Himalayan Bank and Civil Bank have agreed to merge. The merger memorandum of understanding will be signed on Friday.
Himalayan and Civil have agreed to merge in a swap ratio of 100: 81.
An operator of Himalayan Bank informed that they are preparing to sign a memorandum of understanding on merger on Friday. A meeting will be held today to resolve other issues as well. After that, there will be a signature program.
In the monetary policy of the current fiscal year, the government had mentioned that if the merger process goes ahead within this fiscal year, nine more facilities will be provided for the next one year. Which is why these two banks are greedy for a merger agreement.
The monetary policy of the current Fiscal Year stated that additional facilities and discounts would be provided till mid-July 2022 BS in addition to the existing arrangement if the commercial banks participate in the merger, merger and acquisition process and conduct integrated business by mid-July 2023 BS.
