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Government to Initiate Banks’ Consolidation Process After First Quarter Results
August 16, 2017
According to a senior official, the government has decided to initiate the banks’ merger process as soon as their performance results of the first quarter of the current fiscal are out. He said that various factors will play a role in the process that includes financial burden, geographical reason, etc., also adding that a weak bank cannot be consolidated with a strong bank as it could hamper its performance.
It’s worth noting that the finance ministry had called some of the banks in the recent past to get an understanding of their financial situation through NPAs and the CBS technologies used by them.
