Kathmandu. It has been agreed that the status of employees of Nepal Investment Bank and Mega Bank will be equal. Along with the merger agreement between the two banks, it has been agreed that the rank status of the employees of the bank will also be equal.

A merger agreement was signed between Nepal Investment and Mega Bank on June 10. The two banks have reached a merger agreement with a swap ratio of 100:90. The two banks have agreed to have 0.90 shares of Mega Bank equal to one share of Investment Bank.

Even though the swap ratio is up and down, the service facilities and position of the employees of both the banks will be the same. Gopal Khanal, director of Mega Bank and a member of the merger committee, said that the service facilities of the employees of both the banks would be the same and the status would be the same. He said that there was no problem of staff adjustment between the two banks.

After the merger, it has been agreed to name the bank as Nepal Investment Mega Bank. After the merger, the chairman of the board of directors of the bank will be Prithvi Bahadur Pandey, chairman of the investment bank and Jyoti Pandey will be the CEO. Similarly, Rabina Deshraj Shrestha is set to become the senior deputy CEO.

Similarly, the merger process will be expedited so that the integrated business can be completed within the next six months. Nepal Investment Bank had earlier initiated the process of merging with Himalayan Bank. But after the agreement was leased and merged with Himalayan, the investment has entered into a merger agreement with Mega.