Two Finance Companies Merge with Civil Bank

July 4: Governor of Nepal Rastra Bank (NRB), Chiranjive Nepal, said that the central bank is planning to boost financial activities across the nation by establishing new branches of various banks at local levels.

Speaking at the inauguration of integrated transaction of Civil Bank after merger with Hama Merchant and Finance Company and Unique Finance Company, Governor Nepal also said that the bank’s contribution in providing financial access to rural communities is indispensable.

Mergers with various banks and financial institutions (BFIs) help to strengthen transactions and to invest in large projects and industrial businesses, said Govinda Gurung, CEO of Civil Bank.

The bank now has 53 branches. The paid-up capital of the bank has increased to Rs 5.18 billion, deposit to Rs 34.97 billion and lending has increased to Rs 31.22 billion, informed the CEO.