NRB gives Nabil Bank final approval to acquire Nepal Bangladesh Bank

Published On: June 30, 2022 06:25 AM NPT By: Republica  | @RepublicaNepal

KATHMANDU, June 30: Nepal Rastra Bank (NRB) has given its final approval to Nabil Bank to acquire Nepal Bangladesh Bank (NBB) amid ongoing uncertainty for the unification of two banks.

An NRB board meeting held on Wednesday issued an approval for the acquisition. Currently, the employees of two banks have been expressing their dissatisfaction over the proposed settlement of human resources after Nabil acquired NBB.

While NBB staff have been protesting against the proposed demotion after the two banks merge, Nabil Bank staffers have been considering it ‘unfair’ to get merged with equal status to that of NBB’s employees. On January 13, 2022, Nabil Bank and NBB signed an agreement for the acquisition. 

NRB also principally agreed on the proposed merger between Nepal Investment Bank Limited (NIBL) and Mega Bank Nepal Limited (MBNL). The central bank’s consent has paved the way for these banks to carry out their due diligence audit. NIBL and MBNL signed a memorandum of understanding to merge on June 10.

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