The first of its kind in Bangladesh, Padma Bank will combine with the Shariah-based EXIM Bank (Export Import Bank of Bangladesh).
At the board meeting of Exim bank this morning, the decision was made, and it was also determined that a press conference would be conducted on Monday regarding this matter.
“We have taken decision to merge with Exim Bank. We already finalised the draft of the MoU that will be signed on Monday at Bangladesh Bank headquarters in the presence of the central bank governor,” chairman of Exim Bank Nazrul Islam Majumder told BSS.
He said that the new single organization will be called Exim Bank and that the name Padma Bank will no longer exist.
This will be the nation’s first voluntary merger. Although there have been mergers in the past, this will be the first that is voluntary.
The governor demanded a few days ago that bank owners choose their partners for mergers, failing which forced mergers will occur.
