After a prolonged discussion, both banks signed the merger agreement.
As per an initial agreement, the swap ratio has been decided at 1:1 for merger however, the swap ratio may differ after DDA report, says Ramesh Raj Aryal, CEO of NCC Bank.
The merger agreement was signed by Chandra Bastola on behalf of NCC Bank and Krishna Prasad Gyawali on behalf of Kumari Bank.
Currently, Kumari Bank has a paid-up capital of Rs 14.71 billion while NCC Bank has a paid-up capital of Rs 11.13 billion. The joint entity of the banks will have paid-up capital of Rs 25.85 billion.
