KATHMANDU, Aug 4: Pokhara-based Kaski Finance Ltd (KFL) and Kamana Development Bank (KDB) have announced that they would undergo merger. KDB's chairperson Rajendranidhi Koirala and KFL chairperson Madan Sharma signed a memorandum of understanding (MOU) for merger on Monday.
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The two institutions have agreed to name the merged entity as 'Kamana Development Bank'.
Similarly, the merged unit will use the logo of Kaski Finance. Following the merger, Rajendra Nidhi Koirala will become the chairperson, Toyaraj Adhikari as the CEO and Umesh Kumar Acharya as the deputy CEO, according to a joint press release issued on Monday.
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