Seven pairs of BFIs receive NRB nod for merger

Kathmandu, December 22

In line with the merger and acquisition of banks and financial institutions (BFIs) adopted by the , seven pairs of BFIs have received (LoI) from Nepal Rastra (NRB) to start the consolidation process. Similarly, four pairs of BFIs are in the process of getting LoI from the for merger.

As per NRB, NESDO and Nepal Agro Laghubitta Bittya Sanstha; Jeevan Microfinance and Salva Lagubittia Bittiya Sanstha; Manakamana Laghubitta Bittiya Sanstha and Smart Laghubitta Bittiya Sanstha; and Mega Bank and Gandaki Bikas Bank have presented a merger proposal at the central bank.

Among those BFIs that have already acquired LoI from NRB to enter into the merger and acquisition process, Prime and Kailash Bikas Bank; Bijaya Laghubitta and Sweda Laghubitta; and Citizens Bank and Sahayogi Bikas Bank have started the process to get merged officially.

The other four pairs of BFIs that have received LoI are Suryodaya Laghubitta and Trilochan Laghubitta; Aarambha Laghubitta and Chautari Laghubitta; Mirmire Nagbeli Laghubitta and Kisan Laghubitta; and Unnati Microfinance and Sahakarya Laghubitta.

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