Bangladesh to close 500 bank branches

BANGLADESH - The central bank in Bangladesh has disclosed a plan to close down 500 branches of state owned commercial banks which were incurring losses over the last five years.

The decision came in the backdrop of growing pressure from the World Bank and other multilateral agencies to speed up reform in the banking sector.

World Bank officials say the country's bad debt and inefficient surplus workforce were the two main problems that crippled its nationalised commercial banks.


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