Tourism Development Bank to acquire Matribhumi Bikas Bank; Also announces 16% stock dividend

Kathmandu December 4- Tourism Development Bank Limited (TDBL) will be acquiring Matribhumi Bikas Bank Limited (MTBL). Both the banks have signed a Memorandum of Understanding on December 3. The trading of shares of Matribhumi Bikas Bank will be stopped in Nepal Stock Exchange Limited from Sunday.

Tourism Development Bank Limited (TDBL) has announced 16% stock dividend and 0.84% cash dividend (for tax purpose) from the profit earned in the last fiscal year.

According to 4^th quarter report, TDBL has a paid up capital of Rs 678.4 million after the issuance of bonus share it’s paid up capital will reach to Rs 786.9 million. Its deposit collection stands at Rs 6.19 billion and loan mobilization of Rs 5.11 billion.

According to 1^st quarter report MTBL has a paid up capital of Rs 48.4 million, reserve of Rs 18.6 million. It has deposit collection of Rs 416.5 million and loan mobilization of Rs 265.8 million.