Final agreement of NIBL & Mega Bank merger
The final merger agreement was approved and signed by the boards of directors of both banks.
KATHMANDU: Nepal Investment Bank Limited (NIBL) and Mega Bank have agreed to merge. Today marked the completion of the final merger agreement.
The final merger agreement was approved and signed by the boards of directors of both banks. The road to the merger of the two banks has been completed with the approval and handover by the directors of both banks.
Nepal Rastra Bank has set a Jan 6 deadline for the merger of Nepal Investment Bank and Mega Bank. Gopal Khanal, the owner of Mega Bank and a member of the merger committee, informed the National Bank that they are preparing to merge and do integrated business within the time frame set by the bank.
A merger agreement was signed between Nepal Investment and Mega Bank on June 10 last year.
A merger agreement has been signed between the two banks with a swap ratio of 100:90. The two banks have agreed that one share of Investment Bank is equal to 0.90 share of Mega Bank.
Nepal Investment Bank’s paid-up capital is currently 18.31 billion, while Mega Bank’s is 16.12 billion.
Following the merger of the two banks, the bank’s paid-up capital will be Rs 34.43 billion. The president of the organization formed by the merger will be Prithvi Bahadur Pandey and Chief Executive Officer Jyoti Pandey. The institution’s name will be Nepal Investment Mega Bank.
