New Era | Sonali Bank signs MoU for merger with BDBL

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Sonali Bank PLC and Bangladesh Development Bank (BDBL) PLC on Sunday signed a memorandum of understanding to initiate the process of merging their businesses.

The development comes after the state-run lender received board approval last month to merge with Sonali Bank, the country’s largest lender.

The event was attended by Bangladesh Bank Governor Abdur Rouf Talukder, Sonali Bank Chairman Ziaul Hasan Siddiqui, Managing Director and CEO Md Afzal Karim, BDBL Chairman Shamima Nargis and Managing Director Md Habibur Rahman Gazi.

After the signing, Sonali Bank Managing Director Afzal Karim assured BDBL Bank employees that the merger with Sonali Bank would not cause any concern.

“The unified entity will be stronger. Bangladesh Bank will take further steps by appointing an audit firm,” he added.

In 2009, Bangladesh Shilpa Bank and Bangladesh Shilpa Rin Sangstha merged to form BDBL.

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