Century Commercial Bank to acquire Seti Finance; trading of SETI suspended in NEPSE

Century Commercial Bank Limited (CCBL) has signed an agreement to acquire Seti Finance Limited (SETI). Following the acquisition process, trading of SETI has been suspended in NEPSE from today. With this, Century Commercial Bank is now acquiring a total of 5 companies: Araniko Development Bank, Innovative Development Bank, Sagarmatha Finance, Alpine Development Bank and Seti Finance. Century Commercial Bank has earned net profit of Rs 31.09 crore till the end of third quarter of the FY 2073/74. It has endorsed 40% right share issuance after acquisition of Araniko and Innovative Development Bank Limited.