Kathmandu. Himalayan Bank is to sign a Memorandum of Understanding (MoU) with Nepal Investment Bank for merger. A board member said that the MoU has been prepared on behalf of Himalayan and is being prepared for discussion in the board. A board of directors said that the board meeting of Himalayan Bank, which ended on Thursday, approved the DDA report prepared for the merger. It has been said that the MoU will be signed after the joint meeting of the merger committee of the two banks.

Chairman of Himalayan Bank, Tulsiram Gautam, said that preparations are being made to finalize the merger process within April.

Nepal Investment and Himalayan's Movable Property Liability Assessment (DDA) have been completed and passed by the board.

 Another operator of the investment bank claimed that the name of the bank could be Himalayan Investment Bank after the merger.

Ashok Rana is expected to become the chief executive officer (CEO) of the bank after the merger of the two banks and Prithvi Bahadur Pandey is expected to become the chairman of the bank.

After the merger, the bank's paid-up capital will reach Rs 25 billion and the reserve fund will reach more than Rs 16.25 billion. After the merger of these two banks, it will become the largest bank in Nepal.