The integrated business of Himalayan Bank and Civil Bank will start today on February 24.
Himalayan Bank will start integrated business under the name of Himalayan Bank itself from Friday after acquiring Civil Bank.
The integrated transaction will be organized by holding a program at the central office of Himalayan Bank.
Himalayan Bank and Civil Bank merged with a swap ratio of 100:80.28. That is, the shareholders of Civil Bank will get 0.2 shares of Himalayan Bank equal to 100 shares.
Prachanda Bahadur Shrestha will become the Chairman of the Board of Directors of Himalayan Bank after the integrated transaction.
Also, Faisal N Lantern, Sunil Bahadur Thapa, Jitendra Dhital, Ashish Sharma, Bijay Bahadur Shrestha and Radhakrishna Pote will become directors.
Also, Ashok Rana of Himalayan Bank will be the Chief Executive Officer (CEO) of the bank after the merger.
A preliminary agreement was signed between Himalayan Bank and Civil Bank on July 13.
After acquiring Civil Bank, the paid-up capital of Himalayan Bank has reached 23.08 billion rupees.
Similarly, the total capital is reaching 34 billion rupees.
Similarly, the total deposit in the bank is 274 billion rupees, while the total loan is 2 50 billion rupees, according to Himalayan Bank.
With the Civil Bank acquisition, Himalayan Bank now has a total of 189 branches.
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