It is the second merger since the central bank began accepting proposalsThe state-owned Sonali Bank and Bangladesh Bangladesh Development Bank Limited have signed a Memorandum of Understanding to merge in the presence of the governor of Bangladesh Bank. This former bureaucrat said, "On Apr 3, we were called to Bangladesh Bank, the board of Sonali Bank was also there. Since Sonali Bank wants to take us, the board has decided to go for the merger.”On Apr 8, the board approved the merger proposal of BDBL and Sonali Bank. That means the central bank holds the right to instruct any bank to take over the responsibility of a weak bank. With 1,232 branches, including two abroad, Sonali Bank is the largest commercial bank owned by the state.

Source: bd News24 May 12, 2024 12:15 UTC