Shine Resunga to acquire Purnima Bikas Bank

Mar 11, 2019 Merolagani

Shine Resunga Development Bank (SHINE) is set to acquire Purnima Bikas Bank (PURBL). The development banks signed an acquisition agreement amid a program on March 10.

Rajendra Prasad Shrestha, Chairman of Shine Resunga Development Bank and Suraj Upreti, Chairman of Purnima Bikas Bank signed the agreement on behalf of their respective institution.

The merged entity will be named Shine Resunga Development bank and its head office will remain at Butwal.

Shine Resunga Development Bank has a paid-up capital of Rs 1.62 billion. It has deposit collection of Rs 16.10 billion and loan extension of Rs 14.52 billion. Similarly, Purnima BIkas Bank has a paid-up capital of Rs 551.2 million. It has deposit collection of Rs 3.35 billion and loan extension of Rs 3.04 billion.  


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