Womi Laghubitta and Nagarik Laghubitta receive final approval for merger from NRB

Nepal Rastra Bank (NRB) has provided the final approval to the merger of Womi Laghubitta Bittiya Sanstha Limited WOMI) and Nagarik Laghubitta Bittiya Sanstha. Most of the procedure related to the merger has been completed.

The two microfinance companies agreed to merge in the final week of Falgun, 2075. Womi Microfinance is a national level microfinance company operating since 2068. Recently the head office of the company was shifted from Naubise to Bharatpur. The company is currently operating in 32 districts around the country.

On the other hand, Nagarik Laghubitta is a relatively young company. It hasn’t issued IPO to the general public. The head office of the company is situated in Banepa.

After completion of merger, thee entity will operate under the name Womi Laghubitta Bittiya Sanstha and the head office will be shifted to Banepa. Mrs. Bindiya Pradhan will take up the post of Chairperson of the company while CEO of WOMI Mr. Pramesh Acharya will be retained as the CEO.

WOMI was recently honored by the Internal Revenue Department for being the highest tax payer in Dhading district in the eight national tax day. The company has been honored for the fourth time.