Tourism, Matribhumi and Kalinchowk Development Bank joint operation from Poush 24, Swap finalized at 100:92:77

Nepal Rastra Bank had given final approval for the acquisition of Matribhumi Bikas Bank and Kalinchowk Development Bank by Tourism Development Bank on Poush 9, 2073. The joint operation of these three development banks is going to start from Poush 24, 2073 (January 8, 2017). The new entity will be named “Tourism Development Bank Limited”, and will start the integrated business from Poush 24. As per the notice published today, ATM services, SMS, Internet and 365 Days banking services of the three development banks will remain closed on Poush 22 and Poush 23 to integrate transactions and data of all banks into single software. The swap ratio is finalized at 100:92:77 of Tourism Development Bank Limited, Matribhumi Bikas Bank Limited and Kalinchowk Development Bank respectively.