Kathmandu. Nepal Rastra Bank (NRB) has approved the sale of its stake in Himalayan Bank to National Life Insurance Company (NLIC). With the approval of Nepal Rastra Bank, National Life can now buy shares of the bank.

Pakistan’s Habib Bank has sold its stake in Himalayan Bank. The shares were bought by National Life. For this, approval was required from the Nepal Rastra Bank. Nepal Rastra Bank (NRB) has sent a letter to Himalayan Bank asking it to sell its shares.

National Life Insurance Company (NLIC) on August 29 signed an agreement to acquire shares in Himalayan Bank (HIB) of Pakistan. The bank has issued a notice for the sale of shares at a minimum price of Rs 112.80 per share. However, the insurance company has bought the shares at Rs 118.80 per share.

National Bank has purchased 2,80,12,447 45 units of shares in Himalayan Bank. National bought Habib’s shares at Rs 118.88 per share. National has invested Rs 3.16 billion in Habib’s shares.

Integrated Directive 2081 issued by Nepal Rastra Bank. According to Section 10, the first priority should be given to the promoter shareholders to buy the promoter shares. Habib Bank holds 12.93 percent stake in Himalayan Bank, while National Life holds 1.25 percent stake.