Himalayan Bank has agreed to acquire Civil Bank with a swap ratio of 81 percent. Previously, the process was halted after Himalayan Bank decided to acquire the bank with a swap ratio on the basis of DDA. However, the banks reagreed about the merger on Tuesday.
As per a source, Himalayan and Civil Bank will sign the merger agreement on Wednesday.
Himalayan Bank is searching new merger partner after its merger procedure with Nepal Investment Bank ended abruptly.
According to the preliminary agreement, the joint entity will be name Himalayan Bank. The bank will have CEO of Himalayan bank as CEO and CEO of Civil Bank will be posted as Deputy CEO of the joint entity.
