Namaste Bittiya Sanstha & Western Dev. Bank trading suspended in NEPSE following merger process

Namaste Bittiya Sanstha and Western Development Bank have signed an agreement for merger. Trading of Namaste Bittiya Sanstha Limited (NBSL) and Western Development Bank Limited (WDBL) has been suspended from today in Nepal Stock Exchange Limited (NEPSE) following their merger. At present, NBSL has earned net profit of Rs 73.31 lakh in second quarter of current fiscal year 2073/74. It has paid up capital of Rs 4.65 crore after the adjustment of 24% bonus share of FY 2072/73. After capitalization of 100 percent right share, the paid up capital will reach Rs 8.40 crore. Likewise, Western Development Bank has earned net profit of Rs. 2.64 crore in the second quarter of the current fiscal year 2073/74. Its paid up capital stands at Rs 31.38 crore after issuance of 100% right shares and issuance of the auctioned shares. It has proposed 10% bonus shares for the FY 2072/73. After issuance of 10% bonus shares, its paid up capital will reach Rs 34.51 crore.