Kumari Bank and Laxmi Bank Preparation for Merger Swap Ratio is 100:100

Jun Sat 2022 05:08:44

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Kumari Bank and Laxmi Bank Preparation for Merger Swap Ratio is 100:100

Kathmandu. Discussions on merger between Kumari and Laxmi Bank have intensified. It is said that the merger is being discussed between Laxmi Bank and Kumari Bank to finalize the merger within a few days. The name and swap ratio are currently being discussed. Laxmi and Kumari Bank have discussed the possibility of merging in the ratio of 100: 100. While one bank after another is concluding a merger agreement, Kumari and Laxmi Bank are also about to merge. If the two banks merge, the paid up capital will reach Rs 26.26 billion.

Earlier, the bank had started internal discussions with Sunrise Bank for a merger. Discussions between the two banks could not move forward as there was no agreement in the initial discussions. The government and regulators have given a month to seek tax exemptions and regulatory concessions after the merger. As the government has removed the tax concession through the budget and the concession given by the regulatory body will be removed from August, the preparation of merger and acquisition agreement in merger and acquisition has gone a long way.