DHAKA (CU)_Over the past few years, Padma Bank Limited, formerly known as the Farmers Bank Limited, has been grappling with a series of loan scams and irregularities, nearing collapse for lending anomalies back in 2017. Although four state-owned banks, Sonali Bank, Janata Bank, Agrani Bank, and Rupali Bank, together with the Investment Corporation of Bangladesh, came up with a Tk7.15 billion (US$83.7 million) bailout the following year, its condition continued to deteriorate later. Therefore, in early-September this year, the Dhaka-based commercial bank wrote to the government of Bangladesh requesting for their assistance to tackle the situation in a proposal presented to the Bangladesh Bank via the Finance Ministry.
In its proposal Padma Bank requested the cooperation of the Finance Ministry to…
