KATHMANDU: Swarojgar Laghubitta Bittiya Sanstha Limited has started integrated financial transactions under the name of Swarojgar Laghubitta Bittiya Sanstha Limited by acquiring Win Nepal Laghubitta Bittiya Sanstha Limited. Gyanendra Prasad Pandey, Chairman of Swarojgar Laghubitta Bittiya Sanstha Limited and Kumar Raj Joshi, Acting Chairman of Win Nepal Laghubitta Bittiya Sanstha Limited jointly inaugurated the integrated transaction amidst a function held in Kathmandu.

Along with the integrated transaction, the organization’s branch network, number of members, loans and savings transactions will be operated through a single institution. This is expected to further strengthen the financial capacity and operational efficiency of the organization.

Prior to the integrated transaction, the paid-up capital of Swarozgar Laghubitta was about Rs. 89.56 crore and the paid up capital of Win Nepal Laghubitta was about Rs. 8.43 crores, while after the merger of both the institutions, the paid-up capital of the two institutions was about Rs. 97.99 crores.

Similarly, after the integrated transaction, the total number of branches has reached 112, the number of active members has increased to more than 132,000 and the number of employees has reached about 619. Also, the total loan investment of the integrated organization is about Rs. 11.71 billion and the total savings are about Rs. 5.88 billion.

Amidst the increasing competition in the microfinance sector, the merger of the two institutions is expected to expand the capital base, reach and operational capacity of the organization as well as help in providing financial services more effectively to the rural and disadvantaged sections. With the launch of the integrated transaction, Swarojgar Laghubitta aims to move forward as a stronger financial institution and provide quality, easy and accessible financial services to its members and customers.