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The company says the new launches are aimed at catering to its customers’ need for high-speed internet and contributing to post-quake relief and rebuilding works.</div> <div> </div> <div> The buyers of the devices will also get 500 MB data bonus for free. The company said the devices are available in all Ncell Centers, Ncell Shops and all authorized sales outlets.</div> <div> </div> <div> These high internet devices allow users to access internet at download speed of up to 21.6 MB per second and upload speed of up to 5.76 MB per second. Wireless routers allow up to 10 simultaneous users with battery backup of up to six hours. The speed of internet on these devices depends on speed available in the given locality and also on the external factors.</div> <div> </div> <div> The devices need a SIM along with data package to access the internet which enables Ncell subscribers to access internet services anytime, anywhere with Ncell 3G network. The devices are compatible to Windows and iOS.</div> <div> </div> <div> “Experiences across the world have shown that access to internet can much support relief and rebuilding works, and contribute to better manage post-quake impacts. Hence, respecting the need of the hour and customers demand, we have once again made high speed dongles and wireless routers available to our customers. We believe this will enable our customers to stay connected with the dear ones, businesses and support agencies across the world,” said Milan Sharma, corporate communications expert of Ncell.</div> <div> </div> <div> The dongles are available at Rs. 2699 (Including taxes), while wireless routers are available at Rs. 5399 (Including taxes). Customers can also get 500 MB data coming with the device transferred to their existing numbers along with the purchase of the device from Ncell Centers.</div>', 'published' => true, 'created' => '2015-06-07', 'modified' => '2015-07-29', 'keywords' => '', 'description' => 'Telecom giant Ncell has launched Ncell connect dongles and wireless routers. The company says the new launches are aimed at catering to its customers’ need for high-speed internet and contributing to post-quake relief and rebuilding works.', 'sortorder' => '2670', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 1 => array( 'Article' => array( 'id' => '2748', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (10-16 March 2014)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>NIC ASIA’s 16th AGM Held</strong></span></div> <div> NIC Asia Bank held its 16th Annual General Meeting in Biratnagar on 28th February. This is the first AGM held after the commencement of the operation as NIC ASIA Bank, formed through the merger of former NIC Bank and Bank of Asia. The AGM has approved the issue of cash dividend of Rs 20 per share for the year 2012/2013. Dividend will be distributed from 4th March 2014. For the fiscal year, the Bank’s deposit reached Rs 39.91 billion, lending to Rs 31.55 billion and posted a net profit of Rs 642 million. Jagadish Prasad Agrawal, Trilok Chandra Agrawal, Tulsiram Agrawal, Lokmanya Golcha and Ramchandra Sanghai were elected from the promoters shareholders group in the AGM. Similarly, Rajendra Prasad Aryal, Birendra Kumar Sanghai and Binod Kumar Pyakurel were elected unanimously for another term from public shareholders group as directors.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Everest Bank’s 73rd ATM at Machhapokhari</strong></span></div> <div> Everest Bank Limited has installed a new ATM at Machhapokhari. With this, the network of the Bank has now reached to 73 ATMs along with 50 branches, five Extension Counters and 22 Revenue Collection Counters. The ATM was inaugurated by Chief Executive Officer of the Bank AK Ahluwalia. The inaugural function was also attended by other dignitaries including brand ambassador of the Bank Sadichha Shrestha. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Nepal SBI Bank Launches Indian Railway Ticket Booking Utility </strong></span></div> <div> Nepal SBI Bank Ltd has started online ticket booking services for Indian trains for its customers. The service was started by Indian ambassador to Nepal Ranjit Rae on 28th February amid a ceremony. Deputy Governor Maha Prasad Adhikari participated in the ceremony as the special guest. According to a press statement from the Bank, the online ticket services provided through its online portal is the first of its kind in Nepal and is expected to benefit Nepalis who visit India for various proposes. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Kumari Bank’s ATM at Balkhu </strong></span></div> <div> Kumari Bank Limited has installed a new ATM at Balkhu on 5th March, 2014. The Bank has been providing modern banking services to its customers through 28 branches, two extension counters and 39 ATM locations throughout the country. </div> <div> </div> <div> <strong>Apex Development Bank Gets New CEO</strong></div> <div> Gobind Prasad Upadhyay has been appointed as the new CEO of Apex Development Bank. A recent meeting of Board of Directors of the Bank made the decision. Upadhyaya has been associated with various banks and financial institutions for the past 14 years. Prior to joining Apex Development Bank, he was the CEO of Jyoti Bikash Bank. </div>', 'published' => true, 'created' => '2014-03-10', 'modified' => '2014-03-10', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'NIC Asia Bank held its 16th Annual General Meeting in Biratnagar on 28th February. This is the first AGM held after the commencement of the operation as NIC ASIA Bank, formed through the merger of former NIC Bank and Bank of Asia.', 'sortorder' => '2589', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 2 => array( 'Article' => array( 'id' => '2705', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (3 - 9 March 2014)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Himalremit’s ‘Himalotsav’ to Hit the Road Soon</strong></span></div> <div> HimalRemit is going to organize a road show named ‘Himalotsav’ in different parts of the country. Accoridng to a press statement, this entertainment based road show comprising popular artists will not only entertain the families of HimalRemit customers, but will also inform them about HimalRemit’s remittance services. The road show will start from East Ilam, journeys through far western regions and ends at Baglung. ‘Himalotsav’ will have Indira Joshi and Nima Rumba performing their popular songs whereas Jeetu Nepal will entertain with his comedy acts. The shows will be held at Damak, Ilam, Birtamod, Dharan, Gaighat, Janakpur, Sindhuli, Chandranigahapur, Narayanghat, Dhangadi, Mahendranagar, Dang, Butwal and Baglung.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Samsara Money Transfer appoints Parash Khadka as Brand Ambassador </strong></span></div> <div> Samsara Money Transfer has appointed Parash Khadka, the Captain of national cricket team as its brand ambassador. As per the terms of the contract, Khadka will endorse the company’s products and services through advertising campaigns and other promotional programmes during the term of the agreement. “Paras’s choice was almost spontaneous for I could hardly think of another person befitting the values of Brand Samsara so well. He is a true son-of-the-soil, a focused leader, passionate and most of all, humble who will lead the numerous initiatives that are on the anvil,” said Suraj Chhetri, Director, Marketing and Business Development of Samsara. “I’m very happy and proud to be associated with one of a leading money transfer companies in Nepal,” shared Parash Khadka on his association. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Everest Bank’s ATM at Grande Int’l Hospital</strong></span></div> <div> Everest Bank Limited (EBL) has installed its new ATM inside Grande International Hospital premises. The ATM was jointly inaugurated by Chief Executive Officer of EBL AK Ahluwalia along with Chairman and Directors of Grande Hospital. With this, the network of the Bank has reached to 72 ATMs along with 50 branches, 5ndExtension Counters ad 22 Revenue Collection Counters.</div> <div> </div> <div> <span style="font-size:14px;"><strong>NIBL’s ATM at PADT Premises</strong></span></div> <div> Nepal Investment Bank Limited (NIBL) has installed its 77th ATM in the premises of Pashupati Area Development Trust (PADT) at Gaushala. The ATM was installed on the occasion of 28th anniversary of the Bank and Mahashivaratri. The ATM was inaugurated by the Member Secretary of PADT Dr Govinda Tandon in the presence of Bank’s Chairman Prithivi Bahadur Pande and CEO Jyoti Prakash Pandey. NIBL with a total number of 44 branches, has a customer base of about six hundred thousand and paid-up capital of over Rs 4 Billion. </div>', 'published' => true, 'created' => '2014-03-03', 'modified' => '2014-03-03', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'HimalRemit is going to organize a road show named ‘Himalotsav’ in different parts of the country. Accoridng to a press statement, this entertainment based road show comprising popular artists will not only entertain the families of HimalRemit customers, but will also inform them about HimalRemit’s remittance services.', 'sortorder' => '2549', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 3 => array( 'Article' => array( 'id' => '2676', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (24 February - 2 March 2014)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Everest Bank Renews Contract with Sadichha Shrestha </strong></span></div> <div> <img alt="Sadichha Shrestha" src="/userfiles/images/mm.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 105px;" />Everest Bank has renewed its contract with Sadichha Shrestha to continue her as its Brand Ambassador for further one year. Shrestha, former Miss Nepal has been promoting products and services of the Bank by featuring in advertisements as well as representing the Bank in different forums since last year. In a program held at the Bank’s head office, CEO AK Ahluwalia and Sadichha Shrestha exchanged the agreement. “Everest Bank is an established brand and is looked upon as a very strong Bank. Now, to make it a household name, Sadichha will continue to play an active role and we are quite hopeful in her ability to do so,” said Ahluwalia in the function. </div> <div> </div> <div> <span style="font-size:14px;"><strong>NMB Bank Opens Branch in Putalisadak</strong></span></div> <div> <img alt="NMB Bank" src="/userfiles/images/mm1(1).jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 65px;" />NMB Bank Ltd has opened a new branch in Putalisadak, making the total number of branches operating in the country 26. The new branch is a relocation of the Bank’s previous branch at Durbar Marg.. Presently, the Bank is providing its services through its branches, 30 ATMs and other alternative delivery channels in different parts of the country. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Civil Bank Starts Branchless Banking</strong></span></div> <div> <img alt="Civil Bank Starts Branchless Banking" src="/userfiles/images/mm2(1).jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 132px;" />Civil Bank has started its Branchless Banking service from Tharpu VDC of Panchthar district. The service was jointly inaugurated by the CEO of the Bank Kishore Maharjan and DSP Deep Shamsher Rana. “For justifying and moving forward towards fulfilling our mission of becoming every Nepali’s banking partner by extending all types of banking services, we have launched this service targeting farmers residing in villages to big businesses in cities,” said Maharjan. Through this new service, customers will be able to avail facilities like secure fund withdrawal, fund deposit, fund transfer from one account to another, mobile phone recharge, ATM cards, remittance facility, MobilemaiNagad facility, SMS alert, checking of account balance and printing of statements among others. The Bank also informed that its employees have been assigned to the area for arranging micro credit in a simplified manner to interested customers for running Small and Medium Enterprises as well as Agro-businesses. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Siddhartha Bank opens 42nd Branch in Birtamod</strong></span></div> <div> <img alt="Siddhartha Bank " src="/userfiles/images/mm3(1).jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 49px;" />Siddhartha Bank has inaugurated its 42nd branch at Birtamod, Jhapa on February 16. The branch was jointly inaugurated by the Chief District Officer of Jhapa Ekmani Nepal and Bank’s Director Poonam Chand Agrawal. According to a statement from the Bank, it will be providing a wide array of banking products and services along with ATM facility from the branch.</div>', 'published' => true, 'created' => '2014-02-25', 'modified' => '2014-02-25', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Everest Bank has renewed its contract with Sadichha Shrestha to continue her as its Brand Ambassador for further one year. Shrestha, former Miss Nepal has been promoting products and services of the Bank by featuring in advertisements as well as representing the Bank in different forums since last year.', 'sortorder' => '2519', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 4 => array( 'Article' => array( 'id' => '2615', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief ( 17 - 23 February 2014)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Everest Bank Donates Computers to School</strong></span></div> <div> Everest Bank Limited donated computers to Shree Triveni Higher Secondary School, a government school at Katari, Udayapur as a part of its Corporate Social Responsibility on 10th February. AK Ahluwalia, CEO of the Bank handed over the Computers to Balkrishna Karki, Head Master of the School amid a function organized at Corporate Office of the Bank. “Everest Bank is committed to making a difference in the lives of children through quality education. We are thus happy and proud to be involved in the effort to improve education and infrastructure across the rural Nepal,” said Ahluwalia in the event. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Beed Invest’s New Range Of Products</strong></span></div> <div> Beed Invest Limited, Nepal’s first operational portfolio management company licensed by Securities Board of Nepal (SEB0N) has launched a new set of products targeting individual as well as institutional investors. According to the company, the products aim at providing a steady and sustained return to its customers. The products ‘Lagani Briddhi Plus’, ‘Sanchaya Plus’ and ‘Expor Plus’ are catered to individual customers while ‘Paramarsha Plus’ and ‘Salaaha Plus’ are catered to institutional investors. While ‘Lagani Briddhi Plus’ caters to customers with a high risk appetite, ‘Sanchaya Plus’ is for customers with a lower risk appetite; and ‘Expor Plus’ caters to clients who already have an existing portfolio with Beed Invest, which will be reviewed, restructured and constantly monitored. “We are very happy to be continuously providing steady return to our existing clients despite the volatility in the stock market,” said Sujeev Shakya, Chairman of Beed Invest. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Civil Bank Launches ‘Hastakala Karza’</strong></span></div> <div> Civil Bank Limited has launched ‘Civil Bank Hastakala Karza’ targeting the Small and Medium Enterprises (SME) involved in handicraft business. “The primary objective of this product is to provide loans and other financial services to the handicraft business entrepreneurs in most efficient and hassle-free manner. It will promote the handicraft business in Nepal thereby increasing the export of the country’s handicraft products to a certain extent for enhancing the FCY revenue of the country,” said Kishore Maharjan, Chief Executive Officer of the Bank. The Bank has made arrangements for handicraft entrepreneurs to obtain a maximum loan limit of Rs one million without the need for any land and building as collateral under the Civil Bank Hastakala Karza. </div> <div> </div> <div> <strong><span style="font-size:14px;">Global IME’s Branchless Banking in Khudunabari </span></strong></div> <div> Global IME Bank has started branchless banking at Khudunabari, Jhapa. According to a statement from the bank, the service was started by handing over certificates to market representatives. On the same occasion, the Bank organized a programme to enhance financial literacy among the locals. Shanta Shivakoti, Chief of Marketing and Business Promotions of the Bank and Surendra Regmi, Chief Credit Officer of the Bank answered the queries of the locals in the programme. </div>', 'published' => true, 'created' => '2014-02-18', 'modified' => '2014-02-18', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Global IME Bank has started branchless banking at Khudunabari, Jhapa. According to a statement from the bank, the service was started by handing over certificates to market representatives.', 'sortorder' => '2459', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 5 => array( 'Article' => array( 'id' => '2573', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (7-16 February 2014)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Machhapuchchhre’s Limited Banking at Mahendranagar</strong></span></div> <div> Machhapuchchhre Banl Limited has opened a Limited Banking Outlet in Mahendranagar of Dhanusha. The outlet was inaugurated by the Director of the Bank Birendra Prasad Mahato. With the newly opened outlet, the Bank now has 54 branches, one extension counter and 65 ATMs. </div> <div> </div> <div> <span style="font-size:14px;"><strong>KIST Bank Gets New CEO, Dy CEO</strong></span></div> <div> Kumar Lamsal has joined Kist Bank as the new Chief Executive Officer (CEO) of the Bank from 2nd January. Similarly, Ashok Sherchan also joined office from the sane date as Deputy CEO. Before Joining KIST Bank, Lamsal was the CEO of Sanima Bank and Sherchan was the CEO of Prabhu Development Bank. According to a statement from the Bank, Lamsal has an experience of 24 years in the banking sector, whereas Deputy CEO Sherchan has been in the banking industry for </div> <div> 18 years. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Interaction Programme of Global IME</strong></span></div> <div> Global IME Bank conducted an interaction programme in Myagdi on 29th January, aiming to raise awareness about the banking services. The programme was held in the presence of the Chief District Officer (CDO) Chandra Bahadur Karki and was attended by the Chairman and members of Myagdi Chamber of Commerce and Industry, according to a press statement from the bank. The bank informed local business persons about services including small business loan and agricultural loan schemes along with the necessity of banking services. </div>', 'published' => true, 'created' => '2014-02-09', 'modified' => '2014-02-10', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Machhapuchchhre Banl Limited has opened a Limited Banking Outlet in Mahendranagar of Dhanusha. The outlet was inaugurated by the Director of the Bank Birendra Prasad Mahato. With the newly opened outlet, the Bank now has 54 branches, one extension counter and 65 ATMs.', 'sortorder' => '2417', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 6 => array( 'Article' => array( 'id' => '2523', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (27 January - 02 February 2014)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>NIBL Capital Markets Sign Agreement with Hydro Companies </strong></span></div> <div> <img alt="NIBL" src="/userfiles/images/nibl%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 29px;" />NIBL Capital Markets Limited has signed agreements on 23 January with two hydropower companies, United Modi Hydropower Private Limited and ApiPower Company Limited, to act as the issue manager and underwriter for their respective Initial Public Offering. United Modi Hydro Private Limited will be issuing 4,000,000 units of common stock, having total value of Rs 400 million at Rs 100 par value. Currently, United Modi is in the process of converting into a Public Limited Company. United Modi runs the 10MW Lower Modi-1 Hydropower Project in Parbat and is now constructing 10.5 MW Lower Modi-2 Hydropower Project as the second part of the cascade project. Api Power Company Limited will issue up to 2,046,240 units of common stock, having total value up to Rs 204,624,000 at Rs 100 par value. Api Power Company Limited has already started construction of the 8.5 MW Naugard Gad Project in Darchula.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Dahal Appointed Sanima’s CEO</strong></span></div> <div> <img alt="Bhuvan Kumar Dahal" src="/userfiles/images/dahal(2).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 82px; height: 100px;" />Bhuvan Kumar Dahal is appointed as the Chief Executive Officer (CEO) of Sanima Bank for four years. The Board Meeting of Sanima Bank held on 21st January, 2014 made the appointment. Dahal had been working at Sanima Bank as a Deputy Chief Executive Officer (DCEO) for the last seven months. Before joining Sanima Bank, Dahal worked at Nabil Bank for 22 years in various capacities. Last three positions he held in Nabil were Chief Operating Officer, Chief Investment Officer and Chief Financial Officer.</div> <div> </div> <div> </div> <div> <span style="font-size:14px;"><strong>EBL’s ATM in Pashupatinath Temple</strong></span></div> <div> <img alt="Everest Bank Limited (EBL)" src="/userfiles/images/ebl%20(Copy)(1).jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 105px;" />Everest Bank Limited (EBL) has installed its new ATM inside Pashupatinath Temple premises. The ATM was jointly inaugurated by Govind Tandon (Member Secretary-Pashupatinath Trust) and AK Ahluwalia (CEO-EBL). The inaugural function was also attended by dignitaries including officials of Pashupatinath Trust, Bank’s Employees and Brand Ambassador of EBL Sadichha Shrestha. At the same function, the Bank also distributed warm clothes to around 250 elderly people of Pashupatinath Old-age home.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Citizens Bank’s Brach in Siddharthanagar</strong></span></div> <div> <img alt=" Citizens Bank’s Brach in Siddharthanagar" src="/userfiles/images/ctzn%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 116px;" />Citizens Bank International Limited has opened its 37th branch in Siddharthanagar of Rupandehi. On the occasion, the Bank also distributed warm clothes to elderlies of an oldage home of Basanapur VDC of Rupandehi. Branch Manager Rajendra Thapa Chhetri informed that the branch will provide banking service of international standard to the people of Siddharthanagar and neighbouring areas. The Bank also informed that it will install an ATM in Bhairahawa within a week. The Bank has been offering irs services through 37 branches, 36 ATm counters and 46 branchless banking service. </div>', 'published' => true, 'created' => '2014-01-27', 'modified' => '2014-01-27', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Everest Bank Limited (EBL) has installed its new ATM inside Pashupatinath Temple premises. The ATM was jointly inaugurated by Govind Tandon (Member Secretary-Pashupatinath Trust) and AK Ahluwalia (CEO-EBL). The inaugural function was also attended by dignitaries including officials of Pashupatinath Trust, Bank’s Employees and Brand Ambassador of EBL Sadichha Shrestha', 'sortorder' => '2366', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 7 => array( 'Article' => array( 'id' => '2476', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (20 - 26 January 2014)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Citizens’ Branchless Banking in Three New Locations</strong></span></div> <div> Citizens Bank International Limited has commenced its branchless banking service in Nagarkot, Tathali of Bhaktapur and Tarahara of Sunsari. Chief Operating Officer of the Bank Ganesh Raj Pokharel informed that the Bank will start the service in six more locations in near future. The bank has been offering services of cash deposits, cash withdrawal, fund transfer and payment of mobile phone bills and other banking services under branchless banking. