NIBL and Mega bank to merge
Kathmandu, 10 June: The Nepal Investment Bank Ltd and Mega Bank Ltd are scheduled to ink a deal for a merger today.
After the merger, Prithivi Bahadur Pande will be the chairman and Jyoti Prakash Pande will be the chief executive officer of the merged bank.
The share value of the two banks will be fixed at NIBL’s 90 : Mega Bank’s 100 shares.
NIBL has a paid-up capital worth 18 billion 300 million rupees, whereas, Mega Bank has 16 billion 120 million rupees.
Earlier, NIBL and Himalayan Bank Limited had inked a deal for a merger but in the final hours, HBL had cancelled the deal.
People's News Monitoring Service
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