Nepal Rastra Bank (NRB) and Company Registrar Office gave final approval to the banks for the acquisition on June 24 and June 28 respectively.
Mega Bank and Gandaki Bikas Bank endorsed the acquisition proposal through their respective SGMs on June 3.
Mega Bank acquires Gandaki Bikas Bank at a swap ratio of 1:1. The joint entity will continue its business with the name of Mega Bank.
For the data migration purpose to start the joint transaction purpose, all banking activities of the banks will be closed on July 3 and 4.
