Details Regarding The Press Release Of Nabil Bank’s Proposed Acquisition Of Nepal Bangladesh Bank

On May 22, 2022, two large Nepali banks, Nabil Bank Limited and Nepal Bangladesh Bank, issued a press release regarding the commencement of joint operation after the acquisition of the latter by the former.

A special general meeting of Nepal Bangladesh Bank and Nabil Bank Limited was convened yesterday, and a special resolution was passed respecting the Bangladesh bank's takeover by Nabil Bank Limited. The acquisition swap ratio was approved by the extraordinary general meeting at 100:43. This means that stockholders who possess 100 Nepal Bangladesh Bank shares will receive 43 Nabil Bank shares (the company after acquisition).

The general meeting also appointed T.R Updhyaya & Co, Chartered Accountant, as the appraiser of the assets, liabilities and transactions of Nepal Bangladesh Bank Ltd in relation to the acquisition.

After the acquisition, Nepal Bangladesh Bank's paid-up capital contribution to the Nabil bank will be 43 percent of NBB's present paid-up capital. As a result, the new company's paid-up capital will be 22.83 arba. Similarly, the loan and deposit amounts will total Rs. 309 arba and Rs. 320 arba respectively. Likewise, the bank's non-fund-based business will grow to Rs. 145 arba. Nabil Bank's branch network will grow to 254 after the acquisition, with a total net profit of Rs. 4.46 arba for the first nine months.

Following the acquisition of Nepal Bangladesh Bank, Nabil Bank, which has been a market leader in banking services in Nepal, will ensure that Nabil Bank remains at the forefront of a number of indicators, including commercial bank deposits, loans, non-interest income, non-fund based business, and gross profit.

Nabil Bank will expand its market presence through innovative services and a larger branch network as a result of this success.