BDBL merging with Sonali Bank, Rakub with Krishi Bank Bank Merger

BDBL merging with Sonali Bank, Rakub with Krishi Bank

Bangladesh Live News | @banglalivenews | 05 Apr 2024, 06:04 pm

Dhaka, April 5: The government has decided to merge two state-owned banks with two other banks. The two banks are Bangladesh Development Bank (BDBL) and Rajshahi Krishi Unnayan Bank (RAKUB).

BDBL is merging with Sonali Bank. RAKUB is merging with Krishi Bank. Bangladesh Bank has informed the concerned banks about the decision to merge.

According to the relevant sources, on Wednesday, a separate meeting was held with the chairman and managing directors (MD) of the four government banks and informed about this decision.

Bangladesh Bank Governor Abdur Rauf Talukder, Deputy Governor Nurun Nahar, Advisor Abu Farah Md. Naser and Executive Director Saiful Islam were present in the meeting.

In the meeting, the banks were informed that Bangladesh Bank will soon issue a policy regarding the merger of the banks. After that, according to the policy, the board of directors of respective banks should decide to merge. It will then start the merger process by signing the Memorandum of Understanding.

When asked about this, Bangladesh Bank Executive Director and Spokesperson Md. Mehbaul Haque said that the issue of merging weak banks is being held in series of meetings. There was a meeting yesterday too, many issues were discussed. But we will let you know if there is a need to make an official announcement.

The spokesman of the central bank said that nothing more can be said.

It was announced that Padma Bank (formerly Farmers Bank), which was in crisis due to irregularities and fraud, will be merged with Shariah-based private Exim Bank. A Memorandum of Understanding (MoU) was signed between these two private sector banks on March 25 to advance this process. After Padma Bank, the government has taken the initiative to merge two public sector banks. In this case, an initiative was taken to merge the two weak government banks with the other two government-owned banks.