Nepal Rastra Bank provides final approval to 5 BFIs for merger; LOI to two institutions 

Nepal Rastra Bank has provided merger approval to 9 Banks and Financial Institutions (BFIs). A BoD meeting held on Monday has provided approval for merger and acquisitions. Rastra Bank has provided final approval for merger to five institutions and provided LOI to two institutions. NRB has provided LOI to Sunrise Bank to buy Narayani National Finance. Likewise LOI has also been provided for Civil Bank Limited to merge with International Leasing and Finance. The board has provided final approval to merge Metro Development Bank and Nepal Express Finance to Kailash Bikas Bank. Shine Resunga Development Bank and Gaumukhee Bikas Bank have also received final approval for merger from NRB. The Banks and Financial Institutions that have received final approval has completed all other processes. These Banks and Financial Institutions are in the phase of getting registered in Company Registrar Office and starting joint operation.