Tourism Development Bank to acquire Matribhumi Bikas Bank; Also announces 16% stock dividend

Tourism Development Bank Limited (TDBL) will be acquiring Matribhumi Bikas Bank Limited (MTBL). Both the banks have signed a Memorandum of Understanding on Mangsir 17, 2072. The trading of scrips of MTBL will halt in Nepal Stock Exchange Limited from Sunday. Tourism Development Bank Limited (TDBL) has announced 16% stock dividend and 0.84% cash dividend (for tax purpose) from the profit earned in the last fiscal year. According to 4^th quarter report, TDBL as a paid up capital of Rs 67.84 crore after the issuance of bonus share it’s paid up capital will reach to Rs 78.69 crore. Its deposit collection stands at Rs 6.19 arba and loan mobilization of Rs 5.11 arba According to 1^st quarter report MTBL has a paid up capital of Rs 4.84 crore, reserve of Rs 1.86 crore. It has s deposit collection of Rs 41.65 crore and loan mobilization of Rs 26.58 crore.