Citizen’s Bank to acquire Premier Finance

March 24: Citizen’s bank seeks final approval from NRB to acquire Premier finance on Wednesday. NRB granted intent letter to the bank to precede acquirement six months earlier.

Citizen’s bank is acquiring Premier finance’s share at the rate of Rs. 28 per share. Premier finance has paid up capital of Rs. 120 million that will boost Citizen bank’s paid up capital by Rs. 30 million after acquirement.  Paid up capital of the bank will increase up to Rs. 3.9 million from Rs. 3.65 million after settlement of acquiring process.