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Mega Bank emerges as third largest bank

By Our Reporter
After Tourism Development Bank merged with Mega Bank on 13 May, Mega Bank has emerged as the third largest bank in the country.
At the merger function organised on Sunday, Dr Chiranjeevi Nepal extended best wishes for the success of Mega Bank.
At the function, Bhoj Bahadur Shah, chairman, Mega Bank informed that all 36 branches, all extension counters, ATM networks will be operated under the Mega Bank.
He informed that shareholders of Tourism Development Bank will receive Mega Bank’s share at the ration of 1 : 0.95 (swap ratio). Earlier, Pashimanchal Development Bank had merged with Mega Bank.
The chairman said, “Today, I am very much happy as Mega Bank has emerged as the third largest bank in the country”.
Mega Bank has not expanded to 49 districts from previous 39 districts.
The Bank is planning to open its headquarters in all seven provinces, the chairman said.
Bank’s director and coordinator of the joint merger committee, Gopal Khanal said that Mega Bank is emerging as the best bank in the country considering paid-up capital, networking, capability and professional competition.
Bank’s chief executive officer Anupama Khunjeli said that the Bank’s branches have reached to 91 and the Bank is planning to open additional 17 branches following the government policy of providing banking facilities in all the local bodies.
After the merger, the Bank’s paid-up capital has reached to 9 billion 290 million rupees.

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