In a special general meeting organized today, Narayani Finance Ltd. and National Finance Ltd. decided to merge together. The company is named "Narayani National Finance Ltd." after the amalgamation. The merged company will be issuing 1:0.5 right shares to its shareholders to upgrade itself as a development bank.
At present, NFC is providing its services from three outlets, its corporate office in New Road, Kathmandu, its branch office located in Itahari and a Liaison centre in Banepa. Likewise, NFL is delivering its services from its corporate office in Chitwan and a branch office in Ratnanagar. However the head office of the merged company will be located in Kalikastha, Kathmandu. Mr. Umesh Singh Bhandari will be heading Narayani National Finance Ltd as the Chief Executive Officer of the company.
Meanwhile, the company also announced to issue more right shares in future to develop into a commercial bank.
Source:
Jamb News Service
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Monday, June 1, 2009
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