NMB Bank and Kanchan Development Bank commence joint operations post acquisition
23 Aug, 2020
NMB Bank has commenced joint operations with Kanchan Development Bank Limited from 7 Bhadra, 2077. Post acquisition, the bank’s paid up capital has increased to NPR. 14.45 Billion and the size of its reserve fund has increased to NPR. 7.35 Billion. Post acquisition, the unit is called “NMB Bank” and its Head Office remains at Babarmahal, Kathmandu.
With the commencement of joint operations, NMB has a balanced network and brand presence in the Provincial structure of the country which enables it to work towards its objective of providing access to finance amongst the masses in semi urban and rural areas to achieve its goal of sustainable banking.