Basic Bank to merge with City Bank

State-owned and trouble-ridden BASIC Bank is going to merge with City Bank.

The country’s central bank took the decision at a meeting on Monday (April 8).

The meeting was held between Bangladesh Bank Governor Abdur Rouf Talukder and City Bank Chairman Aziz Al Kaiser and Managing Director (MD) Mashrur Arefin.

BB Spokesperson and Executive Director Md Mazbaul Haque said it is process, and if the matter was discussed, it would be known latter.

The development comes less than a week after the government decided in principle to merge four state banks.