Nabil Bank has formally moved ahead with the process of acquisition of Nepal-Bangladesh. Nabil & Nepal Bangladesh bank both have formed a merger committee to carry the process further ahead. For this, both the banks have reached an informal agreement and started the process on their own behalf.

Nabil Bank has given the responsibility to the merger committee formed earlier under the coordination of Uday Krishna Upadhyaya. But Nabil bank sources said that “We are not in favor of the merger now, but for the acquisition.”

Now that the issues have been discussed and both the organizations have formally taken the process forward. IFIC Bank of Bangladesh, the main shareholder of Nepal Bangladesh Bank, is about to exit by selling all its shares. According to sources, Nabil Bank is going to acquire Nepal Bangladesh bank by buying all the shares of IFIC and some remaining shares. As per the agreement, it is planned to sign a memorandum of understanding (MoU) within a week. However, the final decision will be made only after conducting a comprehensive asset and liability study (DDA).