Kathmandu Finance & Gurkha Development Bank to start joint operation from Chaitra 28 as Gurkha Finance

The merger process of Kathmandu Finance Limited (KFL) and Gurkha Development Bank Limited (GDBNL) has been completed. Nepal Rastra Bank had given the final approval for the merger of Kathmandu Finance and Gurkha Development Bank on Chaitra 3, 2072. The merged entity is named Gurkhas Finance Limited. The merged entity will be starting its integrated business from Chaitra 28, 2072. Kathmandu Finance issued 1:1 right share to hike the paid up capital before the merger. Kathmandu Finance had a paid up capital of Rs. 36.75 crore after the issuance of paid up capital. Before the merger the paid up capital of Gurkha Dvelopment Bank was Rs. 19.82 crore.