NMB Bank completes merger process with Pathibhara, Prudential, Bhrikuti and Clean Energy ; Joint operation from Kartik 1

NMB Bank has got approval from Nepal Rastra Bank for the merger of five financial institutions at a single time on Ashwin 12, 2072. NMB Bank Limited, Pathibhara Bikash Bank Limited, Bhrikuti Development Bank Limited, Prudential Finance Company Limited and Clean Energy Development Bank Limited had entered into a merger process a year ago and finally the merger process is completed. The name of the merged entity will be NMB Bank Limited which will start the joint operation form Kartik 1, 2072 in a formal way. After the merger, the paid up capital and reserve will increase by Rs 6.2 arba and the deposits and loan and advances will be Rs 54 arba and Rs 41 arba respectively. Likewise the number of commercial bank’s branches will be 68 with 38 ATM and 8 extension counters. Yong Lian-Malaysia International and FMO (Financierings Maatchappij-Voor Ontwikkelingslanden) Netherland, the international partners of the bank are also important aspects of the bank’s merger process.