Nepal Investment Bank to acquire City Express Finance; Swap ratio fixed at 100:30

Nepal Investment Bank Limited is acquiring City Express Finance Limited.

The meeting of the board of directors of Nepal Investment Bank Limited held yesterday decided on the matter.

City Express Finance will be acquired in the swap ratio of 100:30. This means that investors owning 100 shares of City Express Finance Limited will be entitled to 30 shares of NIB after the acquisition.

While City Express Finance has posted a net profit of Rs. 4.08 million in Q4 FY 2076/77, Nepal Investment Bank Limited has posted a net profit of Rs. 2.57 billion in the same quarter.