KATHMANDU, Jan 16: Laxmi Bank has completed acquisition of Professional Diyali Bikas Bank and commenced joint operations from Sunday.
Issuing a statement, the bank said that it now has five new locations to its branch network -- Paanchkhal and Bhakundebesi in Kavre, Chautara in Sindhupalchowk, Hakim Chowk, in Bharatpur, Chitwan, and Chipledhunga in Pokhara, Kaski.
Laxmi Bank to acquire Professional Diyalo
The bank is planning to relocate the three overlapping branches -- Sindhuli, Manigram and Manthali -- to new locations in the immediate future, it said.
“The acquisition has strengthened Laxmi Bank’s balance sheet by Rs 240 million in the form of paid-up capital and shareholders’ reserves,” it added. Similarly, the bank acquired assets of Rs 2.2 billion and customer deposits of Rs 1.89 billion.
