Trading of Triveni Bikas Bank, Bright Dev. Bank and Public Dev. Bank halted for merger

Triveni Bikas Bank, Bright Development Bank and Public Development Bank’s scrip halted for trading from today. The three development banks signed the Memorandum of understanding (MoU) yesterday to start the merger process.

The MoU was signed by Lanka Bahadur K.C. - Chairman of Triveni Bikas Bank, Madan Prasad Adhikari - Chairman of Public Development Bank and Bhej Prasad Timilsina - Chairman of Bright Development Bank Ltd.

According to Bhej Prasad Timilsina, Chairman of Bright Development Bank Limited the merged entity will be named Triveni Bikas Bank Limited.

He further stated that the swap ratio will be decided once the Due Diligence Audit (DDA) is completed and he also mentioned that they intend to complete the merger process within six months to the max.

Triveni Bikas Bank distributing 19% bonus & 10:3 rights shares certificates from today

Triveni Bikas Bank Limited is distributing bonus shares well as ratio rights share certificates from today.

The Annual General Meeting of the development bank held on November 29 had endorsed 19 percent bonus shares to the shareholders from the net profit it posted in the last fiscal year 2069/70.

Triveni Bikas Bank allotting rights share and refunding non-allottees from today

Triveni Bikas Bank is allotting rights shares at 10:3 ratio to all the shareholders and refunding the money to non-allottees from today.
 The development bank had decided issued 7.45 lakh units of rights shares of Rs 100 face value on December 5.

 ACE Capital Limited at Lal Durbar of Kathmandu is the issue manager.

Triveni Bikash Bank to distribute 20% bonus share

The second annual general meeting of Triveni Bikash Bank held on Friday decided to distribute 20 percent bonus shares to its shareholders.

According to a press statement, the bank decided to distribute bonus shares worth Rs 2.48 million to its shareholders.

Triveni Bikash Bank to endorse 19% bonus share

Triveni Bikas Bank Limited is holding its tenth Annual General Meeting today. The AGM is scheduled to endorse 19 percent bonus shares to the shareholders from the net profit the development bank earned in the last fiscal year 2069/70.

52.63 % dividend of Excel Dev Bank, 19% bonus share of Triveni Bikas Bank approved; Mahakali Bikas Bank proposes 18.9% dividend

Nepal Rastra Bank has endorsed 52.63 percent dividend – 50 percent bonus shares and 2.64 percent cash — proposed by Excel Development Bank Limited from the profit it posted in the last fiscal year.

After the distribution of the bonus shares, the development bank’s paid-up capital will rise to Rs 15 crore.