June 9: Sana Kisan Bikas Laghubitta Bittiya Sanstha Limited and RMDC Laghubitta Bittiya Sanstha Limited have received final approval from the Nepal Rastra Bank for their merger.
The Nepal Rastra Bank granted the long-awaited final approval for the merger of these two companies on June 7,2023. The NRB decision sets the stage for the collaboration between two microfinance companies in Nepal.
The groundwork for the merger was laid months ago when Sana Kisan and RMDC Laghubitta signed a memorandum of understanding on September 16, 2022. Sana Kisan and RMDC have agreed to merge at a swap ratio of 1:0.87.
It is expected that the merged entity will deliver quality services and support to its clients.