Mercantile Bank Limited controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2021
Director removed over alleged irregular loans
Bangladesh Bank removed AKM Shaheed Reza after investigations reportedly linked him to irregular lending involving PK Halder.
2020
Director removed over alleged money laundering
Bangladesh Bank removed Md Shahidul Ahsan from the board amid allegations of money laundering.
2018
Export cash-incentive rule violations
A Bangladesh Bank investigation reported that Mercantile Bank had violated rules concerning cash incentives for exports.
2018
Anti-Corruption Commission loan case
The Anti-Corruption Commission sued four directors over allegations that they helped borrowers obtain a loan by mortgaging government property.
2013
Reported illegal transaction involving a director
Bangladesh Bank reported that director Md Shahabuddin Alam was involved in an illegal transaction connected with subsidiaries of SA Group of Industries.