Kumari Bank convenes its SGM; endorses merger with NCC Bank taking the paid up size to Rs 26 kharba

Kumari Bank convened its SGM under the leadership of its chairman Mr. Amir Pratap J.B. Rana on Mangsir 25, 2079.

The SGM has endorsed the board’s proposal to finalize the merger with NCC Bank in the share swap ratio of 1;1, endorsed all the audit reports including that of liabilities and assets of the merger partner, to amend the memorandum so as to accommodate the increased paid up capital following the merger and to increase the size of the board to seven members, as per the media statement.

Following the merger between these banks, the revamped bank will have Rs 26 Arba in paid-up capital, 355 branches, 244 ATM outlets, 51 extension counters, Rs 3.01 kharba worth of deposits, Rs 2.78 kharba in credit portfolio, as per the media statement.