CYC Nepal Laghubitta Merges With Adhikhola Laghubitta | Joint Operation From Falgun 30
March 2, 2023 | Investopaper
CYC Nepal Laghubitta Bittiya Sanstha Limited (CYCL) has successfully merged with Adhikhola Laghubitta Bittiya Sanstha Limited (AKBSL). After the merger, the company will commence joint transaction in the name of ‘CYC Nepal Laghubitta Bittiya Sanstha Limited’ from Falgun 30, 2079 BS.
Both the microfinance companies had already passed the agenda of merger from their respective Special General Meeting (SGM) held on Ashwin 7, 2079 BS (September 23, 2022). Similarly, Nepal Rastra bank granted final approval for merger on Poush 7, 2079 BS.
Earlier, these two microfinance companies signed MOU agreement for merger on Ashad 22, 2079 BS.
After the merger, the head office of the new company will remain at Sabhagrihachowk, Pokhara, Kaski.
As of Ashad’s end 2079 BS, CYC Nepal Laghubitta had a paid-up capital of Rs. 12.16 crores. Likewise, Adhikhola Laghubitta had a capital of Rs. 11.90 crores.
About CYC Nepal Laghubitta Bittiya Sanstha Limited
CYC Nepal Laghubitta Bittiya Sanstha Limited registered on 11 February 2019 as a ‘D’ class financial institution licensed by Nepal Rastra Bank. It started formal microfinance operation from 15 March, 2019. The head office is located at Baglung Municipality-3 Baglung. It currently operates in Baglung, Gulmi, Arghakhachi, Tanahun, Palpa, Lamjung, Myagdi, and Parbat.
About Adhikhola Laghubitta Bittiya Sanstha Limited
Adhikhola Laghubitta Bittiya Sanstha Limited is a ‘D’ class financial institution licensed by Nepal Rastra Bank. It was established on 26 August, 2016 [Bhadra 10, 2073 BS]. It commenced formal microfinance operation from 25 January, 2017 [Magh 12, 2073 BS]. It has an operating permission in ten districts. The head office is located at Bhirkot-1, Syangja.
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