Siddhartha Bank & Bussiness Universal joint transaction to start from Ashad 7 as Siddhartha Bank

Nepal Rastra Bank has given the final approval for the merger of Siddhartha Bank Limited and Business Universal Development Bank Limited on Jestha 23, 2073. The joint transaction of both the banks starts from Ashad 7, 2073. The merged entity is named as Siddhartha 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. After the merger, the registrar office of the bank will be in Kathmandu District, Hattisar-1. The paid up capital of Siddhartha bank stands at Rs 2.43 arba. It had earned net profit of Rs 79.38 crore in the third quarter of the fiscal year 2072/73. The paid up capital of Business Universal Development Bank stands at Rs 1.05 arba. The bank had earned net profit of Rs 13.19 crore in the third quarter of the fiscal year 2072/73.