Weak banks need merger: PM

Expressing apprehension that the Covid-19 situation may worsen during the upcoming winter, Prime Minister Sheikh Hasina on Sunday asked everyone to bolster preparation to fight the pandemic in wintertime, report agencies.
"Winter is coming up. The situation may deteriorate to some extent. But we've to take preparation from right now," she said while receiving donation of Tk 1.66 billion for the PM's Relief and Welfare Fund from over 40 organisations.
She joined the function through a videoconference from her official residence Ganobhaban as the representatives of the organisations handed over cheques to PM's Principal Secretary Dr Ahmad Kaikaus at the Prime Minister's Office.
Of them, 34 commercial banks led by Bangladesh Association of Banks (BAB) provided total Tk 1.64 billion as donation.
Sheikh Hasina said everyone has been working with utmost sincerity to fight Covid-19 pandemic in the country. "That's why we've been able to face it."
Referring to her government's efforts including announcement of stimulus packages to offset the COVID-19 impact on the country's economy, she said, "We are taking effective measures to keep running the country's trade and commerce. We have declared stimulus packages. And we are giving whatever necessary (to keep functioning the country's economy) as our target is to serve the people."
The premier thanked the Bangladesh Association of Banks (BAB) as they extended their hands whenever the country fell in any crisis.
Bangladesh has so far recorded 347,372 cases with 4,913 fatalities. The first cases were reported on March 8 and the first death on March 18. So far, 254,386 patients have recovered, pushing the recovery rate to 73.23 percent.
Currently, there are 88,073 active cases in the country.
There is currently no vaccine for coronavirus but a number of promising candidates are in the final stage of trial.
Talking about the banks, she hinted that the weak banks will be merged following proper assessments, if necessary.
The Prime Minister requested the BAB to give special attention so that the banks could operate in a proper manner.
"There are some banks which become very weak. In that case, merging (of banks) is required very often.
But a proper scrutiny is necessary on which banks are functioning properly and which are not. Keep faith (in me), nothing would be done to this end without any assessment," she said.
"So, we want that the banks will operate their functions properly. We always consider all of your logical demands that you place (before me). I will consider if you have any problem in running the banks," she continued.
Other organisations that made donations are Food Ministry, Foreign Officers Spouse Association (FOSA), Rajshahi Medical University, Institute of Architects Bangladesh, Bangladesh Judicial Employees Association and Minister Group. Alongside the cash money, Minister Group provided 100,000 surgical masks.
The 34 banks are - AB Bank Ltd, Al-Arafah Islami Bank Ltd, Bank Asia Ltd, BRAC Bank Ltd, City Bank Ltd, Dhaka Bank Ltd, Dutch-Bangla Bank Ltd, Eastern Bank Ltd, EXIM Bank, First Security Islami Bank Ltd, Islami Bank (Bd) Ltd, Jamuna Bank Ltd, Mercantile Bank Ltd, Midland Bank Ltd, Modhumoti Bank Ltd, Mutual Trust Bank Ltd, National Bank Ltd, NCC Bank Ltd, NRB Bank Ltd, NRB Commercial Bank Ltd, NRB Global Bank Ltd, One Bank Ltd, Padma Bank Ltd, Prime Bank Ltd, Pubali Bank Ltd, SBAC Bank Ltd, Shahjalal Islami Bank Ltd, Social Islami Bank Ltd, Southeast Bank Ltd, Standard Bank Ltd, Trust Bank Ltd, Union Bank Ltd, United Commercial Bank Ltd and Uttara Bank Ltd.
The Prime Minister thanked the organisations for their contributions to the PM's Relief and Welfare Fund.