BDBL, RAKUB to be merged with Sonali, Krishi Bank

State-run Bangladesh Development Bank PLC (BDBL) is set to merge with Sonali Bank, while Rajshahi Krishi Unnayan Bank (RAKUB) will be taken over by Bangladesh Krishi Bank (BKB) as part of disciplining the banking sector.

The move follows the merger of private-sector Padma Bank with Exim Bank, reports UNB.

The primary decision of the latest merger of banks was taken at a meeting between Bangladesh Bank (BB) Governor Abdur Rouf Talukder and the managing directors of the respective banks at the BB headquarters on Wednesday.

A deal will be signed on Monday (April 8) between the BKB and RAKUB at the central bank in this regard.

Md Shawkat Ali Khan, managing director of BKB, said that the central bank called a meeting with the chairmen of both banks and discussed the overall situation of the banks.

On the merger of state-owned banks, on behalf of the government, the BB will take a final decision regarding the merger issue, he said.

However, the BB official confirmed that a deal signing between BKB and RKUB is scheduled to be held on Monday.

The government took the decision in principle to merge BDBL with Sonali Bank. But it will take some time to reach a deal between Sonali Bank and BDBL, said an official of BB.