Civil Bank to acquire Unique Finance

Published On: August 2, 2016 08:30 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Aug 2: Civil Bank Ltd (CBL) has announced that it was acquiring Unique Finance Ltd (UFL).

Issuing a statement, the commercial bank said that its chairman Ichchha Raj Tamang, and Binod Bahadur Khatri, chairman of UFL, signed an agreement for acquisition.

According to the statement, the name and the current composition of the board of directors and senior management of Civil Bank will remain the same after the acquisition.

Kishore Maharjan, CEO of Civil Bank Limited, said that the acquisition will enhance the business capacity of the bank, enabling it to invest in big infrastructural and industrial projects.

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