Dorzen of Commercial banks started to finalize the Big Merger process: Global IME and Nabil Bank will be the first One

Jun Thu 2022 04:34:56

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Dorzen of Commercial banks started  to finalize the Big Merger process: Global IME and Nabil Bank will be the first One

There is a wave of bank mergers in Nepal's financial sector. Banks are being forced to merge due to increasing competition and increasing business conditions. On top of that, government policy and pressure from the Nepal Rastra Bank have forced the banks to merge. Last Thursday, two of the largest banks in the financial sector had already signed a merger agreement, while the merger agreement of the other two banks was signed exactly one week ago. Last week, Nepal Investment Bank and Mega Bank Nepal had signed a preliminary agreement to merge. Global IME Bank and Bank of Kathmandu have signed a preliminary agreement.

Similarly, the merger of Nabil Bank and Nepal Bangladesh Bank (NB) has also been finalized. The general assembly of Nabil and NB has approved the merger. It is understood that Nabil has finalized the merger with NB and is discussing the merger with Nepal Credit and Commerce (NCC) Bank again.

It is understood that Himalayan Bank, another bank which has broken the merger with Nepal Investment Bank, has also started discussions with some banks for merger and will go for merger soon. Himalayan Bank is currently in continuous discussions with Civil and Century Bank.

Similarly, Kumari Bank is also in discussions with various banks for merger. However, Century Bank has now started discussions with other banks as they did not agree with Century.