Laxmi and Everest Bank Merger : DDA Concludes , Swap ratio to be finalized soon

The Due Diligence Audit (DDA) work regarding the merger of two giant commercial banks has concluded. The work has been completed by a renowned audit firm "Ernst and Young" and the valuation result will be presented probably within next 15 days. 

A new team of the same audit firm will arrive this week and finalize the swap ration within a fortnight. In case of acceptable swap ratio, a big merger is sure to happen. However, a confirm news regarding the merger will be known by 15 days. 

If happens, the merger will be the biggest in Nepalese banking history. The merged entity will be gigantic in terms of Capital base, Reserve, Deposit collection, Customers base and the like. The reduction in company's staff and other operating expenses will maximize the profit, the return and ultimately the shareholders wealth. This could be a win-win situation for everyone, said the representative of laxmi bank previously.