Mercantile Bank joins Tk41,000cr refinance package

Mercantile Bank PLC signed a participation agreement with Bangladesh Bank on Thursday under a Tk41,000 crore refinance package to support industry, rural economic activities, and cottage, micro, small, and medium enterprises.

The agreement was signed at the central bank’s headquarters on Thursday, according to a press release. The press release said Mercantile Bank received the invitation.

Bangladesh Bank’s Supervisory Data Management and Analytics Department organised the signing ceremony.

Under the agreement, Bangladesh Bank will mobilise up to Tk300 crore from Mercantile Bank’s surplus liquidity for up to three years to support agricultural development, rural economic activities and export diversification across the country.

The funds will support agricultural development, rural economic activities, and export diversification across the country.

Bangladesh Bank Deputy Governors Dr Md Kabir Ahmed and Md Sarwar Hossain, Executive Directors Md Enamul Karim Khan and Md Abul Bashar, and Supervisory Data Management and Analytics Department Director Md Abdul Mannan attended the ceremony, along with Mercantile Bank Managing Director Mati Ul Hasan, Deputy Managing Director Ashim Kumar Saha, and Head of Treasury Md Hasanuzzaman Bakshi.

Mercantile Bank Managing Director Mati Ul Hasan, Deputy Managing Director Ashim Kumar Saha, and Head of Treasury Md Hasanuzzaman Bakshi were also present.