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Subhechha Bikas Bank to Merge with Garima Bikas Bank

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Subhechha Bikas Bank to Merge with Garima Bikas Bank
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July 15: Garima Bikas Bank, headquartered in Pokhara will merge with Subhechha Bikas Bank, headquartered in Narayanghat. The merger proposal was approved in the special general meeting of Garima Bikas Bank held on July 14.

Garima is a national level bank whereas Subhechha is operating in three districts only. The paid-up capital of merged bank will be Rs 1.8 billion. Currently, the paid-up capitals of Garima and Subhechha are about Rs 850 million and Rs 220 million respectively. After merger, the bank will have one extension counter and 37 branches. Issuing a press statement, the banks informed that the share swap ratio of 1:1 has been decided and the bank will function in the name of Garima Bikas Bank. The SGM also approved to transfer the central office of the bank to Lazimpat, Kathmandu from Pokhara-9, Mahendrapool.

 

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