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

Siddhartha Development Bank, Ekata Bikash Bank & Nepal Aawas Finance is commencing its joint operation from today as Siddhartha Development Bank Limited. Nepal Rastra Bank had given the final approval for the merger of Siddhartha Development Bank Limited, Ekata Bikash Bank Limited and Nepal Awas Finance Limited on Jestha 13, 2073. The merged entity will be publishing combined quarterly report in the upcoming quarter after their joint operation. Banking activities of the trio banks had remained close on Jestha 27   for the process of system integration to start joint operation. 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 10.7 arba and loan & advance of Rs 8.55 arba, The merged entity will have 29 branches.