NMB, Clean Energy Bank Ink Merger Deal

NMB, Clean Energy Bank Ink Merger Deal

Dec. 26, 2014, 5:45 p.m. Published in Magazine Issue: Vol: 08 No. -13 December. 26- 2014 (Poush 11, 2071)

They have held a series of negotiations for more than a year as Nepal Rastra Bank — the central regulatory authority — has encouraged financial institutions having crossholding to go into merger.

NMB, a class ‘A’ financial institution, and Clean Energy, a class ‘B’ financial institution, had started negotiations following the central bank’s directive.

After the merger, NMB Bank’s deposit will stand at Rs 42.44 billion against the loan amount of Rs 33.97 billion and core capital will be at Rs 5.48 billion.

Altogether 67 branches, seven extension counters and 38 ATMs will be operated following the merger and the merged entity will retain the name of NMB.

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