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Investment, Mega banks suspend share transactions following the merger deal

Officials of Nepal Investment Bank and Mega Bank sign a merger deal, in Kathmandu, in June 2022.
Officials of Nepal Investment Bank and Mega Bank sign a merger deal, in Kathmandu, in June 2022.

Kathmandu, June 13

Nepal Investment Bank and Mega Bank Limited have suspended their share transactions after signing a merger deal.

Both the companies have written to the country’s sole share market, Nepal Stock Exchange (Nepse), asking it to suspend the transactions.

Recently, the two banks have signed an agreement to merge into one. The new bank will be named Nepal Investment Mega Bank Limited, and it is expected to start transactions by mid-October 2022.

After the merger, the bank will be the biggest commercial bank in Nepal with a paid-up capital of Rs 32.81 billion.

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