Padma Bank depositors need not worry: Exim Bank Chairman


Staff Reporter :
Depositors at Padma Bank will not suffer after the merger with Exim Bank; deposits will remain as they are.

Apart from this, the manpower of Padma Bank will not be harmed either.

Nor will shareholders suffer.

But the regulatory body will take a decision on those who were involved in the irregularities at Padma Bank.

Nazrul Islam Majumdar, Chairman of Exim Bank and Bangladesh Association of Banks (BAB), Chairman of Exim Bank and Bank Entrepreneurs Organization, said these things to the journalists after signing the memorandum of understanding regarding the merger of Exim Bank with Padma Bank on Monday.

Senior officials of Padma and Exim Bank were present at this time.

Nazrul Islam Majumder said the two banks will be stronger by merging.

Exim Bank has merged weak banks like Padma for the sake of the country and the economy.

But what will happen to those who were involved in the irregularities at Padma Bank, Nazrul Islam Majumder said in response to the question of the journalists that it is a matter for the regulatory agency.

In response to the question of what will happen to the managing director and directors of Padma Bank, Exim Bank Chairman Nazrul Islam Majumder said that the banks directors are not there if the bank is weak.

They will remain as shareholders.

There is no such thing as a Padma Bank.

He said that no decision has been made regarding the managing director.

He also said, “We will try to keep him with respect.”


He said that Exim Bank would accept all the liabilities of Padma Bank.

Both banks have assets and liabilities.

He told reporters that they would be evaluated by an audit organization.

He also said that the bad loans may not be recovered, but EXIM Bank will try to ensure that the bank can be managed well from now on.

Bangladesh Bank will provide policy support to the two banks; everything else will be managed in light of that support.

However, nothing has been detailed about this.

Apart from this, Exim Bank said that an asset management company will be formed to manage bad debts in the country.

He said Bangladesh Bank will provide details in this regard.

Nazrul Islam Majumdar was asked whether you are merging this bank because of your previous friendship with the former chairman of Padma Bank, Chowdhury Nafiz Sarafat.

He said, “I am the chairman of BAB; I have relations with the chairman of all the banks.

There is nothing separate from him.”

In response to the question that defaulted loans have increased in the country in the last few years, can he avoid this responsibility as the chairman of BAB, Nazrul Islam Majumdar, said, “It is not our concern and the matter of Bangladesh Bank.

However, the directors have taken money, which is wrong.”