Merger process of MEGA and PDBL to be sorted out within 2 weeks

Mega Bank Limited (MEGA) one of the growing commercial banks had signed a memorandum of understanding with Paschimanchal Bikas Bank Limited (PDBL) for merger on 28 Januray,2015. Chairman of Mega Bank Limited – Prof. Dr Madan Kumar Dahal and Chairman of Paschimanchal Bikas Bank Limited (PDBL) – Mr. Durga Prasad Pandey had signed an agreement. There was rumor that the merger talk between MEGA and PDBL was off the table, but apparently that’s not the case. Sharesansar team met with Anil Shah, CEO of Mega Bank, to clarify the merger  issue. He told us that the merger talk with PDBL is still on. The decision regarding the merger process  will be done within 2 weeks of time, Mr. Shah added. Its nearly been 8 months, since  the merger process had begun. Mega Bank last traded price stood Rs 395 and Paschimanchal Bikas Bank last traded price was Rs 283 as on 28th  January, 2015 in NEPSE .