Dhaka, May 7 -- Private sector credit growth in Bangladesh exceeded expectations this year, reaching 10.49 percent in March despite challenges such as high interest rates, reduced lending capacity by banks, import-trade contractions, and ongoing economic difficulties.
According to data from the Bangladesh Bank (BB), private sector credit growth was 9.95 percent in January and 9.96 percent in February. In the latest monetary policy for H2FY24 (January to June), the central bank lowered the private sector credit growth target from 11 percent to 10 percent to manage demand in an economy grappling with persistent inflation over the past two years.
In March, despite marking the highest growth in the first nine months of FY24, the private secto...