Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: The long-awaited merger agreement between Himalayan Bank and Nepal Investment Bank will take place today.
As the meeting of the board of directors of the two banks has passed the merger agreement proposal and the two banks will ink merger agreement today at Aloft hotel. The swap ratio is estimated to be around 1:1 as agreed by both NIBL and HBL.
Chief Executive Officer (CEO) of Himalayan Bank Ashok Rana, on Wednesday, wrote an email to the top management officials of the bank informing that they are going to merge with NIBL.
Prithvi Pandey, chairman of Nepal Investment Bank, will be the chairman of the merged entity, while Ashok Rana, chief executive officer of Himalayan Bank, will be the CEO. NIBL CEO Jyoti Pandey will be the deputy CEO at the merged entity with some special designated responsibilities.
The merged entity will be named Himalayan and Nepal Investment Bank.
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