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<p style="text-align: justify;">"Some BFIs are at the last stage of merger and acquisition and some are in the process of receiving approval," said Narayan Prasad Poudel, Spokesperson of NRB. Among the LOI recipients BFIs, Prime Commercial Bank is set to acquire Biratlaxmi Bikash Bank and Country Development Bank. Similarly, Global IME Bank has also submitted letter to NRB for an acquisition of Reliable Development Bank, however, the process of LOI has not started yet.</p>
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<p style="text-align: justify;">"Some BFIs are at the last stage of merger and acquisition and some are in the process of receiving approval," said Narayan Prasad Poudel, Spokesperson of NRB. Among the LOI recipients BFIs, Prime Commercial Bank is set to acquire Biratlaxmi Bikash Bank and Country Development Bank. Similarly, Global IME Bank has also submitted letter to NRB for an acquisition of Reliable Development Bank, however, the process of LOI has not started yet.</p>
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<p style="text-align: justify;">The merger and acquisition strategy aids for banking business promotion, capital increment opportunity and stability in financial sector, claims NRB.</p>
<p style="text-align: justify;"> </p>
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Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 115]
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<p style="text-align: justify;">"Some BFIs are at the last stage of merger and acquisition and some are in the process of receiving approval," said Narayan Prasad Poudel, Spokesperson of NRB. Among the LOI recipients BFIs, Prime Commercial Bank is set to acquire Biratlaxmi Bikash Bank and Country Development Bank. Similarly, Global IME Bank has also submitted letter to NRB for an acquisition of Reliable Development Bank, however, the process of LOI has not started yet.</p>
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<p style="text-align: justify;">The BFIs are falling for merger and acquisition in order to increase their paid-up capital. Most of the commercial banks are planning to issue bonus and right shares to increase capital, however, development banks and finance companies are stressing on mergers.</p>
<p style="text-align: justify;">"Some BFIs are at the last stage of merger and acquisition and some are in the process of receiving approval," said Narayan Prasad Poudel, Spokesperson of NRB. Among the LOI recipients BFIs, Prime Commercial Bank is set to acquire Biratlaxmi Bikash Bank and Country Development Bank. Similarly, Global IME Bank has also submitted letter to NRB for an acquisition of Reliable Development Bank, however, the process of LOI has not started yet.</p>
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<p style="text-align: justify;">The merger and acquisition strategy aids for banking business promotion, capital increment opportunity and stability in financial sector, claims NRB.</p>
<p style="text-align: justify;"> </p>
<p style="text-align: justify;"> </p>
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Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 116]
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<p style="text-align: justify;"> </p>
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<p style="text-align: justify;">"Some BFIs are at the last stage of merger and acquisition and some are in the process of receiving approval," said Narayan Prasad Poudel, Spokesperson of NRB. Among the LOI recipients BFIs, Prime Commercial Bank is set to acquire Biratlaxmi Bikash Bank and Country Development Bank. Similarly, Global IME Bank has also submitted letter to NRB for an acquisition of Reliable Development Bank, however, the process of LOI has not started yet.</p>
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<p style="text-align: justify;">The merger and acquisition strategy aids for banking business promotion, capital increment opportunity and stability in financial sector, claims NRB.</p>
<p style="text-align: justify;"> </p>
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December 6: A total of 45 banks and financial institutions (BFIs) are in merger or acquisition process in a bid to attain Rs 8 billion paid-up capital by the end of next FY as per the direction of Nepal Rastra bank (NRB). As per the NRB's merger department, five BFIs have acquired final approval for merger from NRB. Apart from that, 13 BFIs have received agreement in principle (Letter of Intent) for merger and acquisition. Similarly, remaining 24 BFIs have, though, submitted request letters, have not started the process of agreement in principle.
The BFIs are falling for merger and acquisition in order to increase their paid-up capital. Most of the commercial banks are planning to issue bonus and right shares to increase capital, however, development banks and finance companies are stressing on mergers.
"Some BFIs are at the last stage of merger and acquisition and some are in the process of receiving approval," said Narayan Prasad Poudel, Spokesperson of NRB. Among the LOI recipients BFIs, Prime Commercial Bank is set to acquire Biratlaxmi Bikash Bank and Country Development Bank. Similarly, Global IME Bank has also submitted letter to NRB for an acquisition of Reliable Development Bank, however, the process of LOI has not started yet.
