Womi and Nagarik Laghubitta signed a memorandum of understanding for the merger on March 8 following which both microfinance companies endorsed the merger proposal through their special general meeting held on September 19. The SGMs also endorse a swap ratio of 100:72 for the merger.
Nepal Rastra Bank (NRB) has given final approval to Womi Microfinance (WOMI) and Nagarik Lagubitta for merger on November 22.
Womi Laghubitta has a paid-up capital of Rs 101 million and Nagarik Laghubitta has a paid-up capital of Rs 70 million.
The joint entity will be named Womi Laghubitta and will be headquartered at the head office of Nagarik Laghubitta.
