Nepal Rastra Bank provides LOI to Nabil Bank for acquisition of Nepal Bangladesh Bank; revamped bank to take surge in all major indicators

Nepal Rastra Bank has provided a Letter of Intent (LOI) to Nabil Bank for the acquisition of Nepal Bangladesh Bank.

Nabil Bank Limited (NABIL) and Nepal Bangladesh Bank Limited (NBB) have inked a preliminary agreement for the acquisition of NBB by Nabil Bank in a share swap ratio of 100:43. The agreement of acquisition by Nabil Bank was endorsed by boards of both banks on Poush 29, 2078.

After the acquisition, Nabil Bank will have a paid-up value of Rs 23 arba, core capital of Rs 44 arba, loan disbursement of Rs 3.01 kharba, and total deposits of Rs 3.18 kharba, 241 branches, 292 ATM terminals, and 16 lakh plus customers, making it one of the leading banks in the nation, as per the media statement.