Citizens Bank acquires Premier Finance

Published On: July 17, 2016 08:44 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, July 17: Citizens Bank International Ltd has acquired Premier Finance Co Ltd.

Issuing a statement, the commercial bank said that the integrated operation of the bank following the acquisition kicked off on Sunday.

Earlier, the commercial bank had snapped up Nepal Housing and Merchant Finance Ltd and People's Finance Ltd.  Following the acquisition, the bank's paid up capital has reached Rs 3.1 billion. Its deposit mobilization and lending stand at Rs 48.8 billion and Rs 41.8 billion, respectively.

The bank now has 58 branch offices across the country. It also serves its clients through 93 branchless banking services across the country, according to the statement.

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