Nepal Bangladesh Bank likely to enter into a merger process with Reliable Dev, Sindhu Bikas & Bagmati Dev Bank

As per sources privy with the matter, Nepal Bangladesh Bank is likely enter into a merger process with 3 developments banks at a time. As per our sources Nepal Bangladesh Bank Limited (NBB) is going into a merger process with, Reliable Development Bank Limited (REDBL) which is a National Level Development Bank, Shindhu Bikas Bank Limited (SINDU) which is a 3 District Level Development Bank and Bagmati Development Bank Limited (BGDBL) which is a 1 districts level Development Bank. The Memorandum of Understanding (MoU) will be signed by, chairman of Nepal Bangladesh Bank, chairman of Reliable Development Bank, chairman of Sindhu Bikas Bank and Chairman of Bagmati Development Bank. The tentative swap ratio of NBB: REDBL: SINDU: BGDBL stands at 100:70:65:50. The paid up capital of NBB stands at Rs 2.43 arba, whereas the paid up capital of REDBL stands at Rs 71.69 crore , paid up capital of SINDU stands at Rs 10.75 crore and of BGDBL stands at Rs 5 crore.