A Memorandum of Understanding (MoU) was signed today by Sonali Bank PLC and Bangladesh Development Bank (BDBL) PLC to initiate the process of merging their activities.
The development follows the state-run bank’s board last month approving its merger with the nation’s largest bank, Sonali Bank.
Among those in attendance were BDBL Chairman Shamima Nargis, Bangladesh Bank Governor Abdur Rouf Talukder, Sonali Bank Chairman Ziaul Hasan Siddiqui, its Managing Director and CEO Md Afzal Karim, and BDBL Chairman Shamima Nargis and its Managing Director Md Habibur Rahman Gazi.
Employees of BDBL Bank were informed by Sonali Bank Managing Director Afzal Karim after the signing that there was nothing to worry about with the merger with Sonali Bank.
“The unified entity would be stronger. Bangladesh Bank will initiate further steps by appointing an audit firm,” he added.
Bangladesh Shilpa Rin Sangstha and Bangladesh Shilpa Bank combined to become BDBL in 2009.
