IFIC Bank to sell its stake of Nepal Bangladesh Bank at Tk 439 crore

IFIC Bank is set to sell its entire holding of Nepal Bangladesh Bank to a Nepalese national at Tk 439 crore.

Sarika Chaudhary, a resident of Kathmandu, will buy the stake of the bank at Nepalese Rupee 618.7 crore. One Nepalese rupee is equivalent to Tk 0.71.

The listed lender decided to sell its entire promoter shares of Nepal Bangladesh Bank, IFIC Bank said in a disclosure posted on Dhaka Stock Exchange (DSE) website today.

It would complete the sale after taking approvals of Nepal Rastra Bank and other regulatory authorities, the bank said.