Kathmandu. In case of no merger between Himalayan Bank and Nepal Investment Bank, which has received in-principle agreement from NRB for merger, additional time will be provided. The central bank has said that the deadline for getting final approval for integrated business is not the merger even though it is the last day on Sunday. NRB spokesperson Dev Kumar Dhakal said that the time was being extended as suitable reasons for the merger were submitted by the banks on Sunday.

Central Bank spokesperson Dhakal said that it was difficult for the big banks to go for merger, adding that taking time and adding should not be taken negatively. He informed that the board of directors of both the banks has requested the NRB to extend the merger period as the deadline given by the central bank expired on Sunday. He said that the NRB will decide how much time to add for the merger.

Himalayan and Investment Bank had agreed to merge on April 12. It has been agreed that Ashok Rana, CEO of Himalaya Bank will be the CEO of the new bank and Prithvi Bahadur Pandey, Chairman of Investment Bank will also be the Chairman of the new bank.