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.
Chairman of Triveni Bikas Bank, Lanka Bdr. K.C informed that after the successful merger the bank will be upgraded to National level development bank with a paid up capital of approx. Rs.660 million.
The Paid-up capital of Triveni Bikas bank is Rs 37.01 crore, reserve and surplus Rs 9.32 crore, net profit Rs 5.14 crore, EPS stands Rs 19 per share and the net-worth of the company is Rs 125 as per the third quarter financial report of the company. The closing price as per today is Rs 266 per scrip.
Likewise Bright Development Bank has paid-up capital of Rs 14 crore, reserve and surplus is Rs 2.83 crore, profit is Rs 7.04 lakh, EPS is Rs 5.03 and the net-worth of the company is Rs 120.28 as per third quarter financial report of the company. The closing price as per today is Rs 138.
Lastly, Public Development Bank’s paid-up capital is worth Rs 15.17 crore, reserve and surplus is Rs 1.87 crore, profit is Rs 1.23 crore, Annual EPS is Rs 10.84 and the net-worth of the company is Rs 118.96 as per third quarter financial report of the company. The closing price as per today is Rs 185.- SSN
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