Janata Bank & Triveni Bikas Bank trading suspended in NEPSE from today for merger process

Trading of Janata Bank Nepal Limited (JBNL) and Triveni Bikas Bank Limited (TBBL) has been suspended from today in Nepal Stock Exchange Limited (NEPSE) for the merger process. Janata Bank’s and Triveni Bikas Bank Limited have signed an agreement following the merger process. The commercial bank will be issuing a total of 10,300,000 unit right shares from Mangsir 2, 2073. It’s paid up capital remains at Rs 2.06 arba. After the adjustment of 50 percent right share, its paid up capital will reach to Rs 3.09 arba from current Rs 2.06 arba. JBNL has earned net profit of Rs 32.53 crore in the fourth quarter of the fiscal year 2072/73. Likewise, Triveni Bikas Bank will also be issuing 50% (41, 00,076.42 unit) right shares to its existing shareholders from Kartik 23, 2073. After the adjustment of the rights shares, the development bank total paid-up capital will reach to Rs 1.23 arba from existing Rs 82 crore. The development bank has earned net profit of Rs 2.49 crore in the first quarter of the current fiscal year 2073/74.