Kathmandu, July 7
The central bank says Nabil Bank and Nepal Bangladesh Bank have been allowed to start integrated transactions from coming Monday, July 11.
From that day, existing branches of Nepal Bangladesh Bank will also begin operation as Nabil Bank.
It means Nabil Bank has completed the Nepal Bangladesh Bank acquisition process.
Nepal Rastra Bank‘s Bank and Financial Institutions Regulation Department says a meeting of the central bank officials on June 29 approved the acquisition.
The two banks had signed the acquisition deal in January this year. The two banks have agreed to become one at the swap ratio of 100:42, meaning 100 units of the Nepal Bangladesh Bank shares are equal to 42 units of the shares of the other bank.
