Export Import Bank of Bangladesh PLC (Exim Bank) will not merge with Padma Bank discussed in the private sector. The matter has been clarified by the new chairman of the bank.
After the meeting with Bangladesh Bank Governor on Monday (October 14), Exim Bank Chairman Md. Nazrul Islam dream.
He said, the bank needs liquidity support to turn around. Bangladesh Bank has already given 1000 crore taka to the bank and says that more assistance will be given if needed.
Exim Bank entered into an agreement to merge with Padma Bank under the name of Sabol Bank despite its weak financial condition. After the formation of the interim government, former chairman Nazrul Islam Majumder’s mismanagement and corruption emerged. Even banks that are prone to corruption have created a large-scale liquidity crisis.
In such a situation, the members of the new board of directors of Exim Bank sat in a meeting with the governor of Bangladesh Bank. They highlighted various problems of the bank to the governor. Want liquidity support.
Exim Bank Chairman Nazrul Islam Swapan said, I will take Tk 300 to 350 crore, which will be enough for us for two months. No word yet on merging with Padma. As I said, there will be no merger until the bank is stable for the next 6 months.
According to Bangladesh Bank, 1000 crores of liquidity has already been given to Exim Bank. More assistance is in the process. Besides, the spokesperson also said that policy interest will be increased to control inflation.
In this regard, the spokesperson of Bangladesh Bank Husne Ara Shikha said that Exim Bank has received liquidity assistance of Tk 1000 crore before. So it cannot be said that they did not get it. In the future, Bangladesh Bank is looking into their application for guarantee.
Before this, Bangladesh Bank formed the new board of Exim Bank on 29th August. Although one and a half months have passed, the new board has not been able to reveal the information about the aggressive loan disbursement of the former board.
