AnonTex pays Tk 16.37 bilion to Janata Bank

Anontex, largest customer of Janata Bank from apparel industry, has paid Tk 16.37 billion to the state-run bank as part of regularizing the default loan.

The garment conglomerate has loan worth of Tk 65 bilion with Janata Bank of which Tk 35 billion defaulted, according to official source.

Banking sector insiders claimed that the volume of defaulted loan will come down to Tk 100 billion if the loan of AnonTex become regular. Around 25 percent loans of Janata Bank is now defaulted. When the loan of Anon Tex becomes regular, the ration will come down to 18 percent.

Anon Tex has planned to repay Tk 870 million within August as part of   regularize the default loan. Janata Bank will able to regular the defaulted loan after the repayment as installment and down payment.

Janata Bank managing director Abdus Salam Azad said the default loans of the state-run bank stood at Tk 135 billion of which 35 billion belongs AnonTex.

“When the AnonTex’s default loan worth of Tk 35 billion will regular, the default loan of Janata Bank will come down below Tk 100 billion,” Azad said.

AnonTex paid Tk 1.92 billion to Janata Bank in 2014, Tk 2.36 billion in 2015, Tk 2.96 billion in 2016, Tk 3.42 billion in 2017 and Tk 2.86 billion in 2018, official data shows. Despite widespread debate over the loan, the apparel conglomerate paid Tk 860 million in 2019.

AnonTex managing director Mohammad Younus said that every company of the group are in production despite the economic crisis by corona pandemic.

He said the AnonTex Group has been playing a key role in achieving the current government’s job creation and export targets.

“AnonTex has employed 26 thousand people. We have not reduced the salaries and allowances but increased the opportunities for the officers and employees amid pandemic,” he said

Younus further mentioned that the conglomerate has taken initiative to regularize all the loans of the bank through repayment and rescheduling is also in the final stage.

He said the AonTex factory uses state-of-the-art machineries from the United States, Germany and Switzerland. If the companies are in production for the next five years, all the loans of the bank will be repaid, the AnonTex boss hoped.


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