June 20, 2021 | Investopaper
Garima Bikas Bank (GBBL), a national level development bank, has purchased the shares of K.C.L. Astute Capital Limited (Merchant Bank). An agreement has been reached between the two companies to purchase the share ownership.
The MoU was signed by Govinda Prasad Dhakal, Chief Executive Officer of Garima Bikas Bank and Deepak Pandey, Chairman of KCL Astute Capital Limited on Friday.
After the agreement, Garima Bikas Bank will own 51.20 percent shares in K.C.L Astute Capital Limited. With transfer of ownership, the name of K.C.L Astute Capital will be changed to Garima Capital Limited, a subsidiary company of Garima Bikas Bank.