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 Nepali Congress provides financial assistance for Samba’s treatment We will return the savings of cooperative victims within 100… Govt declares three-day public holiday of election PM Karki addresses 61st Session of Human Rights Council: Reaffirms… UN Resident Coordinator Yahia calls on Home Minister Aryal NC President Thapa expresses sorrow over Dhading bus accident Top Headlines Before the Ballots: How Oli Lost the Political Narrative1 Nepali Congress provides financial assistance for Samba’s treatment2 PM Karki addresses 61st Session of Human Rights Council: Reaffirms Nepal’s unflinching commitment to advancing human rights3 Govt declares three-day public holiday of election4 NC President Thapa expresses sorrow over Dhading bus accident5 Curfew imposed in Birgunj until further notice6 Dhading bus accident: One more dies, 22 receiving treatment in Kathmandu7 UN Resident Coordinator Yahia calls on Home Minister Aryal8 TRENDING Many foreign assistance-funded road projects halted due to covid Gold price exceeds Rs 100 thousand Brazil’s COVID-19 death toll close to 179,000 PM Oli to address the nation at 2pm today Laxmi Bank and Sunrise Bank sign final merger agreement UML’s Tamang wins HoR seat from Kanchanpur-1 UML leading PR vote count with 2,534,323 votes Government to do its best to boost morale of security personnel: Home Minister
