Following a series of merger deals with three different financial institutions earlier, NMB Bank, a class ‘A’ financial institution, has again extended hand to merge with Prudential Finance, a class ‘C’ financial institution. The agreement might be finalised by Sunday.
As per a source with knowledge about the development, both institutions have had several rounds of meetings to seal the merger deal and they are expected to conclude the agreement tomorrow.
NMB Bank recently signed a pact to merge with Clean Energy Development Bank (CEDB) — a national level development bank — on Tuesday. Prior to signing the pact with CEDB, NMB had signed an agreement to merge with Pathibhara Development Bank and Bhrikuti Development Bank on September 29 this year.
If the deal is finalised with Prudential Finance, NMB’s capital fund will stand at Rs 5.96 billion from Rs 5.48 billion at present.
source: the himalayan times,6 dec 2014
LINK
As per a source with knowledge about the development, both institutions have had several rounds of meetings to seal the merger deal and they are expected to conclude the agreement tomorrow.
NMB Bank recently signed a pact to merge with Clean Energy Development Bank (CEDB) — a national level development bank — on Tuesday. Prior to signing the pact with CEDB, NMB had signed an agreement to merge with Pathibhara Development Bank and Bhrikuti Development Bank on September 29 this year.
If the deal is finalised with Prudential Finance, NMB’s capital fund will stand at Rs 5.96 billion from Rs 5.48 billion at present.
source: the himalayan times,6 dec 2014
LINK
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