September 4: Vibor Society Development Bank, the merged entity of Society Development Bank and Vibor Development Bank has started integrated transaction from Friday, September 2.  The starting of integrated transaction of the bank was inaugurated by Governor of Nepal Rastra Bank, Dr Chiranjibi Nepal. After the merger, the paid-up capital of the bank has reached Rs 1.81 billion based on which the bank has become the biggest development bank of the country.

Meanwhile, deposit collection and loan extension of the integrated bank has reached Rs 14.07 billion and Rs 11.41 billion. Similarly, the bank at present has 42 branches, 1 extension counter and 12 ATMs which is also the biggest network among the development banks operating in the country. Moreover, the bank’s central operation will be carried out from the central office of former Society Development Bank at Dillibazar.

The bank has appointed Sushil Raj Parajuli as the Chairman of the Board of Director and Jhalak Prasad Khanal as Chief Executive Officer of the bank. Similarly, Ashok Raj Pandey, Dr Rup Jyoti, Hari Prasak Rimal, Rajesh Kumar Agrawal and Prem Raj Tiwari have been appointed as Board of Directors of the bank.