Kathmandu. Himalayan and Civil Bank Limited have started integrated business from Friday. After acquiring Civil Bank, they started integrated business under the name of 'Himalayan Bank Limited' on Friday in a special ceremony.

Prachanda Bahadur Shrestha, Chairman of Himalayan Bank Limited, has announced the start of integrated business. He said that this acquisition is for Himalayan Bank to move forward together on the path of prosperity with excellence.

After acquiring the Civil Bank, the bank's authorized capital will be Rs. 26 billion paid up and issued capital will be Rs. 21.65 billion, total capital will be Rs. 34 billion and total assets will be Rs. 334 billion. The total deposit of the bank will be 274 billion and the total loan will be 250 million.

Similarly, the bank said that it will provide services to its customers through 189 branches, 20 extended counters and more than 263 ATMs all over Nepal. Addressing the special ceremony, Bank Chairman Shrestha said that Himalayan Bank has acquired Civil Bank for the greater development, sustainability and strength of the bank, keeping in mind the economic condition of the country and the possibility of market expansion after the acquisition.

Similarly, Pradeep Jang Pandey, Chairman of Civil Bank Limited, said that the unity between the two banks is to make them stronger and more capable in the future. At the ceremony, Himalayan Bank Limited Chief Executive Officer Ashok Shamsher Rana said that now Himalayan Bank has become an excellent, strong and large institution in the country. He said that in the coming days, the bank will focus on giving the highest returns to the shareholders and providing the customers with timely and innovative service facilities.

In the program, the General Manager of Himalayan Bank, Ujwal Rajbhandari, thanked all the organizations for their support and cooperation in this acquisition process. After Himalayan Bank acquires Civil Bank, the board of directors of the bank will currently consist of the board of directors of Himalayan Bank Limited, while Prachanda Bahadar Shrestha will remain the chairman of the bank. Similarly, the chief executive officer of the bank is Ashok Shamsher Rana.