Nepal Investment Bank and Mega Bank begin joint operation after successful merger; revamped Bank to create synergy with Rs 34.12 Arba of paid-up capital and hundreds of banking network

Nepal Investment Bank and Mega Bank have begun a joint operation in the name of Nepal Investment Mega Bank Limited following their successful merger on Poush 27, 2079.

The joint transaction was initiated by the chairman of then Nepal Investment Bank Mr. Prithvi Bahadur Pande and chairman of then Mega Bank Mr. Bhoj Bahadur Shah amid a program. The new bank will have Mr. Prithvi Bahadur Pande as chairman and Mr. Jyoti Prakash Pandey as the CEO while the board constitutes Mr. Prajanaya Rajbhandary, Mr. Kabi Kumar Tibrewala from then Nepal Investment Bank while Mr. Gopal Khanal, Mr. Madan Kumar Acharya and Mr. Muktiram Pandey from then Mega Bank while Ms. Manju Basnet is currently serving as an independent BoD, as per the media statement.

After the merger, the revamped institution will have a paid up capital of Rs 34.12 arba, core capital of over Rs 58 arba, net asset value of Rs 4.71 kharba, total deposit of Rs 360.2 arba, loans of Rs 329.06 arba, 30 lakh plus customers, 296 branches, 59 extension counters, 109 branchless banking units and 279 ATM outlets across the nation.