CZBIL and TMDBL to Commence Joint Operation from Chaitra 14

Tue, Mar 23, 2021 10:30 AM on Latest, Merger/Acquistion,

After a successful acquisition of Tinau Mission Development Bank (TMDBL), Citizens Bank International Limited (CZBIL) will commence its joint operation in the name of Citizens Bank International Limited from 14th Chaitra, 2077.

The swap ratio of merger is 100 : 96 i.e. every 100 units of TMDBL will get 96 units of CZBIL. 

NRB gave the final nod on Chaitra 09. CZBIL then organized its 358th board meeting on the same day to decide on the commencement date of the joint transaction.

Both the companies will halt operation from Chaitra 13th, 3 pm till the next day for Data Migration purposes. As of writing, CZBIL has an LTP of Rs. 300.