Commercial banks demand subsidies to encourage merger

Kathmandu, July 2

Responding to a call of the Nepal Rastra Bank to get ready for possible mergers, commercial banks of the country have said they are ready for the process. However, they have demanded that the central bank provide them with subsidies to ease the transformation.

Nepal Bankers’ Association, an organisation of chief executive officers of the commercial banks, on Tuesday decided to cooperate with the central bank’s call, and make an official request for the subsidies.

The Association had called a meeting to discuss the issue this morning.

“There are more banks than needed, no one can reject this argument,” a member of the Association says, “But, mergers cannot happen forcefully. The central bank should give us subsidies and we will be ready.”

The CEOs have demanded that the annual monetary policy to be announced next week should define the subsidies.

It means the banks are not ready for the merger before the announcement.

Published on July 2nd, Tuesday, 2019 1:03 PM

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