Nepal Investment Bank and Mega Bank Nepal Limited have merged two banks and have formally started integrated business under the name of Nepal Investment Mega Bank. This bank, which has started integrated business with the slogan 'Moving together on the path of prosperity', has emphasized unity and excellence.

In an event organized today in Kathmandu, Prithvi Bahadur Pandey, Chairman of Nepal Investment Bank Limited and Bhoj Bahadur Shah, Chairman of Mega Bank Nepal Limited jointly announced the launch of integrated business. The share swap ratio between the two banks is 100:10. Former Nepal Investment Bank Chairman Prithvi Bahadur Pandey and Chief Executive Officer Jyotiprakash Pandey are the presidents of the new bank formed after the merger.

Prajanya Rajbhandari, Kavi Kumar Tibrewala from Nepal Investment Bank and Gopal Khanal, Madan Kumar Acharya and Mukti Ram Pandey from Mega Bank are represented in the new board of directors. Similarly, Manju Basnet, who was an independent director in the former Nepal Investment Bank, is also an independent director in the board of directors that will be formed now.

Chairman Pandey expressed the opinion that both banks, which are known as strong and competent organizations as leading banks in the banking sector, will be able to become one of the largest commercial banks in the country and gain leadership in all financial indicators. In addition to this, he said that this merger has given more energy to the financial sector and also given more enthusiasm to the merger policy of Nepal Rastra Bank and inspired other banks to merge.

Likewise, Mega Bank Chairman Bhoj Bahadur Shah said that this merger is a happy and positive step for the country's banking sector and economy. He expressed his belief that after the merger, the good traditions, customs, customer service, and employee management of both banks will be adopted in order to maintain the dignity of both the banks and their work.

The presidents of both banks jointly expressed their gratitude to the government of Nepal, Nepal Rastra Bank, the board of directors of both banks, the merger committee, the staff, and all the related sectors and well-wishers for encouraging and supporting this transformational effort.

After the merger, the total paid up capital of the bank is Rs. 34.12 billion, total capital Rs. 58 billion and total assets of Rs. 4 trillion 71 billion, similarly the total deposit is Rs. 360.2 billion and loan investment of Rs. Nepal Investment Mega Bank has become one of the leading commercial banks in the country by providing services to a total of 3 million customers worth 329.06 billion.

Similarly, after the merger, the number of branches of the bank has increased to 296, extension counters have increased to 59, branchless banking services have increased to 109, and ATM network has increased to 279. In the near future, the bank has promised to expand its branch network to cover all 77 districts of the country and ensure access to finance for every Nepali.