Kathmandu. The integrated business of Nepal Investment Bank and Mega Bank is taking place on 27th of Push. The central office and branch office of both banks will be closed for two days on the 25th and 26th of February for data migration and other purposes while the integrated business is being started.

Both these banks had agreed to merge with each other on May 27th. It has been agreed that the merger swap ratio of 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 National Bank had also given in-principle approval to these two banks for the merger on June 22.

After the merger, the name of the bank will be Nepal Investment Mega Bank and Prithvi Bahadur Pandey will be the chairman of the bank. An agreement has been reached that Jyotiprakash Pandey will be the Chief Executive Officer (CEO) of the bank.

After the merger of Nepal Investment Bank and Mega Bank, the paid-up capital of the bank will reach 32 billion 81 crore 59 lakh 56 thousand rupees.