Shine Resunga Development Bank starts joint operation from today

October 14, 2019 | Investopaper

After the successful acquisition of Purnima Bikas Bank and Bhargav Bikas Bank, Shine Resunga Development Bank has started a joint operation from today(Ashwin 27, 2076). The newly formed bank will operate in the name of ‘Shine Resunga Development Bank’. Shine Resunga acquired Purnima and Bhargav Bikas Bank in the swap ratio of 1:0.95:0.95. Every 100 shares of Purnima and Bhargav Bikas Bank will receive 95 shares of Shine Resunga Development Bank.

The board members of the bank after the acquisition are:

S.N. Board Members Designation
1 Rajendra Prasad Shrestha Chairman
2 Thaneshwor Poudel Director
3 Dr. Tara Prasad Upadhyaya Director
4 Er. Suraj Upreti Director
5 Mohan Chapagain Director
6 Sudarsan Gautam Director

Before the acquisition, Shine Resunga Development Bank has made a profit of Rs. 41 crores in the fiscal year 2075/76. Likewise, Purnima and Bhargav Bikas Bank have made a profit of  Rs. 8 crores and Rs. 6.70 crores respectively.

Related Contents:

Shine Resunga to acquire Bhargav Bikas Bank

Shine Resunga to acquire Purnima Bikash bank


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