Mega Bank trading resumes after 15 months; Successful merger with Paschimanchal Dev Bank

Mega Bank Nepal Limited (MEGA) has resumed its trading in Nepal Stock Exchange Limited (NEPSE) from today (Jestha 16, 2073). It’s been 15 months since the trading of both banks have been halted due to the merger process. The trading of Mega Bank has resumed after the successful merger with Paschimanchal Development Bank Limited.Mega bank and Paschimanchal Development Bank had commenced joint operation from 13 Baishak, 2073 Mega Bank  had signed a memorandum of understanding with Paschimanchal Bikas Bank for merger on 28 Januray, 2015 and it took more than a year to complete the merger process. Also the bank’s adjusted price remains at Rs 359 after 10% bonus share. Its average base price is Rs 292. Mega Bank 5^th AGM held on Poush 26, 2072 had approved 4: 1 (25%) right share issue to its shareholders. After the right issue the bank’s paid up capital will reach at  Rs 4.05 arba. Before the merger process, Mega Bank last traded price stood Rs 395 as on 28th January, 2015.The bank has earned net profit of Rs 32.28 crore in the third quarter of the fiscal year 2072/73. The bank has collected deposits of Rs 26.06 arba in the same quarter. The bank has 44 branches, 53 Branchless Banking outlets, 45 Mega ATM Counters, 1400 Mega Remittance Centers and one extension counter.