Kathmandu. NMB Bank and Kanchan Development Bank have started integrated business from Sunday. NMB Bank has started integrated business by acquiring Kanchan Development Bank.

The bank, which passed the resolution through a special general meeting on July 7 to acquire Kanchan Development Bank, has started integrated business from September 22 after receiving approval from Nepal Rastra Bank on July 8 and the Registrar of Companies on July 10. Earlier, NMB Bank had completed the merger process with OM Development Bank on September 26 and started integrated business.

NMB Bank and Om Development Bank have merged by exchanging 76 shares of NMB Bank equal to 100 shares of Om Development Bank.

The bank, which has managed to pay the highest dividend among commercial banks after its merger with OM, has completed the acquisition process by exchanging 85 shares of Kanchan's equivalent to 100 shares.

Rs. NMB Bank has a paid up capital of Rs. 13.95 billion. Kanchan Development Bank, which has a paid-up capital of Rs 584.43 million, has been acquired. After the merger of the two banks, the paid-up capital has reached Rs. 14.53 billion.

Along with integrated business, NMB Bank's branch network has expanded to provincial structure. After receiving Kanchan, the bank's branch office has reached 186 and will provide services through 135 ATMs.