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. Comments 0 Share your view on this story. Please keep it civil and respectful. No comments yet. Be the first to share your thoughts. Leave a comment Cancel replyYour email address will not be published. Comments appear after moderation.CommentName * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ Write your comments RELATED NEWS Nepal Calls for global mountain climate action PM Shah’s India visit may include Uttarakhand Sandeep’s hat-trick guides Biratnagar to four-wicket win Indian ex-envoy Ranjit Rae holds political meetings Spain’s first nationwide general strike in 14 years Birgunj food grain imports Falls by 63% Top Headlines PM Shah pledges Krishnabhir highway reopening within month1 Nepal “a Buffer State”: Rethinking foreign policy in relative terms2 Monsoon is predictable and Nepal’s disaster response should be too3 Promotion Linked to Future Military Leadership: Major General Magar Could Become Army Chief4 When the State Pulls the Trigger, Who Answers ?5 Before the Ballots: How Oli Lost the Political Narrative6 Nepal’s Political Renaissance: The rise of the RSP, the re-ordering of the old political order and the political path forward7 Balen’s Silence Has Invited Curiosity, Confusion, and Concerns8 TRENDING Once on the Margins, Women Diplomats Are Now Making Their Mark in Nepal’s Foreign Service Sector Pathao, Tootle resume ride sharing services after authorities relax lockdown The Role of the Nepalese Army in Strategic Road Projects 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 Nepal Army initiates investigation into case of financial irregularities by Lieutenant Colonel Janmat Karki
