NMB Bank & Om Development Bank start joint operation from Ashwin 11
September 24, 2019 | Investopaper
NMB Bank and Om Development Bank will start joint operation from Ashwin 11, 2076.
The merger received final approval from Nepal Rastra Bank on Ashwin 1, 2076. After the approval from Office of Company Registrar on Ashwin 5, the banks have decided to start the joint operation.
The new bank will exist in the name of NMB Bank Limited. NMB Bank and Om Development Bank merged in the swap ratio of 100:76. Every 100 shares of Om Development Bank will receive 76 shares of new NMB Bank.
Both the banks had signed the merger agreement on Jestha 2, 2076.
At current, NMB bank has a capital of Rs. 9.61 Arba while Om Development Bank capital stood at Rs. 2.51 Arba. After the merger, the capital will rise to Rs. 11.52 Arba.
9.61+2,51 = 12.12 ( ?)