Kathmandu: Nabil Bank and Nepal Bangladesh Bank have started joint operations from Monday in the name of Nabil Bank Limited.
Class ‘A’ licensed Nabil Bank Limited has acquired Nepal Bangladesh Bank Limited with the permission of Nepal Rastra Bank. With this acquisition, Nabil Bank has now taken over the entire assets and liabilities of Nepal Bangladesh Bank and has become the largest financial institution in the country, Nabil Bank said in a press release.
“After discussing the need and justification for acquisition, we have taken steps to further enhance the public’s trust in the bank, taking into account the needs of the overall banking system,” said Chief Executive Officer Gyanendra Prasad Dhungana.
He added that an understanding has been reached between the two banks with the objective of taking the lead in nation-building by expanding and strengthening the esteemed institutions that have been playing a leading role in Nepal’s financial sector.