Laxmi Bank signs agreement to acquire Professional Diyalo Bikas Bank

Laxmi Bank Limited (LBL) has signed an agreement to acquire Professional Diyalo Bikas Bank Limited (PRDBL) yesterday (Ashad 16, 2073).Shambhu Prasad Acharya, Chairman of Laxmi Bank and Lok Raj Pant, Chairman of Professional Diyalo Bikas Bank signed the pact. Laxmi Bank has paid up capital of Rs 3.03 arba. The bank has declared to issue 100 percent right share. After the right issuance, its paid up capital will reach Rs 6.06 arba. Professional Diyalo Bikas Bank has paid up capital of Rs 24 crore. After acquisition, Laxmi Bank’s balance sheet, capital, customers and branches will grow. The swap ratio will be fixed on the basis of DDA report. The bank had earned a net profit of Rs 2 crore and 8 lakhs in the third quarter of on-going fiscal year. At present Laxmi bank have 50 branches, 2 extension counter and 65 ATM whereas Banepa-Kavre based Professional Diyalo Bikas Bank is currently carrying out its operation in 10 districts.