KATHMANDU, Jan 20: Kumari Bank Ltd has announced the acquisition of Deva Bikas Bank Ltd (DBBL). Issuing a statement, the commercial bank said that it signed a memorandum of understanding (MoU) with DBBL for acquiring the 'B' class development bank on Wednesday.
Deva Development Bank to acquire Union Finance
Following the acquisition of DBBL, the commercial bank will have a paid-up capital of Rs 12.5 billion, Rs 120 billion in deposits and Rs 105 billion in loan. The combined entity will have a total of 200 branches across the country.
Kumari Bank is confident that its internal financial, human resources, technical and other capacities will be enhanced following the acquisition.