Nabil allowed for acquisition of Nepal Bangladesh Bank

KATHMANDU, MARCH 14 : Nepal Rastra Bank has agreed, in principle, to allow Nabil Bank for the acquisition of Nepal Bangladesh Bank (NBB) . The two banks have already signed a preliminary agreement in this regard. Currently, the paid-up capital of NBB is Rs 10.09 billion while the same of  Nabil stands at Rs 18.50 billion.

Following the acquisition, Nabil will boast of the paid-up capital amounting to Rs 23 billion on the basis of the agreed swap ratio . Such ratio has been fixed at 100 units shares of NBB equivalent to 43 units shares of Nabil Bank.

Similarly, after the unification of the two financial institutes, their primary capital will be Rs 44 billion.