NIDC Development Bank 50th AGM today; to merge with Rastriya Banijya Bank in the share swap ratio of 1:1 ratio

NIDC Development Bank Limited is convening its 50^th AGM today  (Falgun 13, 2074). The AGM is being held at its central office, Durbarmarg, Kathmandu at 9:00 AM. The agenda of the meeting includes endorsement of the BOD’s annual report and the endorsement of financial highlights of fiscal year 2073/74. NIDC Development Bank Limited has earned Rs 7.78 crore till the end of second quarter of the ongoing FY 2074/75. It’s paid up capital stands at Rs 41.58 crore. It is currently in the merger process with Rastriya Banijya Bank (RBB). It had approved merger with Rastriya Banijya Bank (RBB) in its 49^th AGM last year. RBB had also endorsed merger with NIDC Development Bank by convening SGM on Magh 20, 2074. Cabinet meeting of the ministers held on Magh 14, 2073 had signed a strategic agreement to merge both the government-owned banks. Notice of AGM