Â Kathmandu,29 Jan 2015: The Mega Bank Nepal Ltd and Paschimanchal Bikas Bank have agreed to merge into a single entity. Mega Bank Chairman Prof Dr Madan Kumar Dahal and Paschimanchal Bikas Bank Chair Durga Prasad Pandey agreed in principle for the merger amidst a programme held here on Thursday. A joint meeting of the two banks’ executive board also decided to swap Mega Bank’s Rs 104 worth per unit of share and the Paschimanchal Bank’s per unit of share amounting to Rs 67. Mega Bank CEO Anil Keshari Shah said with the merger the door for possibilities of more such fusion among financial institutions in future had opened.
Mega Bank’s two preceding AGM had taken the decision for the merger.