Another beacon of hope among Class B banks; Tinau Mission Development Bank completes acquisition of Nepal Community Development Bank aiming to expand as national level development bank

Tinau Mission Development Bank has begun joint operation with Nepal Community Development Bank after the successful acquisition of the later from Mangsir 22, 2076.

Earlier, Tinau and Mission Development Banks had entered into merger and began joint transaction from Asad 31, 2076.

Following the merger, the paid up capital of the new development bank stands at Rs 1.67 arba, has deposit collection of Rs 14.14 arba, loan disbursement of Rs 12.67 arba, and 62 branches.

The newly revamped institution has Mr. Tikaram Ghimire as chairman, Mr. Pradip Kumar Shrestha as CEO and Mr. Hari Prasad Ghimire as DY CEO, as per the statement.

Tinau Mission Development Bank is moving forward with an agenda to becoming a national level development bank for which the bank may either issue right shares or enter into further merger/acquisition process with other institutions, as per the media statement.