Garima Bikas Bank trading resumes from today; trading started from Rs 363 in Nepse

Garima Bikas Bank Limited (GBBL) has resumed its trading in Nepal Stock Exchange Limited (NEPSE) from today (Kartik 29, 2073). The trading of the bank was halted due to the merger process with Subhechha Bikas Bank Limited (SUBBL). Trading of Garima Bikas Bank has resumed after the successful merger with Subhechha Bikas Bank. The development banks had commenced joint operation from Ashwin 4, 2073 as Garima Bikas Bank Limited. The trading of the scrip opened at Rs 363. The share swap ratio of Garima :Subhechha for the merger was fixed at 1:1. The paid up capital of Garima Bikas Bank stands at Rs 1.08 arba. It has earned net profit of Rs 4.68 crore in the first quarter of the fiscal year 2073/74. Before the merger process, Garima Bikas Bank’s Last Traded Price (LTP) stood at Rs 356 as on April 20, 2016.