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United Commercial Bank (UCB) has ruled out any discussion regarding a possible merger, saying that no such initiative is under consideration by either Bangladesh Bank (BB) or the bank itself.
The country's first-generation private commercial bank (PCB) also reaffirmed that there is no merger issue involving UCB on the central bank's agenda.
"Any suggestion of a potential merger involving UCB is entirely incorrect," the bank said in a clarification on a news report under the headline 'Next IMF loan tranche uncertain for unfinished banking reforms, published by The Financial Express on its October 29 issue.
The ongoing merger discussions within the banking sector pertain to a few other institutions, as has been well-documented in publicly available sources, the clarification said, adding that a simple review of credible reports will confirm that UCB is not among the banks involved in these discussions.
In fact, contrary to the implications of the report, UCB continues to demonstrate robust business growth and sound financial health, according to the clarification.
In recognition of this performance, the central bank has already approved UCB's plan to raise additional capital from the market-an initiative that is currently underway, it added.