Vibor & Society Dev Bank joint operation to start from today as Vibor Society Dev Bank

Nepal Rastra Bank had given the final approval for the merger of Vibor Bikas Bank Limited and Society Development Bank Limited on Bhadra 5, 2073. The joint operation of both companies is starting from today (Bhadra 17, 2073). The new entity is named as Vibor Society Development Bank Limited, and will start the integrated business. After the merger, the central office of the development bank will be in Dillibazar, Ward no.33, Kathmandu Metropolitan City. The paid up capital of Vibor Bikas Bank stands at Rs 91.70 crore. The development bank had earned a net profit of Rs. 20.37 crore in the fourth quarter of the last fiscal year. The paid up capital of Society Development Limited stands at Rs 89.79 crore .It earned net profit of Rs 20.05 crore  in the Q4 of the fiscal year 2072/73.