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.


comments powered by Disqus

World's richest 2,000 people hold more than poorest 4.6 billion combined

Jan 20, 2020 03:49 PM

The world’s richest 2,153 people controlled more money than the poorest 4.6 billion combined in 2019, while unpaid or underpaid work by women and girls adds three times more to the global economy each year than the technology industry, Oxfam said on Monday.