Kathmandu. Nepal Rastra Bank (NRB) has directed to go for merger by mid-July. Governor of Nepal Rastra Bank Maha Prasad Adhikari has instructed the chairpersons and operators of commercial banks to start the process for merger within this month. The banks are engaged in internal preparations.

A merger agreement has been signed between Global IME Bank and Bank of Kathmandu. The agreement was signed by Chandra Prasad Dhakal, Chairman of Global IME Bank and Prakash Shrestha, Chairman of Bank of Kathmandu Limited. The new bank to be formed after the merger will be called Global IME BOK Limited.

Along with the merger agreement between Global IAE Bank and Bank of Kathmandu, four other banks are also preparing to merge soon. According to news sources, Civil Bank and Himalayan Bank are about to merge, while Century Commercial Bank and Machhapuchhre Bank are about to merge.

Similarly, Nepal Credit and Commerce (NCC) Bank, which was immediately merged with NB Group after the acquisition of Nepal Bangladesh Bank by Navil Bank, is also preparing to merge, said a news source. As Chaudhary's relationship with NB Group has improved, now NCC Bank is also likely to merge with Chaudhary Group.

Preparations are underway to sign a preliminary agreement for a merger between Civil Bank Limited and Himalayan Bank Limited. Century Commercial Bank and Machhapuchh Bank are preparing to sign a merger agreement. Earlier, an agreement was reached between Nepal Investment Bank and Mega Bank to merge. For which the share trading of both these banks has also been stopped.