Investors may have to wait some more for trading of NMB Bank and Global IME Bank to resume; what have the banks planned?

Trading in stock of three commercial banks have been halted for a long time due their ongoing mergers. These banks are NMB Bank Limited (NMB), Janata Bank Limited (JBNL) and Global IME Bank Limited (GBIME).

NMB Bank and Om Development Bank had agreed to merge their operations due to which the trading of NMB stocks has been halted since Jestha 3, 2076. After the finalization of merger, the joint operation had started from Ashwin 11, 2076. However, still the trading in the security of NMB has not resumed.

On inquiring with the company secretary of NMB, he mentioned that approval from SEBON has been received while the bank has sent necessary document to CDS for approval. After receiving the approval, it will finally be sent to NEPSE after which trading in the security will resume. The process might take a week’s time and trading is expected to resume by next Friday i.e. Kartik 8, 2076.

Similarly, Global IME Bank and Janata Bank Nepal had opted for merger to increase the scale and reach of their operations. The merger decision between the two banks was authenticated on Asadh 20, 2076 and trading in security was halted on Asadh 22, 2076.

The company secretary of GBIME mentioned that bank’s AGM is expected to be held during the first week of Mangsir which will endorse the merger decision. After that, the integrated transaction of the merged entity will begin from Mangsir end. Tentatively, by the first week of Poush, the trading in security of the bank will resume.