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.
Nabil Bank acquired Nepal Bangladesh Bank with a swap ratio of 100:43, following which, the two banks started their joint transaction.
The joint entity is being headed by Gyanendra Dhungana as CEO and has paid-up capital of Rs 22.83 billion.
