NMB Bank and Clean Energy join hands for merger; trading to be halt from today

ShareSansar, December 2:

NMB Bank Limited (NMB) and Clean Energy Development Bank Limited (CEDBL) signed a Memorandum of Understanding (MoU) for merger. With the MoU signing between the NMB Bank Ltd. and Clean Energy Development for the merger, the trading of these scrips likely to be halt at the secondary market from today.

NMB Bank Company Secretary Madhav Pradhan told ShareSansar-- Yes the signing of MoU is true but still for the confirmation he needs some time; Since the signing formality was done by the member of the merger committee of the bank.

Earlier, NMB, a finance company-turned-commercial bank, and two regional-level development banks— Pathibhara Bikas Bank Limited (PBSL) and Bhrikutee Bikas Bank Limited (BBBL)—have signed the MoU for the merger.

“International banks are likely to enter into the Nepali market. Thus we should be prepared to compete with them. The merger will consolidate our capital and other strengths” NMB Bank CEO Upendra Poudyal said.