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 Flood relief funds reach Rs 17.54 billion Landslide suspected as cause of deadly Budhi Gandaki flood CJP leaders released after 24 hours in Delhi police custody Riyadh airport attack kills 12, injures 309 Flood sweeps away six bridges, 10 people missing Flood sweeps away 35 homes in riverside villages Top Headlines Monsoon is predictable and Nepal’s disaster response should be too1 Nepal “a Buffer State”: Rethinking foreign policy in relative terms2 Promotion Linked to Future Military Leadership: Major General Magar Could Become Army Chief3 When the State Pulls the Trigger, Who Answers ?4 Before the Ballots: How Oli Lost the Political Narrative5 PM Shah pledges Krishnabhir highway reopening within month6 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 We need to be serious about the international scenario post-Covid: Dr. Nischal N. Pandey Lockdown 2.0: What the Government should do this time around Now more than ever, support the IT sector Tourism entrepreneurs get crash course in Chinese language Why the PLA broadcasted Punjabi songs for Indian troops Time Tested Friendship-Suresh Sharma Federal Parliament Secretariat returns badge pins to manufacturer WAP and the portrayal of the female body as a commodity
