Nepal Rastra Bank provides approval to the joint transaction for the merged entity of Best Finance and Synergy Finance; Transaction to be commenced in the name of Best Finance
Wed, Jul 18, 2018 2:29 AM on Latest, Stock Market,

Nepal Rastra Bank has given approval for the commencement of joint transaction to Best Finance Limited (BFC) and Synergy Finance Limited (SYFL).
The joint transaction will be commenced from Shrawan 17, 2075 in the name of Best Finance Limited.
The AGM of both the finance companies had approved the acquisition process at a share swap ratio of 1:1. The main office of the joint entity will be located at the then corporate office of Synergy Finance at Kamaladi, Kathmandu.
After the merger, the paid up capital of new entity is 89.05 crore thereby meeting the Rastra Bank’s instruction to hike paid up capital to Rs 80 crore for all national level finance companies.