Nepal Rastra Bank (NRB) approves 13 organizations for merger and acquisition last week only

Tue, Jul 16, 2019 12:49 PM on Latest, Share Listed,
Nepal Rast...

Nepal Rastra Bank (NRB) has given the approval for merger and acquisition to 13 bank and financial institutions (BFIs)

NRB has given final approval for the acquisition of Western Development Bank by Deva Bikas Bank and they have already started joint operation on Asad 30, 2076.

NRB has also given in-principle agreement for the acquisition of Kankai Bikas Bank Limited (KNBL) by Prime Commercial Bank Limited (PCBL).

Saadhana Laghubitta Bittiya acquired Aarthik Samridhhi Laghubitta Sanstha Limited. These two micro finance also starting joint operation from Asad 30, 2076.

Similarly, Sarathi Laghubitta Bittiya Sanstha Limited (SARATHI) and Satyawoti Laghubitta Bittiya Sanstha Limited (SATYA) get Letter of Intent (LoI) for the merger.

Kalika Laghubitta Bittiya Sanstha Limited and Janasewi Laghubitta Bittiya Sanstha Limited have also also got Letter of Intent for merger and acquisition.

In the same process, three microfinance institutes namely Mirmire Laghubitta Bittiya Sanstha Limited (MMFDB), Nagbeli Laghubitta Bikas Bank Limited (NBBL) and Kisan Microfinance Bittiya Sanstha Limited (KMFL) have agreed to be merged with each other and got Letter of Intent.