Trading of KMBL and OFL suspended due to merger; RIBL resumes as REDBL

ShareSansar, July 14:

Trading of Kamana Bikas Bank Limited (KMBL) and Om Finance Limited (OFL) has been suspended from today following the merger process between the BFis.

The two BFIs had recently signed a Memorandum of Understanding (MOU) for the merger to form a national level development bank, which will be named Om Bikas Bank Limited.

Following the merger the deposit mobilization of merged entity will stand at Rs 7.3 arba and loan mobilization will rise to Rs 5.56 arba, according to a press release issued by the BFIs yesterday.

Meanwhile, trading of Reliable Finance Limited (RIBSL) has resumed as Reliable Development Bank (REDBL) from today following successfully merger with Subha Laxmi Finance Limited and Nepal consumer Development Bank Limited.