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 There is no truth in publicity about leaking of budget… MPS draw government’s attention on various issues Innovation Ministry gets down to business after getting leadership Nepal reassures India over border remarks but domestic political fallout… RSP appoints Hikmat Jung Karki to party’s Central International Relations… Nepal explains UK’s role in border row with India Top Headlines Before the Ballots: How Oli Lost the Political Narrative1 Nepal “a Buffer State”: Rethinking foreign policy in relative terms2 Balen’s Silence Has Invited Curiosity, Confusion, and Concerns3 Jagdamba Group Chairman Shankar Agrawal Arrested4 We will return the savings of cooperative victims within 100 days : Rabi Lamichhane5 Two Offices Under Ministry of Communication to Be Abolished6 Court Orders Release of UML Rekha Sharma7 Nepali Congress provides financial assistance for Samba’s treatment8 TRENDING Once on the Margins, Women Diplomats Are Now Making Their Mark in Nepal’s Foreign Service Sector The Role of the Nepalese Army in Strategic Road Projects Impact of Social Media on Nepalese Society Public Relations for a Soldier Nepal Army initiates investigation into case of financial irregularities by Lieutenant Colonel Janmat Karki Nepal Army’s mission in Lebanon provides Covid support kits to local municipalities Army Day : Five facts about Nepal’s ‘blue helmets’ in UN-peacekeeping missions We need to be serious about the international scenario post-Covid: Dr. Nischal N. Pandey
