Special general meeting of Prabhu Bank approved merger with Grand Bank

Kathmandu November 2-  On Saturday  October 31, special general meeting of Prabhu Bank  took place under the leadership of Devi Prakash Bhattachan, Chairman of the bank, which approved the proposal of merger with Grand Bank.

Based on the evaluation of assets and liabilities of both bank, Prabhu Bank's share price has been valued Rs. 121.45 and Grand Bank's share price has been valued Rs. 65.58. Merger of the bank will base on the ratio of share value of each bank.

Similarly, general meeting also provided authority to board of directors relating to required rectification in letter of administration & terms and conditions and also to act according to the directions of the regulatory bodies.  Source: Aviyan