Transaction of Gandaki Bikas Bank halted in NEPSE after inking the acquisition agreement with Mega Bank

Nepal Stock Exchange (NEPSE) has published a notice stating the transaction of Gandaki Bikas Bank (GDBL) will be halted from Ashwin 08, 2076. A total of 2.75 crore unit shares of GDBL will be frozen.

The halt has been enforced after the bank signed an agreement with Mega Bank limited (MEGA) to be acquired.

The MoU that outlined the acquisition process in principle was signed between chairman of Mega Bank Mr. Bhoj Bahadur Shah and his counterpart at Gandaki Bikas Bank Mr. Sushil Gauchan amid a program on Wednesday.

As per the financial reports of both banks until the end of the FY 2075-76, the combine deposit collection stood at Rs 1.12 kharba, credit disbursement of Rs 98 arba, and 191 branches.