KATHMANDU, April 12: Central Finance Ltd and Bhaktapur Finance Company Ltd have signed a Memorandum of Understanding (MoU) for merger.
They have jointly applied to the Nepal Rastra Bank (NRB), seeking the central bank's go-ahead for the merger, a statement issued on Tuesday said.
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The paid-up capital of the merged entity will reach Rs 457.5 million after merger. Currently, Central Finance has paid-up capital of Rs 246.5 million, while Bhaktapur Finance is operating with a paid-up capital of Rs 211 million.
Central Finance has four branch offices including its headquarters in Kupandol, while Bhaktapur Finance has a single branch office in Bhaktapur.
