Mega Bank & Paschimanchal Dev. Bank commenced joint transactions

Mega Bank Nepal Limited and Pashchimanchal Development Bank Limited has started joint transactions from yesterday ( Baisakh 13,2073). Publishing a press statement, Mr.Bhoj Bahadur Shah, Chairman of Mega Bank Nepal Limited said,’ Pashchimanchal Development Bank Limited’s 14 branches have merged with Mega Bank and started joint transactions.’ The swap ratio was finalized at NPR 104.25 per share for Mega Bank Nepal Limited and NPR 67.00 per share for Pashchimanchal Development Bank Limited added Mr. Shah. On the occasion, Mr. Anil Keshary Shah, CEO of Mega Bank Nepal Limited said, ‘This is the beginning of the institution moving forwards to a regional structured system and committed to establish regional centers in all regions of the nation in the imminent future. “With this merger the road ahead for further mergers of Mega Bank Nepal Limited is been cleared.” Mr. Shah added. ‘The first regional center of the bank has been established in Butwal and Rupandehi, Nepal with the ethos of inclusive banking for the entire nation and to further the bank’s accessibility in the Western region of the nation’. Added Mr. Shah After addition of 14 branches of Pashchimanchal Development Bank Limited, the total branch of Mega Bank Limited has now reached 44. With this merger Mega Bank Nepal Limited is now able to extend its service delivery network to areas of Palpa, Nawalparasi, Kapilvastu and Syangja districts in the Western region of our nation. With this merger Mega Bank Nepal Limited has capital fund of NPR 3.24 billion, deposit of NPR 31 billion and credit portfolio of NPR 25.5 billion. It has now 44 branches, 53 Branchless Banking outlets, 45 Mega Money Machines, 1350 Mega Remittance Centers and one extension counter.