Jul 13, 2024

Himalayan Bank and Civil Bank started integrated transaction

Himalayan Bank and Civil Bank started integrated transaction

KATHMANDU: Himalayan Bank Limited (HBL) has commenced its joint operation as “Himalayan Bank Limited” from Friday i.e. February 24, 2023 (Falgun 12, 2079)  after successfully acquiring Civil Bank Limited (CBL). Mr. Prachanda Bahadur Shrestha, Chairman, HBL announced the commencement of joint operation amidst a ceremony.

After acquiring CBL, the Authorized Capital, Paid-up and Issued Capital, Total capital and Total Assets of the Bank stands at Rs. 26 Billion, Rs. 21.65 Billion, Rs. 34 Billion and  Rs. 334 Billion respectively where as the total Deposit and Loan stands at Rs. 274 Billion and 250 Billion respectively. Likewise, from Friday,  the Banks has been happily serving its customers from total of 189 Branch Offices, 20 Extension Counters and more than 263 ATM Booths spread all over Nepal.

Addressing the ceremony, the Chairman, HBL, Mr. Shrestha said that the acquisition of CBL has been done considering the current financial situation of the country and the potential of market expansion, investment environment and overall  development of the Bank.

Similarly, Mr. Pradip Jung Pandey, Chairman, CBL, stated that the unity of both the Bank is to be one of the most efficient and capable bank of the industry. The CEO, HBL, Mr. Ashoke SJB Rana said that HBL has become one of the most efficient and bigger Bank of the country. He added that the Bank shall focus on providing maximum returns to the investors and offer product and services based on latest technology.

Mr. Ujjal Rajbhadary, GM, HBL, thanked all the regulators, Late Himalaya S. Rana, Board of Directors and all the institutions and individuals who contributed and assisted the acquisition process.

Post acquisition, the current Board of Directors of HBL including the chairman, Mr. Prachanda B. Shrestha will continue as the BOD and the Chairman. Likewise, Mr. Ashoke SJB Rana, CEO, HBL shall continue to remain as CEO of HBL. HBL has acquired CBL at 1:0.8028 swap ratio.