Jeevan Bikas Laghubitta Completes Merger With Garibi Nyunikaran Laghubitta & Solve Laghubitta
September 7, 2020 | Investopaper
Jeevan Bikas Laghubitta, Garibi Nyunikaran Laghubitta and Solve Laghubitta have successfully completed the merger. These three microfinance will start the joint transaction after the merger from Bhadra 22, 2077. The joint transaction will be in the name of ‘Jeevan Bikas Laghubitta Bittiya Sanstha Limited.
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Nepal Rastra Bank (NRB) provided the final approval for the merger on Shrawan 26, 2077. Likewise, the Office of company registrar has also approved the proceeding for the merger.
For the purpose of Data Migration, all three microfinance have decided to close all the banking services on Bhadra 19, 20 and 21.
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About Jeevan Bikas Laghubitta
Jeevan Bikas Laghubitta is a national level ‘D’ Class Financial Institution. It formally started its microfinance operation from Falgun 16, 2075. The corporate office of the microfinance is located at Katahari-2, Morang.
Based on the unaudited fourth quarter report of the fiscal year 2076/77, Jeevan Bikas Laghubitta has a paid-up capital of Rs 14 crores and reserve & surplus of Rs 55.10 crores. Until end of Ashad 2077, the microfinance has floated the loans of Rs 10.66 Arba. Similarly, Jeevan Bikas Laghubitta earned a net profit of Rs 34.14 crores.
Note: After the merger, the capital as well as other financial indicators will vary.
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