Nepal Investment Bank and Himalayan Bank Abandon Merger Plan to Become Biggest Bank in Nepal

Nepal Investment Bank Limited has canceled its SGM scheduled to be held on 4th Magh, 2078.

The primary agenda of the SGM was related to the merger procedure initiated between Nepal Investment Bank and Himalayan Bank. However, the AGM of Himalayan Bank decided to abandon the merger procedure. As such, Nepal Investment Bank has now canceled its scheduled SGM, since it is now pointless.

The Due Diligence Audit (DDA) had suggested a swap ratio of 1: 1 for the merger between Himalayan Bank and Nepal Investment Bank Limited. A source told Sharesansar that HBL decided to abandon the merger because its shareholders believed their swap should have been higher.

Had this merger materialized, the merged bank would have become the largest bank in the country in terms of paid-up capital size.