Three microfinance institutes join hands to become much bigger and much better; Mirmire, Nagbeli and Kisan merging into a single unit  

NRB has been encouraging microfinance institutes to get into merger process in order to reduce their numbers and build a stronger foundation. In the same process, three microfinance institutes namely Mirmire Laghubitta Bittiya Sanstha Limited (MMFDB), Nagbeli Laghubitta Bikas Bank Limited (NBBL) and Kisan Microfinance Bittiya Sanstha Limited (KMFL) have agreed to be merged.

The purpose of this merger is to portray a reliable brand image of the institute to the customers and attain the financial and management goals. Chairman of Mirmire; Mr. Tek Bahadur Bohara, Chairman of Nagbeli; Mr. Deep Bahadur Shrestha and Chairman of Kisan; Mr. Netra Prasad Joshi have signed the merger agreement.

NBBL’s net profit increased to Rs 2.12 crore, KMFL’s to Rs 1.32 crore and MMFDB’s to  Rs 3.59 crore in the third quarter of FY 2075/76.