The special general meetings of Nabil Bank Ltd and Nepal Bangladesh (NB) Bank Ltd have endorsed a proposal to acquire NB Bank by Nabil.
The meetings also approved a share swap ratio of 100:43. As per the decision, shareholders of NB Bank will get 43 shares in Nabil for every 100 shares.
After the acquire of banks Nabil Bank’s paid-up capital will reach Rs 22.83 billion following the acquisition of NB Bank Ltd, while total lending and deposit mobilization will reach Rs 309 billion and Rs 320 billion, respectively. Likewise, the number of branches in the bank’s network will reach 254.
Likewise, the consolidated net profit will reach Rs 4.46 billion which will make Nabil Bank the largest commercial bank in the country.
Global Bank became the largest commercial bank in the country in terms of capital base following the acquisition of Janata Bank Ltd.
