Sunrise Bank to acquire Biratnagar based Srijana Finance; bank aims to expand business in eastern plains with 92.31 arba in deposit and 84.31 arba in loan post acquisition

Thu, Jan 23, 2020 7:18 AM on Latest, Stock Market,

Sunrise Bank has inked an agreement to acquire Srijana Finance on Magh 8, 2076. It was agreed that the DDA will be aptly conducted following which the share swap ratio between these two institutions shall be finalized.

Sunrise Bank currently has 130 branches, 8 extension counters while Srijana Finance is a Biratnagar based finance company with its 21 branches at Morang, Sunsari and Saptari districts.

As per the financial report till the second quarter of FY 2076-77, Sunrise Bank has a deposit collection of around Rs 85 arba with Rs 78 arba as loan disbursement while Srijana Finance has Rs 7.31 arba and loan disbursement figure of Rs 6.31 arba thereby raising the deposit collection to Rs 92.31 arba and loan disbursement of Rs 84.31 arba post acquisition.