Muktinath Bikas Bank to Acquire Janaki Finance and Sindhu Bikas Bank

Muktinath Bikas Bank Limited (MNBBL) is set to acquire Janaki Finance Limited and Sindhu Bikas Bank Limited.

The boards of directors of all three institutions decided on the acquisition at separate board meetings held on Bhadra 19. Following the decision, Janaki Finance and Sindhu Bikas Bank have signed preliminary agreements with Muktinath Development Bank to proceed with the acquisition.

Trading of shares held by the promoter shareholders of the two target institutions has been suspended following the agreements.