Jyoti Bikas Bank receives go ahead from Nepal Rastra Bank to acquire Hamro Bikas Bank

Jyoti Bikas Bank (JBBL) is a national level development bank that was in process to acquire Hamro Bikas Bank (HAMRO). The latter is a regional development bank headquartered at Nuwakot. The acquisition agreement was signed between the banks on Ashad, 2075 and was waiting the approval of Central Bank. So, Nepal Rastra Bank (NRB) has given a go ahead for this acquisition.

The swap ratio of the acquisition is still dependent on the Due Diligence Audit (DDA) of the banks. The paid-up capital of Jyoti Bikas Bank stands at Rs 2.59 arba, whereas of Hamro Bikas Bank stands at Rs 49.22 crore. Similarly, after the acquisition of Hamro Bikas Bank, the total Deposits of Jyoti Bikas Bank will reach Rs 20.50 arba, the credit portfolio will reach Rs 17.50 arba along with a branch network of 67 branches across the country.

Prior to this Jyoti Bikas Bank has merged with Jimruk Bikas Bank and had acquired Rapti-Bheri Bikas Bank.