NIC Asia Laghubitta and Swadeshi Laghubitta started joint business

Kathmandu, March 21

Nic Asia Laghubitta Bittiya Sanstha Ltd. and Swadeshi Laghubitta Bittiya Sanstha Ltd. officially started their integrated business from today onwards i.e. Chaitra 8.

The two companies have started integrated business after receiving approval from the Registrar of Companies to merge on Falgun 23. After the merger, the company was renamed NIC Asia Laghubitta Bittiya Sanstha Ltd.

After the merger, the central office of the company will be located at Itahari Sub-Metropolitan 9, Sunsari, which is currently the central office of the Swadeshi Laghubitta Bittiya Sanstha. At present, the paid-up capital of NIC Asia Sanstha was Rs. 1 arba 48 crore and the paid-up capital of Swadeshi Sanstha was Rs. 27 crore 6 lakh. After the merge of two companies the present paid of capital is 1 arba 75 crore 60 lakh.

Total of 150 branches of NIC Asia Laghubitta and 85 branches of Swadeshi Laghubitta, the total number of branches has increased to 223 after the merger. The company has informed that it will provide microfinance services to more than 135,000 members after the merger. Similarly, the company’s loan investment is Rs. 15 billion.