Jeevan Bikas, Unique, and Manushi Microfinance Institutions Finalize Merger Agreement

March 13, Biratnagar – Three leading microfinance institutions in Nepal have advanced their merger process. Jeevan Bikas Microfinance Financial Institution Limited, headquartered in Katahari, Morang; Unique Nepal Microfinance Financial Institution Limited, based in Kohalpur, Banke; and Manushi Microfinance Financial Institution Limited, with its central office in Banepa, Kavrepalanchok, are moving forward with their merger.

The memorandum of understanding was signed by Vikramraj Subedi, Chairperson of Jeevan Bikas; Shiv Bahadur Chaudhary, Chairperson of Unique Nepal; and Veena Shrestha, Director of Manushi Microfinance. This agreement represents the largest merger to date in Nepal’s microfinance sector.

According to Sanjay Kumar Mandal, Chief Executive Officer of Jeevan Bikas Microfinance Financial Institution, the merger aims to strengthen the capital base of the microfinance institutions, provide technologically advanced financial services, and enhance public confidence in the financial sector. After the merger, the institution will operate under the name “Jeevan Bikas Microfinance Financial Institution Limited.”

The central office will remain in Katahari Gaunpalika–2, Morang district, where Jeevan Bikas is currently located. Sanjay Kumar Mandal will continue as the CEO. The paid-up capital of Jeevan Bikas currently stands at NPR 1.751232 billion, Unique Nepal at NPR 148.575 million, and Manushi at NPR 109.375 million. Jeevan Bikas serves over 315,000 members in 31 districts across Koshi, Madhesh, and Bagmati provinces through 160 branch offices with doorstep microfinance services. Unique Nepal provides financial services to more than 80,000 clients in 10 districts, while Manushi serves over 34,700 beneficiaries in 14 districts.

To facilitate the merger, a six-member Joint Merger Committee has been formed. Prakash Kumar Shrestha, Director of Jeevan Bikas, was appointed as the committee’s coordinator. Other members include Ashok Sitoula, Puran Prasad Chaudhary, Santaram Tharu, Navina Dhakwa Shakya, and Tara Kumar Rizal. Damodar Regmi, Deputy Chief Executive Officer of Jeevan Bikas, serves as the committee’s member secretary. The merger process is slated for completion by the end of Ashad 2083 (mid-July 2026), with integrated operations expected to commence thereafter.