Nabil Bank acquired Nepal Bangladesh Bank with a swap ratio of 100:43, following which, the two banks are starting their joint transaction.
The acquisition proposal was endorsed by respective SGM of both banks held on May 21. Nepal Rastra Bank (NRB) gave final approval for the acquisition on June 29 and Company Registrar gave final approval for the acquisition on July 1.
The joint entity will be headed by Gyanendra Dhungana and will have a paid-up capital of Rs 22.83 billion.
