November 1, 2021 | Investopaper
Nepal Seva Laghubitta Bittiya Sanstha Limited (NSEWA) and WEAN Laghubitta Bittiya Sanstha Limited have successfully completed the merger process and will start an integrated business from Karthik 15, 2078 BS.
The joint transaction after the merger will be in the name of WEAN Laghubitta Bittiya Sanstha Limited. Both the institutions have already received the final approval for merger from Nepal Rastra Bank on Bhadra 15, 2078 BS.
Nepal Seva Laghubitta Bittiya Santha Limited and WEAN Laghubitta Bittiya Sanstha Limited had signed the initial agreement for the merger on Mangsir 30, 2077 BS [December 15, 2020].
All the banking transactions of these microfinance companies will remain closed on Karthik 14 for the purpose of data migration.
After the merger, the head office will be located at Melamchi 13, Sindhupalchowk.
About Nepal Seva Laghubitta
Nepal Seva Laghubitta Bittiya Santha Limited is a ‘D’ class microfinance company of Nepal licensed by Nepal Rastra Bank. It started its business transactions on October 26, 2017 [ Mangsir 8, 2071 BS]. At current, Nepal Seva microfinance is operating in Bagmati Province. The head office is located at Phataksila, Sindupalchowk.
As of Ashwin end 2077, Nepal Seva Laghubitta has a paid-up capital of Rs 6.15 crores. Likewise, it has floated Rs 68.27 crores in loans and advances. [Based on the unaudited first quarterly report, FY 2077/78].
About WEAN Laghubitta
WEAN Laghubitta Bittiya Sanstha Limited is a ‘D’ class microfinance licensed by Nepal Rastra Bank. It initiated its business operation on April 8, 2019. The head office is located at Galchhi, Dhading. WEAN Laghubitta has a working area of Bagmati Province. The paid-up capital of microfinance is RS 1.46 crores.
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