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According to Prothom Alo’s report, the fourth generation Padma Bank is going to merge with the private Exim Bank of Islamic style. This decision was taken unanimously in the Exim Bank Board of Directors meeting on Thursday (March 14).
A director of Exim Bank confirmed this information to Prothom Alo on condition of anonymity. He said, for the time being, it has been decided to merge the private Padma Bank with our bank. Soon this decision will be sent to Bangladesh Bank for approval. This decision will be implemented after the approval of the relevant regulatory bodies including Bangladesh Bank.
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Bonikbarta said that Exim Bank is merging Padma Bank as the first bank in the country. The Board of Directors of Exim Bank has already approved the matter. Bangladesh Bank has also been informed about the merger of the two banks. Chairman of Exim Bank Nazrul Islam Mazumder confirmed the matter to bonikbarta.
A memorandum of understanding between the banks will be signed early next week at the central bank’s head office in the presence of Bangladesh Bank Governor Abdur Rauf Talukder to initiate the merger process.
Meanwhile, Bangladesh Bank spokesperson Mejbaul Haque recently said that the banks will have time till December to take voluntary merger steps. During this period, the banks themselves can decide who will merge with which. If not, the central bank will start this process in March. Spokesman and Executive Director Mazbul Haque also assured that the depositors will not be affected.
Source: Prothom Alo, Bonikbarta
