NMB Bank to commence joint operation from Bhadra 7 after acquisition of Kanchan Dev. Bank

Fri, Aug 14, 2020 12:56 PM on Latest, Corporate,

After a successful acquisition of Kanchan Development Bank, NMB Bank is going to commence the joint operation in the name of NMB Bank Limited from 7th Bhadra, 2077.

A meeting of the Board of Directors of NRB on August 6 had decided to give final approval to the acquisition in a swap ratio of 100:85.

After the acquisition of Kanchan Development Bank which has made a strong presence in the far western region, the paid-up capital of NMB Bank has reached Rs. 14.45 Arba and the size of its reserve fund has reached Rs. 7.5 Arba.

Since a new core banking software has to be installed in order to incorporate both the banks' data, digital transactions might be affected on Friday, Bhadra 5, and Saturday, Bhadra 6.