Kathmandu. The merger process between Nepal Investment Bank and Himalayan Bank is moving forward at a fast pace. The meeting of the merger committee of these two banks is working with the plan to finalize everything and sign the agreement next week.

Chairman of Nepal Investment Bank Prithvi Bahadur Pandey informed that there are no big issues left now. There is no problem with the swap ratio.

Now that a memorandum of understanding has been signed between the two, the new bank's equity will be Rs 50 billion after the merger, Pandey said.

 The name of the new bank will maintain the identity of both the banks. Another operator of the investment bank claimed that the name of the bank could be Himalayan Investment Bank after the merger.

Earlier, Nepal Investment and Himalayan's Movable Property Liability Assessment (DDA) have been completed and passed by the board.

As the DDA report of both the banks has been received, the management structure will be agreed after the board meeting. Ashok Rana is expected to become the chief executive officer (CEO) of the bank after the merger of the two banks and Prithvi Bahadur Pandey is expected to become the chairman of the bank.

After the merger, the bank's paid-up capital will reach Rs 25 billion and the reserve fund will reach more than Rs 16.25 billion. After the merger of these two banks, it will become the largest bank in Nepal.