NCC Bank mulling over to get merged with Nepal Bangladesh Bank

ShareSansar, July 29:

There is a high possibility NCC Bank Limited (NCCB) will merge with another commercial bank Nepal Bangladesh Bank Limited (NBB) in near future. Both the commercial Banks are “A” category licensed Commercial Banks.

Mr. Amrit Charan Shrestha , CEO of NCC Bank said, “a joint merger committee has already been formed.”

NRB took over the NCC management suspending its board on Magh 21 2070, the NRB had already extended the term’s stay thrice. NCC will be under the control of NRB for some more months until the merger issue get pace as per the officials of the bank.

“The joint merger committee has been formed that consists of BoD of NCC bank and representatives of Nepal Bangladesh Bank”, added Shrestha.

NCC Bank had recently endorsed 38 percent bonus share through its AGM held on July 15, 2015.

After the issuance of bonus share, NCC Bank now has a paid up capital of Rs 2.02 arba.

Nepal Bangladesh Bank has a paid up capital of Rs 2.43 arab as of third quarter of last fiscal year.

Nepal Bangladesh Bank’s last traded price stood at Rs 557 and NCC Bank’s last traded price stood at Rs 475 as on July 28 trading in NEPSE.