Nabil Bank inks deal to acquire Nepal Bangladesh Bank despite court’s stay order
The agreement came a day after the Kathmandu District Court (KDC) issued a stay order barring Nepal Bangladesh Bank (NBB) from selling the promoter shares of its foreign partner, IFIC Bank Limited, Bangladesh, to Chaudhary Group of Nepal.
Nabil Bank has completed the acquisition of Nepal Bangladesh Bank, receiving all capital and financial responsibilities, and assets and liabilities. The ‘A’ grade banks reached an agreement with the swap ratio of 100:42. The acquisition was made with the permission from Nepal Rastra Bank. This now makes the Nabil bank the largest financial institution in […]
Nabil Bank has announced the completion of the Nepal Bangladesh (NB) Bank acquisition process. The two banks started their integrated transitions as Nabil Bank Limited from Monday, July 11. The central bank has allowed the two banks to start their integrated transitions. Nabil has acquired Nepal Bangladesh Bank Limited with the permission from the Nepal Rastra Bank. With the completion of this acquisition process, Nabil bank has received all the capital and financial responsibilities of NB Bank, Chairman of the former, Upendra Poudyal, said at a programme organised to announce the joint operation on Monday evening.
KATHMANDU: Nabil Bank and Nepal Bangladesh Bank are starting integrated transactions on July 11. Integrated transactions will be conducted under the name of Nabil Bank. The meeting of the two banks held on May 21 had passed the acquisition proposal. The central bank had given final approval for the integrated transactions on June 29, last week. […]
KATHMANDU, May 21: Nabil Bank has received approval from its shareholders for acquisition of Nepal Bangladesh Bank (NBB) after the special annual general meeting held on Saturday endorsed the proposal.
Nabil Bank, one of the biggest commercial banks in the country, has signed a merger agreement with a Nepal-Bangladesh joint venture, Nepal Bangladesh Bank.
The post Nabil, Nepal Bangladesh banks sign merger agreement appeared first on OnlineKhabar English News.
