Bank of Kathmandu & Lumbini Bank joint transaction to start from Ashad 30 as Bank of Kathmandu Lumbini Limited

Nepal Rastra Bank has given the final approval for the merger of Lumbini Bank Limited (LUBL) and Bank of Kathamandu Limited (BOK) on Ashad 24, 2073. The joint operation of both banks will start from Ashad 30, 2073. The merged entity will be named as Bank of Kathmandu Lumbini Limited, and will start the integrated business. After the merger, the central office of the bank will be in Kamalpokhari, Ward no.1, Kathmandu Metropolitan City. The paid up capital of Bank of Kathmandu stands at Rs 2.67 arba. The bank had earned a net profit of Rs. 48.35 crore in the third quarter of the current fiscal year. The paid up capital of Lumbini Bank Limited stands at Rs 2 arba in the 3^rd quarter of the fiscal year 2072/73. The bank had earned net profit of Rs 27.79 crore in the Q3 of the fiscal year 2072/73.