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Fewa and Gandaki Bikash Bank Sign MoU for Merger

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Fewa and Gandaki Bikash Bank Sign MoU for Merger
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September 12: Fewa Bikas Bank and Gandaki Bikash Bank having their head office at Pokhara signed a memorandum of understanding (MoU) for merger on September 9.  The bank decided to go for merger following the paid-up capital expansion policy issued by Nepal Rastra Bank (NRB).

The MoU was signed by Bindu Kumar Thapa, Chairman of Fewa Bikash Bank and Padam Prasad Paudel, Chairman of Gandaki Bikash Bank. After the merger, Director of Fewa Bikash Bank, Jagan Bahadur Gurung will remain as Chairman of the bank whereas Resham Bahadur Thapa will be the CEO of the bank.

“The merged entity will have Rs 1.56 billion paid-up capital,  Rs 460 million profit, Rs 17.27 billion deposit and Rs 14.85 billion loan extension,” informs the bank in a press statement. After the merger, the bank will be providing its services through 50 branches including head office and 21 ATM outlets.
  
  

 

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