Laxmi Bank’s Special General Meeting

 Kathmandu, June 18. Laxmi Bank’s Special General Meeting (AGM) was held today 18^th June 2023at Kathmandu.The SGM approved the special proposal of a merger between Laxmi Bank Limited and Sunrise Bank Limited at a share swap ratio of 1:1.

The meeting also ratified the Final Merger Agreement and approved necessary amendments in the Bank’s Article of Association and Memorandum of Association to incorporate the increment in capital and change in the structure of Board of Directors post the merger.

The Bank plans to start joint operations within the current fiscal year following final approvals from Nepal Rastra Bank and the Office of the Company Registrar.