18-12-2009
Kist Bank Ltd, a
commercial bank, has
opened its new branch
office in Gongabu of
Kathmandu.
15-12-2009:
With the commercial
banks mulling over
hiking interest rates on
lending, life could be
tougher for those
seeking loan from the
banks. Since interest
rate on deposits is
increasing, there is
pressure on the banks to
increase interest in
lending rates.
30-11-2009:
Standard Chartered Bank
has been crowned as the
Banker’s bank 2009 by
the Bankers magazine.
The award was given in
regard of the growth and
long-term strategic
commitment of the bank
to Asia. The bank was
given the title for its
good performance during
the fiscal year
2008-2009.It was also
named as the Best Bank
for Asia.
24-11-2009
Liquidity crunch has
started fuelling the
banks interest rates
that were till last year
hovering around and
below five percent and
moreover, the commercial
banks have lost their
attractions in the
treasury bills. The
heavy withdrawal from
commercial banks due to
the government’s fears
has also compelled banks
to increase the interest
rates which have reached
to 11 percent by now.
19-11-2009
Sunrise Bank has opened
its 25th branch in
Biratnagar. The new
branch was opened by
Sriniwas Sarada,
director of the bank.
According to Suman
Neupane, general
manager, the new branch
has been opened to
provide modern banking
service and promote
small and medium
enterprises
17-11-2009
Rastriya Banijya Bank (RBB)
has declared a first
quarter net profit of Rs
319.1 million. The bank
also said it collected
Rs 65.65 billion in
deposits in the period.
Compared to the same
period of the previous
fiscal year, the
collections were 15.68
percent more.
15-11-2009
The ninth Annual General
Meeting of Kumari Bank
held Sunday declared
that it would provide 10
percent bonus shares and
redeem the existing
promoter share to 51
percent. The remaining
19 percent promoters
shares will be sold to
public.
Loans floated by
commercial banks during
the first two months of
the current fiscal year
have outsized their
volume of deposit
collections. In
comparison to the same
period last year, the
flow of loans has
increased by 3.5 percent
while the collection of
deposits saw a meager
increment of 1.7
percent.
07-11-2009:
Everest Bank Ltd earned
an operating profit of
Rs 291.70 million during
first quarters of the
current fiscal year. The
operating profit of the
bank up to mid-October
rose by 24 % as compared
to Rs 234.9 recorded
during the same period
last fiscal year.
06-11-2009
Everest Bank Limited has
received an in-principal
approval from the
central bank of Nepal to
open its first
international branch in
New Delhi. The expansion
of branch was made
possible according to
NRB's provision on
monetary policy to let
banks to open
international branches
28-10-2009:
The board meeting of
Bank of Kathmandu held
on Wednesday decided to
propose 40% bonus share
and 7.37% cash dividend
to its shareholders.
27-10-2009
Sunrise Bank and Nepal
Stock Exchange Tuesday
signed an agreement on
to list 12.5 million
units of the bank´s
shares at the sole
secondary stock market
of the country.
12-10-2009:
Bank of Kathmandu has
started issuing BoK Visa
Credit Card. Announcing
the launch of the new
card, BoK said that a
portion of the fees from
the card will be used to
support the fight
against climate change
through programs of
National Trust for
Nature Conservation. The
card is also valid in
India.
06-10-2009
Rastriya Banijya Bank,
the largest bank of the
country in terms of
deposits and coverage,
has floated a plan to
make its net-worth
positive and lower
Non-Performing Assets to
less than 5 percent
within the next two
years.
In an
unprecedented case seen
in Nepal´s capital
market, shareholders of
Standard Chartered Bank
lost Rs 1,440 per share
in a single trading day
on Tuesday, prompting
Nepal Stock Exchange
index to shed 23.69
points
24-09-2009:
The crisis resulted due
to the shortage of
higher denomination
currency notes has also
affected the monetary
transactions in
financial institutions
outside of the Kathmandu
Valley. Damauli branch
of Nepal Bank Limited
stopped all its
transactions from
yesterday after Nepal
Rastra Bank Pokhara
branch office failed to
provide money.
23-09-2009
Sunrise Bank has opened
its 23rd branch in
Rajbiraj of Saptari
district. Bachharaj
Tated, director of the
bank, and Shree Ram
Kabara, president of
Rajbiraj Chamber of
Commerce and Industry,
jointly inaugurated the
new branch on Wednesday.
22-9-2009
Global Bank Limited has
opened a new branch in
Basundhara of Dhapasi.
Chairman of the bank
Chandra Prasad Dhakal
inaugurated the branch
amid a function on
Monday. With this new
branch, the number of
branches of the bank has
reached 20
Nepal
Youth Society, Kathmandu,
has conferred Rajan
Singh Bhandari, chief
executive officer of
Citizens Bank
International, with
National Service Award
2009, recognizing his
commitment, involvement
and contribution in the
development of the
banking sector
19-09-2009:
Nepal Bank Ltd (NBL) has
resumed services from
four branches, which are
among the branches that
were closed during
decade-long Maoist
insurgency, for the
benefit of service
seekers. The branches in
Surunga and Gauradaha of
Jhapa district,
Barahathawa of Sarlahi
and Jitpur of Bara
district were
inaugurated separately
on Thursday.
