Bhoj Bahadur Shah, Chairman of Mega Bank and Sushil Gauchan, Chairman of Gandaki Bikas Bank signed the agreement in the presence of BOD and CEOs of both banks.
As per the agreement, the swap ratio for the acquisition will be decided on the basis of DDA report. As per the fourth quarter report of the last FY, the joint entity will have deposits of Rs 112 billion and loan extensions of Rs 98 billion.
