Bangladesh Bank spokesperson Mazbaul Haq said the two banks have signed an agreement for the merger. They will submit further applications. After their proposal is approved, Bangladesh Bank will review it.
Then they will be approved for merger. When permission is granted to launch the new bank, Padma Bank will be dissolved. He said that till then both the banks will continue to run normally.
The board of directors of EXIM Bank discussed and decided on the merger with Padma Bank in a meeting last Thursday. The Board of Directors of Padma Bank also took this decision on the same day.