Bangladesh’s state-owned Bangladesh Power Development Board (BPDB) has raised concerns over more than Tk 13.5 billion of its deposits blocked in five financially troubled banks, officials said.
The affected lenders include First Security Islami Bank, Global Islami Bank and Union Bank, as well as Padma Bank and National Bank PLC, according to BPDB officials.
First Security Islami Bank, Global Islami Bank and Union Bank recently joined with EXIM Bank and Social Islami Bank to form a Shariah-based banking platform. Together, the three banks are holding Tk 6.15 billion of BPDB funds that remain unreleased.
Padma Bank has the largest single exposure, with Tk 7.02 billion of BPDB deposits yet to be paid, followed by National Bank PLC with Tk 6.49 billion, making them the two biggest defaulters to the power utility.
Several of the banks have links to private power projects. Padma Bank has sponsored the 584MW Meghnaghat Unique Power Plant owned by Nafis Sarafat, while S Alam Group-backed entities are associated with the 1,320MW Banshkhali power plant. National Bank has ties to the Sikder Group-owned 100MW Keraniganj power plant.
“Our blocked amounts in different troubled banks have come down significantly over time,” BPDB chairman Engr Rezaul Karim told Just Energy News, citing steps taken by the utility to recover funds.
A senior official at the Power Division said the government may seek the intervention of the Finance Division to help recover the remaining sums. The official added that the blocked amount had previously been higher and was reduced through various initiatives by the Power Divison.
The five troubled banks—including First Security Islami Bank, Global Islami Bank, and Union Bank—that are in the process of being merged into the country’s largest state-run Islamic lender began repaying depositors earlier this year.
The other two banks are Export Import Bank of Bangladesh (EXIM Bank) and Social Islami Bank, which together form the newly established Sammilito Islami Bank PLC.
However, the Bangladesh Power Development Board (BPDB) has yet to receive any outcome regarding the deposits it made, officials said.
BPDB’s outstanding electricity and gas bills stood at around Tk 37,000 billion as of December 2025. Officials said the release of the blocked deposits would ease the utility’s financial pressure at a time when it is struggling with mounting arrears.