Kathmandu. Himalayan and Civil Bank are in the final stages of merging and amalgamation. Bank sources said that the two banks are preparing to sign a merger agreement on Friday to finalize the merger agreement.

According to sources, the two banks have so far agreed on a 100: 81 swap ratio. This means that the shareholders who have 100 shares in Civil Bank will get 81 shares after merging with Himalayan Bank. At present, the paid up capital of Himalayan Bank is Rs. 12.96 billion and that of Civil is Rs. 9.07 billion. After the merger, the bank's paid-up capital will reach Rs 21 billion. According to a source, the name of the institution to be formed after the merger will be Himalayan Bank.

Similarly, Prachanda Bahadur Shrestha will be the chairman of the bank and Ashok Rana of Himalayan will be the chief executive officer of the bank. Sunil Pokharel will be the senior deputy chief executive officer of the new bank. Similarly, it is understood that the position and status of the employees will be equal. According to sources, after giving a swap ratio of Rs 81 to Civil, the operator has been saying that it will not make any claim.