Samata Gharelu Laghubitta and Manakamana Smart Laghubitta To Shut Down Banking Services on Ashad 23 For Data Migration

Samata Gharelu Laghubitta Bittiya Sanstha Limited (SMATA) is set to acquire Manakamana Smart Laghubitta Bittiya Sanstha Limited (MKLB). As part of the merger process, SMATA will shut down all banking services for a day on Ashad 23, 2081 to facilitate data migration before the joint operation begins.

The merger received final approval from Nepal Rastra Bank (NRB) on Jestha 29, SEBON on Ashad 09, and the company registrar on Ashad 11, 2081. Post-merger, the joint entity will operate under the name Samata Gharelu Laghubitta Bittiya Sanstha Limited (SMATA) starting Ashad 24, 2081 while the swap ratio is fixed at 1: 1.

All banking facilities will be unavailable on Ashad 23, 2081, as the companies prepare for the integration of their services and systems.