June 2 : Kumari Bank Limited (KBL) has organized its special general meeting at Naxal in the capital on Monday (June 1). The meeting approved a proposal for the acquisition of Dev Development Bank Limited by the KBL.
After the acquisition, the paid-up capital, deposit amount and loan investment of of the KBL will jump to Rs 12.50 billion, Rs 120 billion and Rs 105 billion respectively, while the number of its total branch offices will reach 209 .The meeting also decided to fix the share swap ratio of Kumari bank and Dev Bikash at 1:0.86.
According to the bank, it is adopting the digital platform of zoom to collect the required opinions and suggestions of its shareholders amidst the COVID-19 induced lockdown.
