Rastriya Banijya Bank (RBB) is merging NIDC Development Bank into it. Following an official agreement regarding the merger, the share trading of NIDC has been suspended in the capital market.
RBB has paid-up capital of above Rs 8 billion whereas NIDC that has issued nearly one percent share to general investors has paid-up capital of Rs 415.8 million. NIDC has a reserve fund of Rs 3.26 billion.
The bank earned a net profit of Rs 213.9 million during the last FY.