Global IME Bank acquires Pacific Dev Bank; trading of Pacific Dev suspended from today

Trading of Pacific Development Bank Limited (PADBL) has been suspended from today (Ashad 1, 2073) in Nepal stock exchange following the acquisition process. Pacific Development Bank and Global IME had signed an agreement for the acquisition process. At present, PADBL has paid up capital of Rs 10.89 crore. The bank has earned net profit of Rs 1.99 crore in third quarter of 72/73 FY. Likewise, Global IME has a paid up capital of Rs 6.16 arba. The bank earned net profit of Rs 1.03 arba in third quarter of the fiscal year 2072/73.