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September 22: Garima Bikas Bank, headquartered in Pokhara and Subechha Bikas Bank, headquartered in Chitawan has started joint transaction from September 20. Chiranjibi Nepal, Governer of Nepal Rastra Bank (NRB) inaugurated the joint transaction amid a program.
According to Govinda Dhakal, CEO of Garima Bikas Bank, the paid-up capital will reach Rs 1.08 billion after the merger between national standard Garima Bikas Bank and Subechha Bikas Bank, operating in three districts. The name of joint entity will be Garima Bikas Bank after the merger.
Dhakal informed that the deposit collection and investment of the bank after the merger will reach Rs 11.6 billion and Rs 10.6 billion respectively. Presently, the bank has 37 branches and nine ATMs. Earlier, the bank had merged with Nilgiri Bikas Bank, headquartered in Beni, Myagdi last year. The bank made merger as first medium in order to increase paid-up capital as per the Nepal Rastra Bank (NRB) directive. Dhakal said, “The bank is still open for more mergers till it meet the minimum paid-up capital. In case of no merger, the bank aims to meet the capital of Rs 2.5 billion through issuing right share.” The merged entity has Dilip Pratap Khand as Chairman whereas Chadrakant Baral, Shyam Prasad Basyal, Ananda Prasad Shrestha, Keshav Raj Dhaka, Bimal Pandey and Sanjiv Dhakal have been appointed as directors of the bank.
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include - APP/View/Articles/view.ctp, line 391
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simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
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View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