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Mega Bank Declares 9% Cash Divided </strong></span></div> <div> Mega Bank Nepal Limited’s 3rd AGM was held in Kathmandu on 13th January 2014. The AGM has declared nine percent cash dividend to its shareholders. The declared cash dividend amounting to Rs 209.7 million has been decided to be distributed from the retained earnings up to the end of last fiscal year. The Chairman of the Bank Dr Madan Kumar Dahal said that it was an achievement for the Bank to distribute significant dividend amount to its shareholders. The CEO of the Bank Anil Keshary Shah expressed his belief that the Bank will continue to grow at a faster pace in future. Furthermore, he reiterated the trust and faith exhibited in the Bank through various achievements such as continuous profit from the very first year, overwhelming response shown by the general public towards the Bank’s IPO and a continuous increase in the Bank’s current share price. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Machhapuchhre Bank’s AGM Held</strong></span></div> <div> The 15th Annual General Meeting of Machhapuchhre Bank was held on 13th January. The AGM endorsed a proposal of allowing the Bank’s board to merge with any other bank and financial institution (BFIs) or to go for strategic partnership with a foreign bank. The Bank operates through 54 branches and an extension counter. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Ace Holds its 8th AGM</strong></span></div> <div> Ace Development Bank held its eighth Annual General Meeting on 13th January under the chairmanship of Executive Committee Chairman Yogendra Shakya. The AGM proposed the issuing of 3.70 percentage of its total paid-up capital as bonus share which amounts to Rs 29,521,300. The AGM also decided to continue with its directive to the Executive Committee to go for merger with appropriate bank and financial institutions. The Bank has been providing its services through 12 branches and one extension counter.</div> <div> </div> <div> <span style="font-size:14px;"><strong>City Express and Kanchan Development Bank Ink Agreement</strong></span></div> <div> City Express Money Transfer and Kanchan Development Bank Ltd have made an agreement to bring in remittance. With this agreement, the remittance sent through City Express can be received from all the branches of Kanchan Development Bank. The agreement was signed by Managing Director of City Express Chandra Tandon and CEO of Kanchan Development Bank Suresh Bahadur Bam. </div>', 'published' => true, 'created' => '2014-01-20', 'modified' => '2014-01-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Citizens Bank International Limited has commenced its branchless banking service in Nagarkot, Tathali of Bhaktapur and Tarahara of Sunsari. Chief Operating Officer of the Bank Ganesh Raj Pokharel informed that the Bank will start the service in six more locations in near future. The bank has been offering services of cash deposits, cash withdrawal, fund transfer and payment of mobile phone bills and other banking services under branchless banking.', 'sortorder' => '2322', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 8 => array( 'Article' => array( 'id' => '2426', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (6 - 12 January 2014)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Civil Bank’s ‘Mobile Mai Nagad’</strong></span></div> <div> Civil Bank Ltd has introduced a new product named ‘Mobile Mai Nagad’ on the occasion of New Year 2014. According to the Bank, this product has a complete range of financial services such as deposit, withdrawal from bank account to mobile account, account to account transfer, payment of shopping bills and utility bills through Hello Paisa Network. The Bank has also introduced Cardless ATM service from which cash can be withdrawn by using mobile phone from any Civil Bank ATM without using ATM Card. The Bank has claimed this feature to be available only in Civil Bank. The Bank has signed an agreement with Hello Paisa for this service. </div> <div> </div> <div> <span style="font-size:14px;"><strong>IME’s ‘Like, Post, Win’ Facebook Contest</strong></span></div> <div> International Money Express Pvt Ltd (IME) has launched a month-long facebook contest titled ‘Like, Post, Win’ from 1st January 2014. All existing customers of IME are eligible for the lucky draw but they will have to like IME’s official facebook page at www.facebook.com/imeremit and this will allow them to open the contest app where they can post their IME control number generated from their remittance transaction along with their personal details. Existing IME facebook page fans also can participate by posting the transaction ID in the facebook page. Gifts will be given to beneficiaries in Nepal in case of international transactions. Two lucky winners will get NTC or NCell recharge cards worth Rs 500 everyday whereas one lucky draw winner will get Colors Xfactor Bold II mobile set every week. At the end </div> <div> of this contest, the bumper lucky draw winner will get an iPad Air. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Nabil Honoured Shareholders on 29th AGM</strong></span></div> <div> Nabil Bank Limited held its 29th Annual General Meeting 27th December 2013 under the chairmanship of Krishna Bahadur Manandhar. The AGM approved the payment of 65 per cent dividend (40 per cent cash dividend and 25 per cent bonus shares), totalling Rs 65 per share as recommended by the Board of Directors of the Bank and approved by Nepal Rastra Bank. The AGM also felicitated two public shareholders Dr Madhav Kumar Shrestha and Ishwar Das Karmacharya for their contribution to the Bank. The shareholder duos were conferred with a shawl and appreciation letter.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Himalayan Bank Announces Cash Dividend and Bonus Share</strong></span></div> <div> Himalayan Bank Limited has decided to provide five percent bonus shares and 10 per cent cash dividend to its shareholders from the profit earned in the last fiscal year. The decision was made by a meeting of Board of Directors of the Bank held on 1st January 2014. According to the Bank, the decision is subject to approval of its upcoming 21st AGM and Nepal Rastra Bank. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Janata Bank’s Extension Counter in Pratappur</strong></span></div> <div> Janata Bank Nepal Limtedhas opened an Extension Counter at Pratappur VDC of Nawalparasi. The Bank has started its transactions from the counter from 1st January 2014. With this, the Bank now has 25 branch offices and two extension counters. </div>', 'published' => true, 'created' => '2014-01-07', 'modified' => '2014-01-07', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Civil Bank Ltd has introduced a new product named ‘Mobile Mai Nagad’ on the occasion of New Year 2014. According to the Bank, this product has a complete range of financial services such as deposit, withdrawal from bank account to mobile account, account to account transfer, payment of shopping bills and utility bills through Hello Paisa Network. The Bank has also introduced Cardless ATM service from which cash can be withdrawn by using mobile phone from any Civil Bank ATM without using ATM Card. The Bank has claimed this feature to be available only in Civil Bank. The Bank has signed an agreement with Hello Paisa for this service.', 'sortorder' => '2271', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 9 => array( 'Article' => array( 'id' => '2381', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief ( 30 December - 5 January 2014)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>National Insurance to Complete Four Decades in Nepal</strong></span></div> <div> National Insurance Company is completing four decades of its operations in Nepal on 1st January 2014. The company will be having a month long nationwide celebration in the month of January. The celebrations will start with cake cutting celebrations in head office in Kathmandu and also in all branch offices in Nepal. The company will be distributing blankets, torches and sports item to various institutions including deaf and dumb children as a part of its CSR activities. It will also conduct one day exclusive session for its women employees which will cover areas of health, stress and communication skills among others. On 5th January, the company is organizing a free health check up and blood donation camp. </div> <div> </div> <div> <span style="font-size:14px;"><strong>NIBL’s 27th AGM Held</strong></span></div> <div> Nepal Investment Bank Limited (NIBL)’s 27th Annual General Meeting was held on 26th December. The Net Profit of the Bank has grown by 84.3 per cent to reach Rs 1.91 billion against previous year’s figure of Rs 1.03 billion. The AGM has decided to distribute 25 per cent cash dividend and 10 per cent stock dividend to the existing shareholders. The Bank has increased its deposits by 9.5 per cent, reaching Rs 62.42 billion against last year’s Rs 57.01 billion. Similarly, total lending of the bank also grew by 11.2 per cent reaching Rs 47.70 billion.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Nabil Invest Relocates Offices</strong></span></div> <div> Nabil Investment Banking Ltd (Nabil Invest), a Subsidiary Company of Nabil Bank Ltd and a Securities Businessperson (Merchant Banker) has shifted its Chabahil and Anamnagar Offices to Central Plaza at Narayanchaur, Naxal. The new office will provide services like issue management, underwriting, registrar to shares, trusteeship services, depository participant in a central depository service (CDS), portfolio management services (PMS), fund management and depository of Nabil Mutual Fund and corporate advisory services. On this occasion, Nabil Invest is providing 50 per cent discount on the annual management fee on limited PMS products.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Mega Bank Supports Aama Ghar</strong></span></div> <div> Mega bank has provided Rs 700,000 to Aama Ghar, a philanthropic initiative undertaken by social worker Dil Shova Shrestha. On a programme held on 23rd December, CEO of Mega Bank Anil Keshary Shah handed over the cheque to Shrestha. Shah said that he felt delighted in supporting philanthropic initiatives like ‘Aama Ghar’. He also encouraged the private sector to take initiative in supporting the deprived and destitute people. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Sanima’s Conducts Blood Donation </strong></span></div> <div> Sanima Bank conducted a blood donation program at its head office in Naxal on the occasion of its 10th year of operation. Under its Corporate Social Responsibility (CSR), the Bank has conducted various activities to mark its 10 years of operation. In the current fiscal year, the Bank has approved Rs 6.3 million for CSR activities. The approved amount is 2.07 per cent of net profit of last fiscal year. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Siddhartha Bank’s Blood Donation Program</strong></span></div> <div> Siddhartha Bank’s Birgunj Branch organized a blood donation program on 25th December On the occasion of the Bank’s 11th Anniversary. 160 donors participated in the program organized at the branch premises.</div>', 'published' => true, 'created' => '2013-12-31', 'modified' => '2013-12-31', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'National Insurance Company is completing four decades of its operations in Nepal on 1st January 2014. The company will be having a month long nationwide celebration in the month of January. The celebrations will start with cake cutting celebrations in head office in Kathmandu and also in all branch offices in Nepal. The company will be distributing blankets, torches and sports item to various institutions including deaf and dumb children as a part of its CSR activities.', 'sortorder' => '2224', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 10 => array( 'Article' => array( 'id' => '2292', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (16 - 22 December 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><span style="font-size:14px;">NUBL and BHCT Sign MoU</span></strong></div> <div> Nirdhan Utthan Bank Limited (NUBL) has signed an MoU with UK-based INGO, The Blueberry Hill Charitable Trust (BHCT) to implement the project ‘Sustainable Access to Finance and Livelihoods in Nepal (SAFAL Nepal). The project is funded by UKaid through DFID. NUBL and BHCT will work together under a deficit-subsidy partnership model to expand financial services in remote areas of four districts- Panchthar, Doti, Dadeldhura, and Ilam. The project aims to improve the livelihoods of hill and mountain communities through sustainable access to finance linked with appropriate livelihood opportunities and local institutional strengthening. Under this partnership model, BHCT will support NUBL financially and technically for initial start-up and client capacity building; and NUBL will manage loan funds for the deficit-subsidy partnership model.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Citizens’ Branchless Banking in Jhapa</strong></span></div> <div> Citizens Bank International Limited has started its 42nd branchless banking service in Shivagunj of Jhapa. According to the bank, the service is started to offer modern banking facilities to the residents in remote parts of Nepal. The bank has plans of providing at least one branchless banking service in each zone, and has informed that that the number will reach 50 in near future. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Shah’s Tenure Extended</strong></span></div> <div> Mega Bank Nepal Limited has extended the tenure of its Chief Executive Office Anil Shah by another four years. The decision was made by a meeting of Board of Directors of the bank on Monday. With this decision, Shah will be the CEO of the bank till December 9, 2017. Shah is also the founding CEO of the bank. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Gandaki Starts Mobile Banking Service</strong></span></div> <div> Gandaki Bikas Bank Limited has started providing Mobile Banking Service to its customers. Now, the bank will be offering facilities of fund transfer through mobile, mobile recharge, phone bill payment, balance enquiry through SMS, mini statement, and new checkbook issuance among others. The bank also has been providing ATM and ABBS service. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Cosmos Share Applicantion Exceed Five Times than Demand</strong></span></div> <div> The applicants of primary shares in Cosmos Development Bank exceed five times than its demand. The bank has its main branch in Gorkha. “The bank had demanded the applications of public shares worth Rs 17.5 millions with the rate of Rs 100 per share but it has received the demands of more than Rs 110 millions,” Rajendra Pudasaini, Marketing Manager of the bank informed. He said that the applications are from Kathmandu, Chitwan, Butwal, Lalitpur, Parsa, Sarlahi, Narayangarh, Lamjung along with the districts. The bank had issued shares worth 40 per cent of the total capital from December 8th to 9th.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Tinau Bank provides 12 percent Bonus Share</strong></span></div> <div> Tinau Development Bank is to distribute 12 per cent of bonus share. This proposal was approved by Board of Directors during 7th Annual General Meeting of the bank. The AGM also has approved that the right share will be issued in the ratio of 0.25:1 of paid up capital as well as increase authorized capital and issued capital. “After the issuance of right share, the authorized capital of the bank will be Rs 300 million, issued capital R 250 million and paid-up capital will be Rs 16.1 mllion,” informed Pradip Kumar Shrestha, Chief Executive Officer of the bank. The AGM has also endorsed the audit report of fiscal year 2012/13, balance sheet till 2013 June and profit-loss and cash flow details. </div>', 'published' => true, 'created' => '2013-12-17', 'modified' => '2013-12-17', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Nirdhan Utthan Bank Limited (NUBL) has signed an MoU with UK-based INGO, The Blueberry Hill Charitable Trust (BHCT) to implement the project ‘Sustainable Access to Finance and Livelihoods in Nepal (SAFAL Nepal). The project is funded by UKaid through DFID. NUBL and BHCT will work together under a deficit-subsidy partnership model to expand financial services in remote areas of four districts- Panchthar, Doti, Dadeldhura, and Ilam.', 'sortorder' => '2134', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 11 => array( 'Article' => array( 'id' => '2251', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (9 - 15 December 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:16px;"><strong>Jyoti, Sewa in Remittance Pact</strong></span></div> <div> <img alt="" src="/userfiles/images/mm1.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 87px;" />Jyoti Development Bank Ltd and Sewa Remit Pvt Ltd have signed an agreement to provide remittance service. Bank’s Chief Executive Officer (CEO) Govinda Prashad Upadhyaya and Sewa Remit’s Managing Director Damodar Khanal signed the agreement last Tuesday. Following the agreement, remittance services of Sewa Remit’s would be available from all the branches of Jyoti Development Bank. Sewa Remit is providing the remittance services mainly from the gulf countries. </div> <div> </div> <div> <strong><span style="font-size:16px;">Best Remit Signs Pact with 11 BFIs</span></strong></div> <div> <img alt="" src="/userfiles/images/mm2.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 104px;" />In a bid to expand its services, Best Remit Nepal Pvt Ltd has signed remittance agreement with 11 various banking and financial institutions. The Company, which has been attracting remittance from various countries, has said that it signed agreement with various BFIs based in urban and rural areas. The company has recently signed the remittance Birendranagar based Kaakrebihar Development Bank, Gorkha based Manaslu Development Bank, Butwal-based Ekata Development Bank, Morang based Saptakoshi Development Bank, Nawalparasi based Rising Development Bank and Lalitpur based Sagarmatha Merchant Banking and Finance. Likewise, Best Remit has also signed the agreement with Guheswori Merchant Banking and Finance and Reliance Finance of Kathmandu, among other BFIs. </div> <div> </div> <div> <strong><span style="font-size:16px;">Reliance Finance in Fifth Year</span></strong></div> <div> <img alt="" src="/userfiles/images/mm3.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 77px;" />Reliance Finance Ltd has entered the fourth year of its operation from last Tuesday. On the occasion of fifth anniversary, the Bank distributed blankets and food to the children and elders of Conflict Victim and Disabled Society in Sankhu. The Company with Rs 200 million paid-up capital has collected Rs 20 million deposit in Fiscal Year 2012-13. During the occasion, the Company informed that its deposit has increased by 19.43 per cent during the review period. </div> <div> </div> <div> <strong><span style="font-size:16px;">Triveni to Distribute 20pc Dividend</span></strong></div> <div> <img alt="" src="/userfiles/images/mm4.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 55px;" />The 10th Annual General Meeting (AGM) of the Triveni Development Bank has approved the 20 per cent dividend distribution proposal. The AGM of the Bank held at Bharatpur last Friday has endorsed the 20 per cent dividend- 19 per cent bonus shares and 1 per cent cash. The Company has said that its paid-up capital will exceed Rs 370 million after distributing the approved bonus. The AGM has also unanimously elected Prof Dr Bhim Prashad Neupane, Lok Bahadur KC, Raj Kumar Shrestha, Bijay Subedi, Tanka Prashad Dhakal and Nir Prashad Lamichhane to represent the share holders in the Board of the Directors.</div> <div> </div> <div> <strong><span style="font-size:16px;">BOK Joins Hand with BHCT</span></strong></div> <div> <img alt="" src="/userfiles/images/mm5.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 75px;" />Bank of Kathmandu Limited has signed an agreement with The Blueberry Hill Charitable Trust (BHCT) for Samriddha Pahad Project and Sustainable Access to Finance and Livelihood Project (SAFAL Nepal). The agreement was made so as to explore opportunities in increasing access to finance for rural smallholder farmers, small and micro entrepreneurs (SMEs) and other relevant business entities in Nepal.</div>', 'published' => true, 'created' => '2013-12-09', 'modified' => '2013-12-09', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Jyoti Development Bank Ltd and Sewa Remit Pvt Ltd have signed an agreement to provide remittance service. Bank’s Chief Executive Officer (CEO) Govinda Prashad Upadhyaya and Sewa Remit’s Managing Director Damodar Khanal signed the agreement last Tuesday.', 'sortorder' => '2093', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 12 => array( 'Article' => array( 'id' => '2167', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (25 November - 1 December 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Citizens Post 100m Profit</strong></span></div> <div> Citizens Bank International Ltd has earned Rs 100 million net profit on the first quarter of current fiscal year. The Bank had made Rs 670 million net profit in the same period of the last fiscal year. According to the unaudited financial report of the first quarter of current fiscal year made public by the Bank, the Company has collected Rs 23.28 billion deposit and floated the loan amount Rs 19.23 billion during the period. According to the Bank, its paid-up capital has now reached Rs 2.10 billion.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Century Observes Net Profit Surge</strong></span></div> <div> The net profit of Century Bank Ltd has increased in the first quarter of the Fiscal Year 2013-14, according to the unaudited financial report of the Company. The Bank has said that its net profit has increased to 23.9 million in the first quarter of the current fiscal year from Rs 1.8 million in the same period of last fiscal year. According to the report, net interest income of the Bank has also increased in recent period. The Bank had earned Rs 58.6 million net interest income in first quarter of the last fiscal year, while the net interest income reached Rs 67.3 million in the first quarter of the current fiscal year. According to the Bank, it has the liquidity ratio of 27.92 per cent. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Manaslu’s Net Profit 1.5m</strong></span></div> <div> Manaslu Development Bank has posted a net profit of Rs 1.54 million in the first quarter of the current fiscal year. The Bank, headquartered at Gorkha, has collected Rs 577 million deposit, while floated Rs 486.1 loan during the same period. According to the unaudited quarterly financial report of the Bank, it has earned Rs 6.8 million interest income in the first quarter of current fiscal year. The Bank, which holds Rs 120 million paid-up capital, has allocated Rs 380,860 for loan loss provision. