People’s Finance to actively seek merger, acquisition; special general meeting today

ShareSansar, June 22:

People’s Finance Limited is holding its special general meeting to endorse a proposal to actively seek merger and/ or acquisition with other banking and financial institutions.

The special general meeting of the finance company based in Kathmandu being held at the Pawan Hall of United World Trade Center, Tripureshwor, Kathmandu will give all-out authority to its Board of Directors to this effect.

It may be noted that many of the listed BFI, especially the development banks and finance companies have been opting for merger or acquisition in the face of growing competition among themselves.

The central bank is also strongly advising them to do so.