Kathmandu. The final agreement regarding the merger between Nepal Investment Limited and Mega Bank Limited has been approved. The final agreement prepared for the merger process was approved by the meeting held on 13th of November by the board of directors of both banks.

A merger agreement was signed between Nepal Investment Bank and Mega Bank on 27th May last with a swap ratio of 100:90. Currently, the paid-up capital of Nepal Investment Bank is 18.31 billion rupees and that of Mega Bank is 16.12 billion rupees.

Prithvi Bahadur Pandey and Chief Executive Officer Jyoti Pandey will be the president of the bank formed after the merger, and it has been agreed that the name of the bank will be Nepal Investment Mega Bank.

The swap ratio of Nepal Investment Bank and Mega Bank will be 100:90. This means Mega Bank will get 90 shares equal to 100 shares of Nepal Investment Bank. The Nepal Rastra Bank has also given theoretical approval to these two banks for the merger on June 22. It is said that the integrated business of these two banks will be completed by the end of next December.