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Kathmandu, Nepal, January 14, 2021: The much more touted merger process between the Himalayan Bank Limited (HBL) and Nepal Investment Bank Limited (NIB) has come to end from Friday, thanks to the rejection of the merger proposal by the former’s shareholders.
Annual General Assembly of the Himalayan Bank rejected the board of director’s decision to merge with the Nepal Investment Bank through the majority votes.
Earlier, both the banks had signed in a Memorandum of Understanding (MoU) to merge. The decision to reject the merger proposal is also forwarded to the Nepal Rastra Bank (NRB), the central bank of Nepal.
