Janata Bank to acquire Siddhartha Development

April 11: Janata Bank is set to acquire Siddhartha Development Bank. The bank, few days earlier, merged Tribeni Bikas Bank into it and started joint transaction. “With the acquisition, the paid-up capital of Janata Bank will reach Rs 8 billion,” said the bank in a press statement. After the merger with Tribeni Bikas Bank, the paid-up capital of Janata had reached Rs 5 billion. Keshav Bahadur Rayamajhi, Chairman of Janata and Ram Bahadur Bhandari, CEO of Siddartha Development signed an agreement regarding the acquisition on April 7.