Century Commercial Bank-Sagarmatha Finance Swap Ratio Approved

July 3: Century Commercial Bank has set the swap ratio at 1:0.95 to acquire Sagarmatha Finance.

Under this ratio, 100 shares of Sagarmatha Finance can be exchanged for 95 shares of Century Bank.

A special general meeting of the bank held on July 2 approved this swap ratio. After acquiring Sagarmatha Finance, Century Bank’s paid-up capital will increase by Rs 740 million.

Also, the final agreement to acquire Alpine Development Bank and Seti Finance has also been signed, the meeting informed.