March 3: Sagarmatha Finance, headquartered at Patan, Lalitput, is set to merge into Century Commercial Bank. Both institutions signed a memorandum of understanding (MoU) regarding the matter.

Sagarmatha Finance has paid-up capital of Rs 780 million including the right shares and profit of the last FY. The company is providing its services through 14 branches. Meanwhile, Century Bank has already obtained agreements in principle of Innovative Development Bank and Arniko Development Bank to acquire them.