The banks have agreed on a swap ratio of 1:1. As per the initial agreement, the joint entity will have Ashok Sherchan as CEO and the board committee will has four directors from Prabhu Bank and three from Century Bank.
The central bank, Nepal Rastra Bank, is set to incentivize the banks those start joint transaction within the month of Poush of the current FY. Accordingly, the banks are preparing to start the joint transaction before the given time.
