Trading of Hamro Bikas Bank halted in NEPSE; Hamro Bikas Bank being acquired by Jyoti Bikas Bank

Trading of Hamro Bikas Bank Limited (HAMRO) has been suspended in NEPSE due to acquisition by Jyoti Bikas Bank Limited (JBBL). JBBL, a national level development bank, is now set to acquire HAMRO, a Nuwakot-based one-district-level development bank. JBBL is currently providing banking services through its 57 branches and 18 ATM outlets at different locations but does not have a branch in Nuwakot district.

Previously, Hamro Bikas Bank Limited (HAMRO), Jyoti Bikas Bank Limited (JBBL) and Jhimruk Bikas Bank Limited (JHBL) had signed agreement for merger with each other in Mangsir, 2072. Trading of the trio had been on halt from Mangsir 12, 2072. However, the trading of HAMRO had resumed on Shrawan 23, 2073 after the cancellation of the merger process.

JBBL had started joint operation with Raptibheri Bikas Bank Limited on Kartik 8, 2074 after successfully acquiring it.