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Shangri-la Registers 15.4m Net Profit</strong></span></div> <div> Shangrila Development Bank has posted Rs 15.42 million net profit in the first quarter of the current fiscal year. According to the unaudited quarterly financial report of the Company, it has collected a total of Rs 3.28 billion deposit and extended Rs 2.81 billion loan in the same period. The Bank has extended Rs 109 million rupees in the real state sector alone during the first quarter of the Fiscal Year 2013-14. The Bank, headquartered at Pokhara, has Rs 19.28 of per share income. </div> <div> </div> <div> <span style="font-size:14px;"><strong>ADBL’s Net Interest Income Plummets</strong></span></div> <div> The net interest income of Agriculture Development Bank Ltd has declined in the first quarter of current fiscal year in comparison to the same period of previous fiscal year. According to the quarterly financial report of the Bank, its net interest income has plummeted to Rs 1.58 billion in the first quarter of the current fiscal year from Rs 4.72 billion in the same period of last fiscal year. Though the Bank observed a drop in the net interest income, there was nominal increment in the total deposit collected and the loan floated by the bank during the first quarter as compared to the same period of the last fiscal year. According to the financial report, the Bank has collected Rs 60.68 billion deposit and floated Rs 50.72 billion in the first quarter of current fiscal year, while the Bank had collected Rs 54.43 billion deposit and extended a total of Rs 49.72 billion loan in the same period of last fiscal year. </div>', 'published' => true, 'created' => '2013-11-26', 'modified' => '2013-11-26', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Citizens Bank International Ltd has earned Rs 100 million net profit on the first quarter of current fiscal year. The Bank had made Rs 670 million net profit in the same period of the last fiscal year.', 'sortorder' => '2012', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 13 => array( 'Article' => array( 'id' => '2048', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (28 October - 3 November 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Sunrise’s Branch at Lagankhel</strong></span></div> <div> Sunrise Bank Ltd has established its new branch at Lagankhel in Lalitpur. Bank’s Chief Executive Officer (CEO) Surendraman Pradhan inaugurated the newly opened branch last Thursday. The Bank has shifted its branch from Harisiddhi to Lagankhel. According to the Bank, all the banking transactions of the Harisiddhi branch will be held now onwards through newly opened Lagankhel branch. It has also informed that the branch will provide micro and middle enterprise loan, hire purchase and safe locker, among other services. The company has told that it is serving around 222 thousands customers. It has 50 branches and 59 ATM counters across the country.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Ailing Journo Gets Mega’s Aid</strong></span></div> <div> Mega Bank Ltd has provided the financial assistance of Rs 25 thousand to the ailing journalist BK Palpali. Palpali is undergoing treatment in India after his both kidneys were failed. Mega Bank’s Chief Executive Officer (CEO) Anil Keshary Shah handed over the cheque of financial assistance to vice president of Federation of Nepali Journalists, Yashoda Timsina, and ‘Save BK Palpali Campaign’ coordinator Radheshyam Lekali amid a programme last Thursday. Shah said that his company decided to provide support to Palpali so that financial assistance could be collected from the corporate sector. He also requested other companies to support Palpali on his treatment.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Century’s Gold-silver Loan</strong></span></div> <div> Century Commercial Bank Ltd has started the gold and silver loan service from its Belbari branch from last Thursday. Prior to this, the Bank was providing such service from its Newroad, Putalisadak, Dharan, Manbhawan, Pokhara and Boudha branches. Likewise, the Bank has also started the ‘Platinum Saving Account’, on which it will provide 8.25 per cent interest on the daily saving. According to the press release of the company, this account could be opened with minimum deposit amount of Rs 500,000. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Jyoti Brings Two Loan Schemes</strong></span></div> <div> Jyoti Development Bank has brought Jyoti micro and middle loan and Jyoti Agricultural Loan. The Bank has said that it will extend the loan at a cheaper interest rate to its customers through these loan schemes. According to these schemes, the Bank will provide the loan for starting micro and middle level enterprises and businesses. The loan amount will be from Rs 300,000 to 5 million. Likewise, it will provide the loan amount of Rs 100,000 to 2.5 million under agricultural loan. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Muktinath’s Operating Profit Rs 39m</strong></span></div> <div> Muktinath Development Bank Ltd has posted the profit of Rs 39 million until the mid October. The Bank has collected the total deposit amount Rs 3.90 billion, while extended the loan Rs 3.35 billion during the review period. According to the Bank’s Chief Executive Officer (CEO) Bharat Dhakal, it has started gold loan and locker services from its head office Pokhara and Syangja branch. He also informed that the Banks is going to start the mobile banking service very soon. It has made 10 districts as its working areas.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Excel’s 50pc Bonus Share Approved </strong></span></div> <div> Nepal Rastra Bank (NRB) has approved the bonus share distribution proposal of Excel Development Bank. The company has proposed for the distribution of 50 per cent bonus share and 2.63 per cent cash dividend on Fiscal Year 2012/13. The Bank has said that it will distribute the dividend following the endorsement of the proposal from its upcoming Annual General Meeting.</div>', 'published' => true, 'created' => '2013-10-28', 'modified' => '2013-10-29', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Sunrise Bank Ltd has established its new branch at Lagankhel in Lalitpur. Bank’s Chief Executive Officer (CEO) Surendraman Pradhan inaugurated the newly opened branch last Thursday. The Bank has shifted its branch from Harisiddhi to Lagankhel.', 'sortorder' => '1899', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 14 => array( 'Article' => array( 'id' => '1990', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (21 -27 October 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>NMB’s ATM at Babarmahal</strong></span></div> <div> NMB Bank has started its new ATM service at the premise of Kathmandu District Court (KDC) in Babarmahal. KDC Judge Achyut Bista inaugurated the newly established counter on October 10. This counter is expected to help on banking services for the beneficiaries of the court. With this counter, the total number of the ATM counters of NMB has reached 27. Likewise, The Bank has 26 branches and one extension counter across the country.</div> <div> </div> <div> <strong><span style="font-size:14px;">Standard Chartered Marks World Sight Day</span></strong></div> <div> Standard Chartered Bank Nepal organised a talk program on ‘Eye Banking and Eye Donation’ at its Head Office in Naya Baneshwore on October 10 to mark the World Sight Day 2013. The Bank also organised a dry eye check up camp at its premises in Biratnagar Branch. According to the press release of the Bank, it had extended a financial assistance of $1 million for the construction of Biratnagar Eye Hospital in Biratnagar with a view to reinforce the ‘Seeing is Believing’ agenda in Nepal. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Citizen’s 15pc Dividend Approved</strong></span></div> <div> Citizen Bank International Ltd has approved the proposal to distribute 15 per cent dividend. The Seventh Annual General Meeting (AGM) of the Bank held on October 8 made the decision to this effect. The Bank has made the net profit worth Rs 413.2 million in the Fiscal Year 2011-12. Likewise, the Bank has collected the total deposit worth Rs 22.74 billion rupees and extended the loan amount Rs 17.95 billion in the review period. Bank’s Chairman Pradeep Jung Pandey has presented the financial report in the AGM. According to Pandey, the Bank has planned to open its branch offices in Jumla, Jajarkot and Siddharthanagar within 3 months. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Everest Establishes Information Board at Pashupati</strong></span></div> <div> Digital Information Board has been established in the western gate of the Pashupatinath Temple with the support of Everest Bank Ltd. The Board aims to inform the devotees at the Temple about the prayer schedule, special programs to be held and donations received by the Pashupati Area Development Trust (PADT). According to the joint press release issued by the Everest Bank and PADT, the institutions have pledged to conduct other development works in the collaboration in the near future. </div> <div> </div> <div> <span style="font-size:14px;"><strong>NMB Announces 15pc Dividend</strong></span></div> <div> NMB Bank has announced 15 per cent dividend to its share holders. The meeting of the Board of Directors (BOD) held at the first week of the October made such decision. The dividend distribution will come into effect after getting the approval from the Nepal Rastra Bank and the upcoming Annuan General Meeting of the company, states the press release of the NMB.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Kumari’s Banking Literacy Campaign</strong></span></div> <div> Kumari Bak Ltd has organised a banking literacy programme. The programme was organised on the first week of October at Balaju Engineering College in the coordination of Swati Sadan Campus. The Bank’s Relationship Manager Bishwas Raj Aryal has informed the students about the importance of saving and the banking system. Over 200 students have participated in the campaign.</div>', 'published' => true, 'created' => '2013-10-21', 'modified' => '2013-10-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'NMB Bank has started its new ATM service at the premise of Kathmandu District Court (KDC) in Babarmahal. KDC Judge Achyut Bista inaugurated the newly established counter on October 10. This counter is expected to help on banking services for the beneficiaries of the court. With this counter, the total number of the ATM counters of NMB has reached 27. Likewise, The Bank has 26 branches and one extension counter across the country.', 'sortorder' => '1840', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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The company says the new launches are aimed at catering to its customers’ need for high-speed internet and contributing to post-quake relief and rebuilding works.</div> <div> </div> <div> The buyers of the devices will also get 500 MB data bonus for free. The company said the devices are available in all Ncell Centers, Ncell Shops and all authorized sales outlets.</div> <div> </div> <div> These high internet devices allow users to access internet at download speed of up to 21.6 MB per second and upload speed of up to 5.76 MB per second. Wireless routers allow up to 10 simultaneous users with battery backup of up to six hours. The speed of internet on these devices depends on speed available in the given locality and also on the external factors.</div> <div> </div> <div> The devices need a SIM along with data package to access the internet which enables Ncell subscribers to access internet services anytime, anywhere with Ncell 3G network. The devices are compatible to Windows and iOS.</div> <div> </div> <div> “Experiences across the world have shown that access to internet can much support relief and rebuilding works, and contribute to better manage post-quake impacts. Hence, respecting the need of the hour and customers demand, we have once again made high speed dongles and wireless routers available to our customers. We believe this will enable our customers to stay connected with the dear ones, businesses and support agencies across the world,” said Milan Sharma, corporate communications expert of Ncell.</div> <div> </div> <div> The dongles are available at Rs. 2699 (Including taxes), while wireless routers are available at Rs. 5399 (Including taxes). Customers can also get 500 MB data coming with the device transferred to their existing numbers along with the purchase of the device from Ncell Centers.</div>', 'published' => true, 'created' => '2015-06-07', 'modified' => '2015-07-29', 'keywords' => '', 'description' => 'Telecom giant Ncell has launched Ncell connect dongles and wireless routers. The company says the new launches are aimed at catering to its customers’ need for high-speed internet and contributing to post-quake relief and rebuilding works.', 'sortorder' => '2670', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 1 => array( 'Article' => array( 'id' => '2748', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (10-16 March 2014)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>NIC ASIA’s 16th AGM Held</strong></span></div> <div> NIC Asia Bank held its 16th Annual General Meeting in Biratnagar on 28th February. This is the first AGM held after the commencement of the operation as NIC ASIA Bank, formed through the merger of former NIC Bank and Bank of Asia. The AGM has approved the issue of cash dividend of Rs 20 per share for the year 2012/2013. Dividend will be distributed from 4th March 2014. For the fiscal year, the Bank’s deposit reached Rs 39.91 billion, lending to Rs 31.55 billion and posted a net profit of Rs 642 million. Jagadish Prasad Agrawal, Trilok Chandra Agrawal, Tulsiram Agrawal, Lokmanya Golcha and Ramchandra Sanghai were elected from the promoters shareholders group in the AGM. Similarly, Rajendra Prasad Aryal, Birendra Kumar Sanghai and Binod Kumar Pyakurel were elected unanimously for another term from public shareholders group as directors.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Everest Bank’s 73rd ATM at Machhapokhari</strong></span></div> <div> Everest Bank Limited has installed a new ATM at Machhapokhari. With this, the network of the Bank has now reached to 73 ATMs along with 50 branches, five Extension Counters and 22 Revenue Collection Counters. The ATM was inaugurated by Chief Executive Officer of the Bank AK Ahluwalia. The inaugural function was also attended by other dignitaries including brand ambassador of the Bank Sadichha Shrestha. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Nepal SBI Bank Launches Indian Railway Ticket Booking Utility </strong></span></div> <div> Nepal SBI Bank Ltd has started online ticket booking services for Indian trains for its customers. The service was started by Indian ambassador to Nepal Ranjit Rae on 28th February amid a ceremony. Deputy Governor Maha Prasad Adhikari participated in the ceremony as the special guest. According to a press statement from the Bank, the online ticket services provided through its online portal is the first of its kind in Nepal and is expected to benefit Nepalis who visit India for various proposes. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Kumari Bank’s ATM at Balkhu </strong></span></div> <div> Kumari Bank Limited has installed a new ATM at Balkhu on 5th March, 2014. The Bank has been providing modern banking services to its customers through 28 branches, two extension counters and 39 ATM locations throughout the country. </div> <div> </div> <div> <strong>Apex Development Bank Gets New CEO</strong></div> <div> Gobind Prasad Upadhyay has been appointed as the new CEO of Apex Development Bank. A recent meeting of Board of Directors of the Bank made the decision. Upadhyaya has been associated with various banks and financial institutions for the past 14 years. Prior to joining Apex Development Bank, he was the CEO of Jyoti Bikash Bank. </div>', 'published' => true, 'created' => '2014-03-10', 'modified' => '2014-03-10', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'NIC Asia Bank held its 16th Annual General Meeting in Biratnagar on 28th February. This is the first AGM held after the commencement of the operation as NIC ASIA Bank, formed through the merger of former NIC Bank and Bank of Asia.', 'sortorder' => '2589', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 2 => array( 'Article' => array( 'id' => '2705', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (3 - 9 March 2014)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Himalremit’s ‘Himalotsav’ to Hit the Road Soon</strong></span></div> <div> HimalRemit is going to organize a road show named ‘Himalotsav’ in different parts of the country. Accoridng to a press statement, this entertainment based road show comprising popular artists will not only entertain the families of HimalRemit customers, but will also inform them about HimalRemit’s remittance services. The road show will start from East Ilam, journeys through far western regions and ends at Baglung. ‘Himalotsav’ will have Indira Joshi and Nima Rumba performing their popular songs whereas Jeetu Nepal will entertain with his comedy acts. The shows will be held at Damak, Ilam, Birtamod, Dharan, Gaighat, Janakpur, Sindhuli, Chandranigahapur, Narayanghat, Dhangadi, Mahendranagar, Dang, Butwal and Baglung.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Samsara Money Transfer appoints Parash Khadka as Brand Ambassador </strong></span></div> <div> Samsara Money Transfer has appointed Parash Khadka, the Captain of national cricket team as its brand ambassador. As per the terms of the contract, Khadka will endorse the company’s products and services through advertising campaigns and other promotional programmes during the term of the agreement. “Paras’s choice was almost spontaneous for I could hardly think of another person befitting the values of Brand Samsara so well. He is a true son-of-the-soil, a focused leader, passionate and most of all, humble who will lead the numerous initiatives that are on the anvil,” said Suraj Chhetri, Director, Marketing and Business Development of Samsara. “I’m very happy and proud to be associated with one of a leading money transfer companies in Nepal,” shared Parash Khadka on his association. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Everest Bank’s ATM at Grande Int’l Hospital</strong></span></div> <div> Everest Bank Limited (EBL) has installed its new ATM inside Grande International Hospital premises. The ATM was jointly inaugurated by Chief Executive Officer of EBL AK Ahluwalia along with Chairman and Directors of Grande Hospital. With this, the network of the Bank has reached to 72 ATMs along with 50 branches, 5ndExtension Counters ad 22 Revenue Collection Counters.</div> <div> </div> <div> <span style="font-size:14px;"><strong>NIBL’s ATM at PADT Premises</strong></span></div> <div> Nepal Investment Bank Limited (NIBL) has installed its 77th ATM in the premises of Pashupati Area Development Trust (PADT) at Gaushala. The ATM was installed on the occasion of 28th anniversary of the Bank and Mahashivaratri. The ATM was inaugurated by the Member Secretary of PADT Dr Govinda Tandon in the presence of Bank’s Chairman Prithivi Bahadur Pande and CEO Jyoti Prakash Pandey. NIBL with a total number of 44 branches, has a customer base of about six hundred thousand and paid-up capital of over Rs 4 Billion. </div>', 'published' => true, 'created' => '2014-03-03', 'modified' => '2014-03-03', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'HimalRemit is going to organize a road show named ‘Himalotsav’ in different parts of the country. Accoridng to a press statement, this entertainment based road show comprising popular artists will not only entertain the families of HimalRemit customers, but will also inform them about HimalRemit’s remittance services.', 'sortorder' => '2549', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 3 => array( 'Article' => array( 'id' => '2676', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (24 February - 2 March 2014)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Everest Bank Renews Contract with Sadichha Shrestha </strong></span></div> <div> <img alt="Sadichha Shrestha" src="/userfiles/images/mm.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 105px;" />Everest Bank has renewed its contract with Sadichha Shrestha to continue her as its Brand Ambassador for further one year. Shrestha, former Miss Nepal has been promoting products and services of the Bank by featuring in advertisements as well as representing the Bank in different forums since last year. In a program held at the Bank’s head office, CEO AK Ahluwalia and Sadichha Shrestha exchanged the agreement. “Everest Bank is an established brand and is looked upon as a very strong Bank. Now, to make it a household name, Sadichha will continue to play an active role and we are quite hopeful in her ability to do so,” said Ahluwalia in the function. </div> <div> </div> <div> <span style="font-size:14px;"><strong>NMB Bank Opens Branch in Putalisadak</strong></span></div> <div> <img alt="NMB Bank" src="/userfiles/images/mm1(1).jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 65px;" />NMB Bank Ltd has opened a new branch in Putalisadak, making the total number of branches operating in the country 26. The new branch is a relocation of the Bank’s previous branch at Durbar Marg.. Presently, the Bank is providing its services through its branches, 30 ATMs and other alternative delivery channels in different parts of the country. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Civil Bank Starts Branchless Banking</strong></span></div> <div> <img alt="Civil Bank Starts Branchless Banking" src="/userfiles/images/mm2(1).jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 132px;" />Civil Bank has started its Branchless Banking service from Tharpu VDC of Panchthar district. The service was jointly inaugurated by the CEO of the Bank Kishore Maharjan and DSP Deep Shamsher Rana. “For justifying and moving forward towards fulfilling our mission of becoming every Nepali’s banking partner by extending all types of banking services, we have launched this service targeting farmers residing in villages to big businesses in cities,” said Maharjan. Through this new service, customers will be able to avail facilities like secure fund withdrawal, fund deposit, fund transfer from one account to another, mobile phone recharge, ATM cards, remittance facility, MobilemaiNagad facility, SMS alert, checking of account balance and printing of statements among others. The Bank also informed that its employees have been assigned to the area for arranging micro credit in a simplified manner to interested customers for running Small and Medium Enterprises as well as Agro-businesses. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Siddhartha Bank opens 42nd Branch in Birtamod</strong></span></div> <div> <img alt="Siddhartha Bank " src="/userfiles/images/mm3(1).jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 49px;" />Siddhartha Bank has inaugurated its 42nd branch at Birtamod, Jhapa on February 16. The branch was jointly inaugurated by the Chief District Officer of Jhapa Ekmani Nepal and Bank’s Director Poonam Chand Agrawal. According to a statement from the Bank, it will be providing a wide array of banking products and services along with ATM facility from the branch.</div>', 'published' => true, 'created' => '2014-02-25', 'modified' => '2014-02-25', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Everest Bank has renewed its contract with Sadichha Shrestha to continue her as its Brand Ambassador for further one year. Shrestha, former Miss Nepal has been promoting products and services of the Bank by featuring in advertisements as well as representing the Bank in different forums since last year.', 'sortorder' => '2519', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 4 => array( 'Article' => array( 'id' => '2615', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief ( 17 - 23 February 2014)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Everest Bank Donates Computers to School</strong></span></div> <div> Everest Bank Limited donated computers to Shree Triveni Higher Secondary School, a government school at Katari, Udayapur as a part of its Corporate Social Responsibility on 10th February. AK Ahluwalia, CEO of the Bank handed over the Computers to Balkrishna Karki, Head Master of the School amid a function organized at Corporate Office of the Bank. “Everest Bank is committed to making a difference in the lives of children through quality education. We are thus happy and proud to be involved in the effort to improve education and infrastructure across the rural Nepal,” said Ahluwalia in the event. