BoK and Lumbini Bank complete merger process
Friday 15th of July
Kathmandu, July 15: The Bank of Kathmandu (BoK) and the Lumbini Bank Ltd completed the merger process and started combined banking transaction from Thursday.
This is first of its kind that two 'A' class commercial banks have merged to continue transaction jointly. Both the banks presented a joint application at the Nepal Rastra Bank (NRB) for the merger and acquired its consent in principle.
The paid-up capital of the banks has now grown to Rs 4970 million. The two banks will now operate through 74 branches, 33 branchless service centres and 63 ATM counters. It will also have seven extension centres.