Civil Bank acquires Hama Finance

Published On: September 4, 2016 10:11 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Sept 4: Civil Bank Ltd has acquired Hama Merchant and Finance Co Ltd.

The acquisition process concluded with the signing of final agreement by Civil Chairman Iccha Raj Tamang and Hama Chairman Rajan Krishna Shrestha on Sunday, a statement issued by Civil Bank Ltd said.

"Post-acquisition, the name and the current composition of the Board of Directors and Senior Management of Civil Bank will remain the same," the statement added.

Civil Bank's paid-up capital will reach Rs 5.54 billion after merger with International Leasing & Finance Limited having paid-up capital of Rs 2 billion and acquisition of Unique Finance having paid-up capital of Rs 230 million and Hama Merchant & Finance Limited with paid up capital of Rs 220 million, the statement added.

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