गृहपृष्ठ ∕ Business ∕ Laxmi Bank and Sunrise Bank sign final merger agreement Business Laxmi Bank and Sunrise Bank sign final merger agreement KathmanduPati May 22, 2023 KATHMANDU – Laxmi Bank and Sunrise Bank have signed final agreement for merger amidst a program today. The agreement was signed by Mr. Dinesh Poudyal, Director of Laxmi Bank and Mr Er Bachh Raj Tater Director of Sunrise Bank. The banks have agreed to merge at a swap ratio of 1:1 as per the recommendation received from Due Diligence Auditor. The merged bank will be named as Laxmi Sunrise Bank Ltd and Mr. Ajaya Bikram Shah, current CEO of Laxmi Bank will be the CEO of the merged bank. The first meeting of the Board of Directors of the merged entity shall elect the Chairman of the Board. The final agreement will now be presented for approval from respective general meetings of both the banks. The banks will start joint operation after receiving final approval from Nepal Rastra Bank and Company Registrar’s Office. The banks have targeted to complete the merger process and start joint operation by Ashadh end 2080 BS. Write your comments RELATED NEWS Nepal urges preparedness as super El Niño looms Nepal’s RSP expands secretariat, names key officials Nepal finance minister rules out demonetisation plan Nepal PM Balendra Shah heads to Pokhara, Mustang Imran Khan returned to jail after hospital check-up US national debt surpasses $40 trillion, more than doubling in… Top Headlines Monsoon is predictable and Nepal’s disaster response should be too1 When the State Pulls the Trigger, Who Answers ?2 Before the Ballots: How Oli Lost the Political Narrative3 Promotion Linked to Future Military Leadership: Major General Magar Could Become Army Chief4 Nepal’s Political Renaissance: The rise of the RSP, the re-ordering of the old political order and the political path forward5 Nepal “a Buffer State”: Rethinking foreign policy in relative terms6 Balen’s Silence Has Invited Curiosity, Confusion, and Concerns7 Jagdamba Group Chairman Shankar Agrawal Arrested8 TRENDING Pathao, Tootle resume ride sharing services after authorities relax lockdown What Makes Prithivi Narayan Shah a Philosopher and a Truly Democratic King? The Role of the Nepalese Army in Strategic Road Projects A phone call that paved the way for RAW Chief’s visit to Nepal What role has the Nepal Army been playing in controlling the coronavirus? National Poet Madhav Prasad Ghimire no more Impact of Social Media on Nepalese Society UPAYA CITY CARGO LAUNCHES Version 3.0
