Proposal of Vibor-Society Merger Approved

May 4: The merger proposal of Vibor Bikas Bank and Society Development Bank has been approved. The special general meeting held on Tuesday also endorsed the proposals of renaming the merged entity as Vibor Society Development Bank and valuation of the shares of both banks in the proportion of 1:1. The paid-up capital of the bank after merger will exceed to Rs 1.80 billion. The Bank has planned to merge with another organisation for insufficient paid up capital.