Nepal Rastra Bank (NRB) governor
Dr. Chiranjivi Nepal
unveiled the corporate logo of BoKLL amidst a programme.
After the merger, the paid up
capital of BoKLL has reached Rs. 4.57 billion.
The share swap ratio of 1:0.82
agreed between BOK and Lumbini Bank has also resulted capital reserve of Rs.
390 million in the books of merged institution.
As per the unaudited financial
figures published by both the banks as on April this year, total deposits and
loans of BoK was Rs. 40.72 billion and 34.85 billion respectively while Lumbini
Bank had mobilized deposits Rs. 22.94 billion and loans Rs. 20.36 billion.
Net profit of BoK and Lumbini
Bank up to April was Rs. 483.51 million and Rs. 277.93 million respectively.
The bank has also announced new
Board of Directors where Satya Narayan Manandhaar, Santa Bar Singh Thapa,
Govinda Prasad Sharma, Chop Narayan Shrestha and Prof. Hem Raj Subedi are
representing from BoK while representatives from Lumbini are Kedar Nath Gautam,
Subarna Lal Shrestha, Madan Lal Joshi and Dibya Nidhi Bista.
The meeting of the Board of
Directors on Thursday elected Manandhar as the chairman and appointed Ajay
Shrestha as the chief executive officer of the bank.
After the merger the bank has 74
branches, 63 ATMs, 7 extension counters and 33 branchless banking points
throughout the country.
The two banks had signed a
Memorandum of Understanding on 24th December last year for merger.
After receiving the in principle
consent from the central bank, both banks entered into merger agreement (Scheme
of Arrangement) and obtained specific approvals from the general meetings.
The NRB gave the final approval
for merger on last Friday.
Lumbini Bank was established 22
years ago while BoK is in operation for last 10 years.
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