Himalayan Bank commences joint operation

KATHMANDU, FEBRUARY 26 : Himalayan Bank Limited (HBL) has commenced its joint operation as “Himalayan Bank Limited” after successfully acquiring Civil Bank Limited (CBL). Prachanda Bahadur Shrestha, Chairman, HBL announced the commencement of joint operation amidst a ceremony held on February 24 in the caital.

After acquiring CBL, the Authorized Capital, Paid-up and Issued Capital, Total capital and Total Assets of the Bank stand at Rs. 26 Billion, Rs. 21.65 Billion, Rs. 34 Billion, and Rs. 334 Billion respectively whereas the total Deposit and Loan stand at Rs. 274 Billion and 250 Billion respectively.
Likewise, the newly formed bank has a total of 189 Branch Offices, 20 Extension Counters, and more than 263 ATM Booths spread all over Nepal.

Addressing the ceremony, Chairman, of HBL, Shrestha said that the acquisition of CBL has been done considering the current financial situation of the country and the potential for market expansion, investment environment, and overall development of the Bank.

Similarly, Pradip Jung Pandey, Chairman, of CBL, stated that the unity of both the Bank is one of the industry's most efficient and capable bank. The CEO, of HBL, Mr. Ashoke SJB Rana said that HBL has become one of the most efficient and extensive banks in the country. He added that the Bank shall focus on providing maximum returns to the investors and offer products and services based on
latest technology.

Ujjal Rajbhadary, GM, HBL, thanked all the regulators, Late Himalaya S. Rana, the Board of Directors, and all the institutions and individuals who contributed and assisted the acquisition process.

Post-acquisition, the current Board of Directors of HBL including the chairman, Mr. Prachanda B. Shrestha will continue as the BOD and the Chairman. Likewise, Mr. Ashoke SJB Rana, CEO of, HBL shall continue to remain as CEO of HBL. HBL has acquired CBL at a 1:0.8028 swap ratio.