15-9-2009
Citizens Bank
International Ltd on
Tuesday declared a net
profit of Rs 15.8
million and an operating
profit of Rs 184.5
million in fiscal year
2008/09. The 3rd annual
general meeting (AGM) of
the bank held Tuesday
also approved
distribution of 10
percent dividend to
shareholders and a 1:1
rights issue
10-09-2009:
With the book closure (a
cutoff date for
transferring shares for
the benefit of cash
dividend and bonus
shares) of Nabil Bank
and IME Financial
Institution, Nepal Stock
Exchange index dipped by
27.42 points to close at
630.11 points on
Tuesday.
03-09-2009:
Nepal Investment Bank
and China Development
Bank last week signed a
Memorandum of
Understanding (MoU),
according to which the
CDB will provide
financial support to the
projects recommended by
NIB to promote Nepal´s
economic development.
01-09-2009
Rastriya Banijya Bank, a
state owned commercial
bank, posted a record
net profit of Rs. 2.03
billion last fiscal
year. “By making a
successful recovery of
Rs. 2.4 billion cash
last year from
Non-Performing Loan, the
bank succeeded to bring
down the Non-Performing
Asset to 15 per cent,”
according to Bank CEO
Janardan Acharya.
26-08-2009:
The meeting of Board of
Directors of Nepal
Investment Bank, the
largest private sector
bank in terms of deposit
and lending volumes, has
proposed 20 percent cash
dividend to its
shareholders.
22-08-2009:
Indreni Soybean of
Kathmandu and United
Brewery of Hetauda have
paid their outstanding
loans to Nepal Bank
Limited (NBL) although
there was no collateral
security for the loans.
21-08-2009:
Nabil Bank has decided
to provide 35 per cent
cash dividend and 50 per
cent bonus share from
the profit of the fiscal
year 2008-09, the Board
of Directors decided on
Thursday but the
proposal needs to be
approved by Nepal Rastra
Bank and next AGM
17-08-2009:
Nepal Bank Limited, the
country’s oldest bank,
earned a profit of Rs.
1.113 billion, including
taxes and bonuses,
during the fiscal year
2065/066. During the
period, the bank was
able to make a net
profit of Rs. 794.4
million. The operating
profit of the bank stood
at Rs. 59.26 million in
the same period.
11-08-2009:
Everest Bank Limited has
stated that it earned a
net profit of Rs 624
million in 2008/09
fiscal year, which is 38
percent rise over
previous year´s profit.
The operating profit
during the year touched
Rs 1.06 billion,
compared to Rs 818.2
million of the previous
year. Its deposits
increased by 39 percent
and loans grew by 30
percent during the
period.
06-08-2009
Laxmi Bank and Beed
Invest have signed a
memorandum of
understanding (MoU) to
introduce portfolio
management services to
Laxmi Bank customers,
according to a press
statement issued by the
bank on Thursday. As per
the agreement, Laxmi
Bank and Beed Invest
will work together to
develop financial and
investment products for
Laxmi Bank´s customers,
who are keen at
investing in the stock
market. Beed is a
portfolio manager
authorized by Securities
Board of Nepal.
05-08-2009
Nepal Bangladesh Bank (NBB)
is on the way to making
a turnaround as it has
intensified the recovery
of bad loans. According
to the financial report
of the last quarter made
public by the bank, its
capital fund has become
positive by 8.08 percent
from its negative status
of 8.16 percent in the
third quarter of the
last fiscal year
2008/09.
03-08-2009
As many as 74,858
applicants for ordinary
shares of Prime Bank
have been allotted
shares. Three million
units of shares went on
sale from May 24-27
which attracted 335,448
applicants including the
bank's 155 employees.
The per share value of
the ordinary shares
stands at Rs. 100
01-08-2009
The Biratnagar branch of
Rastriya Banijya Bank (RBB)
earned the profit of Rs.
180 million last fiscal
year. Despite the
opening of many private
banks, the bank
succeeded in earning the
net profit worth Rs.
144.7 million in the
fiscal year 2065-066
23-07-2009
Sunrise Bank has
launched two new schemes
-- ´Sunrise Lakhapati
Bachat´ and ´Sunrise
Gold Loan´ for its
customers on Thursday.
The bank said it had
also expanded the
existing Sunrise
Overdraft Saving
Account. Under the
´Sunrise Gold Loan´
scheme, customers can
take loan amount of
minimum Rs 50,000 and
maximum Rs 20 million
against gold collateral
at 10 percent interest.
