The bank's board told the governor they support Bangladesh Bank's consolidation initiative, pledging capital support of Tk 350 billion
The board of First Security Islami Bank has agreed to a government-backed plan to merge five private banks, formally conveying their consent to Bangladesh Bank Governor Ahsan H Mansur.
As part of the consolidation process, the bank's directors presented the governor with findings from a foreign audit, which outlined key financial indicators.
Following the review, the board told the central bank on Tuesday that they were willing to proceed with the merger.
"We showed the governor the financial indicators identified in the foreign audit," the private bank's Chairman Abdul Mannan told reporters.
A final decision is expected after meetings with all five banks involved, with the governor set to review their financial indicators before making his ruling.
Mannan said the bank placed its financial position before the governor and did not oppose the initiative.
"Our main goal is to safeguard customers' interests, ensure job security for employees and improve the bank's infrastructure," he said.
He added that Tk 350 billion in capital support would be injected once the merger takes place.