UCB shares surge and NBL plunges over merger issue
Stocks
15 April, 2024, 02:25 pm
Last modified: 15 April, 2024, 02:31 pm
The decision for the merger between the two banks came at a meeting of the stakeholders on 9 April
Photo: TBS
Amid news of a merger between United Commercial Bank (UCB) and National Bank Limited (NBL), UCB shares surged while NBL plunged.
In the first trading session today (15 April) following the publication of the merger news, UCB shares rose by 0.88% to reach Tk11.50, while NBL stocks fell by around 6% to close at Tk6.50 each at the Dhaka Stock Exchange (DSE).
The decision for the merger between the two banks came at a meeting of the stakeholders on 9 April, officials of both banks told The Business Standard.
Bangladesh Bank Governor Abdur Rauf Talukdar chaired the meeting.
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