Dhaka, April 8 -- Ongoing mergers and acquisitions in Bangladesh's banking sector gets in high gear now that City Bank decides on coupling with the weakened state-run BASIC, officials said.

The list of amalgamation in the banking industry is getting longer with the latest decision of merger of the crisis-ridden BASIC Bank with the City Bank PLC, officials and bankers said Monday.

The decision on merger comes after a meeting between the high-ups of the privately operated City Bank and the governor of Bangladesh Bank (BB) at the central bank's headquarters on the day.

And this happens to be the fourth merger event the banking industry is to witness after the central bank, as part of the government's financial-sector reform recipe initiat...