IDBL's Special AGM approves share swap ratio

Published On: July 12, 2016 08:23 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, July 12: The Special Annual General Meeting of International Development Bank Ltd (IDBL) held on Tuesday approved the share swap ration proposed by the development bank's board of directors.

The meeting held under the chairmanship of Madhav Prasad Bhatta has approved 1:0.73 share swap ratio with Nepal Credit and Commerce Bank Ltd based on due diligence audit report, a statement issued by the development bank on Tuesday said.

IDBL has decided to undergo merger with Nepal Credit and Commerce Bank, Kumari Bank Ltd, Infrastructure Development Bank, Apex Development Bank and Supreme Bank Ltd.

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