Why 3 banks of Share trading closed in NEPSE ?

Jun Thu 2022 04:35:49

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Why 3 banks of  Share trading closed in NEPSE ?

Kathmandu. Nepal Rastra Bank is trying to reduce the number of commercial banks. But in this endeavor, Nepal Stock Exchange is ahead of NRB. Currently, there are 27 commercial banks doing banking business with permission from NRB. Only 24 commercial banks are listed on the Tarstock Exchange. Three banks have dropped out of Nepse's listing. Their share trading is closed.

Though months have passed since the merger process with Pal Investment Bank, the share trading of Himalayan Bank has not been opened. The Nepal Stock Exchange has stated that the bank's shares are not listed in Nepse as the Himalayan Bank has not completed the procedures required to open the share trading.

Similarly, the shares of Nepal Bangladesh Bank that Navil Bank is about to acquire have also been removed from the listing of Nepse.As the acquisition proposal has been passed by the special general meeting of both the banks and is in the process of final approval from the regulator, the listing of Nepal Bangladesh Bank is likely to be rejected forever.

Rastriya Banijya Bank, which has more than 99 percent government shares, is not listed in Nepse as it has not issued shares to the public. As the three banks are not listed in Nepse, shares of 24 out of 27 banks are being traded regularly.