According to the central bank, BFIs normally finalise the merger or acquisition agreement within 1 week or 10 days after receiving LOI. Poudel informed that the BFIs seeking for merger must present the file before board of directors (BOD) minimum three times till the process ends and the BOD takes a decision regarding the merger process.
The merger and acquisition strategy aids for banking business promotion, capital increment opportunity and stability in financial sector, claims NRB.
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<p style="text-align: justify;">The BFIs are falling for merger and acquisition in order to increase their paid-up capital. Most of the commercial banks are planning to issue bonus and right shares to increase capital, however, development banks and finance companies are stressing on mergers.</p>
<p style="text-align: justify;">"Some BFIs are at the last stage of merger and acquisition and some are in the process of receiving approval," said Narayan Prasad Poudel, Spokesperson of NRB. Among the LOI recipients BFIs, Prime Commercial Bank is set to acquire Biratlaxmi Bikash Bank and Country Development Bank. Similarly, Global IME Bank has also submitted letter to NRB for an acquisition of Reliable Development Bank, however, the process of LOI has not started yet.</p>
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<p style="text-align: justify;">The merger and acquisition strategy aids for banking business promotion, capital increment opportunity and stability in financial sector, claims NRB.</p>
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<p style="text-align: justify;"> </p>
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<p style="text-align: justify;">The BFIs are falling for merger and acquisition in order to increase their paid-up capital. Most of the commercial banks are planning to issue bonus and right shares to increase capital, however, development banks and finance companies are stressing on mergers.</p>
<p style="text-align: justify;">"Some BFIs are at the last stage of merger and acquisition and some are in the process of receiving approval," said Narayan Prasad Poudel, Spokesperson of NRB. Among the LOI recipients BFIs, Prime Commercial Bank is set to acquire Biratlaxmi Bikash Bank and Country Development Bank. Similarly, Global IME Bank has also submitted letter to NRB for an acquisition of Reliable Development Bank, however, the process of LOI has not started yet.</p>
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<p style="text-align: justify;">The merger and acquisition strategy aids for banking business promotion, capital increment opportunity and stability in financial sector, claims NRB.</p>
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<p style="text-align: justify;">The BFIs are falling for merger and acquisition in order to increase their paid-up capital. Most of the commercial banks are planning to issue bonus and right shares to increase capital, however, development banks and finance companies are stressing on mergers.</p>
<p style="text-align: justify;">"Some BFIs are at the last stage of merger and acquisition and some are in the process of receiving approval," said Narayan Prasad Poudel, Spokesperson of NRB. Among the LOI recipients BFIs, Prime Commercial Bank is set to acquire Biratlaxmi Bikash Bank and Country Development Bank. Similarly, Global IME Bank has also submitted letter to NRB for an acquisition of Reliable Development Bank, however, the process of LOI has not started yet.</p>
<p style="text-align: justify;">According to the central bank, BFIs normally finalise the merger or acquisition agreement within 1 week or 10 days after receiving LOI. Poudel informed that the BFIs seeking for merger must present the file before board of directors (BOD) minimum three times till the process ends and the BOD takes a decision regarding the merger process.</p>
<p style="text-align: justify;">The merger and acquisition strategy aids for banking business promotion, capital increment opportunity and stability in financial sector, claims NRB.</p>
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<p style="text-align: justify;">"Some BFIs are at the last stage of merger and acquisition and some are in the process of receiving approval," said Narayan Prasad Poudel, Spokesperson of NRB. Among the LOI recipients BFIs, Prime Commercial Bank is set to acquire Biratlaxmi Bikash Bank and Country Development Bank. Similarly, Global IME Bank has also submitted letter to NRB for an acquisition of Reliable Development Bank, however, the process of LOI has not started yet.</p>
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<p style="text-align: justify;">"Some BFIs are at the last stage of merger and acquisition and some are in the process of receiving approval," said Narayan Prasad Poudel, Spokesperson of NRB. Among the LOI recipients BFIs, Prime Commercial Bank is set to acquire Biratlaxmi Bikash Bank and Country Development Bank. Similarly, Global IME Bank has also submitted letter to NRB for an acquisition of Reliable Development Bank, however, the process of LOI has not started yet.</p>
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<p style="text-align: justify;">The merger and acquisition strategy aids for banking business promotion, capital increment opportunity and stability in financial sector, claims NRB.</p>
<p style="text-align: justify;"> </p>
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