August 16: Deva Bikas Bank has announced to issue right shares in 2:1 ratio amid a special general meeting of the bank held on August 12. The bank is issuing the right shares in order to meet the minimum paid-up capital of Rs 2.50 billion as directed by NRB.

Deva Bikash Bank is the merged entity of former NDEP Development Bank and Rising Development Bank. After the right share issuance, the paid-up capital of the bank will reach Rs 1.32 billion. The meeting has decided to issue bonus share and proceed merger and acquisition process to meet the remaining paid-up capital.