Jyoti Bikas and Hamro Bikas signed the agreement of acquisition on July 15. Both institutions have agreed to set a swap ratio as per due diligence audit (DDA) report.
Hamro Bikas Bank has a paid-up capital of Rs 492.2 million. Jyoti Bikas Bank has already met the minimum paid-up capital required by NRB. The bank has a paid-up capital of Rs 2.59 billion.
After the acquisition, Jyoti Bikas Bank will raise the capital to Rs 3 billion.