SGM of NMB Bank approves acquisition of Kanchan Development Bank

NMB Bank has concluded its SGM successfully on July 5 which has approved the acquisition of Kanchan Development Bank in a share swap ratio of 100:85. Following the acquisition of the regional level development bank with strong holding in Sudurpaschim province, the bank will have a paid-up value of Rs 14.45 billion, a reserve of Rs 7.05 billion, 184 branches, eight extension counters.