Laxmi Bank & Professional Diyalo Bikas Bank joint operation starting from Magh 2 as Laxmi Bank Limited

Nepal Rastra Bank had given the final approval for the acquisition of Professional Diyalo Bikas Bank Limited by Laxmi Bank Limited on Poush 11, 2073. The joint operation of both companies will start from Magh 2, 2073. The new entity will be named as Laxmi Bank Limited, and will start the integrated business as a class "A" commercial bank. After the acquisition, the head office of the commercial bank will be in Hattisar, Kathmandu. The swap ratio of Laxmi Bank and Professional Diyalo Bikas Bank was fixed at 100: 50. The paid up capital of Laxmi Bank stands at Rs 3.03 arba. The commercial bank had earned net profit of Rs.15.68 crore in the first quarter of the current fiscal year. Similarly, the paid up capital of Professional Diyalo Bikas Limited stands at Rs 24.03 crore. It earned net profit of Rs 27.34 lakh in the Q1 of the fiscal year 2073/74