Nepal Stock Exchange Limited (NEPSE) has published a circular regarding the listing of shares of Hamro Bikas Bank Limited (HAMRO) as Jyoti Bikas Bank Limited (JBBL).
A total of 5,040,534 units of shares of Hamro Bikas Bank has been listed under the name of Jyoti Bikas Bank at face value of Rs.100 per share. These shares will now be traded under the stock code JBBL. This comes as the finalization of merger procedure between the two development banks at swap ratio 1:1.
After the joint operation, Jyoti Bikas Bank now provides its services to more than 2.40 Lakh customers through 95 branches, 23 ATM terminals and 2 extension counters all over the nation. The bank now has a paid up capital of Rs.3.10 Arba making the bank the largest one among the national level development bank in terms of paid up capital.