Nepal Rastra Bank (NRB) has given final approval to the merger of Pokhara Finance with Samriddhi Finance. With the approval made public on Wednesday, the way has been opened for both the finance companies to move forward as an integrated entity.

After the approval from the Nepal Rastra Bank, the merger process will formally move forward. Earlier, the board of directors and general meeting of both the finance companies had approved the merger agreement.

The names of the joint ventures, chief executives and preliminary action plan will be announced soon. The merger is expected to help improve risk bearing capacity, strengthen capital structure and expand services.

The two finance companies have decided to merge with the aim of strengthening competition, regulatory requirements and institutional capacity in the financial sector.

Now, as per the directive of the Nepal Rastra Bank, the necessary process will be started for the implementation of the integrated transaction.