Prabhu & Century Bank signs merger agreement

KATHMANDU: Prabhu Bank and Century Bank have reached an agreement to merge. On Sunday evening, the two banks reached an agreement to merge in a 1:1 ratio.

According to the agreement, the entity formed as a result of the merger will be known as Prabhu Bank. The Board of Directors will be chaired by Rajesh Shrestha, Chairperson of Century Bank.

Similarly, it has been reported that Chief Executive Officer (CEO) Prabhu Bank Ashok Sherchan and Century Bank CEO Manoj Neupane have agreed to become deputy CEOs.