First Business News Portal in English from Nepal
KATHMANDU: Following the completion of all merger processes, Nabil Bank and Nepal Bangladesh Bank will start integrated transactions from today.
From today, existing branches of Nepal Bangladesh Bank will also begin operation as Nabil Bank, meaning that Nabil Bank has completed the Nepal Bangladesh Bank acquisition process.
The meeting of Nepal Rastra Bank’s Bank and Financial Institutions Regulation Department, on June 29, had approved the acquisition of Nepal Bangladesh Bank by Nabil Bank.
The two banks had signed the acquisition deal in January this year. The two banks have agreed to become one at the swap ratio of 110:42, meaning 100 units of the Nepal Bangladesh Bank shares are equal to 42 units of the shares of the other bank.
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