Kathmandu. Nepal Investment Bank and Himalayan Bank have reached an agreement in a preliminary memorandum of understanding to merge. The agreement was signed by Chairman Prithvi Bahadur Pandey on behalf of Nepal Investment Bank and Chairman Tulasi Prasad Gautam on behalf of Himalayan Bank.

According to the agreement, Prithvi Bahadur Pandey will be the chairman of the board of directors and Ashok Shamser Rana will be the chief executive officer. After the merger, the name of the bank was changed to "Himalayan and Nepal Investment Bank Ltd." It is said to happen.

In the Board of Directors of the bank to be formed after the merger, 3/3 directors will be appointed from both the banks and the new board of directors will appoint an independent director and there will be a board of directors of 7 members.

At present, the paid up capital of Nepal Investment Bank is Rs. 16.26 billion and the paid up capital of Himalayan Bank is Rs. 10.68 billion. After the merger of the two banks, the bank's paid-up capital will reach Rs 26.94 billion. In addition, it will become the bank with the highest paid-up capital.

At present, the reserve and fund of Nepal Investment Bank is Rs. 14.10 billion and that of Himalayan Bank is Rs. 7.67 billion. At present, the investment of Nepal Investment is Rs. 160.98 billion and that of Himalayan Bank is Rs. 127.14 billion. With Rs 168.29 billion in deposits from Nepal Investment Bank and Rs 143.70 billion from Himalayan Bank, it will be the strongest and largest bank in every sector after the merger.