Rastra Bank provides Letter of Intent to acquisition of Om Development Bank by Prime commercial Bank
Sun, Nov 11, 2018 2:08 PM on Latest, Stock Market,
Prime Commercial Bank (PCBL) and Om Development Bank (ODBL) had signed a Memorandum of Understanting (MoU) on Bhadra 3, 2075 for the acquisition of ODBL by PCBL. Based on the application presented by the concerned banks, the Nepal Rastra Bank (NRB) has granted the Letter of Intent (LOI) for the acquisition.
Post acquisition, the joint operation will begin in the name of Prime Commercial Bank and will be an "A" class bank of Nepal.
