Following First Security Islami Bank, Union Bank has also agreed to a merger initiative. The bank made its position clear during a meeting held at the Bangladesh Bank conference room on Wednesday morning.
Bangladesh Bank Governor Dr Ahsan H Mansur attended the meeting virtually, with the presence of four deputy governors and officials from the Resolution Department. Union Bank’s Chairman Md Farid Uddin, along with other officials, and Managing Director Humayun Kabir were present at the meeting.
After the meeting, Md Farid Uddin said, “Depositors are coming to withdraw their money, but we are unable to provide it. The sooner decisions are made regarding these banks, the better. These banks could be merged, restructured, or undergo some other process.”
He explained that the S Alam Group had taken Tk28,000 crore from Union Bank, and those who took loans in their names could not be traced. This is causing a delay in returning depositors’ money.
Later in the afternoon, a meeting will be held with EXIM Bank. On Thursday morning, a meeting with Global Islami Bank is scheduled, and another one with Social Islami Bank will take place in the afternoon.