Himalayan Bank and Civil Bank have decided to merge.
A merger agreement was reached between the two banks on Wednesday. As per today’s agreement, the Chairman of the Board of Directors will be Himalayan Bank and the Chief Executive Officer will be Ashok Rana, CEO of Himalayan Bank.
Himalayan Bank is about to merge with Civil in the ratio of 100: 81. That is, those who have 100 shares of Civil Bank will have 81 shares of Himalayan Bank.
Earlier, Himalayan Bank and Investment Bank had also agreed to merge. But it was broken at the last moment.
