Nepal Investment Bank (NIB) and Mega Bank on Wednesday started the unified business, completing their seven-month-long merger process. With the merger coming to a logical conclusion, NIB's long effort of becoming a larger bank has finally materialized. The merged entity is named Nepal Investment Mega Bank (NIMB). NIB approached the Himalayan Bank last year for the union and the two institutions even struck a merger deal in May 2021. However, the merger was aborted after seven months in January 2022. The annual general meeting of the Himalayan Bank rejected the bank's merger with NIBL after the Employees Provident Fund (EPF) and a group of investors led by Manoj Bahadur Shrestha refused to go ahead with the merger. Following the failed attempt, NIB approached Mega Bank and signed a memorandum of understanding (MoU) on June 10, 2022, agreeing on a swap ratio of 100:90 and that the entity formed after the merger will use the core banking system of NIB.

The new entity NIMB has a seven-member board led by Chairman Prithvi Bahadur Pande, while Prajanaya Rajbhandary, Kabi Kumar Tibrewala, Gopal Khanal, Madan Kumar Acharya, Mukti Ram Pandey and Manju Basnett are the directors.

NIB CEO Jyoti Prakash Pandey has been named the CEO of NIMB. Post-merger, the bank's paid-up capital has reached Rs 34.43 billion while deposits and extension of loans stood at Rs 360 billion and Rs 329 billion, respectively. The bank's total capital now stood at Rs 58 billion and its customer base has increased to 3 million. NIB is one of the country's oldest commercial banks, established in 1986 as Nepal Indosuez Bank. It is Nepal's second private sector bank which was established as a joint venture between Nepali and French partners. In 2002, a group of Nepali investors led by Pande acquired the 50 percent shareholding of the French partner Credit Agricole Indosuez in Nepal Indosuez Bank, and named the bank Nepal Investment Bank Ltd. Mega Bank started its operations on July 23, 2010 and had completed 12 years of operation in the banking sector.