Trading of Jhimruk Bikas Bank suspended due to the merger process with Jyoti &Hamro Bikas bank

The security of Jhimruk Bikas Bank Limited (JHBL) has been suspended for going into merger process. Jhimruk Bikas Bank has entered into a merger process with Hamro Bikas Bank and Jyoti Bakas Bank. The JHBL has been operating in Pyuthan district with five branches. Nuwakot based Hamro Bikas Bank and Kathmandu based Jyoti Bikas Bank had signed an agreement to go for merger on November 29, 2015. At present Jyoti Bikas Bank has a paid up capital of Rs 92.34 crore and Hamro Bikas Bank has a paid up capital of Rs 10.63 crore which also includes the bonus share. At present Jhimruk Bikas Bank has a paid up capital of Rs 4.85 crore and a reserve of Rs 1.95 crore. Its net worth stands at Rs 139.82. JHBL has posted a net profit of Rs 16.40 lakh in the first quarter of fiscal year 2072/73. The LTP of JHBL stood at Rs 384 on January 14, 2016.