Sonali, BDBL sign MoU to proceed with merger plan

Business Report :
State-owned Sonali Bank and Bangladesh Development Bank PLC (BDBL) have finally decided to start proceedings to merge their operations on Sunday.
As such, Sonali and BDBL on Sunday signed a memorandum of understanding at the Bangladesh Bank. The development comes after state-run bank last month got approval from its board to merge with Sonali Bank, the largest bank in the country. Bangladesh Bank Governor Abdur Rouf Talukder, Sonali Bank Chairman Ziaul Hasan Siddiqui, its Managing Director and CEO Md Afzal Karim and BDBL Chairman Shamima Nargis, and its Managing Director Md Habibur Rahman Gazi were present among others at the event.
Ziaul Hasan Siddiqui said they took the time to scrutinise the agreement thoroughly before signing the deal.
“We have taken the decision by ourselves and without any influence. We then approached the Bangladesh Bank governor and informed him that we want to merge with BDBL.”