26 Feb, 2023

10 things to know about Merger of Himalayan and Civil Bank

Himalayan Bank Limited (HBL) has acquired Civil Bank Limited (CBL) in Nepal, with the joint transaction beginning on Falgun 12, 2079 BS. On Ashad 29, 2079 BS, both Himalayan Bank and Civil Bank reached an initial agreement, Memorandum of Understanding (MOU). The acquisition of the Himalayan Bank and the Civil bank was approved by the Nepal Rastra Bank. The new bank will operate under the name "Himalayan Bank Limited" with Ashok Shamsher Rana as CEO. The swap ratio for the acquisition is 100:80.28, which means that every hundred shares of CBL will be converted into 80.28 shares of the new bank. If you have

100 shares in Civil Bank, you will now have 80.28 shares in Himalayan Bank after the merger.Himalayan Bank has currently (x) no. of branches and Civil Bank has (y) no. of branches. Now, after the merger, the total number of branches will be (z).This acquisition follows HBL's unsuccessful merger agreement with Nepal Investment Bank. Now, with the merger official, there are numerous questions from users from both banks.Questions regarding Himalayan and Civil Bank Merger What is the name of the bank after the merger of Himalayan Bank and Civil Bank?Ans: The name will remain the same as “Himalayan Bank Limited”What will happen to the Civil Bank’s Branches all over Nepal after the merger?Ans: After the merger, the Civil bank’s branches will run with Himalayan Bank’s name.Will my Civil Bank account number change?Ans: Yes, your account number will be changed.What will happen to my Demat account?Ans: Your Demat account will not change but your CRN number will get change and you will get the new CRN number through email/message. What if I already have an account with Himalayan Bank, will it change?Ans: No, you don’t need to worry if you already have a savings account in Himalayan Bank. It will remain unchanged.Will the existing ATM/Debit? Credit card work or do they need to be replaced?Ans: You can still make transactions with the card until it's validation period.Can I use the checkbook from Civil Bank?Ans: The account holder can use the checkbook of the old bank until the expiry date.What will happen to my loan in Civil Bank?Ans: Since both of the banks have different base rates, the interest percentage(%) will change according to Himalayan Bank. What will happen to my Civil Bank’s Banking App?Ans: You need to download Himalayan Bank’s Banking App. The download link is available either through Civil bank's existing mobile banking app, or through SMS.What if I have accounts in both the Himalayan Bank and Civil Bank?Ans: In this situation, the bank’s representative will call you to close one account. Himalayan Bank will help you out if any problem occurs.Reference:Himalayan Bank’s Website linkMy Rebulica Saral Banking Sewa- “Saral-ify” your banking experience. Our Team actively seeks ways to ‘Saral-ify’ your overall banking experience. With Saral Banking Sewa, you can choose the best financial products such as loans, credit cards, fixed deposits, savings accounts, and many more. This is done through a safe, simple, and easy-to-use platform. Our platform enables you to compare numerous financial solutions with ease and provides you with unbiased recommendations. Like this blog? Your friends and family may like it too!Share this blog with your family members and friends who had bank accounts in Civil or Himalayan Bank.Please provide us with your feedback in the comment section below.Connect with us for banking updates onFacebookInstagram