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 Revenue collection surpasses target in Tatopani customs Minister Bhandari says economy improving gradually Raya appointed as Auditor General Prioritize Nepal for adaptation funds, says Finance Minister Pun 16 hydel projects under development in Tamor river Fourteen injured in bus accident 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 Govt. forms former-judge Poudel led probe commission to investigate Balkumari incident3 1.3 kilos of gold confiscated from TIA4 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 Public Relations for a Soldier We need to be serious about the international scenario post-Covid: Dr. Nischal N. Pandey Nearly three dozen Chinese manufacturers show interest in supplying electric buses to Nepali government Govt Making Preparations to Reduce the Tenure of Armed Police Force’s IG to Three Years The envisioned Defense University and its rationale WAP and the portrayal of the female body as a commodity Female officer placed in charge of armed force after 50 years India-Nepal Bilateral Dialogue is the only way forward: Dr. Nihar Nayak
