The Bangladesh Bank (BB) today reconstituted the board of directors of three private commercial banks. 

Top bankers yesterday claimed that the anomalies that surfaced in the banking sector were nothing big and serious in comparison to the industry's loan volume of more than Tk 8 lakh crore and healthy economic growth.

Giving in to pressure from government high-ups, Bangladesh Bank has set in motion the process of giving licences to four proposed commercial banks.

Most of the private banks are in trouble due to their recent decision to cap interest rate on deposits at 6 percent as the state-run organisations and corporate groups are unwilling to keep funds with them at such a low rate.

The government decision to slash the cash reserve ratio and allow state-run enterprises to keep half their funds with

In an unprecedented move, directors of private commercial banks are now seeking protection from the government against what they say is negative reporting on the banking sector.

Private banks' net profits slid for the first time in four years in 2017, dragged down by their ballooning non-performing loans.

Parliament yesterday passed the Banking Companies (Amendment) Act 2017 amid criticism from various quarters that the revised law will help a single family tighten its hold on a private bank.