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Padma Bank, Exim Bank to sign merger deal on Monday

 VB  Desk

VB Desk

Sun, 17 Mar 24

Padma Bank and Exim Bank will sign a memorandum of understanding today on merging Padma Bank with Exim Bank Plc.

Ahead of merging with Padma Bank, Exim Bank has published price-sensitive information as per the approval of the Bangladesh Bank.

Company secretary of Exim Bank Monirul Islam issued the notice containing price-sensitive information adding that the merger process will be completed after completing all formalities set by the regulator or the BB.

Earlier on March 4, the BB governor Abdur Rauf Talukder said in a meeting that with a delegation of the Bangladesh Association of Banks, an organisation of bank entrepreneurs, that 7 to 10 weak banks would be merged with strong or good banks within this year.

Padma Bank and Exim Bank are the first to merge voluntarily.

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