Union Bank has agreed to join the ongoing bank merger initiative following First Security Islami Bank.
The decision was conveyed at a meeting held on Wednesday at Bangladesh Bank鈥檚 headquarters.
Governor Ahsan H Mansur joined the meeting virtually, while four deputy governors, officials from the resolution department, Union Bank chairman M Farid Uddin, and managing director Humayun Kabir were present in person.
After the meeting, Farid Uddin told reporters that depositors are coming to withdraw their money, but we are unable to pay them.
The sooner a decision is taken regarding these banks, the better. Whether through merger, restructuring, or another approach, a resolution is urgently needed.
He further claimed that S Alam Group had taken Tk聽28,000 crore from Union Bank.
The borrowers in whose names the loans were taken cannot be traced, which is why it has become difficult to return depositors鈥� money, he said.
Bangladesh Bank also hold separate meeting with Exim Bank. BB officials said that EXIM Bank sought time to recover from the financial condition and avoid merger.
Meetings with Global Islami Bank and Social Islami Bank are planned for Thursday morning and afternoon, respectively.
