Mega Bank and Tourism Development Bank merger finally complete; to start joint transaction from Baisakh 30

Mega Bank Nepal Limited (MEGA) and Tourism Development Bank Limited (TDBL) are all set to start their joint transaction in the name of Mega Bank Limited from Baisakh 30, 2075.

The acquisition of the development bank by Mega Bank had received final approval from Nepal Rastra Bank on Baisakh 09, 2075 and from the Office of Company Registrar on Baisakh 12, 2075.

For this the banks will be interrupting many of its services like Extended Banking Services on Baisakh 28 and Holiday Counter facility on Baisakh 29. Along with these, the ATM of Tourism Development Bank will be out of function after the banking hours of Baisakh 28 till Baisakh 30.

The merger has been finalized at Rs. 100 per share of Mega Bank and Rs. 95 per share for Tourism Development Bank.

It will have around Rs 10.5 billion paid up capital, 2.33 billion reserves, 1000 employees, 102 branches and 22 extension counters spread around all the provinces after the merger.