Merger process of Mega Bank & Paschimanchal Bikas Bank finally gets final approval from NRB after 14 months of MoU

The merger process of Mega Bank Limited (MEGA)  and Paschimanchal Bikas Bank Limited (PDBL) has been completed. The BoD meeting of Nepal Rastra Bank (NRB) held on Tuesday (Chaitra 23) provided the final approval to the merger process of Mega Bank and Paschimanchal Bikas Bank. Mega Bank had signed a memorandum of understanding with Paschimanchal Bikas Bank for merger on 28 Januray, 2015 and it took more than a year to complete the merger process. The merged entity will function as Mega Bank Limited. Dipendar Agrawal , BoD member of Mega Bank said, "the joint operation will start form Baishak 2 and the trading is likely to start by the third week of Biashak."