Staff Reporter
Fixing the value of each share at Tk 100 three nationalized commercial banks (NCBs)–Sonali, Janata and Agrani banks-were formally made public limited companies (PLC) through the signing of separate “vendor” agreements to this effect yesterday.
The NCBs, after necessary gazette notification, will be operated by independent management and board of directors in accordance with the Banking Companies Act of 1994.
Having 100 per cent share of the PLCs, the government earlier appointed chairmen of the board of directors for the three banks. [Read more]