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 will lend full-fledged support to enable UN’ Lalitpur forest fire: Another injured also dies UML chairman Oli extends International Workers’ Day best wishes Karnali Province Third Session prorogued without passing bills Pollution rises in Kathmandu, people urged to wear masks Suhang Nembang’s journey from a lawyer to a legislator Top Headlines Nepal, India sign long-term agreement on electricity export, materializing MoU reached during PM’s visit1 NC, Maoist Centre discuss about NA election2 1.3 kilos of gold confiscated from TIA3 Govt. forms former-judge Poudel led probe commission to investigate Balkumari incident4 Dhakal recommended as SC chief registrar5 Manpower agency owner arrested for cheating more than Rs 1.9 million6 President expresses concern over ’emptying’ villages for lack of employment opportunities7 PM Dahal stresses on developing innovative agricultural system8 TRENDING The Role of the Nepalese Army in Strategic Road Projects UPAYA CITY CARGO LAUNCHES Version 3.0 Army Day : Five facts about Nepal’s ‘blue helmets’ in UN-peacekeeping missions Lockdown 2.0: What the Government should do this time around Nearly three dozen Chinese manufacturers show interest in supplying electric buses to Nepali government Asheem Man Singh Basnyat: We can evolve as a company to better suit a post-covid world The FinCEN Files: Nepali banks and companies transact billions of rupees through dubious channels Agriculture: Nepal’s bridge to overcome economic crisis