Prime Commercial Bank and Om Development Bank reach agreement for swap ratio of 100:80; paid up capital after the acquisition to be more than Rs.9 Arba

The swap ratio of Prime Commercial Bank and Om Development Bank has been finalized after receiving acceptance from Nepal Rashtra Bank to begin the process of acquisition.

As per the sources, Rs.100 of Prime Commercial Bank will be equated with Rs.80 of Om Development Bank for the proceedings of the acquisition.

After the completion of the acquisition paid up capital of Prime Commercial Bank will be almost Rs.9.5 Arba while the reserves of the bank will stand at almost Rs.4.5 Arba.

The agreement for acquisition between the two parties was reached on 3^rd Bhadra, 2075. Currently, the trading of Om Development Bank in the securities market has been suspended.

Prime Bank has a total of 65 branches across the country while Om Development Bank has a network of 55 branches across the country.