Kathmandu. The meeting of the Board of Directors of Himalayan Bank has been postponed after the Chairman of the Board of Directors of Himalayan Bank Tulasi Prasad Gautam fell ill.

A meeting of the board of directors of Himalayan Bank was scheduled to be held on Monday. And, the meeting was planned to approve the Asset and Liability Assessment (DDA) report for the merger of Nepal Investment Bank and Himalayan Bank.

The Board of Directors of the Investment Bank has approved the DDA. The meeting of the Board of Directors of Himalayan Bank is yet to approve the DDA.

By Tuesday, the Board of Directors of Himalayan Bank had approved the DDA and was preparing to sign a Memorandum of Understanding (MoU) on Thursday or Friday. The merger process has been delayed due to the illness of Chairman Gaumat.

The two banks have agreed to have Prithvi Bahadur Pandey, chairman of Nepal Investment Bank, as chairman of the board of directors and Ashok Rana of Himalayan Bank as CEO. When the two banks merge, the share swap will be in the ratio of 1: 1.

Nepal Rastra Bank wants the two banks to merge. Both the banks had started preparations by concluding a merger agreement this week.

However, the meeting of the board of directors of Himalayan Bank has been postponed to next week due to illness of the chairman of the board of directors.

If the two banks merge, it will become the largest bank in Nepal. The paid up capital will be around Rs 27 billion and the authorized capital will be around Rs 47 billion. Deposits will be Rs 300 billion and loans Rs 268 billion.