State owned Sonali Bank's Ruposhi Bangla Hotel branch lent over 35 billion Bangladeshi taka ($454 million as of 2011) based on falsified documents.
Little-known company Hallmark Group received the majority, nearly Tk 27bn ($344M), with the remaining loans spread among five other companies: T and Brothers, Paragon Group, Nakshi Knit, DN Sports, and Khanjahan Ali.
[4] The perceived level of public sector corruption has consistently placed the country in the worst quartile of Transparency International's Corruption Perceptions Index.
One form this rampant corruption takes is senior officials in public sector banks making imprudent loans to well-connected private companies.
[5] State-owned banks are a major originator of bad loans to the private sector.