NRB provides LOI to Deva Bikas Bank for acquiring Sajha Bikas Bank; other 9 BFIs given final approval for merger/acquisition

Nepal Rastra Bank has provided Letter of Intent (LOI) to Deva Bikas Bank Limited for the acquisition of Sajha Bikas Bank Limited. This approval has opened the way for both the banks to take their acquisition-related agendas to be endorsed through their SGMs. Likewise, NRB has also provided final approval to 9 other Banks and Financial Institutions (BFIs) for their mergers and acquisitions. Nepal Investment Bank has received approval for acquiring Ace Development Bank and Civil Bank has received approval for acquiring Unique Finance and Hama Merchant Finance. Similarly, Yeti Development Bank has received final approval for merger with Mahalaxmi Bikas Bank while Vibor Society Development Bank has received approval to merge with Lumbini Finance and Leasing Company. The BFIs have planned to start joint operation within the end of Ashad 2074.