Prime Bank to acquire Kankai Bikas Bank

Jun 05, 2019 Merolagani

Prime Commercial Bank (PCBL) is set to acquire Kankai Bikas Bank (KBBL). The banks are signing a memorandum of understanding regarding the acquisition today at 3:00 PM in the premises of the head office of Prime Bank.

As per a source, swap ratio of 100:71 has been decided for the acquisition. Presently, Prime Commercial has a paid-up capital of Rs 8.03 billion while Kankai Bikas has a paid-up capital of Rs 515 million.

The source informed that Prime Commercial is in various stage of discussion for acquisition with various other development banks and finance companies.

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