Padma Bank on September 2nd, 2021 made a Memorandum of Understanding with DelMorgan& Co a California based investment bank in Santa Monica, Los Angeles, USA.
In the ceremony Padma Bank Chairman Mr. Chowdhury Nafeez Sarafat and DelMorgan Chairman Mr. Rob Delgardo was present. The memorandum of Understanding was kicked off by Ehsan Khasru, MD & CEO on behalf of Padma and Neil Morganbesser, President & CEO on behalf of DelMorgan. Mr. Samir Asaf Managing Director and Head of Global Opertions for Bangladesh facilitated the ceremony of potential $700 million debt and equity capital which may involve change of control of the bank. Chairman termed this event as a to step into a next level of excellence in the financial history of Bangladesh. He also added that Padma Bank made an opportunity to enter into an international financial arena under M&A transactions.
Merger and Acquisition is globally a popular way of bringing two entities into one for converting themselves into a stronger entity in order to take significant share & interest in the market. Globally large number of M&A deals are frequently happening to propel the growth dynamics of business entities. The general clients of the merging banks are not impacted at all in the merger process and merger consequence.
Rob Delgado, Chairman of DelMorgan& Co., stated, ”We are excited to be working with Padma Bank. We are looking forward to facilitate foreign investments to the opportunity presented by the Bank.” Neil Morganbesser, President & CEO of DelMorgan& Co., added, “We at DelMorgan have been very impressed with the quality and vision of the Padma Bank management team. We are extremely enthusiastic about the opportunity to bring our experience and worldwide reach to introduce Padma Bank to interested investors, and vice versa.” Samir Asaf, Managing Director of DelMorgan& Co., added, “Bangladesh is an economy that the world is only recently discovering, but the opportunities are truly remarkable, with tremendous economic growth and a rapidly expanding financial sector. As head of Bangladesh operations for DelMorgan, I am proud and excited to be able to play a part in that growth for the country.”
About DelMorgan& Co.
Headquartered in Santa Monica, California, DelMorgan& Co. is an internationally recognized investment bank and financial advisor. With over three decades of experience and over US$300 billion in successfully completed transactions, the professionals at DelMorgan& Co. provide world-class financial advice and assistance to companies, institutions, governments and individuals around the world.