Big Merger Preparation Himalayan Bank to CIVIL Bank

Jun Thu 2022 04:28:27


Big Merger Preparation Himalayan Bank  to CIVIL Bank

Kathmandu. Himalayan Bank, which broke the merger with Nepal Investment Bank, has also started discussions with some banks for the merger. Himalayan Bank is in talks with Civil and Century for a merger. Himalayan Bank is under pressure to enter into a merger agreement with another commercial bank as soon as possible after the merger with Investment Bank broke down.

At this time, the first target of Himalayan Bank is Civil Bank. Century Commercial Bank is now in the discussion of Himalayas after Civil. Civil has a founding share of 8.51 percent in the Employees' Provident Fund. Similarly, Abha International Limited, run by Rana and Thapa Group, has 7.358 million 938 shares in Civil Bank while Vijaya International Pvt. Ltd., which is invested by Rana Group, has 1.320 million 900 shares in Civil.

Vijaya International is a company named after the wife of Himalaya Shamsher Jabraki, the founding chairman of Himalayan Bank. The company is run by the youngest son and daughter-in-law of Himalaya Shamsher, while the family of Ava International Himalaya Shamsher as well as Sunil Bahadur Thapa, son of former Prime Minister Surya Bahadur Thapa and Prithvi Bahadur Pandey have shares. Both Pandey and Thapa are sons-in-law of the Himalayas. It is estimated that Himalayan Bank may have chosen Civil for the same reason.

Himalayan Bank is also ready to give a respectable share swap ratio to Civil Bank. Even if the Board of Directors of Civil Bank gets a respectable share swap and the staff adjustment is done as they say, it seems that there will be no delay in merging with Himalayan Bank.