Nepal Investment Bank Limited (NIBL) and Mega Bank Limited have launched integrated transactions following a merger. The two banks merged as ‘Nepal Investment Mega Bank (NIMB) Limited’ and announced the commencement of joint operations amidst a programme here today.
The total paid up capital of the banks after a merger is Rs 34.12 billion while the total assets are worth of Rs. 471 billion and the total capital is calculated at Rs. 580 billion. Likewise, the total deposit is Rs 360 billion and the total loan is Rs 329 billion, it is said.
The merged entity has 296 branches, 59 extension counters, 279 ATM booths and over three million customers.
The banks merged at 100: 90 share swap ratio and chair of the Investment, Prithvi Bahadur Pande, now is also the chair of the NIMB and Jyoti Prakash Pandey is the CEO. The new Board of Directors has the representations of both banks. Prajanya Rajbhandari and Kabi Kumar Tibrewala represent the NIBL while Gopal Khanal, Madan Kumar Acharya and Mukti Ram Pandey represent Mega.
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