Kist Bank & Prabhu Bikas Bank very close to a merger

Kist Bank Nepal and Prabhu Bikas Bank are now very close to a merger. After taking over major shares of Kist, with the help of its former chairperson, the Prabhu Group is now planning to take over the management for a smooth merger.

As part of that plan, they have reshuffled the management of Kist. CEO of Sanima Bank Kumar Lamsal has been hired as the CEO of Kist while CEO of Prabhu Bikas Bank has joined Kist as his deputy.

Kist Bank’s share trading resumes

After a hiatus of nine months, share trading of Kist Bank Limited has resumed from today. This has come as a huge respite to hundreds of share traders who have invested in Kist Bank’s shares.

Trading of the shares of Kist Bank was suspended by the NEPSE after Kist signed a Memorandum of Understanding with Vibor Bikas Bank for the merger of the two BFIs back on March 21, 2013.

Siddhartha Development Bank SDBL, Vibor sign an agreement to work together

Siddhartha Development Bank Ltd (SDBL) inked an agreement on Thursday with Vibor Development Bank to increase the reach of customer services for its SDBL Trust Remit services the thorough out the country. According to a statement issued by SDBL on Thursday, SDBL clients can now use six of Vibor Bank’s branches. Mahesh Sharma Dhakal, the chief executive officer of SDBL, and Jhalak Prasad Khanal, the chief executive officer of the Vibor, signed the agreement representing their respective banks, SDBL said.
Src : Republica