Fewa Bikas & Business Universal Bank calls off the merger process

The merge process between Business Universal Development Bank Limited (BUDBL) and Fewa Bikas Bank Limited (FBBL) has been called off. As per an official source, “ The merger process between these two banks have been cancelled due to the internal problem in Fewa Bikas Bank, some BoD members of Fewa Bikas Bank were in favor of merger and some were against it and as a result the merger was called off.” The trading of BUDBL has started in Nepal Stock Exchange Limited (Nepse) from today. From November 18, 2015, the trading of both banks have been halted due to the the merger process.