Kumari Bank to acquire Deva Bikas Bank

Published On: January 20, 2020 10:58 AM NPT By: Republica  | @RepublicaNepal

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.

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.

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