EXIM Bank, a private sector financial institution, has announced that it will not proceed with the planned merger with Padma Bank. The announcement was made on Tuesday following nearly nine months of discussions regarding the merger of the crisis-ridden Padma Bank with the more stable EXIM Bank. No Padma Bank employee will lose job: Exim Bank Chairman says after signing merger The decision came after a board meeting on Monday, where EXIM Bank's directors decided that the amalgamation would not go ahead. The merger was initially agreed upon on March 14, after Padma Bank, plagued by financial difficulties and a history of scams, was unable to recover despite receiving a government bailout of Tk1,700 crore. Exim Bank incurs Tk 566cr loss in 2024 Q3 as deposits slump The Dhaka Stock Exchange (DSE) had been informed of EXIM Bank’s application to halt the merger earlier this week. With this development, officials said, Padma Bank, which has faced significant financial strain, will need to explore other options for stabilising its operations.