Prabhu-Century Bank merger 

KATHMANDU: Century Commercial Bank and Prabhu Bank reached a merger agreement on Sunday.  The merger deal of the two leading commercial banks was signed at the meeting of a joint merger committee representing both banks. It has been agreed that the name of the bank after the merger will be Prabhu Bank and Ashok Sherchan, Prabhu Bank’s Chief Executive Officer will continue his position.  Both the banks have agreed to merge at a swap ratio of 1:1.