Grand Bank’s Special AGM today; acquisition by Prabhu Bank major agenda

ShareSansar, February 26:

Grand Bank Nepal Limited (GRAND) will be holding its Special General Meeting today, 14th Falgun, 2071 at Nepal Staff College, Jawalakhel, Lalitpur.

The major agendas at the special general meeting will be possible future merger and acquisitions, entering into joint ventures, and endorsing the acquisition agreement Grand has reached with Prabhu Bank Limited (PRVU). The acquisition deal between the two companies was reached last month with Prabhu offering to pay approx Rs 67 per share to Grand's shareholders.

Grand Bank Nepal Limited had reported a net loss of Rs 13.83 crore for the second quarter of the current fiscal year 2071/72.