Siddhartha Dev. Bank, Ekata Bikash Bank & Nepal Aawas Finance joint operation to start from Jestha 28 as Siddhartha Dev. Bank

Nepal Rastra Bank has given the final approval for the merger of Siddhartha Development Bank Limited (SDBL), Ekata Bikash Bank Limited (EKBL) and Nepal Awas Finance Limited (NABB) on Jestha 13, 2073. The joint operation of the banks starts from Jestha 28, 2073. The merger entity is named as Siddhartha 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. After the merger, the registrar office of the bank will be in Kathmandu District, Tinkune-35. The share swap ratio of Siddhartha: Ekata; Nepal Aawas for the merger has been fixed at 1:1:1. The merged entity will have paid up capital of Rs 1.14 arba, deposit of Rs 12.5 arba and loan & advance of Rs 10.5 arba, The merged entity will have 33 branches.