January 14, 2020 | Investopaper
Citizens Bank International Limited has made a final agreement to acquire Sahayogi Bikas Bank and it has informed Nepse about it on Paush 28, 2076. Earlier, Citizens and Sahayogi Bikas Bank signed the agreement on Ashad 22, 2076.
After Citizens Bank acquires Sahayogi Bikas Bank, the new bank will remain as the Citizens Bank International Limited. The share swap ratio stands at 100:91.75 between Citizens Bank and Sahayogi Bikas Bank. Now, the bank needs final approval from Nepal Rastra Bank for the acquisition.