FE Report
The Bangladesh Bank (BB) has cleared the Social Investment Bank Limited (SIBL), a private commercial bank, from its list of problem banks for achieving significant improvements in its financial position.
The central bank issued a letter to the SIBL Monday announcing that the latter has been cleared from the list since November 5, 2007.
"We have issued a letter to the SIBL in this connection," a BB senior official told the FE Monday.
He also said the central bank took the decision after assessing the actual financial performances of SIBL that indicated towards marked improvement.
Both the financial indications and overall function of management of the bank has already made tremendous progress in line with the central bank directives, the BB said in a circular, issued Monday.
The private commercial bank was included in the problem bank list in 2005 due to weak financial and management performances.
SIBL cleared from list of problem banks
FE Team | Published: November 06, 2007 00:00:00 | Updated: February 01, 2018 00:00:00
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