KATHMANDU, Nov 9: Kailash Bikas Bank Ltd (KBBL), Metro Development Bank Ltd and Nepal Express Finance Ltd have decided to undergo merger. Issuing a statement, KBBL said the three institutions signed a Memorandum of Understanding (MoU) for merger on Monday.
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The three institutions plan to complete merger by mid-April next year and start joinnt operation immediately. According to the statement, the consolidated institution will have paid-up capital of Rs 2.55 billion, deposits of Rs 12.3 billion and loans of Rs 10.77 billion.
"The three institutions, which have been providing high-level banking services, will be united as a strong financial institution as the capital base and business will see expansion following the merger," the statement added.
