Name of Padma Bank will not exist, merges with the Exim Bank

In a significant move within the banking sector of Bangladesh, Padma Bank has finalized its merger with the Shariah-based Exim Bank. The merger agreement, signed between these two private banks on Monday, March 18, marked a pivotal moment in the financial landscape of Bangladesh. 

The signing ceremony witnessed the presence of high-profile dignitaries, including Bangladesh Bank Governor Abdur Rauf Talukder, alongside officials and entrepreneurs from both entities.

Following the formal signing of the agreement, Exim Bank Chairman Md. Nazrul Islam Majumder addressed reporters, expressing his views on the historic significance of the merger. He emphasized the decision‍‍`s importance in driving the country‍‍`s development forward.

Chairman Majumder reassured stakeholders, stating, "Exim Bank depositors‍‍` funds remain secure, and the merger will not adversely impact Padma Bank personnel."

Elaborating on the rationale behind the merger, Chairman Majumder revealed, "The government extended an offer for Exim Bank to acquire struggling banks, leading to the acquisition of Padma Bank." 

Subsequently, Padma Bank‍‍`s name ceased to exist post-merger, marking a significant transition in the banking sector landscape.