Gandaki Bikas Bank’s SGM approves merger with Fewa Bikas Bank

Gandaki Bikas Bank has conducted a Special General Meeting on Poush 29, 2073 and endorsed its merger with Pokhara-based Fewa Bikas Bank at a 1:1 swap ratio. The bank will now head to NRB for final approval. As per a press statement, the name of the merged company will be “Gandaki Bikas Bank”. The capital of the company will reach Rs 1.84 crore with 50 branches and 20 ATMs. The joint company will have more than 2 lakh customers with a total deposit of Rs 17.68 arba and loans over Rs 15.50 arba. The merged company will be a national level development bank with the most number of branches, added the statement.