Shangri-la Dev Bank acquiring Nepal Community Dev Bank; Trading of Nepal Community Dev Bank trading suspended in NEPSE

Trading of Nepal Community Development Bank Limited (NCDB) has been suspended today in Nepal Stock Exchange Limited (NEPSE) today (Poush 21, 2073). The trading has been suspended for acquisition process with Shangri-la Development Bank Limited. Nepal Community Development Bank paid up capital remains at Rs 20.95 crore. It has earned net profit of Rs 84.19 lakh in Q1 of the FY 2073/74. Shangri-la Development Bank has paid up capital of Rs 1.07 arba. It has earned net profit of Rs 4.43 crore in the first quarter of the current fiscal year 2073/74.  The development bank is in the process of acquiring Cosmos Development Bank Limited.