Nabil Bank and Nepal Bangladesh Bank To Commence Joint Transactions From 27th Ashad In The Name Of Nabil Bank Limited

Nabil Bank Limited (NABIL) has obtained a Class A license from Nepal Rastra Bank (NRB). The license has been received in terms of the acquisition of Nepal Bangladesh Bank Limited (NBB), the proposal for which has been passed by the special general meeting of the organizations held on Jestha 7, and from NRB’s final approval which has been granted on Ashad 15.

Likewise, NABIL acquires all the loan funds and liabilities till the last day of the acquisition of NBB. As per the separate meeting of the Board of Directors of both banks, integrated financial transactions will be conducted in the name of Nabil Bank Limited from Monday, Ashad 27.

Upon this joint transaction, the total number of Commercial banks will drop down to 26 in Nepal. 

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 as per the third quarter report of Fiscal Year 2078/79. 

Nabil Bank’s Board of Directors appointed Gyanendra Prasad Dhungana as the new Chief Executive Officer of the bank and he assumed his duties from Friday, Ashad 17. Also, the present Chairman of Nabil Bank Mr. Upendra Prasad Poudyal will continue to be the Chairman of the bank.

OFFICIAL ANNOUNCEMENT