Laxmi Bank’s Special General Meeting (AGM) was held today 18 th June 2023 at Kathmandu.

The SGM approved the special proposal of merger between Laxmi Bank Limited and Sunrise
Bank Limited at a share swap ratio of 1:1. The meeting also ratified the Final Merger
Agreement and approved necessary amendments in the Bank’s Article of Association and
Memorandum of Association to incorporate the increment in capital and change in structure
of Board of Directors post the merger.

The Bank plans to start joint operation within the current fiscal year following final
approvals from Nepal Rastra Bank and the Office of the Company Registrar.