Joint venture of Himalayan Bank & Civil Bank begins

KATHMANDU: Himalayan Bank and Civil Bank have begins joint business from Friday.

Himalayan Bank has started integrated business by merging Civil.

Civil Bank has merged with 80.28 Himalayan Bank shares, for a total of 100 shares.

Following the merger, the established bank’s total capital has increased to 34 billion rupees.

Deposits totaled 2 trillion 74 billion rupees, while loans totaled 2 trillion 50 billion rupees. Himalayan Bank’s branch network now stands at 189, according to Chief Executive Officer Ashok Rana.

A preliminary agreement was signed between Himalayan Bank and Civil Bank on July 13.