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Beed Invest’s New Range Of Products</strong></span></div> <div> Beed Invest Limited, Nepal’s first operational portfolio management company licensed by Securities Board of Nepal (SEB0N) has launched a new set of products targeting individual as well as institutional investors. According to the company, the products aim at providing a steady and sustained return to its customers. The products ‘Lagani Briddhi Plus’, ‘Sanchaya Plus’ and ‘Expor Plus’ are catered to individual customers while ‘Paramarsha Plus’ and ‘Salaaha Plus’ are catered to institutional investors. While ‘Lagani Briddhi Plus’ caters to customers with a high risk appetite, ‘Sanchaya Plus’ is for customers with a lower risk appetite; and ‘Expor Plus’ caters to clients who already have an existing portfolio with Beed Invest, which will be reviewed, restructured and constantly monitored. “We are very happy to be continuously providing steady return to our existing clients despite the volatility in the stock market,” said Sujeev Shakya, Chairman of Beed Invest. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Civil Bank Launches ‘Hastakala Karza’</strong></span></div> <div> Civil Bank Limited has launched ‘Civil Bank Hastakala Karza’ targeting the Small and Medium Enterprises (SME) involved in handicraft business. “The primary objective of this product is to provide loans and other financial services to the handicraft business entrepreneurs in most efficient and hassle-free manner. It will promote the handicraft business in Nepal thereby increasing the export of the country’s handicraft products to a certain extent for enhancing the FCY revenue of the country,” said Kishore Maharjan, Chief Executive Officer of the Bank. The Bank has made arrangements for handicraft entrepreneurs to obtain a maximum loan limit of Rs one million without the need for any land and building as collateral under the Civil Bank Hastakala Karza. </div> <div> </div> <div> <strong><span style="font-size:14px;">Global IME’s Branchless Banking in Khudunabari </span></strong></div> <div> Global IME Bank has started branchless banking at Khudunabari, Jhapa. According to a statement from the bank, the service was started by handing over certificates to market representatives. On the same occasion, the Bank organized a programme to enhance financial literacy among the locals. Shanta Shivakoti, Chief of Marketing and Business Promotions of the Bank and Surendra Regmi, Chief Credit Officer of the Bank answered the queries of the locals in the programme. </div>', 'published' => true, 'created' => '2014-02-18', 'modified' => '2014-02-18', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Global IME Bank has started branchless banking at Khudunabari, Jhapa. According to a statement from the bank, the service was started by handing over certificates to market representatives.', 'sortorder' => '2459', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 5 => array( 'Article' => array( 'id' => '2573', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (7-16 February 2014)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Machhapuchchhre’s Limited Banking at Mahendranagar</strong></span></div> <div> Machhapuchchhre Banl Limited has opened a Limited Banking Outlet in Mahendranagar of Dhanusha. The outlet was inaugurated by the Director of the Bank Birendra Prasad Mahato. With the newly opened outlet, the Bank now has 54 branches, one extension counter and 65 ATMs. </div> <div> </div> <div> <span style="font-size:14px;"><strong>KIST Bank Gets New CEO, Dy CEO</strong></span></div> <div> Kumar Lamsal has joined Kist Bank as the new Chief Executive Officer (CEO) of the Bank from 2nd January. Similarly, Ashok Sherchan also joined office from the sane date as Deputy CEO. Before Joining KIST Bank, Lamsal was the CEO of Sanima Bank and Sherchan was the CEO of Prabhu Development Bank. According to a statement from the Bank, Lamsal has an experience of 24 years in the banking sector, whereas Deputy CEO Sherchan has been in the banking industry for </div> <div> 18 years. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Interaction Programme of Global IME</strong></span></div> <div> Global IME Bank conducted an interaction programme in Myagdi on 29th January, aiming to raise awareness about the banking services. The programme was held in the presence of the Chief District Officer (CDO) Chandra Bahadur Karki and was attended by the Chairman and members of Myagdi Chamber of Commerce and Industry, according to a press statement from the bank. The bank informed local business persons about services including small business loan and agricultural loan schemes along with the necessity of banking services. </div>', 'published' => true, 'created' => '2014-02-09', 'modified' => '2014-02-10', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Machhapuchchhre Banl Limited has opened a Limited Banking Outlet in Mahendranagar of Dhanusha. The outlet was inaugurated by the Director of the Bank Birendra Prasad Mahato. With the newly opened outlet, the Bank now has 54 branches, one extension counter and 65 ATMs.', 'sortorder' => '2417', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 6 => array( 'Article' => array( 'id' => '2523', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (27 January - 02 February 2014)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>NIBL Capital Markets Sign Agreement with Hydro Companies </strong></span></div> <div> <img alt="NIBL" src="/userfiles/images/nibl%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 29px;" />NIBL Capital Markets Limited has signed agreements on 23 January with two hydropower companies, United Modi Hydropower Private Limited and ApiPower Company Limited, to act as the issue manager and underwriter for their respective Initial Public Offering. United Modi Hydro Private Limited will be issuing 4,000,000 units of common stock, having total value of Rs 400 million at Rs 100 par value. Currently, United Modi is in the process of converting into a Public Limited Company. United Modi runs the 10MW Lower Modi-1 Hydropower Project in Parbat and is now constructing 10.5 MW Lower Modi-2 Hydropower Project as the second part of the cascade project. Api Power Company Limited will issue up to 2,046,240 units of common stock, having total value up to Rs 204,624,000 at Rs 100 par value. Api Power Company Limited has already started construction of the 8.5 MW Naugard Gad Project in Darchula.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Dahal Appointed Sanima’s CEO</strong></span></div> <div> <img alt="Bhuvan Kumar Dahal" src="/userfiles/images/dahal(2).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 82px; height: 100px;" />Bhuvan Kumar Dahal is appointed as the Chief Executive Officer (CEO) of Sanima Bank for four years. The Board Meeting of Sanima Bank held on 21st January, 2014 made the appointment. Dahal had been working at Sanima Bank as a Deputy Chief Executive Officer (DCEO) for the last seven months. Before joining Sanima Bank, Dahal worked at Nabil Bank for 22 years in various capacities. Last three positions he held in Nabil were Chief Operating Officer, Chief Investment Officer and Chief Financial Officer.</div> <div> </div> <div> </div> <div> <span style="font-size:14px;"><strong>EBL’s ATM in Pashupatinath Temple</strong></span></div> <div> <img alt="Everest Bank Limited (EBL)" src="/userfiles/images/ebl%20(Copy)(1).jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 105px;" />Everest Bank Limited (EBL) has installed its new ATM inside Pashupatinath Temple premises. The ATM was jointly inaugurated by Govind Tandon (Member Secretary-Pashupatinath Trust) and AK Ahluwalia (CEO-EBL). The inaugural function was also attended by dignitaries including officials of Pashupatinath Trust, Bank’s Employees and Brand Ambassador of EBL Sadichha Shrestha. At the same function, the Bank also distributed warm clothes to around 250 elderly people of Pashupatinath Old-age home.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Citizens Bank’s Brach in Siddharthanagar</strong></span></div> <div> <img alt=" Citizens Bank’s Brach in Siddharthanagar" src="/userfiles/images/ctzn%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 116px;" />Citizens Bank International Limited has opened its 37th branch in Siddharthanagar of Rupandehi. On the occasion, the Bank also distributed warm clothes to elderlies of an oldage home of Basanapur VDC of Rupandehi. Branch Manager Rajendra Thapa Chhetri informed that the branch will provide banking service of international standard to the people of Siddharthanagar and neighbouring areas. The Bank also informed that it will install an ATM in Bhairahawa within a week. The Bank has been offering irs services through 37 branches, 36 ATm counters and 46 branchless banking service. </div>', 'published' => true, 'created' => '2014-01-27', 'modified' => '2014-01-27', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Everest Bank Limited (EBL) has installed its new ATM inside Pashupatinath Temple premises. The ATM was jointly inaugurated by Govind Tandon (Member Secretary-Pashupatinath Trust) and AK Ahluwalia (CEO-EBL). The inaugural function was also attended by dignitaries including officials of Pashupatinath Trust, Bank’s Employees and Brand Ambassador of EBL Sadichha Shrestha', 'sortorder' => '2366', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 7 => array( 'Article' => array( 'id' => '2476', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (20 - 26 January 2014)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Citizens’ Branchless Banking in Three New Locations</strong></span></div> <div> Citizens Bank International Limited has commenced its branchless banking service in Nagarkot, Tathali of Bhaktapur and Tarahara of Sunsari. Chief Operating Officer of the Bank Ganesh Raj Pokharel informed that the Bank will start the service in six more locations in near future. The bank has been offering services of cash deposits, cash withdrawal, fund transfer and payment of mobile phone bills and other banking services under branchless banking. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Mega Bank Declares 9% Cash Divided </strong></span></div> <div> Mega Bank Nepal Limited’s 3rd AGM was held in Kathmandu on 13th January 2014. The AGM has declared nine percent cash dividend to its shareholders. The declared cash dividend amounting to Rs 209.7 million has been decided to be distributed from the retained earnings up to the end of last fiscal year. The Chairman of the Bank Dr Madan Kumar Dahal said that it was an achievement for the Bank to distribute significant dividend amount to its shareholders. The CEO of the Bank Anil Keshary Shah expressed his belief that the Bank will continue to grow at a faster pace in future. Furthermore, he reiterated the trust and faith exhibited in the Bank through various achievements such as continuous profit from the very first year, overwhelming response shown by the general public towards the Bank’s IPO and a continuous increase in the Bank’s current share price. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Machhapuchhre Bank’s AGM Held</strong></span></div> <div> The 15th Annual General Meeting of Machhapuchhre Bank was held on 13th January. The AGM endorsed a proposal of allowing the Bank’s board to merge with any other bank and financial institution (BFIs) or to go for strategic partnership with a foreign bank. The Bank operates through 54 branches and an extension counter. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Ace Holds its 8th AGM</strong></span></div> <div> Ace Development Bank held its eighth Annual General Meeting on 13th January under the chairmanship of Executive Committee Chairman Yogendra Shakya. The AGM proposed the issuing of 3.70 percentage of its total paid-up capital as bonus share which amounts to Rs 29,521,300. The AGM also decided to continue with its directive to the Executive Committee to go for merger with appropriate bank and financial institutions. The Bank has been providing its services through 12 branches and one extension counter.</div> <div> </div> <div> <span style="font-size:14px;"><strong>City Express and Kanchan Development Bank Ink Agreement</strong></span></div> <div> City Express Money Transfer and Kanchan Development Bank Ltd have made an agreement to bring in remittance. With this agreement, the remittance sent through City Express can be received from all the branches of Kanchan Development Bank. The agreement was signed by Managing Director of City Express Chandra Tandon and CEO of Kanchan Development Bank Suresh Bahadur Bam. </div>', 'published' => true, 'created' => '2014-01-20', 'modified' => '2014-01-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Citizens Bank International Limited has commenced its branchless banking service in Nagarkot, Tathali of Bhaktapur and Tarahara of Sunsari. Chief Operating Officer of the Bank Ganesh Raj Pokharel informed that the Bank will start the service in six more locations in near future. The bank has been offering services of cash deposits, cash withdrawal, fund transfer and payment of mobile phone bills and other banking services under branchless banking.', 'sortorder' => '2322', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 8 => array( 'Article' => array( 'id' => '2426', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (6 - 12 January 2014)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Civil Bank’s ‘Mobile Mai Nagad’</strong></span></div> <div> Civil Bank Ltd has introduced a new product named ‘Mobile Mai Nagad’ on the occasion of New Year 2014. According to the Bank, this product has a complete range of financial services such as deposit, withdrawal from bank account to mobile account, account to account transfer, payment of shopping bills and utility bills through Hello Paisa Network. The Bank has also introduced Cardless ATM service from which cash can be withdrawn by using mobile phone from any Civil Bank ATM without using ATM Card. The Bank has claimed this feature to be available only in Civil Bank. The Bank has signed an agreement with Hello Paisa for this service. </div> <div> </div> <div> <span style="font-size:14px;"><strong>IME’s ‘Like, Post, Win’ Facebook Contest</strong></span></div> <div> International Money Express Pvt Ltd (IME) has launched a month-long facebook contest titled ‘Like, Post, Win’ from 1st January 2014. All existing customers of IME are eligible for the lucky draw but they will have to like IME’s official facebook page at www.facebook.com/imeremit and this will allow them to open the contest app where they can post their IME control number generated from their remittance transaction along with their personal details. Existing IME facebook page fans also can participate by posting the transaction ID in the facebook page. Gifts will be given to beneficiaries in Nepal in case of international transactions. Two lucky winners will get NTC or NCell recharge cards worth Rs 500 everyday whereas one lucky draw winner will get Colors Xfactor Bold II mobile set every week. At the end </div> <div> of this contest, the bumper lucky draw winner will get an iPad Air. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Nabil Honoured Shareholders on 29th AGM</strong></span></div> <div> Nabil Bank Limited held its 29th Annual General Meeting 27th December 2013 under the chairmanship of Krishna Bahadur Manandhar. The AGM approved the payment of 65 per cent dividend (40 per cent cash dividend and 25 per cent bonus shares), totalling Rs 65 per share as recommended by the Board of Directors of the Bank and approved by Nepal Rastra Bank. The AGM also felicitated two public shareholders Dr Madhav Kumar Shrestha and Ishwar Das Karmacharya for their contribution to the Bank. The shareholder duos were conferred with a shawl and appreciation letter.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Himalayan Bank Announces Cash Dividend and Bonus Share</strong></span></div> <div> Himalayan Bank Limited has decided to provide five percent bonus shares and 10 per cent cash dividend to its shareholders from the profit earned in the last fiscal year. The decision was made by a meeting of Board of Directors of the Bank held on 1st January 2014. According to the Bank, the decision is subject to approval of its upcoming 21st AGM and Nepal Rastra Bank. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Janata Bank’s Extension Counter in Pratappur</strong></span></div> <div> Janata Bank Nepal Limtedhas opened an Extension Counter at Pratappur VDC of Nawalparasi. The Bank has started its transactions from the counter from 1st January 2014. With this, the Bank now has 25 branch offices and two extension counters. </div>', 'published' => true, 'created' => '2014-01-07', 'modified' => '2014-01-07', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Civil Bank Ltd has introduced a new product named ‘Mobile Mai Nagad’ on the occasion of New Year 2014. According to the Bank, this product has a complete range of financial services such as deposit, withdrawal from bank account to mobile account, account to account transfer, payment of shopping bills and utility bills through Hello Paisa Network. The Bank has also introduced Cardless ATM service from which cash can be withdrawn by using mobile phone from any Civil Bank ATM without using ATM Card. The Bank has claimed this feature to be available only in Civil Bank. The Bank has signed an agreement with Hello Paisa for this service.', 'sortorder' => '2271', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 9 => array( 'Article' => array( 'id' => '2381', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief ( 30 December - 5 January 2014)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>National Insurance to Complete Four Decades in Nepal</strong></span></div> <div> National Insurance Company is completing four decades of its operations in Nepal on 1st January 2014. The company will be having a month long nationwide celebration in the month of January. The celebrations will start with cake cutting celebrations in head office in Kathmandu and also in all branch offices in Nepal. The company will be distributing blankets, torches and sports item to various institutions including deaf and dumb children as a part of its CSR activities. It will also conduct one day exclusive session for its women employees which will cover areas of health, stress and communication skills among others. On 5th January, the company is organizing a free health check up and blood donation camp. </div> <div> </div> <div> <span style="font-size:14px;"><strong>NIBL’s 27th AGM Held</strong></span></div> <div> Nepal Investment Bank Limited (NIBL)’s 27th Annual General Meeting was held on 26th December. The Net Profit of the Bank has grown by 84.3 per cent to reach Rs 1.91 billion against previous year’s figure of Rs 1.03 billion. The AGM has decided to distribute 25 per cent cash dividend and 10 per cent stock dividend to the existing shareholders. The Bank has increased its deposits by 9.5 per cent, reaching Rs 62.42 billion against last year’s Rs 57.01 billion. Similarly, total lending of the bank also grew by 11.2 per cent reaching Rs 47.70 billion.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Nabil Invest Relocates Offices</strong></span></div> <div> Nabil Investment Banking Ltd (Nabil Invest), a Subsidiary Company of Nabil Bank Ltd and a Securities Businessperson (Merchant Banker) has shifted its Chabahil and Anamnagar Offices to Central Plaza at Narayanchaur, Naxal. The new office will provide services like issue management, underwriting, registrar to shares, trusteeship services, depository participant in a central depository service (CDS), portfolio management services (PMS), fund management and depository of Nabil Mutual Fund and corporate advisory services. On this occasion, Nabil Invest is providing 50 per cent discount on the annual management fee on limited PMS products.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Mega Bank Supports Aama Ghar</strong></span></div> <div> Mega bank has provided Rs 700,000 to Aama Ghar, a philanthropic initiative undertaken by social worker Dil Shova Shrestha. On a programme held on 23rd December, CEO of Mega Bank Anil Keshary Shah handed over the cheque to Shrestha. Shah said that he felt delighted in supporting philanthropic initiatives like ‘Aama Ghar’. He also encouraged the private sector to take initiative in supporting the deprived and destitute people. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Sanima’s Conducts Blood Donation </strong></span></div> <div> Sanima Bank conducted a blood donation program at its head office in Naxal on the occasion of its 10th year of operation. Under its Corporate Social Responsibility (CSR), the Bank has conducted various activities to mark its 10 years of operation. In the current fiscal year, the Bank has approved Rs 6.3 million for CSR activities. The approved amount is 2.07 per cent of net profit of last fiscal year. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Siddhartha Bank’s Blood Donation Program</strong></span></div> <div> Siddhartha Bank’s Birgunj Branch organized a blood donation program on 25th December On the occasion of the Bank’s 11th Anniversary. 160 donors participated in the program organized at the branch premises.</div>', 'published' => true, 'created' => '2013-12-31', 'modified' => '2013-12-31', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'National Insurance Company is completing four decades of its operations in Nepal on 1st January 2014. The company will be having a month long nationwide celebration in the month of January. The celebrations will start with cake cutting celebrations in head office in Kathmandu and also in all branch offices in Nepal. The company will be distributing blankets, torches and sports item to various institutions including deaf and dumb children as a part of its CSR activities.', 'sortorder' => '2224', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 10 => array( 'Article' => array( 'id' => '2292', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (16 - 22 December 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><span style="font-size:14px;">NUBL and BHCT Sign MoU</span></strong></div> <div> Nirdhan Utthan Bank Limited (NUBL) has signed an MoU with UK-based INGO, The Blueberry Hill Charitable Trust (BHCT) to implement the project ‘Sustainable Access to Finance and Livelihoods in Nepal (SAFAL Nepal). The project is funded by UKaid through DFID. NUBL and BHCT will work together under a deficit-subsidy partnership model to expand financial services in remote areas of four districts- Panchthar, Doti, Dadeldhura, and Ilam. The project aims to improve the livelihoods of hill and mountain communities through sustainable access to finance linked with appropriate livelihood opportunities and local institutional strengthening. Under this partnership model, BHCT will support NUBL financially and technically for initial start-up and client capacity building; and NUBL will manage loan funds for the deficit-subsidy partnership model.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Citizens’ Branchless Banking in Jhapa</strong></span></div> <div> Citizens Bank International Limited has started its 42nd branchless banking service in Shivagunj of Jhapa. According to the bank, the service is started to offer modern banking facilities to the residents in remote parts of Nepal. The bank has plans of providing at least one branchless banking service in each zone, and has informed that that the number will reach 50 in near future. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Shah’s Tenure Extended</strong></span></div> <div> Mega Bank Nepal Limited has extended the tenure of its Chief Executive Office Anil Shah by another four years. The decision was made by a meeting of Board of Directors of the bank on Monday. With this decision, Shah will be the CEO of the bank till December 9, 2017. Shah is also the founding CEO of the bank. