Two regional level development banks-Pokhara based Shangrila Development Bank and Nepalgunja based Bageshwari development bank have lodged an application at Nepal Rastra Bank (central bank of Nepal) for a merger, eying to upgrade into a national level development bank. If they succeed in their endeavour, they will become the first development banks to merge. Boards of directors of both the development banks have already endorsed the merger proposal. They have plans to merge and upgrade simultaneously.
But there is no success story of merger in our country. There is only one example to cite- National Finance and Narayani Finance. These companies had merged into Narayani National Finance more than a year ago. Everest Bank Ltd and Nepal Investment Bank Ltd had recently taken initiative to explore the possibilities of merger but soon announced that the understanding has terminated.
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