Civil Bank, Unique Finance & Hama Merchant joint transaction to start from Ashad 18 as Civil Bank

Nepal Rastra Bank has provided final approval for the acquisition of Unique Finance Limited and Hama Merchant & Finance company Limited by Civil Bank Limited (CBL) on Ashad 4, 2074. The joint transaction of trio companies will start from Ashad 18, 2074. The new entity will be named as “Civil Bank Limited” and will start the integrated business as an “A” class commercial bank. Civil Bank has acquired Unique Finance and Hama Merchant in a share swap ratio of 100:90:89 respectively, as endorsed from its AGM held on Jestha 4, 2074. The banking transactions of Unique and Hama Merchant will remain closed on Ashad 16, 2074 for the process of system integration and data migration to start joint operation.  Also, Civil bank will close its evening counter service on Ashad 16, 2074. Civil Bank had earned net profit of Rs.15.44 crore in the third quarter of the current fiscal year 2073/74. Its paid up capital currently stands at Rs 4.58 arba. After acquisition of Unique Finance Ltd. and Hama Merchant and Finance Ltd, Civil Bank will be issuing 40% right share to its shareholders.