Deva Bikas Bank to acquire Sahara Bikas Bank

Deva Bikas Bank Limited (DBBL) has signed an agreement to acquire Sarlahi-based Sahara Bikas Bank Limited (SHBL). With this acquisition, Deva Bikas Bank is now acquiring a total of 3 BFIs. Sahara’s merger process with Sahayogi Vikas Bank was abruptly cancelled in Poush, as a result of which it was increasingly difficult for the bank to increase its paid up capital as per NRB's directive. With only one month to go, it has decided to go under acquisition by Deva Bikas Bank. As a 1-district level development bank, it should have increased its paid up capital to Rs 50 crore by the end of FY 2073/74. Its paid up capital currently stands at Rs 6.72 crore only with net worth per share of Rs 169.20. Deva Bikas Bank is also under process for acquiring Union Finance and Sajha Bikas Bank. After acquiring Union and Sajha, its paid up capital will reach around Rs 1.72 arba. Deva Bikas Bank, as a national-level development bank, should increase its paid up capital to Rs 2.50 arba by the end of FY 2073/74. DBBL has said that it was open to further mergers and acquisitions.