Shine Resunga & Gaumukhee Bikas Bank joint operation to start from Jestha 29 as Shine Resunga Dev. Bank; Share Swap Ratio fixed at 1:0.9

Nepal Rastra Bank had given the final approval for the merger of  Shine Resunga Development Bank and Gaumukhee Bikash Bank Limited on Jestha 4  2073. The joint operation of both  banks  will start from Jestha 29, 2073. The merger entity is named as Shine Resunga Development Bank Limited, and will start the integrated business. The merged entity will be publishing combined quarterly report in the upcoming quarter after their joint operation starts. The share swap ratio of Shine Resunga: Gaumukee for the merger has been fixed at 1:0.9. After the merger, the registrar office of the bank will be shifted to Rupandehi District, Butwal-8. The paid up capital of Shine Resunga stands at Rs 63.33 crore. From the net profit of the fiscal year 2071/72, the development bank has announced 27% bonus share and 1.42% cash dividend for the tax purpose. After the issuance of bonus share, its paid up capital will reach to Rs 80.43 crore. The paid up capital of Gaumukhee Development Bank stands at Rs 4.68 crore. The bank is in the process to issue right shares worth Rs 1. 68 crore.  At the time of merger, its paid up capital will stand at Rs 6.17 crore. The bank will have 21 branch offices and 2 extension counters, after the merger.