Trading in shares of Nepal Investment Bank and Mega Bank has been suspended on the Nepal Stock Exchange. The two banks have decided to merge. Trading in shares has been suspended for the time being due to the decision to merge.
According to Tulsiram Pokhrel, Company Secretary of Mega Bank, the 360th meeting of the Board of Directors on June 10 signed an agreement to merge Mega Bank and Nepal Investment Bank.
Nepse has been requested to stop trading on the basis of the same decision. When the two banks merge, it will become the largest bank. It is said that the name of the bank will be Nepal Investment Mega Bank after the merger.
Preparations have been made to conduct integrated business by mid-October. The total paid-up capital of the bank to be formed after the merger of the two banks will be Rs. 32.81 billion.
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