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Kathmandu, Nepal, August 1, 2022: Prabhu Bank Limited (PRVU) has acquired the Century Commercial Bank Limited (CCBL). Both the banks have made agreement to this effect on Sunday.
As per the initial agreement Share swap ratio of will be 1:1. Likewise, four members of the seven-member board of directors will be from Prabhu Bank and three from the current Century Bank.
Similarly, Prabhu Bank's current CEO Ashok Sherchan will continue as the Chief Executive Officer (CEO) of the newly merged bank.
