Kathmandu, December 6
Five months after they signed a memorandum of understanding to merge, two big commercial banks of Nepal, Global IME Bank and Janata Bank, have merged and begun an integrated transaction on Friday. The merged bank has been named Global IME Bank and it carries the logo of erstwhile Global IME Bank.
With the merger, the number of commercial banks has dropped to 27 from 28.
Amidst a function organised to announce the merger today, Minister for Finance Yuba Raj Khatiwada also said this move opened the series of ‘big mergers’ in the country’s banking industry.
It has been learned that some other commercial banks are also looking forward to merger opportunities with each other and smaller development banks and finance companies.
