Share trading of Nepal Investment and Mega Bank halted
Due to the merger decision, share trading has been temporarily halted.
KATHMANDU: The Nepal Stock Exchange has halted trading in shares of Nepal Investment Bank and Mega Bank. After the two banks decided to merge, trading in their shares was halted.
Due to the merger decision, share trading has been temporarily halted. Tulsiram Pokharel, Mega Bank’s Company Secretary, announced that an agreement to merge Mega Bank and Nepal Investment Bank was signed at the 360th meeting of the Board of Directors on June 10.
NEPSE has been asked to halt trading as a result of the same decision. Following the merger of the two banks, it will become the largest bank. Following the merger, the bank’s name will be Nepal Investment Mega Bank.
Secretary Pokharel stated that they will be ready to conduct integrated business by the end of Ashoj (Sept/Oct). The bank formed by the merger of these two banks will have a total paid-up capital of Rs. 32.81 billion.
