Sahayogi Bikas Bank & Sahara Bikas Bank enter into merger process

Sahayogi vikas Bank Limited  (SBBLJ)  and Sahara Bikas Bank Limited  (SHBL) have  signed a Memorandum of Understanding to enter into the merger process. The trading of both the development banks has been halted in Nepse from today. Capital plan of Sahayogi vikas Bank mentioned it will be acquiring Janaki Finance. Rajnish Kumar Singh, CEO of Sahayogi vikas Bank said, “we were holding merger talk with Janaki Finance then, but we did not reach any conclusion.” Sahayogi vikas Bank has a paid up capital of 25.78 crore whereas Sahara Bikas Bank has a paid up capital Rs 20 crore.