Fewa and Gandaki Start Integrated Transaction

July 6: Fewa Development Bank has started integrated transaction service after its merger with Gandaki Bikas bank since Wednesday. After the merger, the paid-up capital of the bank, which will operate in the name of Gandaki Bikas Bank, has reached Rs 1.84 billion, according to the bank’s CEO Resham Bahadur Thapa. The bank has set a target of meeting the paid-up capital requirement of 2.5 billion set for development banks within the current fiscal year after issuing 25 percent right shares. After the merger, the bank’s deposit has reached more than Rs 18 billion while it has loaned out more than Rs 16 billion, informed Thapa.