NMB Bank to start joint operation from Kartik 1; trading to resume from mid Kartik

NMB Bank Limited (NMB), Pathibhara Bikash Bank Limited, Bhrikuti Development Bank Limited, Prudential Finance Company Limited and Clean Energy Development Bank Limited had entered into a merger process a year ago and finally the merger process is completed. The BOD meeting of  Nepal Rastra Bank (NRB) held on wednesday has provided final approval to the merger of NMB and other five institution. The name of the merged entity will be NMB Bank Limited. Now NMB bank will also have a presence in eastern and western development regions. Pramod Dahal, Head Compliance and Operational Risk & Company Secretary of NMB Bank said, “ we will start the joint operation form Kartik 1, 2072 and then we will start fulfilling the formalities to resume trading.” Most probably the trading will resume from the mid of Karkit, he added. The last trading price of NMB Bank stands at Rs 507 as on September 29, 2014.