Joint Transaction of Mega Bank and Nepal Investment Bank to Start From Poush 27

The final procedure for a merger between Mega Bank Nepal Limited (MEGA) and Nepal Investment Bank Limited (NIB) has been completed. The company had signed a merger deal at a swap ratio of 100:90, implying that the number of MEGA shareholders will decrease by 10%.

"Nepal Investment Mega Bank Limited" has been agreed upon as the name of the new bank that will be formed as a result of the merger. NIB and MEGA had agreed to merge on Jestha 27.

Likewise, in accordance with the letter from Nepal Rastra Bank and the Office of the Registrar of Companies, the merger has also gained final permission.

Additionally, Mega Bank and Nepal Investment Bank will halt all banking services for Poush 25 and Poush 26 in order to migrate data in preparation for the start of the joint business of the two institutions on Poush 27 i.e January 11, 2023.

The paid-up capital of NIB at the present is Rs. 18.3 Arba. Meanwhile, the paid-up capital of MEGA is Rs. 16.1 Arba. The total paid-up capital of the newly merged company will be Rs. 32.81 Arba.

Immediately after the joint operation, there will be 295 branches. The bank will also have 271 ATM terminals, 46 extension counters, and 118 branchless banking points. Also, there will be 10 revenue collection counters in the bank. 

NIB and Mega bank also declared dividends of 11% and 7.79% respectively for the Fiscal Year 2078/79. 

Merger Highlights