Kathmandu. Nepal Rastra Bank gave final approval to the merger process between Kumari Bank and NCC Bank on Wednesday. Kumari Bank CEO Ramchandra Khanal has said that the final approval of the merger has been received from Rashtra Bank.

Kumari Bank had already said that it will conduct integrated business on 17th of May. Accordingly, there will be an integrated transaction between Kumari and NCC. After the merger, NCC's Rameshraj Aryal will be the chief executive officer of the bank, while Kumari CEO Ramchandra Khanal will remain as the senior deputy chief executive officer.

After the merger, the name of the bank will be Kumari Bank and the paid-up capital will be 25.85 billion. After the merger, the bank's deposits will be 3 trillion 11 billion 34 billion rupees and loans will be 2 trillion 74 billion 55 billion rupees. Based on the amount in reserve funds, the total capital of the bank will be 37 billion 65 million.