Nabil and NB Bank to conduct integrated business from July 11

KATHMANDU: Nabil Bank and Nepal Bangladesh (NB) Bank plan to launch an integrated business on July 11. After acquiring NB Bank, Nabil Bank will launch an integrated business.

A special general meeting of both banks held on May 21 approved the acquisition of NB Bank by Nabil Bank. On June 29 and July 1, the Nepal Rastra Bank and the Registrar of Companies received final approval to move the acquisition forward.

Nabil Bank’s share price of NB Bank has not remained constant, and the per-share price of NB Bank has remained at 43. Nabil is on the verge of acquiring NB Bank.

Gyanendra Dhungana will be the CEO of the bank formed as a result of Nabil’s acquisition. The combined working capital of these banks will be Rs. 22.83 billion.