Citizens Bank International Limited has signed a final agreement to acquire Tinau Mission Development Bank Limited, headquartered in Butwal, which has a Class B license from Nepal Rastra Bank.

After the acquisition of Tinau Mission Development Bank by Citizens Bank, the deposits raised from the public will reach around Rs 124 billion and the loans given to the public will reach around Rs 102 billion. Upon receipt, the bank will have a total of 163 branches.

As per the agreement, the shareholders of Tinau Mission Development Bank will get 96 shares of Citizens Bank International Limited equal to 100 shares. Citizens Bank's current paid-up capital is Rs 9.81 billion, of which Rs 11.66 billion will be paid-up.