Civil receives LoI

KATHMANDU: Nepal Rastra Bank has provided letter of intent (LoI) to Civil Bank Ltd for the acquisition of Hama Merchant and Finance Ltd and Unique Finance Ltd.

Post-acquisition, the name of the entity will be Civil Bank Ltd and the current composition of the board of directors and senior management of Civil Bank will not change.

After the acquisition, the total paid-up capital of Civil Bank will reach Rs 5.10 billion and the total deposit figures will be Rs 33.77 billion and total loan figure will be Rs 31.57 billion. Kishore Maharjan, CEO of Civil Bank, said that the acquisition will increase the business capacity of the bank making it easier to invest in big infrastructural and industrial projects.