Big merger still a far cry! Mega Bank decides to acquire National level Gandaki Bikas Bank unlike popular expectation of Mega merger

Mega Bank has signed a MoU with an aim to acquire Gandaki Bikas Bank. The MoU that outlined the acquisition process in principle was signed between chairman of Mega Bank Mr. Bhoj Bahadur Shah and his counterpart at Gandaki Bikas Bank Mr. Sushil Gauchan amid a program on Wednesday.

As per the financial reports of both banks until the end of the FY 2075-76, the combine deposit collection stood at Rs 1.12 kharba, credit disbursement of Rs 98 arba, and 191 branches.