Private sector lender Southeast Bank is struggling to recover its defaulted loans, with 71 percent of its total Tk 2,513 crore in defaults concentrated among the top 10 borrowers as of December last year. According to the bank’s internal report, these top defaulters owe Tk 1,779 crore, with KSRM and S Alam Group alone accounting for nearly Tk 1,000 crore. The Anti-Corruption Commission has filed a case against KSRM Group’s chairman Abdul Khaleq Pathan and six others for allegedly embezzling funds from the bank’s Gulshan branch using forged documents.

S Alam Group ranks second with Tk 474 crore in defaulted loans, followed by FARR Ceramics Limited with Tk 338 crore and Padma Poly Cotton Knit Fabrics Limited with Tk 171 crore. Other defaulters include Tang Hai Knitting and Dyeing, Bishwas Garments, Care Specialized Hospital, ABN Properties, Intramex Group, and NASA Group. Bank officials said recovery efforts are ongoing, though some defaulters have fled or been jailed.

Managing Director Khalid Mahmud Khan stated that the bank is maintaining contact with clients and attempting to regularize loans where possible, including through rescheduling and asset sales.