October 19 : NMB Bank started its integrated operation from Sunday after a historic merger with four financial institutes - Pathivara Bikash Bank, Clean Energy Development Bank, Prudential Finance including NMB Bank itself. The meerged bank has retained the name NMB Bank.

Speaking at the programme, NMB Bank Chiarman Pawan Kumar Golyan said that with the merger, the bank now aims at a spot among the country’s five major commercial banks.

“We now easily can meet the target within two years. We are committed to making the bank an outstanding bank,” said the bank’s CEO Upendra Poudyal. 

NMB Bank’s integrated operation following the merger was inaugurated by Deputy Prime Minister Bijaya Kumar Gachchhadar.

Now the bank has a paid-up capital of Rs 6.20 billion, including the reserve fund. The bank was transformed as commercial bank seven years ago after operating as a Class C financial institution for 18 years.

“We hope to easily meet the new paid-up capital requirement of Rs 8 billion in the next two years,” says Poudyal.

According to Podyal, NMB’s foreign partners, Young Lian Malaysia and FMO of the Netherlands, are also going to increase the investment to help raise the paid-up capital.

FMO is going to make a new investment of 20 percent of the paid-up capital after merger. The bank expects that partnership with FMO will assist in energy, international business and capital market and also help create a strong capital base.

After the merger, NMB’s total deposit has reached Rs 54 billion and loan Rs 41 billion. Now the bank has 39 branches, 42 ATM outlets and seven extension counters.