DHAKA, May 12, 2024 (BSS) - Sonali Bank PLC and Bangladesh Development

Bank (BDBL) PLC today signed a Memorandum of Understanding (MoU) to start
proceedings to merge their operations.

The development comes after the state-run bank last month got approval
from its board to merge with Sonali Bank, the largest bank in the
country.

Bangladesh Bank Governor Abdur Rouf Talukder, Sonali Bank Chairman
Ziaul Hasan Siddiqui, its Managing Director and CEO Md Afzal Karim and
BDBL Chairman Shamima Nargis and its Managing Director Md Habibur
Rahman Gazi were present, among others, at the event.

Following the signing, Sonali Bank Managing Director Afzal Karim
reassured BDBL Bank employees that the merger with Sonali Bank would not be a cause for concern.

"The unified entity would be stronger. Bangladesh Bank will initiate
further steps by appointing an audit firm," he added.

In 2009, Bangladesh Shilpa Bank and Bangladesh Shilpa Rin Sangstha
merged to form BDBL.