Banks Getting Ready for Big Mergers: Six Banks Give Thumbs Up to Join Forces
Kathmandu : Commercial banks in Nepal are actively considering mergers, with 20 out of 32 institutions gearing up for potential consolidation despite not participating in major mergers in the previous fiscal year. Six key banks, including Prime Commercial Bank, NMB Bank, Nepal SBI Bank, Siddhartha Bank, Citizens Bank, and Machhapuchchhre Bank, have prioritized big mergers. While some reported profits, others distributed dividends ranging from 4.21% to 14%.
Notably, Standard Chartered, Everest Bank, Sanima Bank, and Nabil Bank have opted out of big mergers, maintaining separate financial transactions. The Ministry of Finance has established a committee to oversee the merger process, but the impact of its efforts remains to be seen.