These Banks are Big Merger preparation, Final merger of Himalayan Bank and Investment Bank
Sep Thu 2021 11:56:29
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The possibility of merging Himalayan and Nepal Investment has increased within a month after the directive of NRB. The operators of these two banks have already started preliminary discussions and preparations for the merger.
The main promoters of both Himalayan and Investment Bank are close relatives. Himalayan Bank's promoter and chief advisor Himalaya Shamsher Rana and Investment Bank chairman Prithvi Bahadur Pandey are close relatives with family ties. Pandey also has investments in Himalayan Bank.
If the NRB policy is implemented, NIC Asia and NMB Bank will also be forced to merge. NIC Asia Bank's main promoter is Vishal Group. The group also has investments in NMB Bank. Similarly, promoters from another business group, Shanghai, have invested in both banks.
Similarly, Nepal Bangladesh and NCC Bank also have investments of the same business group. Sunrise and Siddhartha also have investments from promoters with family ties to the Marwari community. As per the NRB directive, these banks will also have to merge with each other.
The central bank plans to merge the smaller and weaker commercial banks. Banks like Civil, Century and Mega are also preparing to merge with strong banks. Some of these banks have already started discussions to find a partner for the merger.
Similarly, mid-tier banks like Bank of Kathmandu and Kumari are also expected to merge to become strong institutions. The monetary policy has stated that the policy of merging commercial banks has been put forward to strengthen the capital base of banks and financial institutions and strengthen risk bearing capacity.
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