Higher Board to merge fund banks

Studies launched to merge and sell the eight banks in the savings fund


       The idea to merge eight fund banks under one roof, which has busied the
       economy lobby recently, revealed to be suggested by Inspection Board of
       Banking.
       Sources in banking sector said, the Higher Board plans to merge and sell the
       eight banks in the Saving Funds as one bank and the erratic assets to be
       transfered to a company to be founded.
       A banker who stated that the Board considers the model seriously said, the
       final decision will be given in a month time.
       The greatest problem would be the high cost of merging, said the banker.
       "The model should be carefully analysed as the operation would cost high,"
       he added.

10 thousands will be left unemployed

       Bankers also point of that the merging of the banks would also bring
       additional expenses like, the infra-structure for information, savings
       ledger, credit cards and other stationaries.
       They added as the branches would be close to each other in many cities, some
       of the branches would be closed and this would mean ten thousands of workers
       to be left unemployed.