in the last five years in 2024. While the combined net profit of the banking sector was about 14,840 crore taka in 2023, it decreased to 12,158 crore taka in 2024. That is, the net profit of the banking sector decreased by about 2,682 crore taka or 18 percent in one year.