Nepal Investment – Mega Bank merger completion likely in January 2023
Kathmandu, December 22. Nepal Investment Bank Limited (NIBL) on Thursday held its 36th annual general meeting.
The bank is currently engaged in a merger procedure with Mega Bank, the board of directors announced during the meeting.
Nepal Rastra Bank (NRB) has given the deadline date of January 6, 2023, for the two banks to complete the merger procedure. “Following the completion of the merger procedure, we will begin merged transactions,” the bank stated.
Earlier in November, the two banks had signed a final draft of a Memorandum of Understanding (MoU), exchanged the documents, and decided to go through a merger procedure.
An announcement was made that the joined (merged) institution will be known as Nepal Investment Mega Bank, and Prithvi Bahadur Pande and Jyoti Pandey will serve as its chair and CEO.
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