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Gandaki Starts Mobile Banking Service</strong></span></div> <div> Gandaki Bikas Bank Limited has started providing Mobile Banking Service to its customers. Now, the bank will be offering facilities of fund transfer through mobile, mobile recharge, phone bill payment, balance enquiry through SMS, mini statement, and new checkbook issuance among others. The bank also has been providing ATM and ABBS service. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Cosmos Share Applicantion Exceed Five Times than Demand</strong></span></div> <div> The applicants of primary shares in Cosmos Development Bank exceed five times than its demand. The bank has its main branch in Gorkha. “The bank had demanded the applications of public shares worth Rs 17.5 millions with the rate of Rs 100 per share but it has received the demands of more than Rs 110 millions,” Rajendra Pudasaini, Marketing Manager of the bank informed. He said that the applications are from Kathmandu, Chitwan, Butwal, Lalitpur, Parsa, Sarlahi, Narayangarh, Lamjung along with the districts. The bank had issued shares worth 40 per cent of the total capital from December 8th to 9th.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Tinau Bank provides 12 percent Bonus Share</strong></span></div> <div> Tinau Development Bank is to distribute 12 per cent of bonus share. This proposal was approved by Board of Directors during 7th Annual General Meeting of the bank. The AGM also has approved that the right share will be issued in the ratio of 0.25:1 of paid up capital as well as increase authorized capital and issued capital. “After the issuance of right share, the authorized capital of the bank will be Rs 300 million, issued capital R 250 million and paid-up capital will be Rs 16.1 mllion,” informed Pradip Kumar Shrestha, Chief Executive Officer of the bank. The AGM has also endorsed the audit report of fiscal year 2012/13, balance sheet till 2013 June and profit-loss and cash flow details. </div>', 'published' => true, 'created' => '2013-12-17', 'modified' => '2013-12-17', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Nirdhan Utthan Bank Limited (NUBL) has signed an MoU with UK-based INGO, The Blueberry Hill Charitable Trust (BHCT) to implement the project ‘Sustainable Access to Finance and Livelihoods in Nepal (SAFAL Nepal). The project is funded by UKaid through DFID. NUBL and BHCT will work together under a deficit-subsidy partnership model to expand financial services in remote areas of four districts- Panchthar, Doti, Dadeldhura, and Ilam.', 'sortorder' => '2134', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 11 => array( 'Article' => array( 'id' => '2251', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (9 - 15 December 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:16px;"><strong>Jyoti, Sewa in Remittance Pact</strong></span></div> <div> <img alt="" src="/userfiles/images/mm1.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 87px;" />Jyoti Development Bank Ltd and Sewa Remit Pvt Ltd have signed an agreement to provide remittance service. Bank’s Chief Executive Officer (CEO) Govinda Prashad Upadhyaya and Sewa Remit’s Managing Director Damodar Khanal signed the agreement last Tuesday. Following the agreement, remittance services of Sewa Remit’s would be available from all the branches of Jyoti Development Bank. Sewa Remit is providing the remittance services mainly from the gulf countries. </div> <div> </div> <div> <strong><span style="font-size:16px;">Best Remit Signs Pact with 11 BFIs</span></strong></div> <div> <img alt="" src="/userfiles/images/mm2.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 104px;" />In a bid to expand its services, Best Remit Nepal Pvt Ltd has signed remittance agreement with 11 various banking and financial institutions. The Company, which has been attracting remittance from various countries, has said that it signed agreement with various BFIs based in urban and rural areas. The company has recently signed the remittance Birendranagar based Kaakrebihar Development Bank, Gorkha based Manaslu Development Bank, Butwal-based Ekata Development Bank, Morang based Saptakoshi Development Bank, Nawalparasi based Rising Development Bank and Lalitpur based Sagarmatha Merchant Banking and Finance. Likewise, Best Remit has also signed the agreement with Guheswori Merchant Banking and Finance and Reliance Finance of Kathmandu, among other BFIs. </div> <div> </div> <div> <strong><span style="font-size:16px;">Reliance Finance in Fifth Year</span></strong></div> <div> <img alt="" src="/userfiles/images/mm3.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 77px;" />Reliance Finance Ltd has entered the fourth year of its operation from last Tuesday. On the occasion of fifth anniversary, the Bank distributed blankets and food to the children and elders of Conflict Victim and Disabled Society in Sankhu. The Company with Rs 200 million paid-up capital has collected Rs 20 million deposit in Fiscal Year 2012-13. During the occasion, the Company informed that its deposit has increased by 19.43 per cent during the review period. </div> <div> </div> <div> <strong><span style="font-size:16px;">Triveni to Distribute 20pc Dividend</span></strong></div> <div> <img alt="" src="/userfiles/images/mm4.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 55px;" />The 10th Annual General Meeting (AGM) of the Triveni Development Bank has approved the 20 per cent dividend distribution proposal. The AGM of the Bank held at Bharatpur last Friday has endorsed the 20 per cent dividend- 19 per cent bonus shares and 1 per cent cash. The Company has said that its paid-up capital will exceed Rs 370 million after distributing the approved bonus. The AGM has also unanimously elected Prof Dr Bhim Prashad Neupane, Lok Bahadur KC, Raj Kumar Shrestha, Bijay Subedi, Tanka Prashad Dhakal and Nir Prashad Lamichhane to represent the share holders in the Board of the Directors.</div> <div> </div> <div> <strong><span style="font-size:16px;">BOK Joins Hand with BHCT</span></strong></div> <div> <img alt="" src="/userfiles/images/mm5.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 75px;" />Bank of Kathmandu Limited has signed an agreement with The Blueberry Hill Charitable Trust (BHCT) for Samriddha Pahad Project and Sustainable Access to Finance and Livelihood Project (SAFAL Nepal). The agreement was made so as to explore opportunities in increasing access to finance for rural smallholder farmers, small and micro entrepreneurs (SMEs) and other relevant business entities in Nepal.</div>', 'published' => true, 'created' => '2013-12-09', 'modified' => '2013-12-09', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Jyoti Development Bank Ltd and Sewa Remit Pvt Ltd have signed an agreement to provide remittance service. Bank’s Chief Executive Officer (CEO) Govinda Prashad Upadhyaya and Sewa Remit’s Managing Director Damodar Khanal signed the agreement last Tuesday.', 'sortorder' => '2093', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 12 => array( 'Article' => array( 'id' => '2167', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (25 November - 1 December 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Citizens Post 100m Profit</strong></span></div> <div> Citizens Bank International Ltd has earned Rs 100 million net profit on the first quarter of current fiscal year. The Bank had made Rs 670 million net profit in the same period of the last fiscal year. According to the unaudited financial report of the first quarter of current fiscal year made public by the Bank, the Company has collected Rs 23.28 billion deposit and floated the loan amount Rs 19.23 billion during the period. According to the Bank, its paid-up capital has now reached Rs 2.10 billion.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Century Observes Net Profit Surge</strong></span></div> <div> The net profit of Century Bank Ltd has increased in the first quarter of the Fiscal Year 2013-14, according to the unaudited financial report of the Company. The Bank has said that its net profit has increased to 23.9 million in the first quarter of the current fiscal year from Rs 1.8 million in the same period of last fiscal year. According to the report, net interest income of the Bank has also increased in recent period. The Bank had earned Rs 58.6 million net interest income in first quarter of the last fiscal year, while the net interest income reached Rs 67.3 million in the first quarter of the current fiscal year. According to the Bank, it has the liquidity ratio of 27.92 per cent. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Manaslu’s Net Profit 1.5m</strong></span></div> <div> Manaslu Development Bank has posted a net profit of Rs 1.54 million in the first quarter of the current fiscal year. The Bank, headquartered at Gorkha, has collected Rs 577 million deposit, while floated Rs 486.1 loan during the same period. According to the unaudited quarterly financial report of the Bank, it has earned Rs 6.8 million interest income in the first quarter of current fiscal year. The Bank, which holds Rs 120 million paid-up capital, has allocated Rs 380,860 for loan loss provision. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Shangri-la Registers 15.4m Net Profit</strong></span></div> <div> Shangrila Development Bank has posted Rs 15.42 million net profit in the first quarter of the current fiscal year. According to the unaudited quarterly financial report of the Company, it has collected a total of Rs 3.28 billion deposit and extended Rs 2.81 billion loan in the same period. The Bank has extended Rs 109 million rupees in the real state sector alone during the first quarter of the Fiscal Year 2013-14. The Bank, headquartered at Pokhara, has Rs 19.28 of per share income. </div> <div> </div> <div> <span style="font-size:14px;"><strong>ADBL’s Net Interest Income Plummets</strong></span></div> <div> The net interest income of Agriculture Development Bank Ltd has declined in the first quarter of current fiscal year in comparison to the same period of previous fiscal year. According to the quarterly financial report of the Bank, its net interest income has plummeted to Rs 1.58 billion in the first quarter of the current fiscal year from Rs 4.72 billion in the same period of last fiscal year. Though the Bank observed a drop in the net interest income, there was nominal increment in the total deposit collected and the loan floated by the bank during the first quarter as compared to the same period of the last fiscal year. According to the financial report, the Bank has collected Rs 60.68 billion deposit and floated Rs 50.72 billion in the first quarter of current fiscal year, while the Bank had collected Rs 54.43 billion deposit and extended a total of Rs 49.72 billion loan in the same period of last fiscal year. </div>', 'published' => true, 'created' => '2013-11-26', 'modified' => '2013-11-26', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Citizens Bank International Ltd has earned Rs 100 million net profit on the first quarter of current fiscal year. The Bank had made Rs 670 million net profit in the same period of the last fiscal year.', 'sortorder' => '2012', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 13 => array( 'Article' => array( 'id' => '2048', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (28 October - 3 November 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Sunrise’s Branch at Lagankhel</strong></span></div> <div> Sunrise Bank Ltd has established its new branch at Lagankhel in Lalitpur. Bank’s Chief Executive Officer (CEO) Surendraman Pradhan inaugurated the newly opened branch last Thursday. The Bank has shifted its branch from Harisiddhi to Lagankhel. According to the Bank, all the banking transactions of the Harisiddhi branch will be held now onwards through newly opened Lagankhel branch. It has also informed that the branch will provide micro and middle enterprise loan, hire purchase and safe locker, among other services. The company has told that it is serving around 222 thousands customers. It has 50 branches and 59 ATM counters across the country.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Ailing Journo Gets Mega’s Aid</strong></span></div> <div> Mega Bank Ltd has provided the financial assistance of Rs 25 thousand to the ailing journalist BK Palpali. Palpali is undergoing treatment in India after his both kidneys were failed. Mega Bank’s Chief Executive Officer (CEO) Anil Keshary Shah handed over the cheque of financial assistance to vice president of Federation of Nepali Journalists, Yashoda Timsina, and ‘Save BK Palpali Campaign’ coordinator Radheshyam Lekali amid a programme last Thursday. Shah said that his company decided to provide support to Palpali so that financial assistance could be collected from the corporate sector. He also requested other companies to support Palpali on his treatment.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Century’s Gold-silver Loan</strong></span></div> <div> Century Commercial Bank Ltd has started the gold and silver loan service from its Belbari branch from last Thursday. Prior to this, the Bank was providing such service from its Newroad, Putalisadak, Dharan, Manbhawan, Pokhara and Boudha branches. Likewise, the Bank has also started the ‘Platinum Saving Account’, on which it will provide 8.25 per cent interest on the daily saving. According to the press release of the company, this account could be opened with minimum deposit amount of Rs 500,000. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Jyoti Brings Two Loan Schemes</strong></span></div> <div> Jyoti Development Bank has brought Jyoti micro and middle loan and Jyoti Agricultural Loan. The Bank has said that it will extend the loan at a cheaper interest rate to its customers through these loan schemes. According to these schemes, the Bank will provide the loan for starting micro and middle level enterprises and businesses. The loan amount will be from Rs 300,000 to 5 million. Likewise, it will provide the loan amount of Rs 100,000 to 2.5 million under agricultural loan. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Muktinath’s Operating Profit Rs 39m</strong></span></div> <div> Muktinath Development Bank Ltd has posted the profit of Rs 39 million until the mid October. The Bank has collected the total deposit amount Rs 3.90 billion, while extended the loan Rs 3.35 billion during the review period. According to the Bank’s Chief Executive Officer (CEO) Bharat Dhakal, it has started gold loan and locker services from its head office Pokhara and Syangja branch. He also informed that the Banks is going to start the mobile banking service very soon. It has made 10 districts as its working areas.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Excel’s 50pc Bonus Share Approved </strong></span></div> <div> Nepal Rastra Bank (NRB) has approved the bonus share distribution proposal of Excel Development Bank. The company has proposed for the distribution of 50 per cent bonus share and 2.63 per cent cash dividend on Fiscal Year 2012/13. The Bank has said that it will distribute the dividend following the endorsement of the proposal from its upcoming Annual General Meeting.</div>', 'published' => true, 'created' => '2013-10-28', 'modified' => '2013-10-29', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Sunrise Bank Ltd has established its new branch at Lagankhel in Lalitpur. Bank’s Chief Executive Officer (CEO) Surendraman Pradhan inaugurated the newly opened branch last Thursday. The Bank has shifted its branch from Harisiddhi to Lagankhel.', 'sortorder' => '1899', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 14 => array( 'Article' => array( 'id' => '1990', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (21 -27 October 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>NMB’s ATM at Babarmahal</strong></span></div> <div> NMB Bank has started its new ATM service at the premise of Kathmandu District Court (KDC) in Babarmahal. KDC Judge Achyut Bista inaugurated the newly established counter on October 10. This counter is expected to help on banking services for the beneficiaries of the court. With this counter, the total number of the ATM counters of NMB has reached 27. Likewise, The Bank has 26 branches and one extension counter across the country.</div> <div> </div> <div> <strong><span style="font-size:14px;">Standard Chartered Marks World Sight Day</span></strong></div> <div> Standard Chartered Bank Nepal organised a talk program on ‘Eye Banking and Eye Donation’ at its Head Office in Naya Baneshwore on October 10 to mark the World Sight Day 2013. The Bank also organised a dry eye check up camp at its premises in Biratnagar Branch. According to the press release of the Bank, it had extended a financial assistance of $1 million for the construction of Biratnagar Eye Hospital in Biratnagar with a view to reinforce the ‘Seeing is Believing’ agenda in Nepal. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Citizen’s 15pc Dividend Approved</strong></span></div> <div> Citizen Bank International Ltd has approved the proposal to distribute 15 per cent dividend. The Seventh Annual General Meeting (AGM) of the Bank held on October 8 made the decision to this effect. The Bank has made the net profit worth Rs 413.2 million in the Fiscal Year 2011-12. Likewise, the Bank has collected the total deposit worth Rs 22.74 billion rupees and extended the loan amount Rs 17.95 billion in the review period. Bank’s Chairman Pradeep Jung Pandey has presented the financial report in the AGM. According to Pandey, the Bank has planned to open its branch offices in Jumla, Jajarkot and Siddharthanagar within 3 months. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Everest Establishes Information Board at Pashupati</strong></span></div> <div> Digital Information Board has been established in the western gate of the Pashupatinath Temple with the support of Everest Bank Ltd. The Board aims to inform the devotees at the Temple about the prayer schedule, special programs to be held and donations received by the Pashupati Area Development Trust (PADT). According to the joint press release issued by the Everest Bank and PADT, the institutions have pledged to conduct other development works in the collaboration in the near future. </div> <div> </div> <div> <span style="font-size:14px;"><strong>NMB Announces 15pc Dividend</strong></span></div> <div> NMB Bank has announced 15 per cent dividend to its share holders. The meeting of the Board of Directors (BOD) held at the first week of the October made such decision. The dividend distribution will come into effect after getting the approval from the Nepal Rastra Bank and the upcoming Annuan General Meeting of the company, states the press release of the NMB.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Kumari’s Banking Literacy Campaign</strong></span></div> <div> Kumari Bak Ltd has organised a banking literacy programme. The programme was organised on the first week of October at Balaju Engineering College in the coordination of Swati Sadan Campus. The Bank’s Relationship Manager Bishwas Raj Aryal has informed the students about the importance of saving and the banking system. Over 200 students have participated in the campaign.</div>', 'published' => true, 'created' => '2013-10-21', 'modified' => '2013-10-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'NMB Bank has started its new ATM service at the premise of Kathmandu District Court (KDC) in Babarmahal. KDC Judge Achyut Bista inaugurated the newly established counter on October 10. This counter is expected to help on banking services for the beneficiaries of the court. With this counter, the total number of the ATM counters of NMB has reached 27. Likewise, The Bank has 26 branches and one extension counter across the country.', 'sortorder' => '1840', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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The company says the new launches are aimed at catering to its customers’ need for high-speed internet and contributing to post-quake relief and rebuilding works.</div> <div> </div> <div> The buyers of the devices will also get 500 MB data bonus for free. The company said the devices are available in all Ncell Centers, Ncell Shops and all authorized sales outlets.</div> <div> </div> <div> These high internet devices allow users to access internet at download speed of up to 21.6 MB per second and upload speed of up to 5.76 MB per second. Wireless routers allow up to 10 simultaneous users with battery backup of up to six hours. The speed of internet on these devices depends on speed available in the given locality and also on the external factors.</div> <div> </div> <div> The devices need a SIM along with data package to access the internet which enables Ncell subscribers to access internet services anytime, anywhere with Ncell 3G network. The devices are compatible to Windows and iOS.</div> <div> </div> <div> “Experiences across the world have shown that access to internet can much support relief and rebuilding works, and contribute to better manage post-quake impacts. Hence, respecting the need of the hour and customers demand, we have once again made high speed dongles and wireless routers available to our customers. We believe this will enable our customers to stay connected with the dear ones, businesses and support agencies across the world,” said Milan Sharma, corporate communications expert of Ncell.</div> <div> </div> <div> The dongles are available at Rs. 2699 (Including taxes), while wireless routers are available at Rs. 5399 (Including taxes). Customers can also get 500 MB data coming with the device transferred to their existing numbers along with the purchase of the device from Ncell Centers.</div>', 'published' => true, 'created' => '2015-06-07', 'modified' => '2015-07-29', 'keywords' => '', 'description' => 'Telecom giant Ncell has launched Ncell connect dongles and wireless routers. The company says the new launches are aimed at catering to its customers’ need for high-speed internet and contributing to post-quake relief and rebuilding works.', 'sortorder' => '2670', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 1 => array( 'Article' => array( 'id' => '2748', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (10-16 March 2014)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>NIC ASIA’s 16th AGM Held</strong></span></div> <div> NIC Asia Bank held its 16th Annual General Meeting in Biratnagar on 28th February. This is the first AGM held after the commencement of the operation as NIC ASIA Bank, formed through the merger of former NIC Bank and Bank of Asia. The AGM has approved the issue of cash dividend of Rs 20 per share for the year 2012/2013. Dividend will be distributed from 4th March 2014. For the fiscal year, the Bank’s deposit reached Rs 39.91 billion, lending to Rs 31.55 billion and posted a net profit of Rs 642 million. Jagadish Prasad Agrawal, Trilok Chandra Agrawal, Tulsiram Agrawal, Lokmanya Golcha and Ramchandra Sanghai were elected from the promoters shareholders group in the AGM. Similarly, Rajendra Prasad Aryal, Birendra Kumar Sanghai and Binod Kumar Pyakurel were elected unanimously for another term from public shareholders group as directors.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Everest Bank’s 73rd ATM at Machhapokhari</strong></span></div> <div> Everest Bank Limited has installed a new ATM at Machhapokhari. With this, the network of the Bank has now reached to 73 ATMs along with 50 branches, five Extension Counters and 22 Revenue Collection Counters. The ATM was inaugurated by Chief Executive Officer of the Bank AK Ahluwalia. The inaugural function was also attended by other dignitaries including brand ambassador of the Bank Sadichha Shrestha. