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Sonali Bank, BDBL Bank sign MoU on merger

Sonali Bank, BDBL Bank sign MoU on merger
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City Bank eyes takeover of BASIC Bank

BASIC Bank to be merged with City Bank : State-owned and trouble-ridden BASIC Bank is expected to merge with City Bank a development that comes less than a week after the government decided in principle to merge four state banks

City Bank likely to take over BASIC Bank

Troubled state-owned BASIC Bank is likely to be acquired by private sector lender City Bank as the central bank is forging full steam ahead with its plan to engineer the takeover of weak banks with stronger ones.

Directors, top officials of merged banks can t hold posts in acquiring entity

The guideline comes four months after the BB issued the Prompt Corrective Action (PCA) framework to give a procedural direction for mergers and acquisitions amidst the deteriorating financial condition of some banks and financial institutions.

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