Swap Ratio of Nepal Credit and Commerce Bank (NCCB) and Kumari Bank (KBL) Fixed at 1:1

Two pioneer commercial banks of Nepal, Nepal Credit and Commerce Bank Limited (NCCB) and Kumari Bank Limited (KBL) recently signed a Memorandum of Understanding (MoU) for the merger.  

Nepal Stock Exchange has hereby notified that pursuant to the Merger and Acquisition of Banks and Financial Institutions, the swap ratio of Kumari Bank Limited and Nepal Credit and Commerce Bank Limited has been determined to be 1:1.

Based on the evaluation report given by the appraiser appointed to evaluate the assets, liabilities, and transactions of both banks by the joint merger committee established on the basis of the memorandum of understanding for the purpose of merger, a 1:1 Share Swap Ratio has been maintained the by both institutions.

Following the integrated transaction, Kumari Bank Limited's total paid-up capital will be Rs 25.84 Arba. The current paid-up capital of KBL is Rs 14.71 Arba, while NCCB's paid-up capital is currently Rs 11.13 Arba.

On the 910th meeting of the board of directors, (NCCB) proposed a 11% dividend for the fiscal year 2078/79. Whereas, (KBL) approved 12.50% cash dividend from its 22nd AGM held on Kartik 21, 2079.