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Bangladesh Development Bank
Bangladesh Development Bank is a state owned specialized commercial bank of Bangladesh. The bank came into effect with the merger of ailing Shilpa Bank and Shilpa Rin Sangstha, which were established in 1972 to provide loans and facilities to industrial units, help set up new industries and expand investment in Bangladesh.
Bangladesh Development Bank was established on 16 November 2009 as a Public Limited Company by merging the state owned Bangladesh Shilpa Bank and Bangladesh Shilpa Rin Sangstha, both which were established on 31 October 1972. Bangladesh Development Bank started in 2010 with 534 court cases concerning 21 billion taka and 24.6 billion taka in written off liabilities.
The bank has had issues with loan defaulting, as of 2018, the total defaulted loans at the bank stood at 23.32 billion taka. On 11 June 2019, the Anti-Corruption Commission sued for officials of the bank for allegedly embezzling 250 million taka from the bank.
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- "Development Bank takes off". The Daily Star. 2010-01-04. Retrieved 2019-08-03.
- "A loan defaulting epidemic: Over two lakh privileged institutions!". The Daily Star. 2018-09-18. Retrieved 2019-08-03.
- "4 BDBL officials sued for embezzling Tk 25cr". The Daily Star. 2019-06-11. Retrieved 2019-08-03.