Yunus highlighted Bangladesh's strategic location and skilled workforce, positioning it as a potential manufacturing hub for global companies

This decision reverses the bank’s earlier plan from March 2024 to merge with Padma Bank

The decline in NOCFPS was primarily due to increased investments in customers and a fall in deposits

BB forms new five-member board for Exim, keeping three shareholder directors unchanged

The anti-money laundering agency instructed the lenders to keep the accounts frozen for the next 30 days

Mergers cannot be based on the arbitrary decisions of authorities. This amounts to an imposition of the liability of poor banks on well performing banks.

Exim Bank's profit declined 9.4 percent year-on-year to Tk 337 crore in 2023, according to a disclosure on the Dhaka Stock Exchange (DSE) website yesterday.

Bangladesh Bank will focus on five merger or amalgamation proposals it has already received and not accept any other proposals for the time.

Initially, it is the general stock investors who might be at the receiving end of the process while the loan defaulters, whose misdeeds are largely responsible for Padma Bank’s current misfortunes, might come out victorious.

Both banks are weak as per a Bangladesh Bank health index of banks and it is very difficult to get any positive result by merging two weak banks, said Fahmida Khatun, executive director of the Centre for Policy Dialogue.

The planned merger of Shariah-based Exim Bank and struggling Padma Bank is likely to take between 18 months to two-and-a-half years to complete, according to central bank officials.

The MoU will open the process of merger

The news that Shariah-based Exim Bank is going to merge with troubled commercial lender Padma Bank has taken the financial sector of Bangladesh by surprise.

Padma Bank, which has been struggling with the burden of toxic loans for years, will merge with EXIM Bank. It will be the first bank merger in Bangladesh

The investment (overdrawn) facility will facilitate the execution of inward remittance on time, said the bank in a filing on the Dhaka Stock Exchange.

The bank reported consolidated earnings per share of Tk 2.57 for the last financial year compared to Tk 1.49 in 2021.

Dhaka and New Delhi are going to take some fresh measures, including formation of a joint monitoring committee, to quickly