Prime Bank to start joint transaction after successful acquisition of Kankai Dev. Bank from Bhadra 29; Final nod from NRB received

Date: 2019-09-12

Source: Sharesansar.com

Prime Commercial Bank Limited (PCBL) have received final approval from Nepal Rastra Bank (NRB) to commence its joint transaction after successful acquisition of Kankai Development Bank Limited (KNBL). The joint entity will formally start its operation from Bhadra 29, 2076.
 
Both the companies had already called upon a special general meeting (SGM) on Shrawan 22, 2076 to present, discuss and approve various aspects of the acquisition and PCBL SGM unanimously endorsed the decision to acquire Kankai Development Bank in the share swap ratio of 100:71.50
 
Following the acquisition, PCBL will have 94 branches at different parts of the nation