NCC and Kumari Bank going into merger



October 10, Kathmandu. Nepal Credit and Commerce (NCC) and Kumari Bank are going to merge. A preliminary memorandum of understanding (MoU) regarding the merger between the two banks was signed at the Marriott Hotel on Monday.

On Monday, Chandra Bastola, Coordinator and Director of Merger Committee on behalf of NCC Bank and Krishna Prasad Gyawali, Coordinator and Director of Merger Committee on behalf of Kumari Bank signed the AOU. It has been agreed that the merger of the two banks will take place in a swap ratio of 1:1.

After the merger of the two banks, the paid-up capital will be Rs 25 billion 85 crore. Bank deposits will be 3 trillion 11 billion 34 billion deposits and loans will be 2 trillion 74 billion 55 billion. The total capital of the bank will be ₹37.65 billion based on the amount in reserve.

After the merger of the two banks, the paid-up capital will be Rs 25 billion 85 crore. Bank deposits will be 3 trillion 11 billion 34 billion deposits and loans will be 2 trillion 74 billion 55 billion. Based on the amount in the reserve fund, the total capital of the bank will be 37 billion 65 crore.

After the merger, Rameshraj Aryal will be the Chief Executive Officer of the bank. Kumari K Ramchandra Khanal will be the senior deputy chief executive officer. After the merger, the name of the bank will be Kumari Bank. Similarly, on the board of directors, there will be 4 people from ACC and 3 from Kumari.


Source: OnlineKhabar

Himal Sanchar