Long-touted merger between Mega and Tourism gains final momentum; merger approved by Mega's SGM
Wed, Dec 20, 2017 7:46 AM on Latest, Featured, AGM/Special AGM,
The Special General Meeting of Mega Bank Nepal Limited (MEGA) held yesterday has approved the proposal to merge with Tourism Development Bank Limited (TDBL).
Issuing a statement, the commercial bank said that the board also approved the earlier proposed share swap ratio of 100;95 for the merger. Shareholders of Tourism Development Bank will now get 0.95 unit share of the merged entity for their each share.
At present, Mega Bank has paid-up capital of Rs 7.56 arba, while the paid-up capital of Tourism Development Bank is Rs 2.1 arba. The merged entity will have paid-up capital of Rs 9.47 arba, while its total deposit base and loan disbursement will be Rs 49.5 arba and Rs 45.59 arba respectively.
Likewise, the newly form entity will have presence in 48 districts with a network of 112 branch offices and 11 extension counters.
At present, Mega Bank has paid-up capital of Rs 7.56 arba, while the paid-up capital of Tourism Development Bank is Rs 2.1 arba. The merged entity will have paid-up capital of Rs 9.47 arba, while its total deposit base and loan disbursement will be Rs 49.5 arba and Rs 45.59 arba respectively.
Likewise, the newly form entity will have presence in 48 districts with a network of 112 branch offices and 11 extension counters.
