June 18, Kathmandu - Nepal Rastra Bank has given approval for the acquisition of three development bank and one finance company to Kumari Bank.
Kasthamandap Development Bank (KDBL) Mahakali Bikash Bank (MBBL) and Kankrebihar Bikash Bank and Pashchimanchal Finance Ccmpany are the financial institution are acquired by the bank. Joint transaction of companies after acquisition is starting from Ashadh 12, 2074 and after the acquisition the registered office of the bank shall be at Durbar Marga and the company will operate as Kumari Bank.
As per the bank, after the issuance of 50% right share, 21% bonus share from the performance of last fiscal year and acquisition of these Bank and Financial institution , the total paid up capital of the bank shall reach to Rs. 5.96 arba.