Nabil Bank finally seals acquisition deal with Nepal Bangladesh Bank; shareholders of NBB to get 43 shares of NABIL for NBB's 100 shares after Acquisition

Fri, Jan 14, 2022 4:38 AM on Corporate, Stock Market, Latest,

Nabil Bank Limited (NABIL) and Nepal Bangladesh Bank Limited (NBB) have inked a preliminary agreement for the acquisition of NBB by Nabil Bank in a share swap ratio of 100:43.

The agreement of acquisition by Nabil Bank was endorsed by boards of both banks on Poush 29, 2078. The MoU of the acquisition was signed by a director of Nabil Bank Mr. Udaya Krishna Upadhya and director of Nepal Bangladesh Bank Mr. Indra Bahadur Thapa amid a program.

The new entity is expected to begin the joint transaction within five months after completing all the legal and regulatory formalities where the revamped institution will have core capital of Rs 43 Arba, paid-up value of Rs 22.5 Arba, loans of Rs 300 Arba, deposits of Rs 314 Arba, 235 branches, 16 lakh plus customers, making it one of the leading banks in the nation, as per the media statement.