Nepal Investment Bank to acquire Jebils Finance; Swap ratio at 100:33

Nepal Investment Bank (NIB) held a Special General Meeting (SGM) today i.e Ashad 06, 2076 to assess the proposal for acquiring Jebils Finance (JEFL). The SGM has approved the acquisition.

Currently, the paid-up capital of NIB stands at Rs 12.59 arba and of JEFL stands at Rs 0.84 arba. Thus, the for each Rs 100 share of JEFL, Rs 33 will be provided. After the acquisition, the paid-up capital of NIB will reach Rs 12.89 arba.

Similarly, the total deposits after the acquisition will reach Rs 147 arba and the total loans and advances will reach Rs 132 arba. The promoter public ratio post acquisition will be maintained at 69:31, with 69% ownership of promoters and 31% ownership of general public.

The Board of Director and CEO will be the current BOD and CEO of NIB after the acquisition.

NIB is currently operating via 23 branches inside the valley and 57 branches outside the valley along with 112 ATMs, 14 extension counters, 10 government revenue collection centers and 49 branchless banking units.

NIB be has been awarded as the Bank of the Year for five times. Similarly, an international newspaper named Euromoney has awarded NIB by Euromoney award for excellence "Best Bank 2018" last year. In addition, ICRA Nepal has rated NIB as A+.