Photo : Collected
Distressed Padma Bank merged with Exim Bank. For that purpose, a memorandum of understanding has already been signed between these two private sector banks. And on the same day, Exim Bank’s share price fell by Tk 0.30 below its face value on the country’s main bourse Dhaka Stock Exchange (DSE).
According to DSE data, Exim Bank shares started trading at Tk 10 on Monday morning. On the day, the share price decreased by Tk 0.30 to Tk 9.70. Due to this, the share price of the bank fell below the face value. The share price of the bank remained at Tk 9.70 on Tuesday also.
Market experts said that the merged bank Padma is extremely controversial and distressed. Since the beginning, the bank has not won the trust of customers because of the controversies. In this situation, Exim Bank’s acquisition of Padma Bank has spread negative perception among investors.
Capital market expert Professor Abu Ahmed told The Daily Messenger that the answers to many questions about the Padma Bank merger are unknown.
Since the whole issue is unclear, the capital market regulator should look into the Exim Bank merger. After that, if any error is found, it needs to be reported to Bangladesh Bank, he observed.
Exim Bank disclosed price sensitive information regarding the merger last Sunday. As a result, common investors got to know the news of the merger officially through the capital market.
Padma Bank and Exim Bank have signed an agreement to merge on Monday. After that, Chairman of Exim Bank Nazrul Islam Majumdar told that every index of Exim Bank is in a good position, I hope it will be good. The human resources of Padma Bank, about 1,200 employees, none of them will lose their jobs. All will be working for Exim Bank. Besides, there will be no loss to the depositors and shareholders. Everything will continue as before.
Meanwhile, the impact of bank mergers has started to fall on the country’s capital market. As a result, among the 35 banks traded on Tuesday, the share prices of 23 banks fell. On the contrary, the share price of only 6 banks increased and 6 banks remained unchanged.
Messenger/Disha
