Basic Bank to merge with City Bank
Withdrawals put BASIC Bank in liquidity crisis
BASIC Bank is experiencing a deep liquidity crunch as depositors have been withdrawing money for weeks following news that the state-run lender is going to be acquired by a private commercial bank.
BASIC Bank officials ‘terrified’ by impending merger
As a state-run bank, BASIC Bank's officers and employees enjoy and job security alongside various employee benefits -- including salaries, provident fund facilities, gratuity, retirement allowance -- which may differ from those offered at City Bank.
City Bank likely to take over BASIC Bank
Troubled state-owned BASIC Bank is likely to be acquired by private sector lender City Bank as the central bank is forging full steam ahead with its plan to engineer the takeover of weak banks with stronger ones.
Withdrawals put BASIC Bank in liquidity crisis
BASIC Bank is experiencing a deep liquidity crunch as depositors have been withdrawing money for weeks following news that the state-run lender is going to be acquired by a private commercial bank.
BASIC Bank officials ‘terrified’ by impending merger
As a state-run bank, BASIC Bank's officers and employees enjoy and job security alongside various employee benefits -- including salaries, provident fund facilities, gratuity, retirement allowance -- which may differ from those offered at City Bank.
City Bank likely to take over BASIC Bank
Troubled state-owned BASIC Bank is likely to be acquired by private sector lender City Bank as the central bank is forging full steam ahead with its plan to engineer the takeover of weak banks with stronger ones.