Himal Press 
KATHMANDU: Nepal Investment Bank Ltd (NIBL) and Mega Bank Ltd (MBL) Wednesday started joint operation as Nepal Investment Mega Bank Ltd (NIMB).
Chairpersons of the two banks – Prithvi Bahadur Pandey of NIBL and Bhoj Bahadur Shah of MBL – inaugurated the joint operations amid an event organized in Kathmandu.
The merged entity has a paid-up capital of Rs 34.12 billion, while its assets total Rs 471 billion. Similarly, its total deposits and loans have reached Rs 360 billion and Rs 329 billion, respectively.
Likewise, NIMB has a customers base of three million, while it has a network of 296 branch offices and 279 ATM terminals.
Pandey will chair the board of directors of NIMB, while NIBL CEO Jyoti Prakash Pandey is leading the management as the CEO.
This marks the fourth big merger of Class ‘A’ banks in the country in less than two weeks. Kumari Bank Ltd and NCC Bank Ltd started joint operations as Kumari Bank Ltd on January 1.
Similarly, Global Bank Ltd and Bank of Kathmandu Ltd merged to become Global Bank Ltd on January 9, while Prabhu Bank Ltd completed the acquisition of Century Bank Ltd on Tuesday.
Two more mergers of Class ‘A’ banks – Himalayan Bank Ltd & Civil Bank Ltd and Laxmi Bank Ltd and Sunrise Bank Ltd – are on the cards.
