Siddhartha Development, Public Development enter merger deal

KATHMANDU, NOV 10: 

Siddhartha Development Bank of Kathmandu and Public Development Bank of Birgunj have entered into a merger deal. A memorandum of understanding, in this regard, was signed by Siddhartha Development Bank Chairman Shekhar Aryal and Public Development Bank Chairman Madan Prasad Adhikari on Thursday. "The two banks on Friday submitted an application at Nepal Rastra Bank to formally launch the merger process and requested Nepal Stock Exchange to halt their share transactions until the consolidation process is complete," says a joint statement issued by the banks.

Source: Republica