Mahalaxmi Finance SGM conducted; merger with Siddhartha Finance and Malika Dev Bank

Mahalaxmi Finance Limited has successfully conducted its Special general Meeting yesterday(Jestha 32, 2073). Issuing a press statement it stated that Mahalaxmi Finance Limited, Siddhartha Finance Limited and Malika Bikas Bank will merge to be a national level development bank named ‘Mahalaxmi Bikas Bank’. After the merger of trio financial institutions, the newly formed development bank will have 40 branches. The merged entity will have paid up capital of Rs 1.15 arba .Also merged entity has deposit mobilization of Rs 10.71 arba and loan disbursement of Rs 8.67 arba. The finance company aims to begin joint operation with the accomplishment of merger process in Ashad, 2073.