Merging a weak bank with a strong bank without addressing the issues that caused the weak banks to fail in the first place might bring down both the banks
BASIC Bank to be merged with City Bank : State-owned and trouble-ridden BASIC Bank is expected to merge with City Bank a development that comes less than a week after the government decided in principle to merge four state banks
Crisis-hit BASIC Bank likely to merge with City Bank newagebd.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newagebd.net Daily Mail and Mail on Sunday newspapers.
Troubled state-owned BASIC Bank is likely to be acquired by private sector lender City Bank as the central bank is forging full steam ahead with its plan to engineer the takeover of weak banks with stronger ones.
The guideline comes four months after the BB issued the Prompt Corrective Action (PCA) framework to give a procedural direction for mergers and acquisitions amidst the deteriorating financial condition of some banks and financial institutions.