Kathmandu, July 13
Himalayan Bank is acquiring Civil Bank. The two commercial banks signed a deal for this purpose in Kathmandu on Wednesday.
Himalayan Bank Chairman Prachanda Bahadur Shrestha and Civil Bank’s counterpart Pratap Jung Pandey signed the agreement.
The two banks have agreed to become one at the swap ratio of 100:81, meaning 100 units of the Civil Bank shares are equal to 81 units of the shares of the other bank.
After the banks start the unified operation, Himalayan’s CEO Ashok Rana will retain the position whereas Civil’s Sunil Kumar Pokhrel will be his deputy.
The paid-up capital of Himalayan Bank is Rs 12.96 billion and the other bank is Rs 9.07 billion.
The two banks have agreed to integrate their staff teams also in a respectful manner, informs Pandey.
Just recently, Nabil Bank acquired Nepal Bangladesh Bank.