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Nepal SBI Bank Launches Indian Railway Ticket Booking Utility </strong></span></div> <div> Nepal SBI Bank Ltd has started online ticket booking services for Indian trains for its customers. The service was started by Indian ambassador to Nepal Ranjit Rae on 28th February amid a ceremony. Deputy Governor Maha Prasad Adhikari participated in the ceremony as the special guest. According to a press statement from the Bank, the online ticket services provided through its online portal is the first of its kind in Nepal and is expected to benefit Nepalis who visit India for various proposes. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Kumari Bank’s ATM at Balkhu </strong></span></div> <div> Kumari Bank Limited has installed a new ATM at Balkhu on 5th March, 2014. The Bank has been providing modern banking services to its customers through 28 branches, two extension counters and 39 ATM locations throughout the country. </div> <div> </div> <div> <strong>Apex Development Bank Gets New CEO</strong></div> <div> Gobind Prasad Upadhyay has been appointed as the new CEO of Apex Development Bank. A recent meeting of Board of Directors of the Bank made the decision. Upadhyaya has been associated with various banks and financial institutions for the past 14 years. Prior to joining Apex Development Bank, he was the CEO of Jyoti Bikash Bank. </div>', 'published' => true, 'created' => '2014-03-10', 'modified' => '2014-03-10', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'NIC Asia Bank held its 16th Annual General Meeting in Biratnagar on 28th February. This is the first AGM held after the commencement of the operation as NIC ASIA Bank, formed through the merger of former NIC Bank and Bank of Asia.', 'sortorder' => '2589', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 2 => array( 'Article' => array( 'id' => '2705', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (3 - 9 March 2014)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Himalremit’s ‘Himalotsav’ to Hit the Road Soon</strong></span></div> <div> HimalRemit is going to organize a road show named ‘Himalotsav’ in different parts of the country. Accoridng to a press statement, this entertainment based road show comprising popular artists will not only entertain the families of HimalRemit customers, but will also inform them about HimalRemit’s remittance services. The road show will start from East Ilam, journeys through far western regions and ends at Baglung. ‘Himalotsav’ will have Indira Joshi and Nima Rumba performing their popular songs whereas Jeetu Nepal will entertain with his comedy acts. The shows will be held at Damak, Ilam, Birtamod, Dharan, Gaighat, Janakpur, Sindhuli, Chandranigahapur, Narayanghat, Dhangadi, Mahendranagar, Dang, Butwal and Baglung.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Samsara Money Transfer appoints Parash Khadka as Brand Ambassador </strong></span></div> <div> Samsara Money Transfer has appointed Parash Khadka, the Captain of national cricket team as its brand ambassador. As per the terms of the contract, Khadka will endorse the company’s products and services through advertising campaigns and other promotional programmes during the term of the agreement. “Paras’s choice was almost spontaneous for I could hardly think of another person befitting the values of Brand Samsara so well. He is a true son-of-the-soil, a focused leader, passionate and most of all, humble who will lead the numerous initiatives that are on the anvil,” said Suraj Chhetri, Director, Marketing and Business Development of Samsara. “I’m very happy and proud to be associated with one of a leading money transfer companies in Nepal,” shared Parash Khadka on his association. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Everest Bank’s ATM at Grande Int’l Hospital</strong></span></div> <div> Everest Bank Limited (EBL) has installed its new ATM inside Grande International Hospital premises. The ATM was jointly inaugurated by Chief Executive Officer of EBL AK Ahluwalia along with Chairman and Directors of Grande Hospital. With this, the network of the Bank has reached to 72 ATMs along with 50 branches, 5ndExtension Counters ad 22 Revenue Collection Counters.</div> <div> </div> <div> <span style="font-size:14px;"><strong>NIBL’s ATM at PADT Premises</strong></span></div> <div> Nepal Investment Bank Limited (NIBL) has installed its 77th ATM in the premises of Pashupati Area Development Trust (PADT) at Gaushala. The ATM was installed on the occasion of 28th anniversary of the Bank and Mahashivaratri. The ATM was inaugurated by the Member Secretary of PADT Dr Govinda Tandon in the presence of Bank’s Chairman Prithivi Bahadur Pande and CEO Jyoti Prakash Pandey. NIBL with a total number of 44 branches, has a customer base of about six hundred thousand and paid-up capital of over Rs 4 Billion. </div>', 'published' => true, 'created' => '2014-03-03', 'modified' => '2014-03-03', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'HimalRemit is going to organize a road show named ‘Himalotsav’ in different parts of the country. Accoridng to a press statement, this entertainment based road show comprising popular artists will not only entertain the families of HimalRemit customers, but will also inform them about HimalRemit’s remittance services.', 'sortorder' => '2549', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 3 => array( 'Article' => array( 'id' => '2676', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (24 February - 2 March 2014)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Everest Bank Renews Contract with Sadichha Shrestha </strong></span></div> <div> <img alt="Sadichha Shrestha" src="/userfiles/images/mm.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 105px;" />Everest Bank has renewed its contract with Sadichha Shrestha to continue her as its Brand Ambassador for further one year. Shrestha, former Miss Nepal has been promoting products and services of the Bank by featuring in advertisements as well as representing the Bank in different forums since last year. In a program held at the Bank’s head office, CEO AK Ahluwalia and Sadichha Shrestha exchanged the agreement. “Everest Bank is an established brand and is looked upon as a very strong Bank. Now, to make it a household name, Sadichha will continue to play an active role and we are quite hopeful in her ability to do so,” said Ahluwalia in the function. </div> <div> </div> <div> <span style="font-size:14px;"><strong>NMB Bank Opens Branch in Putalisadak</strong></span></div> <div> <img alt="NMB Bank" src="/userfiles/images/mm1(1).jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 65px;" />NMB Bank Ltd has opened a new branch in Putalisadak, making the total number of branches operating in the country 26. The new branch is a relocation of the Bank’s previous branch at Durbar Marg.. Presently, the Bank is providing its services through its branches, 30 ATMs and other alternative delivery channels in different parts of the country. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Civil Bank Starts Branchless Banking</strong></span></div> <div> <img alt="Civil Bank Starts Branchless Banking" src="/userfiles/images/mm2(1).jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 132px;" />Civil Bank has started its Branchless Banking service from Tharpu VDC of Panchthar district. The service was jointly inaugurated by the CEO of the Bank Kishore Maharjan and DSP Deep Shamsher Rana. “For justifying and moving forward towards fulfilling our mission of becoming every Nepali’s banking partner by extending all types of banking services, we have launched this service targeting farmers residing in villages to big businesses in cities,” said Maharjan. Through this new service, customers will be able to avail facilities like secure fund withdrawal, fund deposit, fund transfer from one account to another, mobile phone recharge, ATM cards, remittance facility, MobilemaiNagad facility, SMS alert, checking of account balance and printing of statements among others. The Bank also informed that its employees have been assigned to the area for arranging micro credit in a simplified manner to interested customers for running Small and Medium Enterprises as well as Agro-businesses. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Siddhartha Bank opens 42nd Branch in Birtamod</strong></span></div> <div> <img alt="Siddhartha Bank " src="/userfiles/images/mm3(1).jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 49px;" />Siddhartha Bank has inaugurated its 42nd branch at Birtamod, Jhapa on February 16. The branch was jointly inaugurated by the Chief District Officer of Jhapa Ekmani Nepal and Bank’s Director Poonam Chand Agrawal. According to a statement from the Bank, it will be providing a wide array of banking products and services along with ATM facility from the branch.</div>', 'published' => true, 'created' => '2014-02-25', 'modified' => '2014-02-25', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Everest Bank has renewed its contract with Sadichha Shrestha to continue her as its Brand Ambassador for further one year. Shrestha, former Miss Nepal has been promoting products and services of the Bank by featuring in advertisements as well as representing the Bank in different forums since last year.', 'sortorder' => '2519', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 4 => array( 'Article' => array( 'id' => '2615', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief ( 17 - 23 February 2014)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Everest Bank Donates Computers to School</strong></span></div> <div> Everest Bank Limited donated computers to Shree Triveni Higher Secondary School, a government school at Katari, Udayapur as a part of its Corporate Social Responsibility on 10th February. AK Ahluwalia, CEO of the Bank handed over the Computers to Balkrishna Karki, Head Master of the School amid a function organized at Corporate Office of the Bank. “Everest Bank is committed to making a difference in the lives of children through quality education. We are thus happy and proud to be involved in the effort to improve education and infrastructure across the rural Nepal,” said Ahluwalia in the event. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Beed Invest’s New Range Of Products</strong></span></div> <div> Beed Invest Limited, Nepal’s first operational portfolio management company licensed by Securities Board of Nepal (SEB0N) has launched a new set of products targeting individual as well as institutional investors. According to the company, the products aim at providing a steady and sustained return to its customers. The products ‘Lagani Briddhi Plus’, ‘Sanchaya Plus’ and ‘Expor Plus’ are catered to individual customers while ‘Paramarsha Plus’ and ‘Salaaha Plus’ are catered to institutional investors. While ‘Lagani Briddhi Plus’ caters to customers with a high risk appetite, ‘Sanchaya Plus’ is for customers with a lower risk appetite; and ‘Expor Plus’ caters to clients who already have an existing portfolio with Beed Invest, which will be reviewed, restructured and constantly monitored. “We are very happy to be continuously providing steady return to our existing clients despite the volatility in the stock market,” said Sujeev Shakya, Chairman of Beed Invest. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Civil Bank Launches ‘Hastakala Karza’</strong></span></div> <div> Civil Bank Limited has launched ‘Civil Bank Hastakala Karza’ targeting the Small and Medium Enterprises (SME) involved in handicraft business. “The primary objective of this product is to provide loans and other financial services to the handicraft business entrepreneurs in most efficient and hassle-free manner. It will promote the handicraft business in Nepal thereby increasing the export of the country’s handicraft products to a certain extent for enhancing the FCY revenue of the country,” said Kishore Maharjan, Chief Executive Officer of the Bank. The Bank has made arrangements for handicraft entrepreneurs to obtain a maximum loan limit of Rs one million without the need for any land and building as collateral under the Civil Bank Hastakala Karza. </div> <div> </div> <div> <strong><span style="font-size:14px;">Global IME’s Branchless Banking in Khudunabari </span></strong></div> <div> Global IME Bank has started branchless banking at Khudunabari, Jhapa. According to a statement from the bank, the service was started by handing over certificates to market representatives. On the same occasion, the Bank organized a programme to enhance financial literacy among the locals. Shanta Shivakoti, Chief of Marketing and Business Promotions of the Bank and Surendra Regmi, Chief Credit Officer of the Bank answered the queries of the locals in the programme. </div>', 'published' => true, 'created' => '2014-02-18', 'modified' => '2014-02-18', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Global IME Bank has started branchless banking at Khudunabari, Jhapa. According to a statement from the bank, the service was started by handing over certificates to market representatives.', 'sortorder' => '2459', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 5 => array( 'Article' => array( 'id' => '2573', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (7-16 February 2014)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Machhapuchchhre’s Limited Banking at Mahendranagar</strong></span></div> <div> Machhapuchchhre Banl Limited has opened a Limited Banking Outlet in Mahendranagar of Dhanusha. The outlet was inaugurated by the Director of the Bank Birendra Prasad Mahato. With the newly opened outlet, the Bank now has 54 branches, one extension counter and 65 ATMs. </div> <div> </div> <div> <span style="font-size:14px;"><strong>KIST Bank Gets New CEO, Dy CEO</strong></span></div> <div> Kumar Lamsal has joined Kist Bank as the new Chief Executive Officer (CEO) of the Bank from 2nd January. Similarly, Ashok Sherchan also joined office from the sane date as Deputy CEO. Before Joining KIST Bank, Lamsal was the CEO of Sanima Bank and Sherchan was the CEO of Prabhu Development Bank. According to a statement from the Bank, Lamsal has an experience of 24 years in the banking sector, whereas Deputy CEO Sherchan has been in the banking industry for </div> <div> 18 years. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Interaction Programme of Global IME</strong></span></div> <div> Global IME Bank conducted an interaction programme in Myagdi on 29th January, aiming to raise awareness about the banking services. The programme was held in the presence of the Chief District Officer (CDO) Chandra Bahadur Karki and was attended by the Chairman and members of Myagdi Chamber of Commerce and Industry, according to a press statement from the bank. The bank informed local business persons about services including small business loan and agricultural loan schemes along with the necessity of banking services. </div>', 'published' => true, 'created' => '2014-02-09', 'modified' => '2014-02-10', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Machhapuchchhre Banl Limited has opened a Limited Banking Outlet in Mahendranagar of Dhanusha. The outlet was inaugurated by the Director of the Bank Birendra Prasad Mahato. With the newly opened outlet, the Bank now has 54 branches, one extension counter and 65 ATMs.', 'sortorder' => '2417', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 6 => array( 'Article' => array( 'id' => '2523', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (27 January - 02 February 2014)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>NIBL Capital Markets Sign Agreement with Hydro Companies </strong></span></div> <div> <img alt="NIBL" src="/userfiles/images/nibl%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 29px;" />NIBL Capital Markets Limited has signed agreements on 23 January with two hydropower companies, United Modi Hydropower Private Limited and ApiPower Company Limited, to act as the issue manager and underwriter for their respective Initial Public Offering. United Modi Hydro Private Limited will be issuing 4,000,000 units of common stock, having total value of Rs 400 million at Rs 100 par value. Currently, United Modi is in the process of converting into a Public Limited Company. United Modi runs the 10MW Lower Modi-1 Hydropower Project in Parbat and is now constructing 10.5 MW Lower Modi-2 Hydropower Project as the second part of the cascade project. Api Power Company Limited will issue up to 2,046,240 units of common stock, having total value up to Rs 204,624,000 at Rs 100 par value. Api Power Company Limited has already started construction of the 8.5 MW Naugard Gad Project in Darchula.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Dahal Appointed Sanima’s CEO</strong></span></div> <div> <img alt="Bhuvan Kumar Dahal" src="/userfiles/images/dahal(2).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 82px; height: 100px;" />Bhuvan Kumar Dahal is appointed as the Chief Executive Officer (CEO) of Sanima Bank for four years. The Board Meeting of Sanima Bank held on 21st January, 2014 made the appointment. Dahal had been working at Sanima Bank as a Deputy Chief Executive Officer (DCEO) for the last seven months. Before joining Sanima Bank, Dahal worked at Nabil Bank for 22 years in various capacities. Last three positions he held in Nabil were Chief Operating Officer, Chief Investment Officer and Chief Financial Officer.</div> <div> </div> <div> </div> <div> <span style="font-size:14px;"><strong>EBL’s ATM in Pashupatinath Temple</strong></span></div> <div> <img alt="Everest Bank Limited (EBL)" src="/userfiles/images/ebl%20(Copy)(1).jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 105px;" />Everest Bank Limited (EBL) has installed its new ATM inside Pashupatinath Temple premises. The ATM was jointly inaugurated by Govind Tandon (Member Secretary-Pashupatinath Trust) and AK Ahluwalia (CEO-EBL). The inaugural function was also attended by dignitaries including officials of Pashupatinath Trust, Bank’s Employees and Brand Ambassador of EBL Sadichha Shrestha. At the same function, the Bank also distributed warm clothes to around 250 elderly people of Pashupatinath Old-age home.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Citizens Bank’s Brach in Siddharthanagar</strong></span></div> <div> <img alt=" Citizens Bank’s Brach in Siddharthanagar" src="/userfiles/images/ctzn%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 116px;" />Citizens Bank International Limited has opened its 37th branch in Siddharthanagar of Rupandehi. On the occasion, the Bank also distributed warm clothes to elderlies of an oldage home of Basanapur VDC of Rupandehi. Branch Manager Rajendra Thapa Chhetri informed that the branch will provide banking service of international standard to the people of Siddharthanagar and neighbouring areas. The Bank also informed that it will install an ATM in Bhairahawa within a week. The Bank has been offering irs services through 37 branches, 36 ATm counters and 46 branchless banking service. </div>', 'published' => true, 'created' => '2014-01-27', 'modified' => '2014-01-27', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Everest Bank Limited (EBL) has installed its new ATM inside Pashupatinath Temple premises. The ATM was jointly inaugurated by Govind Tandon (Member Secretary-Pashupatinath Trust) and AK Ahluwalia (CEO-EBL). The inaugural function was also attended by dignitaries including officials of Pashupatinath Trust, Bank’s Employees and Brand Ambassador of EBL Sadichha Shrestha', 'sortorder' => '2366', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 7 => array( 'Article' => array( 'id' => '2476', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (20 - 26 January 2014)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Citizens’ Branchless Banking in Three New Locations</strong></span></div> <div> Citizens Bank International Limited has commenced its branchless banking service in Nagarkot, Tathali of Bhaktapur and Tarahara of Sunsari. Chief Operating Officer of the Bank Ganesh Raj Pokharel informed that the Bank will start the service in six more locations in near future. The bank has been offering services of cash deposits, cash withdrawal, fund transfer and payment of mobile phone bills and other banking services under branchless banking. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Mega Bank Declares 9% Cash Divided </strong></span></div> <div> Mega Bank Nepal Limited’s 3rd AGM was held in Kathmandu on 13th January 2014. The AGM has declared nine percent cash dividend to its shareholders. The declared cash dividend amounting to Rs 209.7 million has been decided to be distributed from the retained earnings up to the end of last fiscal year. The Chairman of the Bank Dr Madan Kumar Dahal said that it was an achievement for the Bank to distribute significant dividend amount to its shareholders. The CEO of the Bank Anil Keshary Shah expressed his belief that the Bank will continue to grow at a faster pace in future. Furthermore, he reiterated the trust and faith exhibited in the Bank through various achievements such as continuous profit from the very first year, overwhelming response shown by the general public towards the Bank’s IPO and a continuous increase in the Bank’s current share price. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Machhapuchhre Bank’s AGM Held</strong></span></div> <div> The 15th Annual General Meeting of Machhapuchhre Bank was held on 13th January. The AGM endorsed a proposal of allowing the Bank’s board to merge with any other bank and financial institution (BFIs) or to go for strategic partnership with a foreign bank. The Bank operates through 54 branches and an extension counter. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Ace Holds its 8th AGM</strong></span></div> <div> Ace Development Bank held its eighth Annual General Meeting on 13th January under the chairmanship of Executive Committee Chairman Yogendra Shakya. The AGM proposed the issuing of 3.70 percentage of its total paid-up capital as bonus share which amounts to Rs 29,521,300. The AGM also decided to continue with its directive to the Executive Committee to go for merger with appropriate bank and financial institutions. The Bank has been providing its services through 12 branches and one extension counter.</div> <div> </div> <div> <span style="font-size:14px;"><strong>City Express and Kanchan Development Bank Ink Agreement</strong></span></div> <div> City Express Money Transfer and Kanchan Development Bank Ltd have made an agreement to bring in remittance. With this agreement, the remittance sent through City Express can be received from all the branches of Kanchan Development Bank. The agreement was signed by Managing Director of City Express Chandra Tandon and CEO of Kanchan Development Bank Suresh Bahadur Bam. </div>', 'published' => true, 'created' => '2014-01-20', 'modified' => '2014-01-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Citizens Bank International Limited has commenced its branchless banking service in Nagarkot, Tathali of Bhaktapur and Tarahara of Sunsari. Chief Operating Officer of the Bank Ganesh Raj Pokharel informed that the Bank will start the service in six more locations in near future. The bank has been offering services of cash deposits, cash withdrawal, fund transfer and payment of mobile phone bills and other banking services under branchless banking.', 'sortorder' => '2322', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 8 => array( 'Article' => array( 'id' => '2426', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (6 - 12 January 2014)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Civil Bank’s ‘Mobile Mai Nagad’</strong></span></div> <div> Civil Bank Ltd has introduced a new product named ‘Mobile Mai Nagad’ on the occasion of New Year 2014. According to the Bank, this product has a complete range of financial services such as deposit, withdrawal from bank account to mobile account, account to account transfer, payment of shopping bills and utility bills through Hello Paisa Network. The Bank has also introduced Cardless ATM service from which cash can be withdrawn by using mobile phone from any Civil Bank ATM without using ATM Card. The Bank has claimed this feature to be available only in Civil Bank. The Bank has signed an agreement with Hello Paisa for this service. </div> <div> </div> <div> <span style="font-size:14px;"><strong>IME’s ‘Like, Post, Win’ Facebook Contest</strong></span></div> <div> International Money Express Pvt Ltd (IME) has launched a month-long facebook contest titled ‘Like, Post, Win’ from 1st January 2014. All existing customers of IME are eligible for the lucky draw but they will have to like IME’s official facebook page at www.facebook.com/imeremit and this will allow them to open the contest app where they can post their IME control number generated from their remittance transaction along with their personal details. Existing IME facebook page fans also can participate by posting the transaction ID in the facebook page. Gifts will be given to beneficiaries in Nepal in case of international transactions. Two lucky winners will get NTC or NCell recharge cards worth Rs 500 everyday whereas one lucky draw winner will get Colors Xfactor Bold II mobile set every week. At the end </div> <div> of this contest, the bumper lucky draw winner will get an iPad Air. