Jyoti Bikas Bank’s SGM Held

May 15: Jyoti Bikas Bank has conducted a special general assembly (SGM) for merger. Dhurba Koirala, Chairman of the bank presented a special report on the merger of Hamro Bikas Bank of Nuwakot and Jhimruk Bikas Bank of Pyuthan.

Jyoti Bikas Bank and Hamro Bikas Bank signed a merger deal on last December. Similarly, Jyoti and Jhimruk Bikas Bank inked a merger agreement on January. Jyoti Bikas Bank conducted the assembly regarding the final acceptance of the merger process.  

The new entity formed after the merger of three institutions will be named Jyoti Bikas Bank and will be headquartered at Kamaladi, Kathmandu. Similarly, the share ratio will be 1:1 for all three banks.