NIC Bank
has opened two new
branches in Surkhet and
Dhangadhi. The Surkhet
branch was inaugurated
by Jagdish Prasad
Agrawal amidst a
function held on
Wednesday
22-07-2009
Even though the
government has announced
a two-year
recapitalization plan
for Rastriya Banijya
Bank (RBB), Finance
Minister Surendra Pandey
said on Monday that the
actual implementation of
the plan would depend on
the performance of the
bank itself. Pandey
says: “All the public
sector entities are
faring badly despite
injecting of capital and
other reform efforts.
The government, hence,
is no more willing to
inject more capital in
them".
21-07-2009:
Bank of Kathmandu has
installed a new
automated teller machine
(ATM) at ATM Lounge in
Kumaripati (Lalitpur).
14-7-2009:
Nepal Credit and
Commerce Bank has
installed automated
teller machines (ATMs)
in Butwal and
Siddharthanagar. Keshav
Raj Acharya, chief
manager of Nepal Rastra
Bank, inaugurated the
ATMs on Tuesday.
Laxmi
Bank will fine account
holders of the bank who
are repeatedly found
issuing bad checks, i.e.
checks issued
intentionally without
sufficient balance in
the accounts.
12-07-2009:
To facilitate trade
finance and remittance
transfer between Nepal
and China, Everest Bank
has tied up with Bank of
China. Under the
arrangement, Nepali
traders can open letter
of credit as well as
transfer and receive
money directly from
China.
Global
Bank Limited on Sunday
opened a new branch in
Gaighat of Udaypur. On
Thursday, it had opened
a branch in Dadeldhura
and also brought into
operations automated
teller machine (ATM) to
better serve serve its
customers.
NIC
Bank has opened a new
branch in Lahan. The
branch was inaugurated
by Jagdish Prasad
Agarwal on Sunday. With
the opening of this
branch, NIC has become
the first private
commercial bank to reach
Sagarmatha zone
10-07-2009:
NIC
Bank has opened its 20th
branch in Gaighat of
Udaypur on Friday. This
branch is connected to
all other branches via
VSAT network, enabling
real-time online
connectivity.
The bank has also
launched a new deposit
scheme, Mero Bachat,
under which customers
can open an account with
only Rs 10. Similarly,
the bank has re-launched
NIC Life Saving Account,
a saving account which
entitles the account
holders to complete
health check-up at
Norvic International
Hospital free of cost.
Everest Bank Ltd has
opened its 32nd branch
at Lagankhel on
Thursday. Kush Kumar
Joshi, president of the
Federation of Nepalese
Chambers of Commerce and
Industry, inaugurated
the branch
A dispute
has arisen between
applicants for Sunrise
Bank shares and NMB
Bank, the share issue
manager, after the issue
manger disqualified
4,657applications for
1,173,599 share units,
citing serious flaws in
the application process.
08-07-2009:
Nepal Rastra Bank on
Monday withdrew the
suspension of the board
of Bank of Kathmandu
after disputing board
members agreed to patch
up their differences and
work together for the
growth of the depositors
and shareholders.
06-07-2009:
Laxmi Bank opened a new
branch at Parsa Bazaar
of Chitwan on Sunday,
its 19th branch in the
country and second in
Chitwan. The bank has
already opened 15 ATMs
in addition to around
400 payment agents
across the country
26-06-2009:
As part of its
initiative to extend
modern banking
facilities to the people
living in remote
villages, Everest Bank
Limited (EBL) has
launched Ghar Dailo
Banking Sewa -- a mobile
banking service -- in
Bhaktapur. The service
launched on Wednesday is
being offered in five
VDCs including Nagarkot,
Gundu.
A board
meeting of Nepal Rastra
Bank (NRB) on Thursday
decided to immediately
make public the “due
diligence report” (a
detailed report of a
bank) on the status of
Bank of Kathmandu (BoK).
The BoK management had
recently withdrawn a
case filed against NRB--the
central bank--against an
NRB decision, taken a
month ago, to take over
the management of BoK.
16-06-2009
Himalayan Bank Limited
opened a branch in
Swayambhu Tuesday, its
22nd branch so far. Bank
Chairman Manoj Bahadur
Shrestha inaugurated the
new branch
NMB Bank
has brought its ninth
branch into operation
from Monday. The newly
opened branch in Thaiba
of Lalitpur district,
was inaugurated by NMB
Chairman Pawan Kumar
Golya. The bank is
planning to open two
more branches within the
current fiscal year so
that the total number of
branches reaches 11.
13-06-2009
Kumari Bank has opened a
new branch in Butwal.
The branch was
inaugurated by Shiva
Ratan Sharada, chairman
of the bank, on Friday,
according to the bank.
12-6-2009
The trading of ordinary
shares of Citizen Bank
International (CBI) and
Bank of Asia (BoA)-Nepal
started in the Nepal
Stock Exchange (NEPSE)
from Thursday. The NEPSE--the
sole secondary market in
the country--had listed
the shares of both
commercial banks for
trading a few days ago