Century Bank to acquire Seti Finance

June 1: Century Commercial Bank is acquiring Seti Finance, headquartered at Tikapur of Kailali. Both institutions signed a memorandum of understanding (MoU) regarding the matter on May 31.

The finance having Rs 152.6 million paid-up capital earned Rs 15.4 million operating profit by the end of the third quarter of the current FY. Meanwhile, Century Bank is starting the joint transaction after acquiring Innovative Development Bank and Arniko Development Bank.