National Bank won’t merge with any bank, says new chairman

National Bank Limited (NBL) will not merge with any bank, said the new chairman on Monday.

Khalilur Rahman said that he has already discussed this issue with Bangladesh Bank.

Asked about the central bank’s decision to merge National Bank with United Commercial Bank, he clarified: "We are not interested in merging with any bank. We have informed the Bangladesh Bank, and they have agreed. However, they set a condition that the bank must be restored to good standing from its current troubled state. Therefore, we are now exempt from any merger requirement."

He was speaking at a press conference at the NBL’s head office in Dhaka city after taking charge as its chairman.

Mr Rahman assured that no more corruption would take place in the bank.

“Those who have taken money from the bank will have to return it. Within a year, we will be able to restore the bank to its former state,” he added.

Earlier in the day, Bangladesh Bank once again dissolved the National Bank board of directors and formed a new board of directors, appointing the private bank's Sponsor Director Mr Rahman as its new chairman.