The contract between the private firm and the government will be signed very soon, said sources.

By that time, Pricewaterhouse Coopers will have to submit its work plan, financial package and other plans to run the bank. The firm is expected to take over the bank from March 1.

Earlier on December 8, the cabinet purchase committee approved a three-year budget of Tk 36 crore for the firm.

This is first time a nationalised bank will be placed under a private management under the government's reform programmes.

Agrani Bank has 872 branches with over 12,000 staff with a host of problems including non-performing asset of 51 per cent (as per International Accounting Standard), militant trade unionism and top-heavy administration.

The firm will have to work for minimising the bank's operating losses, curtailing new lending excepting to good borrowers and checking corruption.