Prabal Jung Pandey, conveyor of merger committee of Citizen Bank and Rajendra Prasad Ojha, conveyor of merger committee of Tinau Mission signed the agreement on behalf of their respective banks.
As per the agreement, Citizens Bank is acquiring Tinau Mission with a swap ratio of 96:100. Currently, Citizens Bank has a paid-up capital of Rs 9.81 billion that will reach Rs 11.66 billion after the acquisition.
Both banks will approve the acquisition from their special general meeting and NRB after which their joint transaction will started.
