Bank merger: Nabil Bank to acquire Nepal Bangladesh Bank

This combo image shows Board Member (representing Promoter Shareholders) of Nabil Bank, Udaya Krishna Upadhyay (left) and Director (Public) of Nepal Bangladesh Bank, Indra Bahadur Thapa. Photo: Nabil Bank/Nepal Bangladesh Bank

KATHMANDU: Nabil Bank on Thursday signed a letter of agreement to acquire Nepal Bangladesh Bank (NBB).

As per the agreement, NBB’s 100 points of the share will be equalised to 43 points of the share of Nabil Bank. General Manager of Nabil Bank Manoj Gyawali informed that letter of agreement on acquisition was signed in Lalitpur on Thursday.

Board Member (representing Promoter Shareholders) of Nabil Bank, Udaya Krishna Upadhyay and Director (Public) of NBB, Indra Bahadur Thapa, signed the agreement. Nepal Rastra Bank will be informed about the agreement on Friday.

Nabil Bank is acquiring the NBB by implementing the policy forwarded by the central bank. Earlier, Globe IME Bank had acquired Janata Bank.

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