Kathmandu, 7 January: After the merger between Nepal Investment Bank Limited (NIBL) and Mega Bank, joint operation will be started from January 11 under the name of Nepal Investment Mega Bank Limited.
“All banking services of both NIBL and Mega bank will be closed on January 9 and 10 for data migration to start joint operation after the merger of banks,” said the bank in a notice released on Friday.
The NIBL’s paid-up capital is Rs 18.31 billion whereas Mega’s is Rs 16.2 billion. The NIBL has a loan portfolio of Rs 173.46 billion while Mega has loans of of Rs 150.46 billion. Deposit collection of NIBL stands at Rs182.01 billion and Mega’s deposit it to the tune of Rs 152.08 billion.
Prithvi Bahadur Pande will be the Chairman and Jyoti Pandey the Chief Executive Officer of Nepal Investment Mega Bank Limited.
People’s News Monitoring Service
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