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Nabil, Nepal Bangladesh banks sign merger agreement

Officials of Nabil Bank and Nepal Bangladesh Bank sign and exchange an merger agreement, in Lalitpur, on Thursday, January 13, 2021.
Officials of Nabil Bank and Nepal Bangladesh Bank sign and exchange an merger agreement, in Lalitpur, on Thursday, January 13, 2021.

Kathmandu, January 14

Nabil Bank, one of the biggest commercial banks in the country, has signed a merger agreement with a Nepal-Bangladesh joint venture, Nepal Bangladesh Bank.

Officials of both the parties signed and exchanged the agreement amid a function held in Lalitpur on Thursday.

According to the agreement, 100 units of shares of Nepal Bangladesh Bank will be equal to 43 units of Nabil Bank. A source close to the deal says the banks have not mentioned some crucial issues in the agreement, agreeing verbally.

Following the merger, the bank will be named Nabil Bank whereas its chairman of the board of directors will be Upendra Paudyal from the same side.

Likewise, Nabil’s Anil CEO Keshary Shah will also retain the position, but Nepal Bangladesh Bank’s Bhupendra Pandey will also get a senior executive position.

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