Trading of OM Development bank has been suspended due to the acquisition process with Prime Commercial Bank Ltd.
Yesterday, prime bank & OM development have signed memorandum of understanding under which development bank will be acquired by prime bank later. Agreement was signed by chairman of Prime Commercial Bank Mr. Udaya Mohan Shrestha and chairman of Om Development Bank Mr. Sushil Kumar Gosali.
The Swap ratio is not fix now, MOU is silent about the Swap ratio. It will be fixed after the Due Diligence Audit (DDA) of both banks.
The commercial bank can take benefit of rural networks of development bank after acquisition.
After the acquisition, paid up capital will reach around 10 arba, deposit will cross 1 kharba. Branch network will be 116.