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Nabil Honoured Shareholders on 29th AGM</strong></span></div> <div> Nabil Bank Limited held its 29th Annual General Meeting 27th December 2013 under the chairmanship of Krishna Bahadur Manandhar. The AGM approved the payment of 65 per cent dividend (40 per cent cash dividend and 25 per cent bonus shares), totalling Rs 65 per share as recommended by the Board of Directors of the Bank and approved by Nepal Rastra Bank. The AGM also felicitated two public shareholders Dr Madhav Kumar Shrestha and Ishwar Das Karmacharya for their contribution to the Bank. The shareholder duos were conferred with a shawl and appreciation letter.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Himalayan Bank Announces Cash Dividend and Bonus Share</strong></span></div> <div> Himalayan Bank Limited has decided to provide five percent bonus shares and 10 per cent cash dividend to its shareholders from the profit earned in the last fiscal year. The decision was made by a meeting of Board of Directors of the Bank held on 1st January 2014. According to the Bank, the decision is subject to approval of its upcoming 21st AGM and Nepal Rastra Bank. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Janata Bank’s Extension Counter in Pratappur</strong></span></div> <div> Janata Bank Nepal Limtedhas opened an Extension Counter at Pratappur VDC of Nawalparasi. The Bank has started its transactions from the counter from 1st January 2014. With this, the Bank now has 25 branch offices and two extension counters. </div>', 'published' => true, 'created' => '2014-01-07', 'modified' => '2014-01-07', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Civil Bank Ltd has introduced a new product named ‘Mobile Mai Nagad’ on the occasion of New Year 2014. According to the Bank, this product has a complete range of financial services such as deposit, withdrawal from bank account to mobile account, account to account transfer, payment of shopping bills and utility bills through Hello Paisa Network. The Bank has also introduced Cardless ATM service from which cash can be withdrawn by using mobile phone from any Civil Bank ATM without using ATM Card. The Bank has claimed this feature to be available only in Civil Bank. The Bank has signed an agreement with Hello Paisa for this service.', 'sortorder' => '2271', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 9 => array( 'Article' => array( 'id' => '2381', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief ( 30 December - 5 January 2014)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>National Insurance to Complete Four Decades in Nepal</strong></span></div> <div> National Insurance Company is completing four decades of its operations in Nepal on 1st January 2014. The company will be having a month long nationwide celebration in the month of January. The celebrations will start with cake cutting celebrations in head office in Kathmandu and also in all branch offices in Nepal. The company will be distributing blankets, torches and sports item to various institutions including deaf and dumb children as a part of its CSR activities. It will also conduct one day exclusive session for its women employees which will cover areas of health, stress and communication skills among others. On 5th January, the company is organizing a free health check up and blood donation camp. </div> <div> </div> <div> <span style="font-size:14px;"><strong>NIBL’s 27th AGM Held</strong></span></div> <div> Nepal Investment Bank Limited (NIBL)’s 27th Annual General Meeting was held on 26th December. The Net Profit of the Bank has grown by 84.3 per cent to reach Rs 1.91 billion against previous year’s figure of Rs 1.03 billion. The AGM has decided to distribute 25 per cent cash dividend and 10 per cent stock dividend to the existing shareholders. The Bank has increased its deposits by 9.5 per cent, reaching Rs 62.42 billion against last year’s Rs 57.01 billion. Similarly, total lending of the bank also grew by 11.2 per cent reaching Rs 47.70 billion.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Nabil Invest Relocates Offices</strong></span></div> <div> Nabil Investment Banking Ltd (Nabil Invest), a Subsidiary Company of Nabil Bank Ltd and a Securities Businessperson (Merchant Banker) has shifted its Chabahil and Anamnagar Offices to Central Plaza at Narayanchaur, Naxal. The new office will provide services like issue management, underwriting, registrar to shares, trusteeship services, depository participant in a central depository service (CDS), portfolio management services (PMS), fund management and depository of Nabil Mutual Fund and corporate advisory services. On this occasion, Nabil Invest is providing 50 per cent discount on the annual management fee on limited PMS products.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Mega Bank Supports Aama Ghar</strong></span></div> <div> Mega bank has provided Rs 700,000 to Aama Ghar, a philanthropic initiative undertaken by social worker Dil Shova Shrestha. On a programme held on 23rd December, CEO of Mega Bank Anil Keshary Shah handed over the cheque to Shrestha. Shah said that he felt delighted in supporting philanthropic initiatives like ‘Aama Ghar’. He also encouraged the private sector to take initiative in supporting the deprived and destitute people. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Sanima’s Conducts Blood Donation </strong></span></div> <div> Sanima Bank conducted a blood donation program at its head office in Naxal on the occasion of its 10th year of operation. Under its Corporate Social Responsibility (CSR), the Bank has conducted various activities to mark its 10 years of operation. In the current fiscal year, the Bank has approved Rs 6.3 million for CSR activities. The approved amount is 2.07 per cent of net profit of last fiscal year. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Siddhartha Bank’s Blood Donation Program</strong></span></div> <div> Siddhartha Bank’s Birgunj Branch organized a blood donation program on 25th December On the occasion of the Bank’s 11th Anniversary. 160 donors participated in the program organized at the branch premises.</div>', 'published' => true, 'created' => '2013-12-31', 'modified' => '2013-12-31', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'National Insurance Company is completing four decades of its operations in Nepal on 1st January 2014. The company will be having a month long nationwide celebration in the month of January. The celebrations will start with cake cutting celebrations in head office in Kathmandu and also in all branch offices in Nepal. The company will be distributing blankets, torches and sports item to various institutions including deaf and dumb children as a part of its CSR activities.', 'sortorder' => '2224', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 10 => array( 'Article' => array( 'id' => '2292', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (16 - 22 December 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><span style="font-size:14px;">NUBL and BHCT Sign MoU</span></strong></div> <div> Nirdhan Utthan Bank Limited (NUBL) has signed an MoU with UK-based INGO, The Blueberry Hill Charitable Trust (BHCT) to implement the project ‘Sustainable Access to Finance and Livelihoods in Nepal (SAFAL Nepal). The project is funded by UKaid through DFID. NUBL and BHCT will work together under a deficit-subsidy partnership model to expand financial services in remote areas of four districts- Panchthar, Doti, Dadeldhura, and Ilam. The project aims to improve the livelihoods of hill and mountain communities through sustainable access to finance linked with appropriate livelihood opportunities and local institutional strengthening. Under this partnership model, BHCT will support NUBL financially and technically for initial start-up and client capacity building; and NUBL will manage loan funds for the deficit-subsidy partnership model.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Citizens’ Branchless Banking in Jhapa</strong></span></div> <div> Citizens Bank International Limited has started its 42nd branchless banking service in Shivagunj of Jhapa. According to the bank, the service is started to offer modern banking facilities to the residents in remote parts of Nepal. The bank has plans of providing at least one branchless banking service in each zone, and has informed that that the number will reach 50 in near future. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Shah’s Tenure Extended</strong></span></div> <div> Mega Bank Nepal Limited has extended the tenure of its Chief Executive Office Anil Shah by another four years. The decision was made by a meeting of Board of Directors of the bank on Monday. With this decision, Shah will be the CEO of the bank till December 9, 2017. Shah is also the founding CEO of the bank. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Gandaki Starts Mobile Banking Service</strong></span></div> <div> Gandaki Bikas Bank Limited has started providing Mobile Banking Service to its customers. Now, the bank will be offering facilities of fund transfer through mobile, mobile recharge, phone bill payment, balance enquiry through SMS, mini statement, and new checkbook issuance among others. The bank also has been providing ATM and ABBS service. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Cosmos Share Applicantion Exceed Five Times than Demand</strong></span></div> <div> The applicants of primary shares in Cosmos Development Bank exceed five times than its demand. The bank has its main branch in Gorkha. “The bank had demanded the applications of public shares worth Rs 17.5 millions with the rate of Rs 100 per share but it has received the demands of more than Rs 110 millions,” Rajendra Pudasaini, Marketing Manager of the bank informed. He said that the applications are from Kathmandu, Chitwan, Butwal, Lalitpur, Parsa, Sarlahi, Narayangarh, Lamjung along with the districts. The bank had issued shares worth 40 per cent of the total capital from December 8th to 9th.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Tinau Bank provides 12 percent Bonus Share</strong></span></div> <div> Tinau Development Bank is to distribute 12 per cent of bonus share. This proposal was approved by Board of Directors during 7th Annual General Meeting of the bank. The AGM also has approved that the right share will be issued in the ratio of 0.25:1 of paid up capital as well as increase authorized capital and issued capital. “After the issuance of right share, the authorized capital of the bank will be Rs 300 million, issued capital R 250 million and paid-up capital will be Rs 16.1 mllion,” informed Pradip Kumar Shrestha, Chief Executive Officer of the bank. The AGM has also endorsed the audit report of fiscal year 2012/13, balance sheet till 2013 June and profit-loss and cash flow details. </div>', 'published' => true, 'created' => '2013-12-17', 'modified' => '2013-12-17', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Nirdhan Utthan Bank Limited (NUBL) has signed an MoU with UK-based INGO, The Blueberry Hill Charitable Trust (BHCT) to implement the project ‘Sustainable Access to Finance and Livelihoods in Nepal (SAFAL Nepal). The project is funded by UKaid through DFID. NUBL and BHCT will work together under a deficit-subsidy partnership model to expand financial services in remote areas of four districts- Panchthar, Doti, Dadeldhura, and Ilam.', 'sortorder' => '2134', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 11 => array( 'Article' => array( 'id' => '2251', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (9 - 15 December 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:16px;"><strong>Jyoti, Sewa in Remittance Pact</strong></span></div> <div> <img alt="" src="/userfiles/images/mm1.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 87px;" />Jyoti Development Bank Ltd and Sewa Remit Pvt Ltd have signed an agreement to provide remittance service. Bank’s Chief Executive Officer (CEO) Govinda Prashad Upadhyaya and Sewa Remit’s Managing Director Damodar Khanal signed the agreement last Tuesday. Following the agreement, remittance services of Sewa Remit’s would be available from all the branches of Jyoti Development Bank. Sewa Remit is providing the remittance services mainly from the gulf countries. </div> <div> </div> <div> <strong><span style="font-size:16px;">Best Remit Signs Pact with 11 BFIs</span></strong></div> <div> <img alt="" src="/userfiles/images/mm2.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 104px;" />In a bid to expand its services, Best Remit Nepal Pvt Ltd has signed remittance agreement with 11 various banking and financial institutions. The Company, which has been attracting remittance from various countries, has said that it signed agreement with various BFIs based in urban and rural areas. The company has recently signed the remittance Birendranagar based Kaakrebihar Development Bank, Gorkha based Manaslu Development Bank, Butwal-based Ekata Development Bank, Morang based Saptakoshi Development Bank, Nawalparasi based Rising Development Bank and Lalitpur based Sagarmatha Merchant Banking and Finance. Likewise, Best Remit has also signed the agreement with Guheswori Merchant Banking and Finance and Reliance Finance of Kathmandu, among other BFIs. </div> <div> </div> <div> <strong><span style="font-size:16px;">Reliance Finance in Fifth Year</span></strong></div> <div> <img alt="" src="/userfiles/images/mm3.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 77px;" />Reliance Finance Ltd has entered the fourth year of its operation from last Tuesday. On the occasion of fifth anniversary, the Bank distributed blankets and food to the children and elders of Conflict Victim and Disabled Society in Sankhu. The Company with Rs 200 million paid-up capital has collected Rs 20 million deposit in Fiscal Year 2012-13. During the occasion, the Company informed that its deposit has increased by 19.43 per cent during the review period. </div> <div> </div> <div> <strong><span style="font-size:16px;">Triveni to Distribute 20pc Dividend</span></strong></div> <div> <img alt="" src="/userfiles/images/mm4.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 55px;" />The 10th Annual General Meeting (AGM) of the Triveni Development Bank has approved the 20 per cent dividend distribution proposal. The AGM of the Bank held at Bharatpur last Friday has endorsed the 20 per cent dividend- 19 per cent bonus shares and 1 per cent cash. The Company has said that its paid-up capital will exceed Rs 370 million after distributing the approved bonus. The AGM has also unanimously elected Prof Dr Bhim Prashad Neupane, Lok Bahadur KC, Raj Kumar Shrestha, Bijay Subedi, Tanka Prashad Dhakal and Nir Prashad Lamichhane to represent the share holders in the Board of the Directors.</div> <div> </div> <div> <strong><span style="font-size:16px;">BOK Joins Hand with BHCT</span></strong></div> <div> <img alt="" src="/userfiles/images/mm5.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 75px;" />Bank of Kathmandu Limited has signed an agreement with The Blueberry Hill Charitable Trust (BHCT) for Samriddha Pahad Project and Sustainable Access to Finance and Livelihood Project (SAFAL Nepal). The agreement was made so as to explore opportunities in increasing access to finance for rural smallholder farmers, small and micro entrepreneurs (SMEs) and other relevant business entities in Nepal.</div>', 'published' => true, 'created' => '2013-12-09', 'modified' => '2013-12-09', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Jyoti Development Bank Ltd and Sewa Remit Pvt Ltd have signed an agreement to provide remittance service. Bank’s Chief Executive Officer (CEO) Govinda Prashad Upadhyaya and Sewa Remit’s Managing Director Damodar Khanal signed the agreement last Tuesday.', 'sortorder' => '2093', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 12 => array( 'Article' => array( 'id' => '2167', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (25 November - 1 December 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Citizens Post 100m Profit</strong></span></div> <div> Citizens Bank International Ltd has earned Rs 100 million net profit on the first quarter of current fiscal year. The Bank had made Rs 670 million net profit in the same period of the last fiscal year. According to the unaudited financial report of the first quarter of current fiscal year made public by the Bank, the Company has collected Rs 23.28 billion deposit and floated the loan amount Rs 19.23 billion during the period. According to the Bank, its paid-up capital has now reached Rs 2.10 billion.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Century Observes Net Profit Surge</strong></span></div> <div> The net profit of Century Bank Ltd has increased in the first quarter of the Fiscal Year 2013-14, according to the unaudited financial report of the Company. The Bank has said that its net profit has increased to 23.9 million in the first quarter of the current fiscal year from Rs 1.8 million in the same period of last fiscal year. According to the report, net interest income of the Bank has also increased in recent period. The Bank had earned Rs 58.6 million net interest income in first quarter of the last fiscal year, while the net interest income reached Rs 67.3 million in the first quarter of the current fiscal year. According to the Bank, it has the liquidity ratio of 27.92 per cent. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Manaslu’s Net Profit 1.5m</strong></span></div> <div> Manaslu Development Bank has posted a net profit of Rs 1.54 million in the first quarter of the current fiscal year. The Bank, headquartered at Gorkha, has collected Rs 577 million deposit, while floated Rs 486.1 loan during the same period. According to the unaudited quarterly financial report of the Bank, it has earned Rs 6.8 million interest income in the first quarter of current fiscal year. The Bank, which holds Rs 120 million paid-up capital, has allocated Rs 380,860 for loan loss provision. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Shangri-la Registers 15.4m Net Profit</strong></span></div> <div> Shangrila Development Bank has posted Rs 15.42 million net profit in the first quarter of the current fiscal year. According to the unaudited quarterly financial report of the Company, it has collected a total of Rs 3.28 billion deposit and extended Rs 2.81 billion loan in the same period. The Bank has extended Rs 109 million rupees in the real state sector alone during the first quarter of the Fiscal Year 2013-14. The Bank, headquartered at Pokhara, has Rs 19.28 of per share income. </div> <div> </div> <div> <span style="font-size:14px;"><strong>ADBL’s Net Interest Income Plummets</strong></span></div> <div> The net interest income of Agriculture Development Bank Ltd has declined in the first quarter of current fiscal year in comparison to the same period of previous fiscal year. According to the quarterly financial report of the Bank, its net interest income has plummeted to Rs 1.58 billion in the first quarter of the current fiscal year from Rs 4.72 billion in the same period of last fiscal year. Though the Bank observed a drop in the net interest income, there was nominal increment in the total deposit collected and the loan floated by the bank during the first quarter as compared to the same period of the last fiscal year. According to the financial report, the Bank has collected Rs 60.68 billion deposit and floated Rs 50.72 billion in the first quarter of current fiscal year, while the Bank had collected Rs 54.43 billion deposit and extended a total of Rs 49.72 billion loan in the same period of last fiscal year. </div>', 'published' => true, 'created' => '2013-11-26', 'modified' => '2013-11-26', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Citizens Bank International Ltd has earned Rs 100 million net profit on the first quarter of current fiscal year. The Bank had made Rs 670 million net profit in the same period of the last fiscal year.', 'sortorder' => '2012', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 13 => array( 'Article' => array( 'id' => '2048', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (28 October - 3 November 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Sunrise’s Branch at Lagankhel</strong></span></div> <div> Sunrise Bank Ltd has established its new branch at Lagankhel in Lalitpur. Bank’s Chief Executive Officer (CEO) Surendraman Pradhan inaugurated the newly opened branch last Thursday. The Bank has shifted its branch from Harisiddhi to Lagankhel. According to the Bank, all the banking transactions of the Harisiddhi branch will be held now onwards through newly opened Lagankhel branch. It has also informed that the branch will provide micro and middle enterprise loan, hire purchase and safe locker, among other services. The company has told that it is serving around 222 thousands customers. It has 50 branches and 59 ATM counters across the country.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Ailing Journo Gets Mega’s Aid</strong></span></div> <div> Mega Bank Ltd has provided the financial assistance of Rs 25 thousand to the ailing journalist BK Palpali. Palpali is undergoing treatment in India after his both kidneys were failed. Mega Bank’s Chief Executive Officer (CEO) Anil Keshary Shah handed over the cheque of financial assistance to vice president of Federation of Nepali Journalists, Yashoda Timsina, and ‘Save BK Palpali Campaign’ coordinator Radheshyam Lekali amid a programme last Thursday. Shah said that his company decided to provide support to Palpali so that financial assistance could be collected from the corporate sector. He also requested other companies to support Palpali on his treatment.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Century’s Gold-silver Loan</strong></span></div> <div> Century Commercial Bank Ltd has started the gold and silver loan service from its Belbari branch from last Thursday. Prior to this, the Bank was providing such service from its Newroad, Putalisadak, Dharan, Manbhawan, Pokhara and Boudha branches. Likewise, the Bank has also started the ‘Platinum Saving Account’, on which it will provide 8.25 per cent interest on the daily saving. According to the press release of the company, this account could be opened with minimum deposit amount of Rs 500,000. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Jyoti Brings Two Loan Schemes</strong></span></div> <div> Jyoti Development Bank has brought Jyoti micro and middle loan and Jyoti Agricultural Loan. The Bank has said that it will extend the loan at a cheaper interest rate to its customers through these loan schemes. According to these schemes, the Bank will provide the loan for starting micro and middle level enterprises and businesses. The loan amount will be from Rs 300,000 to 5 million. Likewise, it will provide the loan amount of Rs 100,000 to 2.5 million under agricultural loan. