Sunrise acquires Narayani National

KATHMANDU: Joint operation of Sunrise Bank and Narayani National Finance has commenced from Thursday. Sunrise Bank — a class ‘A’ financial institution — has acquired Narayani National Finance, which is a class ‘C’ financial institution. After acquiring Narayani National Finance, the paid-up capital of Sunrise Bank has reached around Rs four billion.  The bank will provide its services through 67 branches and 69 ATMs, according to Sunrise Bank CEO Ratna Raj Bajracharya. The total deposit of the bank has reached Rs 50 billion against lending of Rs 43 billion. The Nepal Rastra Bank had issued Acquisition Bylaw on April 24, 2014.