Kathmandu. Himalayan Bank will not have an agreement to acquire Civil Bank. Himalayan Bank was to sign a preliminary agreement (MoU) to acquire Civil Bank. However, the program was postponed after the Civil Bank said that it would reach an agreement only after finalizing the staff adjustment and the board of directors, said an operator of Himalayan Bank.

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.