The Bangladesh Bank has exempted five defaulting companies under City Group from existing lending restrictions until 31 December 2027. This regulatory relaxation allows a consortium led by City Bank to extend working capital loans totaling up to Tk3,000 crore. As part of the initial phase, an agreement has been reached to provide Tk1,700 crore in fresh funding.
Economy
Bangladesh Bank relaxes lending rules for City Group to provide Tk1,700cr loan
Bangladesh Bank has granted a waiver to five defaulting City Group companies, enabling a consortium to issue fresh working capital loans.
Source: TBS Bangladesh