Swap ratio of NCC:Kumari at 1:1; joint operation to commence from Kartik

Nepal Credit and Commerce Bank Limited (NCCB), Kumari Bank Limited (KBL), Infrastructure Development Bank Ltd (IDBL), International Development Bank Ltd (INDBL, Apex Development Bank Ltd (APEX)and Supreme Development Bank Ltd (SUPRME) are in the merger process. DDA report of these banks has been made ready. Based on the DDA report the swap ratio of NCC:Kumari:Infrastructure Development:Supreme Development: International Development: Apex Development bank has been fixed at 100:100:77:77:73:48. These banks will be finishing the merger process by Ashad. The merged entity will be commencing its joint operation from the month of Kartik. If the current merger process goes as planned, the paid-up capital of the merged entity will reach Rs 7.25 arba. After the distribution of bonus share of the net profit of the ongoing fiscal year, the paid up will cross Rs. 8 arba.