Jyoti & Raptibheri Bikas Bank sign MOU for acquisition; Raptibheri trading suspended in NEPSE

Jyoti Bikas Bank and Raptibheri Bikas Bank have entered an acquisition deal. Both the bank has signed a memorandum of understanding (MOU) for the acquisition process. Trading of Raptibheri Bikas Bank Limited (RBBBL) has been suspended from today in Nepal Stock Exchange Limited (NEPSE) for the acquisition process by Jyoti Bikas Bank Limited (JBBL). Chairman of Jyoti Bikas Bank, Mr.  Hari Chandra Khadka and Chairman of Raptibheri Bikas Bank, Mr. Prem Bahadur Bhandari signed the agreement yesterday. At present, Jyoti BIkas Bank has a paid up capital of Rs 1.10 arba. The bank earned net profit of Rs 13.54 crore in the second quarter of the fiscal year 2073/74. Likewise, Raptibheri Bikas Bank has paid up capital of Rs 24.37 crore. The bank has earned net profit of Rs 1.15 crore in second quarter of the ongoing fiscal year 73/74.