National Microfinance signs merger agreement with Summit Laghubitta; merged institution to have presence in 74 districts with 204 branches and 17 Arba plus credit portfolio

National Microfinance signed a merger agreement with Summit Laghubitta on Ashoj 26, 2079.

The share swap ratio of 100;82 has been fixed i.e., for every 100 units of Summit’s shares, the shareholders will get 82-unit shares of National. Mr. Keshav Prasad Acharya from National Microfinance will remain as the chairman of the merged institution while Mr. Ram Bahadur Yadav will remain as the CEO, as per the media statement.

The revamped institution will be known as National Summit Microfinance which will have a paid-up capital of over Rs 1 arba with more than 2 lakh customers, a credit portfolio of over Rs 17 arba, and will have a presence in 74 districts of the nation with 204 branches.