Nabil Bank acquires United Finance « Khabarhub
Wednesday, June 19th, 2024

Nabil Bank acquires United Finance


05 May 2021  

Time taken to read : 2 Minute


  • A
  • A
  • A

KATHMANDU: Nabil Bank Limited has signed an agreement for the acquisition of United Finance Limited, a ‘C’ class financial institution with its registered office at Durbarmarg, Kathmandu.

In an agreement signing ceremony conducted today, the merger committee’s coordinator from Nabil Bank’s side, Udaya Krishna Upadhyay, and the coordinator from United Finance Limited’s side, Manish Kumar Khemak have inked the agreement for the acquisition.

Following the acquisition, it has been agreed that all of United Finance’s business transactions will be in the name of Nabil Bank and the Bank’s current board members will remain as the board of directors.

After the acquisition, the Bank’s paid-up capital will increase to NRs. 13.85 billion.

Likewise, the Bank’s branch network will increase to 147 with 37 branches located within Kathmandu valley and the total number of ATMs will be 190.

As a result of the acquisition, Nabil Bank’s deposit portfolio will increase to NRs. 216 billion and loan portfolio will increase to NRs. 201 billion (as per 3rd quarter’s financial result).

With this acquisition, Nabil Bank will enter the market with a new strategy through its innovative services and additional branch network.

Publish Date : 05 May 2021 11:01 AM

Today’s national news in a nutshell

Khabarhub brings you a glimpse of major developments of the

Former Prime Minister Bhattarai urges leaders to concentrate on developments

KATHMANDU: Chairman of Nepal Samajbadi Party Dr. Babauram Bhattarai has

Lalitpur metropolis to establish ‘project bank’, ‘labor bank’

PATAN: Lalitpur metropolitan city has incorporated ‘project bank’ and ‘labor

Koshi provincial assembly adjourned after opposition boycott

BIRATNAGAR: The 10th meeting of the fifth session of the

Yoga practice beneficial for police employees: Home Minister Lamichhane

KATHMANDU: Deputy Prime Minister and Minister for Home Affairs, Rabi