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Sunday, 19 May 2024
BB plans to merge 10 banks in a year

BB plans to merge 10 banks in a year

Staff Correspondent

Bangladesh Bank (BB) Executive Director and Spokesperson Mezbaul Haque today informed that the regulator is planning to merge 10 banks within a year.

“Following the merger, the weak bank can become the strong bank while strong banks can be stronger banks,” he told reporters in a press briefing at BB headquarters in the city.

Mezbaul Haque said BB's various departments assess different components regularly for financial risk management.

But it is not a real health indicator, he added.

He said, "We developed a Prompt Corrective Action (PCA) framework to classify banks. As a result, banks will be evaluated in four categories. This will be done based on the balance sheet of 2024. It will be implemented from May 2025."

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