30 June, KATHMANDU: The NIC Bank and Bank of Asia have begun transaction after merging as the NIC Asia Bank on Sunday.
The unified bank was inaugurated by Nepal Bank Governor Dr Yuvraj Khatiwada at Thapathali Trade Tower.
This is the first time two ‘A’ class commercial banks have merged. Following the merge, NIC Asia becomes the fourth largest bank of Nepal. The new bank has a paid up capital of Rs 5 billion while Rs 38 is deposit and Rs 38 billion the loan investment.
Trilok Chandra Agrawal is the Chairman of the Board of Directors of the Bank while the members are Tulsiram Agrawal, Lokmanya Golchha and Ram Chandra Saghai.
Sashin Joshi is Chief Executive Officer.
