Kathmandu. Kumari Bank and Nepal Credit and Commerce Bank (NCC) merged with each other and started integrated business from 1st of January 2023.

After the merger of Kumari and NCC, the consolidated business started under the name of Kumari Bank Limited. The merger proposal was passed by the special general meeting of both banks held on 25th of December. The National Bank gave the final approval for the merger to these two banks on January 6.

The Office of the Company Registrar gave final approval for the merger on 8th of January, with Kumari Bank assuming all the assets, liabilities and other potential liabilities of NCC Bank.

According to the same, the integrated business has started today on Sunday, 17th of January under the name of Kumari Bank. After the merger, the central office of the bank will be located at the place where Kumari Bank's registrar (central) office is located, the registrar office will be in Tangal, Kathmandu Metropolitan City Ward No. 2, the bank said.

With the merger, the paid up capital of the bank will be 25 billion 85 crores. Bank deposits will be 3 trillion 11 billion 34 billion deposits and loans will be 2 trillion 74 billion 55 billion.