The government has decided to merge the Rajshahi Krishi Unnayan Bank (RAKUB) and the Bangladesh Development Bank Limited (BDBL) with the Bangladesh Krishi Bank (BKB) and Sonali Bank, respectively.
The banking sector regulator, Bangladesh Bank, conveyed the decision separately to the chairmen and managing directors of the respective banks on Wednesday.
According to sources, the chairmen and managing directors of the four banks were called to the central bank on Wednesday, without any prior notice or hints about the agenda
The decision was conveyed through meetings, attended by key figures, including Bangladesh Bank governor Abdur Rauf Talukder, deputy governor Nurun Nahar, advisor Abu Farah Naser, and executive director Saiful Islam.
They briefed the concerned banks that the regulator would soon issue a comprehensive policy regarding the bank merger. Later, the respective banks’ boards of directors will take final decisions in line with the policy, while the next phase will be the commencement of the merger process.
According to sources, the chairmen and managing directors of the four banks were called to the central bank on Wednesday, without any prior notice or hints about the agenda.
In a meeting, the officials of the Sonali Bank and the BDBL were apprised of the government’s decision on their merger. Later, a similar meeting informed the top officials of the BKB and the RAKUB about the decision on their merger.
Earlier, two private sector banks – EXIM Bank and Padma Bank – signed an agreement for their merger on 25 March.
The government has now taken the initiative to merge two low-performing state-run banks with two others. Individuals concerned with the sector said the employees have nothing to worry about their jobs as the state-run banks are merging with similar ones.