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Areef Billah Adil Chowdhury, a former managing director (MD) of Bank Asia, is set to take on the same role at National Bank.
Multiple senior officials of National Bank confirmed that Bangladesh Bank has approved his appointment for a three-year term.
He will assume the role next month and serve through June 2028, according to bdnews24.com report.
The bank’s chairman Abdul Awal Mintoo confirmed the appointment on Monday, saying the incoming MD is expected to join in July.
Adil joined Bank Asia as deputy managing director (DMD) in August 2020, later promoted to additional MD.
He became MD of the same bank in November 2022 but resigned eight months later in July 2023 citing “personal reasons”.
In January, Touhidul Alam Khan resigned as MD of National Bank, along with DMD Abdul Matin.
Imran Ahmed is currently serving as acting MD.
National Bank has been in deep trouble over the past year, amid allegations of massive loan irregularities and internal boardroom rifts.
Under the now-ousted Awami League government, the Anti-Corruption Commission (ACC) filed a case against 29 people—including board directors and executives—accusing them of misappropriating Tk 4.59 billion using fake bills.
Several members of the Sikder family, long linked with the bank’s control, were among the accused.
In December 2023, amid a leadership struggle within the Sikder family, Syed Ferhat Anwar was appointed chairman.
During his tenure, discussions began over a potential merger with United Commercial Bank (UCB).
Those talks, however, fell through after the Awami League government was toppled on Aug 5, 2024.
By then, National Bank—already hit by loan fraud and mismanagement—had entered a liquidity crisis.
Bangladesh Bank later dissolved the bank’s board, which had been under the control of the Chattogram-based S Alam Group.
After the reshuffle, founding sponsor and BNP leader Mintoo returned as chairman of the bank.