Fewa and Business universal opted out from merger process

Kathmandu December 14- NRB directive to increase paid up capital of banks and financial institutions went on floor 5 months back, though after 5 months those institutions that entered merger process in order to increase paid up capital are backing out. The last example of the same is Fewa development bank and Business universal development bank.

These institutions are opting out from merger process after a debate proceeded among the management committee. This was a second attempt of both companies towards merger which could not get succeeded.

Internal dispute among the management committee of Fewa Development Bank resulted the end of merger process. Earlier, world development bank and Fewa finance merged into Fewa development bank.