May 25, 2024, 8:04 pm

No other bank mergers except 5 proposed banks: BB

  • Update Time : Monday, April 15, 2024
  • 19 Time View
Photo: Collected

Desk Report:

Bangladesh Bank (BB) today stated that no new bank merger will be done for the time being apart from these 5 banks – Bangladesh Development Bank (BDBL), Rajshahi Krishi Unnayan Bank, Basic Bank, Padma Bank, and National Bank.

This was informed on Monday (April 15).

BB states that the banks which have decided to merge “must be resolved”. “No other bank mergers will be done” for the time being. Whether any more bank mergers can be done will be considered later.

Mentioned that after the announcement of the merger of Padma and Exim Bank, the names of dozens of public and private companies have come to the list. Analysts say that good governance in this sector cannot be restored by just merging weak banks. Action should be taken against the responsible directors also.

After long discussion and criticism, two private institutions Padma and Exim Bank started the process of merger. However, there were dozens more domestic and foreign names on this list. Among these private National, AB, Union, Global Islami, and ICB Islamic Bank are notable. Apart from this, BASIC, BDBL, and Rajshahi Krishi Unnayan Bank were among the state-owned companies.

Although the process of merger has started, the central bank has not yet given a specific policy in this regard. As a result, many things remain unclear. In such a situation, former bankers demand quick initiatives to restore the trust of customers.

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