Staff Reporter :
The managing directors of Exim Bank and Padma Bank signed a memorandum of understanding on Monday to commence the merger process.
The signing ceremony was graced by Bangladesh Bank Governor Abdur Rouf Talukder, deputy governors, and other officials, with the chairmen of Padma Bank and Exim Bank also in attendance.
Following the signing ceremony at the head office of Bangladesh Bank, Nazrul Islam Mazumder, chairman of Exim Bank and the Association of Bankers, addressed the media.
He announced that Exim Bank would assume all responsibilities of Padma Bank henceforth and expressed confidence that Padma Bank would regain its health within a year.
Md Mazbaul Haque, the Executive Director and Spokesperson of Bangladesh Bank, stated, “Bangladesh Bank will make an announcement after the merger process is completed.
After that, the two banks will operate as one entity, and depositors will be able to withdraw money from Exim Bank.”
Reiterating his optimism, Nazrul Islam Mazumder assured that no official of Padma Bank would lose their job and emphasized that Padma Bank would indeed regain its health within the stipulated timeframe.
Chairman of Padma Bank, Md Afzal Karim, elucidated on the integration process, stating, “There are two ways to integrate.
We haven’t acquired; rather, we have merged-a merger between a strong bank and a relatively weak bank.
There are about 1,200 employees of Padma Bank. They will not be fired; instead, they will be working for Exim Bank.”
