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Published On: November 8, 2016 08:30 PM NPT By: Republica

Janata Bank, Tribeni Bikas Bank sign merger pact

Janata Bank, Tribeni Bikas Bank sign merger pact

KATHMANDU, Nov 8: Janata Bank Nepal Ltd and Triveni Bikas Bank Ltd have signed a memorandum of understanding (MoU) for merger.  

According to a joint press release issued by the two institutions, paid-up capital of the merged entity will Rs 5 billion.

Janata Bank has total paid-up capital of Rs 2.60 billion, while Triveni is operating with a capital of Rs 820 million.

Both banks will distribute 50 percent right share and bonus share from their capital before merger.

Janata Bank has said that it was open for merger and acquisition with other banks and financial institutions to increase its capital.

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