Kathmandu. Citizens Bank International Limited is going to acquire Sirjana Finance Limited, headquartered in Biratnagar, which has a Class C license from Nepal Rastra Bank. A preliminary agreement was signed with the company on Wednesday. The agreement was signed by Prabal Jung Pandey, Director and Coordinator of Merger and Acquisition Committee on behalf of the bank and Subash Acharya, Coordinator of Merger and Acquisition Committee on behalf of Sirjana Finance Limited.

The bank has stated that it is preparing to start joint venture by acquiring Tinau Mission Development Bank Limited after the final approval of Nepal Rastra Bank. After the acquisition of Citizens Bank International Limited by Sirjana Finance Limited, the deposits raised from the public will be around Rs 134 billion and the loans given to the public will be around Rs 111 billion. The bank claims that the total number of branches will be 188 after the receipt.