KATHMANDU, July 4: The proposed acquisition of Nepal Bangladesh Bank (NBB) by Nabil Bank has moved a step forward and the two banks are going to carry out integrated transactions from July 11.
Issuing a public notice on Monday, both the banks have consented to start their joint transaction effective from the aforementioned date. The board meetings of both the banks that were held separately on Sunday consented to start the integrated financial transactions as a single entity.
A step forward, but not enough
The acquisition process had fallen into uncertainty following the controversies over the adjustment of manpower of the two banks. After receiving the final approval from Nepal Rastra Bank last week and solving the adjustment of the human resource concerned, these commercial banks have expedited the acquisition process.
