Two pioneer commercial banks of Nepal, Nepal Credit and Commerce Bank Limited (NCCB) and Kumari Bank Limited (KBL) recently signed a Memorandum of Understanding (MoU) for the merger.
Nepal Stock Exchange has hereby notified that pursuant to the Merger and Acquisition of Banks and Financial Institutions (Regulation 61 of 2073), the shares of Kumari Bank Limited and Nepal Credit and Commerce Bank Limited have been halted from today, Ashwin 11.
Following the integrated transaction, Kumari Bank Limited's total paid-up capital will be Rs 25.84 Arba. The current paid-up capital of KBL is Rs 14.71 Arba, while NCCB's paid-up capital is currently Rs 11.13 Arba.
As of September 25, 2022, NCCB and KBL's last trading prices were Rs. 184 and Rs. 186, respectively.