BASIC Bank
ISPR requests not to get misled by rumours over security of St. Martin’s
Inter Services Public Relation Directorate (ISPR) has urged all not to be misguided by rumours spreading through social media over the security of St. Martin’s island centering Myanmar's ongoing internal conflict near the island.
Factors to consider before bank consolidation
For a long time, the banking sector in the country has been plagued by various complex problems. Failures in recovering loans from defaulters engaged in fraudulent activities, inability to control internal malpractices and ensure good governance, increasing incidence of insider lending, and the proliferation of banks—all these complex issues have slowed down the normal functioning of the banking sector. It is primarily to address these problems that the decision to consolidate banks has been taken.
BASIC Bank merging with City Bank
BASIC Bank is expected to be acquired by the private sector lender City Bank, as the central bank pushes forward with its initiative to facilitate the acquisition of weaker banks by stronger ones.
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