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Merger of Nepal Investment Bank and Everest Bank put on hold

Banks in Nepal
Everest bank
started its operations in 1994 with a view and objective of extending professionalized and efficient banking services to various segments of the society.
Nepal Investment Bank
has the mission to be the leading Nepali bank, delivering world class service through the blending of state-of-the-art technology and visionary management in partnership with competent and committed staff, to achieve sound financial health with sustainable value addition to all our stakeholders.
Rastriya Banijya Bank

fully government owned & largest commercial bank in Nepal. provides various banking services to a wide range of customers including banks, insurance companies, industrial trading houses, airlines, hotels, and many other sectors. RBB has Nepal's most extensive banking network with over 113 branches.

Machha Puchchhre bank
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Bank of Kathmandu
Siddhartha bank limited
Standard Chartered

 

News item 14-10-2010

Prithvi Bahadur Pande, chairman and chief executive director of Nepal Investment Bank Limited, defended the proposed merger with Everest Bank Limited which was dropped amid criticism from within his organization.
Addressing the bank’s 24th annual general meeting on Wednesday, Pande said the proposed merger has been put on hold for now. “But the Nepali market will surely demand an amalgamation of the banks in the future,” he added.
The aborted merger was one of the topics discussed at Wednesday’s AGM. The plan was abandoned even before it reached the board after it stirred controversy within the organization. Before the plan was canned, the chairmen of the two banks had signed an initial memorandum of understanding to merge.
It would have been the largest ever merger in Nepal’s banking history. There is no act on mergers and acquisitions in the country, and the existing Bank and Financial Institution Act has made a few provisions regarding mergers. Pande also termed the existing environment for merger not encouraging.

 

Read more about the cancelled merger of Nepal Investment Bank and Everest Bank

 

Other banking news and articles:

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Sunrise bank launches saving scheme (1-1-2008)
Banepa, city of banks (16-12-2007)
Vibor Bikas Bank launches Vibor Super Yield Deposit (14-12-2007)
Makwanpur Agriculture Development Bank provides new loans for unemployed (29-11-2007)
Garima Development Bank Limited opens in Waling Bazaar (24-11-2007)
Nepal bank back on track (16-11-2007)
Sunrise bank starts operations (11-10-2007)

Everest bank starts mobile banking (27-9-2007)
Nepal Bank begins remittance service (26-9-2007)
Standard Chartered PLC to acquire American Express Bank (19-9-2007)
Excel Development Bank issues shares (20-8-2007)
ATM of Everest Bank at APEX college (29-3-2007)
SMS banking by Rastriya Banijya Bank (8-3-2007)

Performance Lumbini Bank (2-3-2007)
 

 

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