Bangladesh Bank has dissolved the board of directors of National Bank around four and a half months after reforming it. The Bangladesh Bank informed the commercial bank about the reformation of the board in a letter. Asked why they quit just four and a half months after taking the reins, he said: “The Bangladesh Bank will give the answer. At that time, the Bangladesh Bank reportedly began mediation between National Bank, the first Bangladeshi private bank founded by a set of entirely local sponsor directors in 1983, and United Commercial Bank Limited or UCB, another bank formed the same year. The National Bank initially appeared to agree with the Bangladesh Bank on a possible merger with another bank, but its directors finally decided not to set the plan in motion for now.

Source: bd News24 May 05, 2024 20:13 UTC