Kathmandu. The consolidated transaction of Himalayan and Nepal Investment Bank will take place only in September. Earlier, preparations were being made to conduct integrated business by mid-July, but now only integrated business will be conducted in September (Ashoj).

Final approval from Nepal Rastra Bank is yet to be obtained for the merger. The merger agreement was signed between Himalayan Bank and Nepal Investment Bank on April 12. The two banks have agreed to name the bank 'Himalayan and Nepal Investment Bank Ltd' after the merger.

As per the merger agreement, Prithvi Bahadur Pandey and Chief Executive Officer (CEO) Ashok Shamsher Rana have been appointed as the Chairman of the Board of Directors of the Bank.

After the merger, the Board of Directors of Himalayan and Nepal Investment Bank has agreed to appoint 3/3 directors from both the banks and the new board of directors will appoint an independent director to form a 7-member board of directors.

At present, the paid up capital of Nepal Investment Bank is Rs. 16.26 billion and the paid up capital of Himalayan Bank is Rs. 10.68 billion. When the two banks merge, the bank's paid-up capital will reach Rs 26.94 billion. And, it will become the bank with the highest paid-up capital.

According to the information received, the salary and service facilities of the employees of any bank will not be reduced. A source said that preparations are being made to adjust the posts of the employees of Himalayan Bank and Nepal Investment Bank in the same way as they are.