Nabil Bank Begins Joint Operation After Successful Acquisition of United Finance Limited

Nabil Bank Limited and United Finance Limited have begun joint operation from 11 July 2021, i.e. 27 Asadh 2078 after a successful acquisition process.

Mr. Upendra Prasad Poudyal, Chairman of Nabil Bank, and Mr. Basanta Kumar Chaudhary, Chairman of United Finance Limited inaugurated the joint operation at a program organized today.

Mr. Poudyal mentioned that the bank has moved ahead with the acquisition process in line with the Nepal Rastra Bank’s policy provisions. Mr. Poudyal stated, "We are confident that this achievement will make a significant contribution towards Nabil Bank’s upcoming business activities and the overall financial sector of the country."

After the acquisition, the Bank’s paid-up capital and total capital will increase to NRs. 13.85 billion and NRs. 32.68 billion respectively. Likewise, the Bank’s branch network will increase to 135 with 36 branches located within Kathmandu valley and the total number of ATMs will be 183. As a result of the acquisition, Nabil Bank’s deposit portfolio will increase to NRs. 216 billion and loan portfolio will increase to NRs. 201 billion (as per 3rd quarter’s financial result). With this acquisition, Nabil Bank will enter the market with a new strategy through its innovative services and additional branch network, the press release states.