Kathmandu. Chairman of the Board of Directors of Nepal Investment Bank Prithvi Bahadur Pandey has said that there will be a merger with Mega Bank if there is no obstruction. In a conversation with Corporate Nepal, he said that the merger talks with Mega have moved forward, adding that they expect the situation on both sides not to be as uncomfortable as with Himalayan Bank.

After the Investment Bank went through a lot of process to merge with Himalayan Bank, some of the operators and promoters of Himalayan Bank worked together to make the merger a failure. With the establishment of NIC Asia Bank, Global IME Bank and Navil Bank as big banks, the pressure was mounting to merge the existing and strong investment of Nepal.

Preliminary discussions are underway to merge the two banks in the ratio of 100: 90. Some operators have suggested that the new bank be named Mega Investment Bank or Investment Mega Bank. Discussions have been held on the appointment of Prithvi Bahadur Pandey, Chairman of the Investment Bank and Jyoti Pandey as the Chief Executive Officer and Rabina Shrestha as the Deputy Chief Executive Officer on behalf of Mega Bank.

In case of merger between Investment and Mega Bank, the new bank will be one of the four banks. The capital of the bank to be formed after the merger will be around Rs 33 billion. Investment Bank has yet to distribute the profits of the last fiscal year.