The Bangladesh Bank (BB) on Monday cut the name of First Security Bank from the list of problem banks as the third generation bank has improved its capital and provision shortfall and management system, said a BB statement yesterday.

Earlier in 2004, the central bank put the bank in such a list for its poor management and weak financial conditions.

Sources said the First Security Bank improved after its new management injected fresh funds. S Alam Group took over the bank earlier.

The private commercial bank will now be placed in the BB 'early warning system' (EWS) list, leaving three banks -- Oriental Bank Ltd, Social Investment Bank Ltd and Bangladesh Commerce Bank Ltd in the problem bank category.