City Bank

Three banks want more time to remove same-family directors

National Bank, City Bank and Premier Bank have failed to comply with the central bank's directive to bring down the number of directors from the same family to a maximum of two. The central bank last week asked four private banks to cut the number down in seven days. Only First Security Islami Bank complied with the directive within the deadline, according to Bangladesh Bank. The three other banks sought one to three more months to comply with the directive, but the regulator extended the deadline till October 30, a BB official said. National Bank has five directors from a family. City Bank has nine directors from two families. Four directors of Premier Bank come from one family.

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