March 24: Integrated transaction of merged entity of City development Bank ltd and Om finance limited is going to start on Chaitra 22. Earlier, NRB approved merger process of these two companies on Chaitra 3.

According to the press release, merged entity will be functioning as national level development bank with new name “Om Development Bank Ltd”. Sushil Kumar Goshali, Chairman of Om Finance will be the Chairperson of the newly merged company. In the integrated entity,  Bishwo Mohan Adhikari, CEO of City Development Bank will be serving as CEO while Budhi Kumar Malla, CEO of Om Finance will be serving as deputy CEO.

After integrated transactions, bank’s paid up capital will totaled Rs. 1.05 billion, deposit Rs. 10.9 million and loan investment Rs. 9.08 million. Similarly, bank will have 25 branches, 3 ATMs, 219 employees and nearly 100 thousands customers. “Total no of shareholders reaches 16,275”, says Bishwo Mohan Adhikari, CEO of City development Bank.