Nepal Investment, Mega to merge

KATHMANDU, JUNE 12 : Nepal Investment Bank and Mega Bank have recently signed a Memorandum of Understanding (MoU) for the merger. President of Nepal Investment Bank, Prithvi Bahadur Pande and President of Mega Bank, Bhoj Bahadur Shah inked the MoU on behalf of their respective organization at a program held recently in the capital.

A new commercial bank that will be formed after their formal merger will be christened Nepal Investment Mega Bank Ltd. Currently, the paid-up capital of Nepal Investment Bank stands at Rs 18.31 billion while the same of Mega Bank is Rs 16.12 billion.   So, the new bank shall boast a total paid-up capital of Rs 34.43 billion, thus making it the financial institute with the largest amount of such capital in the country.

Pade and Shah both claimed that the proposed Nepal Investment Mega Bank Ltd. will take a lead in the Nepali financial market with a strong capital structure, efficient operations, and customer-centric culture.