Prime Commercial Bank to acquire Kailash Bikas Bank

Jul 05, 2019 02:40 PM Merolagani

Prime Commercial Bank is in talks with Kailash Bikas Bank to acquire the latter. As per a source, the talk between the banks regarding the acquisition has reached in its final stage and may soon finalize all the terms and conditions.

The source informed that the banks may sign a memorandum of understanding within the next few days.

Prime Commercial Bank is in constant scrutiny after its merger process with Om Development Bank dissolved midway. Nepal Rastra Bank (NRB) gave three months period to Prime Commercial Bank to find a new merger/acquisition partner.

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