NIDC Development Bank announces 50th AGM on Falgun 13; to merge with RBB in 1:1 ratio

NIDC Development Bank Limited is convening its 50^th AGM at its central office in Durbarmarg, Kathmandu on Falgun 13, 2074. 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 second quarter of the 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