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May 14: Mega Bank Nepal has started joint operation after acquiring all 36 branches, extension counters, and ATM outlets of Tourism Development Bank on Sunday, May 13. During a function held in the capital to make the announcement, Nepal Rastra Bank's Governor Dr Chiranjibi Nepal congratulated the bank for the progress.
Mega Bank's Chairman Bhoj Bahadur Shah stated, ''With the acquisition, Mega Bank has become the country's third biggest commercial bank based on total paid-up capital."
After acquiring Tourism Development Bank, the bank's branch network has spread across 49 districts from the earlier 32 districts, reads the bank's press statement. The bank now has 91 branches after the acquisition, said the bank's CEO Anupama Khunjeli.
Gopal Khanal, the coordinator of the acquisition committee and Mega Bank's board member, said that the bank will be the best bank of the country on the basis of capital, networking and professionals after the acquisition. He added that the bank's service network will be extended in all provinces of the country creating its unique identity.
This is the second acquisition of Mega Bank. Prior to this, Western Development Bank with its head office in Butwal was acquired by the bank.
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