KATHMANDU, Nov 19: Business Universal Development Bank Limited (BUDBL) and Fewa Bikash Bank Limited (FBBL) have filed applications at the Nepal Rastra Bank (NRB) for merger.
The two class 'B' financial institutions signed Memorandum of Understanding (MoU) for merger on Tuesday. BUDBL's merger committee coordinator Dinesh Shankhar Palikhe and FBBL's merger committee coordinator Bindu Kumar Thapa signed the MOU.
Issuing a joint press release, both the banks said they plan to complete merger process by mid-April next year.