IFIC Bank of Bangladesh exits from Nepal Bangladesh Bank

KATHMANDU: IFIC Bank Limited, Bangladesh, is set to exit from Nepal Bangladesh Bank (NBB). The IFIC Bank is preparing to sell stake in the joint-venture bank.

NBB informed that it has submitted application at Nepal Stock Exchange (Nepse) to sell 36,827,426 unit shares of its Bangladeshi partner. The NBB has already approved decision of IFIC Bank to leave NBB.

IFIC Bank has 40.09 percent shares in NBB. NBB informed that a 35-day public notice will be published soon, inviting the promoter shareholders to purchase the shares of the IFIC Bank.