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.
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