Bank of Kathmandu & Lumbini Bank joint operation to start from today as Bank of Kathmandu Lumbini Limited; Swap ratio fixed at 1:0.8281

Nepal Rastra Bank had given the final approval for the merger of Lumbini Bank Limited and Bank of Kathamandu Limited on Ashad 24, 2073. The joint operation of both bank is starting from today (Ashad 30, 2073). The merged entity is named as Bank of Kathmandu Lumbini Limited, and will start the integrated business.The share swap ratio of  Bank of Kathmandu and Lumbini Bank  has been fixed at 1:0.8281. After the merger, the central office of the bank will be in Kamalpokhari, Ward no.1, Kathmandu Metropolitan City. The paid up capital of Bank of Kathmandu stands at Rs 2.67 arba. The bank had earned a net profit of Rs. 48.35 crore in the third quarter of the current fiscal year. The paid up capital of Lumbini Bank Limited stands at Rs 2 arba in the 3^rd quarter of the fiscal year 2072/73. The bank had earned net profit of Rs 27.79 crore in the Q3 of the fiscal year 2072/73.