Padma-Exim Bank signed MoU to merge

Staff Correspondent : Private sector Padma Bank has signed a memorandum of understanding with Exim Bank for the purpose of merger. Henceforth the bank will operate under the name Exim Bank.
The agreement was signed in the presence of Bangladesh Bank Governor Abdur Rauf Talukder on Monday. Padma Bank Chairman Afzal Karim, Exim Bank and BAB Chairman Nazrul Islam Majumder and others were present on the occasion.
Exim Bank Chairman Nazrul Islam Majumder said that Padma Bank will no longer exist from tomorrow. Due to the merger of the bank, the new operations will be carried out under the name of Exim Bank. No employees will lose their jobs despite the merger. However, the directors of Padma Bank cannot be on the Board of Directors of Exim Bank. No decision has been made regarding the managing directors of the two banks.
Bangladesh Bank spokesperson Majbaul Haque said that the two banks have agreed to merge. Then they will apply. Bangladesh Bank will audit if their proposal is approved. Then the merger will be approved.
Then if a new bank is allowed to start, Padma Bank will disappear. Until then, the two banks will continue as usual.
Exim Bank’s Board of Directors meeting discussed and decided to merge with Padma Bank last Thursday. The Board of Directors of Padma Bank also took a decision on the same day.