Bangladesh Development Bank (BDBL) has entered into an MoU to voluntarily merge with Sonali Bank Limited.
The agreement was signed in a meeting held at Bangladesh Bank on Sunday (May 12). At that time, along with representatives of Sonali Bank and BDBL, Bangladesh Bank Governor Abdur Rauf Talukder and related officials were present.

As a result of this agreement, the assets and liabilities of both the banks will now be reviewed. After that the two banks will be merged after various processes.

According to BDBL sources, the merger was directed by Bangladesh Bank, and the board of Bangladesh Development Bank approved it. The matter was approved in the board meeting of Sonali Bank last Wednesday. The two government banks will merge as they agree. The agreement was reached today after informing Bangladesh Bank of the decision of the board of both the banks. After that, the next phase of the merger process will start as per the instructions of Bangladesh Bank.

Afzal Karim, Managing Director of Sonali Bank, said after signing the agreement, there is no reason for BDBL employees to fear as a result of the merger with Sonali Bank. The bank will be stronger; Bangladesh Bank will start the next activities with the appointment of audit firm.

Chairman of BDBL Shamima Nargis said, among the four indicators of BDBL, there is only weakness in recovery of defaulted loans, if given time, this problem could have been overcome; However, it has to be integrated with the advice of Bangladesh Bank.