Trading of Kanchan Development Bank halted after merger agreement with NMB Bank; NEPSE publishes notice

Nepal Stock Exchange Limited (NEPSE) has published a notice regarding trading halt in securities of Kanchan Development Bank Limited (KADBL).

As per the notice, since the development bank had signed agreement to merge with NMB Bank Limited (NMB), the trading in securities of KADBL has been halted from Magh 27, 2076 i.e. today.

Kanchan Development Bank has footprints across Province 7 from Kailali to Kanchanpur, Dadeldhura, Baitadi, and Doti covering 5 districts with 17 branches and 3 extension counters. Post merger NMB network shall further strengthen in Province 7 to include 24 branches and 4 extension counters

NMB Bank currently has a network of 163 branches, 131 ATMs and 5 extension counters across the country. The Bank has been recognized as The Bank of the Year – Nepal in 2017 & 2018'', by The Financial Times, London in 2017 and 2018 consecutively.