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Muktinath’s Operating Profit Rs 39m</strong></span></div> <div> Muktinath Development Bank Ltd has posted the profit of Rs 39 million until the mid October. The Bank has collected the total deposit amount Rs 3.90 billion, while extended the loan Rs 3.35 billion during the review period. According to the Bank’s Chief Executive Officer (CEO) Bharat Dhakal, it has started gold loan and locker services from its head office Pokhara and Syangja branch. He also informed that the Banks is going to start the mobile banking service very soon. It has made 10 districts as its working areas.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Excel’s 50pc Bonus Share Approved </strong></span></div> <div> Nepal Rastra Bank (NRB) has approved the bonus share distribution proposal of Excel Development Bank. The company has proposed for the distribution of 50 per cent bonus share and 2.63 per cent cash dividend on Fiscal Year 2012/13. The Bank has said that it will distribute the dividend following the endorsement of the proposal from its upcoming Annual General Meeting.</div>', 'published' => true, 'created' => '2013-10-28', 'modified' => '2013-10-29', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Sunrise Bank Ltd has established its new branch at Lagankhel in Lalitpur. Bank’s Chief Executive Officer (CEO) Surendraman Pradhan inaugurated the newly opened branch last Thursday. The Bank has shifted its branch from Harisiddhi to Lagankhel.', 'sortorder' => '1899', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 14 => array( 'Article' => array( 'id' => '1990', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (21 -27 October 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>NMB’s ATM at Babarmahal</strong></span></div> <div> NMB Bank has started its new ATM service at the premise of Kathmandu District Court (KDC) in Babarmahal. KDC Judge Achyut Bista inaugurated the newly established counter on October 10. This counter is expected to help on banking services for the beneficiaries of the court. With this counter, the total number of the ATM counters of NMB has reached 27. Likewise, The Bank has 26 branches and one extension counter across the country.</div> <div> </div> <div> <strong><span style="font-size:14px;">Standard Chartered Marks World Sight Day</span></strong></div> <div> Standard Chartered Bank Nepal organised a talk program on ‘Eye Banking and Eye Donation’ at its Head Office in Naya Baneshwore on October 10 to mark the World Sight Day 2013. The Bank also organised a dry eye check up camp at its premises in Biratnagar Branch. According to the press release of the Bank, it had extended a financial assistance of $1 million for the construction of Biratnagar Eye Hospital in Biratnagar with a view to reinforce the ‘Seeing is Believing’ agenda in Nepal. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Citizen’s 15pc Dividend Approved</strong></span></div> <div> Citizen Bank International Ltd has approved the proposal to distribute 15 per cent dividend. The Seventh Annual General Meeting (AGM) of the Bank held on October 8 made the decision to this effect. The Bank has made the net profit worth Rs 413.2 million in the Fiscal Year 2011-12. Likewise, the Bank has collected the total deposit worth Rs 22.74 billion rupees and extended the loan amount Rs 17.95 billion in the review period. Bank’s Chairman Pradeep Jung Pandey has presented the financial report in the AGM. According to Pandey, the Bank has planned to open its branch offices in Jumla, Jajarkot and Siddharthanagar within 3 months. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Everest Establishes Information Board at Pashupati</strong></span></div> <div> Digital Information Board has been established in the western gate of the Pashupatinath Temple with the support of Everest Bank Ltd. The Board aims to inform the devotees at the Temple about the prayer schedule, special programs to be held and donations received by the Pashupati Area Development Trust (PADT). According to the joint press release issued by the Everest Bank and PADT, the institutions have pledged to conduct other development works in the collaboration in the near future. </div> <div> </div> <div> <span style="font-size:14px;"><strong>NMB Announces 15pc Dividend</strong></span></div> <div> NMB Bank has announced 15 per cent dividend to its share holders. The meeting of the Board of Directors (BOD) held at the first week of the October made such decision. The dividend distribution will come into effect after getting the approval from the Nepal Rastra Bank and the upcoming Annuan General Meeting of the company, states the press release of the NMB.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Kumari’s Banking Literacy Campaign</strong></span></div> <div> Kumari Bak Ltd has organised a banking literacy programme. The programme was organised on the first week of October at Balaju Engineering College in the coordination of Swati Sadan Campus. The Bank’s Relationship Manager Bishwas Raj Aryal has informed the students about the importance of saving and the banking system. Over 200 students have participated in the campaign.</div>', 'published' => true, 'created' => '2013-10-21', 'modified' => '2013-10-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'NMB Bank has started its new ATM service at the premise of Kathmandu District Court (KDC) in Babarmahal. KDC Judge Achyut Bista inaugurated the newly established counter on October 10. This counter is expected to help on banking services for the beneficiaries of the court. With this counter, the total number of the ATM counters of NMB has reached 27. Likewise, The Bank has 26 branches and one extension counter across the country.', 'sortorder' => '1840', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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The company says the new launches are aimed at catering to its customers’ need for high-speed internet and contributing to post-quake relief and rebuilding works.</div> <div> </div> <div> The buyers of the devices will also get 500 MB data bonus for free. The company said the devices are available in all Ncell Centers, Ncell Shops and all authorized sales outlets.</div> <div> </div> <div> These high internet devices allow users to access internet at download speed of up to 21.6 MB per second and upload speed of up to 5.76 MB per second. Wireless routers allow up to 10 simultaneous users with battery backup of up to six hours. The speed of internet on these devices depends on speed available in the given locality and also on the external factors.</div> <div> </div> <div> The devices need a SIM along with data package to access the internet which enables Ncell subscribers to access internet services anytime, anywhere with Ncell 3G network. The devices are compatible to Windows and iOS.</div> <div> </div> <div> “Experiences across the world have shown that access to internet can much support relief and rebuilding works, and contribute to better manage post-quake impacts. Hence, respecting the need of the hour and customers demand, we have once again made high speed dongles and wireless routers available to our customers. We believe this will enable our customers to stay connected with the dear ones, businesses and support agencies across the world,” said Milan Sharma, corporate communications expert of Ncell.</div> <div> </div> <div> The dongles are available at Rs. 2699 (Including taxes), while wireless routers are available at Rs. 5399 (Including taxes). Customers can also get 500 MB data coming with the device transferred to their existing numbers along with the purchase of the device from Ncell Centers.</div>', 'published' => true, 'created' => '2015-06-07', 'modified' => '2015-07-29', 'keywords' => '', 'description' => 'Telecom giant Ncell has launched Ncell connect dongles and wireless routers. The company says the new launches are aimed at catering to its customers’ need for high-speed internet and contributing to post-quake relief and rebuilding works.', 'sortorder' => '2670', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 1 => array( 'Article' => array( 'id' => '2748', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (10-16 March 2014)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>NIC ASIA’s 16th AGM Held</strong></span></div> <div> NIC Asia Bank held its 16th Annual General Meeting in Biratnagar on 28th February. This is the first AGM held after the commencement of the operation as NIC ASIA Bank, formed through the merger of former NIC Bank and Bank of Asia. The AGM has approved the issue of cash dividend of Rs 20 per share for the year 2012/2013. Dividend will be distributed from 4th March 2014. For the fiscal year, the Bank’s deposit reached Rs 39.91 billion, lending to Rs 31.55 billion and posted a net profit of Rs 642 million. Jagadish Prasad Agrawal, Trilok Chandra Agrawal, Tulsiram Agrawal, Lokmanya Golcha and Ramchandra Sanghai were elected from the promoters shareholders group in the AGM. Similarly, Rajendra Prasad Aryal, Birendra Kumar Sanghai and Binod Kumar Pyakurel were elected unanimously for another term from public shareholders group as directors.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Everest Bank’s 73rd ATM at Machhapokhari</strong></span></div> <div> Everest Bank Limited has installed a new ATM at Machhapokhari. With this, the network of the Bank has now reached to 73 ATMs along with 50 branches, five Extension Counters and 22 Revenue Collection Counters. The ATM was inaugurated by Chief Executive Officer of the Bank AK Ahluwalia. The inaugural function was also attended by other dignitaries including brand ambassador of the Bank Sadichha Shrestha. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Nepal SBI Bank Launches Indian Railway Ticket Booking Utility </strong></span></div> <div> Nepal SBI Bank Ltd has started online ticket booking services for Indian trains for its customers. The service was started by Indian ambassador to Nepal Ranjit Rae on 28th February amid a ceremony. Deputy Governor Maha Prasad Adhikari participated in the ceremony as the special guest. According to a press statement from the Bank, the online ticket services provided through its online portal is the first of its kind in Nepal and is expected to benefit Nepalis who visit India for various proposes. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Kumari Bank’s ATM at Balkhu </strong></span></div> <div> Kumari Bank Limited has installed a new ATM at Balkhu on 5th March, 2014. The Bank has been providing modern banking services to its customers through 28 branches, two extension counters and 39 ATM locations throughout the country. </div> <div> </div> <div> <strong>Apex Development Bank Gets New CEO</strong></div> <div> Gobind Prasad Upadhyay has been appointed as the new CEO of Apex Development Bank. A recent meeting of Board of Directors of the Bank made the decision. Upadhyaya has been associated with various banks and financial institutions for the past 14 years. Prior to joining Apex Development Bank, he was the CEO of Jyoti Bikash Bank. </div>', 'published' => true, 'created' => '2014-03-10', 'modified' => '2014-03-10', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'NIC Asia Bank held its 16th Annual General Meeting in Biratnagar on 28th February. This is the first AGM held after the commencement of the operation as NIC ASIA Bank, formed through the merger of former NIC Bank and Bank of Asia.', 'sortorder' => '2589', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 2 => array( 'Article' => array( 'id' => '2705', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (3 - 9 March 2014)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Himalremit’s ‘Himalotsav’ to Hit the Road Soon</strong></span></div> <div> HimalRemit is going to organize a road show named ‘Himalotsav’ in different parts of the country. Accoridng to a press statement, this entertainment based road show comprising popular artists will not only entertain the families of HimalRemit customers, but will also inform them about HimalRemit’s remittance services. The road show will start from East Ilam, journeys through far western regions and ends at Baglung. ‘Himalotsav’ will have Indira Joshi and Nima Rumba performing their popular songs whereas Jeetu Nepal will entertain with his comedy acts. The shows will be held at Damak, Ilam, Birtamod, Dharan, Gaighat, Janakpur, Sindhuli, Chandranigahapur, Narayanghat, Dhangadi, Mahendranagar, Dang, Butwal and Baglung.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Samsara Money Transfer appoints Parash Khadka as Brand Ambassador </strong></span></div> <div> Samsara Money Transfer has appointed Parash Khadka, the Captain of national cricket team as its brand ambassador. As per the terms of the contract, Khadka will endorse the company’s products and services through advertising campaigns and other promotional programmes during the term of the agreement. “Paras’s choice was almost spontaneous for I could hardly think of another person befitting the values of Brand Samsara so well. He is a true son-of-the-soil, a focused leader, passionate and most of all, humble who will lead the numerous initiatives that are on the anvil,” said Suraj Chhetri, Director, Marketing and Business Development of Samsara. “I’m very happy and proud to be associated with one of a leading money transfer companies in Nepal,” shared Parash Khadka on his association. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Everest Bank’s ATM at Grande Int’l Hospital</strong></span></div> <div> Everest Bank Limited (EBL) has installed its new ATM inside Grande International Hospital premises. The ATM was jointly inaugurated by Chief Executive Officer of EBL AK Ahluwalia along with Chairman and Directors of Grande Hospital. With this, the network of the Bank has reached to 72 ATMs along with 50 branches, 5ndExtension Counters ad 22 Revenue Collection Counters.</div> <div> </div> <div> <span style="font-size:14px;"><strong>NIBL’s ATM at PADT Premises</strong></span></div> <div> Nepal Investment Bank Limited (NIBL) has installed its 77th ATM in the premises of Pashupati Area Development Trust (PADT) at Gaushala. The ATM was installed on the occasion of 28th anniversary of the Bank and Mahashivaratri. The ATM was inaugurated by the Member Secretary of PADT Dr Govinda Tandon in the presence of Bank’s Chairman Prithivi Bahadur Pande and CEO Jyoti Prakash Pandey. NIBL with a total number of 44 branches, has a customer base of about six hundred thousand and paid-up capital of over Rs 4 Billion. </div>', 'published' => true, 'created' => '2014-03-03', 'modified' => '2014-03-03', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'HimalRemit is going to organize a road show named ‘Himalotsav’ in different parts of the country. Accoridng to a press statement, this entertainment based road show comprising popular artists will not only entertain the families of HimalRemit customers, but will also inform them about HimalRemit’s remittance services.', 'sortorder' => '2549', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 3 => array( 'Article' => array( 'id' => '2676', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (24 February - 2 March 2014)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Everest Bank Renews Contract with Sadichha Shrestha </strong></span></div> <div> <img alt="Sadichha Shrestha" src="/userfiles/images/mm.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 105px;" />Everest Bank has renewed its contract with Sadichha Shrestha to continue her as its Brand Ambassador for further one year. Shrestha, former Miss Nepal has been promoting products and services of the Bank by featuring in advertisements as well as representing the Bank in different forums since last year. In a program held at the Bank’s head office, CEO AK Ahluwalia and Sadichha Shrestha exchanged the agreement. “Everest Bank is an established brand and is looked upon as a very strong Bank. Now, to make it a household name, Sadichha will continue to play an active role and we are quite hopeful in her ability to do so,” said Ahluwalia in the function. </div> <div> </div> <div> <span style="font-size:14px;"><strong>NMB Bank Opens Branch in Putalisadak</strong></span></div> <div> <img alt="NMB Bank" src="/userfiles/images/mm1(1).jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 65px;" />NMB Bank Ltd has opened a new branch in Putalisadak, making the total number of branches operating in the country 26. The new branch is a relocation of the Bank’s previous branch at Durbar Marg.. Presently, the Bank is providing its services through its branches, 30 ATMs and other alternative delivery channels in different parts of the country. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Civil Bank Starts Branchless Banking</strong></span></div> <div> <img alt="Civil Bank Starts Branchless Banking" src="/userfiles/images/mm2(1).jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 132px;" />Civil Bank has started its Branchless Banking service from Tharpu VDC of Panchthar district. The service was jointly inaugurated by the CEO of the Bank Kishore Maharjan and DSP Deep Shamsher Rana. “For justifying and moving forward towards fulfilling our mission of becoming every Nepali’s banking partner by extending all types of banking services, we have launched this service targeting farmers residing in villages to big businesses in cities,” said Maharjan. Through this new service, customers will be able to avail facilities like secure fund withdrawal, fund deposit, fund transfer from one account to another, mobile phone recharge, ATM cards, remittance facility, MobilemaiNagad facility, SMS alert, checking of account balance and printing of statements among others. The Bank also informed that its employees have been assigned to the area for arranging micro credit in a simplified manner to interested customers for running Small and Medium Enterprises as well as Agro-businesses. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Siddhartha Bank opens 42nd Branch in Birtamod</strong></span></div> <div> <img alt="Siddhartha Bank " src="/userfiles/images/mm3(1).jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 49px;" />Siddhartha Bank has inaugurated its 42nd branch at Birtamod, Jhapa on February 16. The branch was jointly inaugurated by the Chief District Officer of Jhapa Ekmani Nepal and Bank’s Director Poonam Chand Agrawal. According to a statement from the Bank, it will be providing a wide array of banking products and services along with ATM facility from the branch.</div>', 'published' => true, 'created' => '2014-02-25', 'modified' => '2014-02-25', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Everest Bank has renewed its contract with Sadichha Shrestha to continue her as its Brand Ambassador for further one year. Shrestha, former Miss Nepal has been promoting products and services of the Bank by featuring in advertisements as well as representing the Bank in different forums since last year.', 'sortorder' => '2519', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 4 => array( 'Article' => array( 'id' => '2615', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief ( 17 - 23 February 2014)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Everest Bank Donates Computers to School</strong></span></div> <div> Everest Bank Limited donated computers to Shree Triveni Higher Secondary School, a government school at Katari, Udayapur as a part of its Corporate Social Responsibility on 10th February. AK Ahluwalia, CEO of the Bank handed over the Computers to Balkrishna Karki, Head Master of the School amid a function organized at Corporate Office of the Bank. “Everest Bank is committed to making a difference in the lives of children through quality education. We are thus happy and proud to be involved in the effort to improve education and infrastructure across the rural Nepal,” said Ahluwalia in the event. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Beed Invest’s New Range Of Products</strong></span></div> <div> Beed Invest Limited, Nepal’s first operational portfolio management company licensed by Securities Board of Nepal (SEB0N) has launched a new set of products targeting individual as well as institutional investors. According to the company, the products aim at providing a steady and sustained return to its customers. The products ‘Lagani Briddhi Plus’, ‘Sanchaya Plus’ and ‘Expor Plus’ are catered to individual customers while ‘Paramarsha Plus’ and ‘Salaaha Plus’ are catered to institutional investors. While ‘Lagani Briddhi Plus’ caters to customers with a high risk appetite, ‘Sanchaya Plus’ is for customers with a lower risk appetite; and ‘Expor Plus’ caters to clients who already have an existing portfolio with Beed Invest, which will be reviewed, restructured and constantly monitored. “We are very happy to be continuously providing steady return to our existing clients despite the volatility in the stock market,” said Sujeev Shakya, Chairman of Beed Invest. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Civil Bank Launches ‘Hastakala Karza’</strong></span></div> <div> Civil Bank Limited has launched ‘Civil Bank Hastakala Karza’ targeting the Small and Medium Enterprises (SME) involved in handicraft business. “The primary objective of this product is to provide loans and other financial services to the handicraft business entrepreneurs in most efficient and hassle-free manner. It will promote the handicraft business in Nepal thereby increasing the export of the country’s handicraft products to a certain extent for enhancing the FCY revenue of the country,” said Kishore Maharjan, Chief Executive Officer of the Bank. The Bank has made arrangements for handicraft entrepreneurs to obtain a maximum loan limit of Rs one million without the need for any land and building as collateral under the Civil Bank Hastakala Karza. </div> <div> </div> <div> <strong><span style="font-size:14px;">Global IME’s Branchless Banking in Khudunabari </span></strong></div> <div> Global IME Bank has started branchless banking at Khudunabari, Jhapa. According to a statement from the bank, the service was started by handing over certificates to market representatives. On the same occasion, the Bank organized a programme to enhance financial literacy among the locals. Shanta Shivakoti, Chief of Marketing and Business Promotions of the Bank and Surendra Regmi, Chief Credit Officer of the Bank answered the queries of the locals in the programme. </div>', 'published' => true, 'created' => '2014-02-18', 'modified' => '2014-02-18', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Global IME Bank has started branchless banking at Khudunabari, Jhapa. According to a statement from the bank, the service was started by handing over certificates to market representatives.', 'sortorder' => '2459', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 5 => array( 'Article' => array( 'id' => '2573', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (7-16 February 2014)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Machhapuchchhre’s Limited Banking at Mahendranagar</strong></span></div> <div> Machhapuchchhre Banl Limited has opened a Limited Banking Outlet in Mahendranagar of Dhanusha. The outlet was inaugurated by the Director of the Bank Birendra Prasad Mahato. With the newly opened outlet, the Bank now has 54 branches, one extension counter and 65 ATMs. </div> <div> </div> <div> <span style="font-size:14px;"><strong>KIST Bank Gets New CEO, Dy CEO</strong></span></div> <div> Kumar Lamsal has joined Kist Bank as the new Chief Executive Officer (CEO) of the Bank from 2nd January. Similarly, Ashok Sherchan also joined office from the sane date as Deputy CEO. Before Joining KIST Bank, Lamsal was the CEO of Sanima Bank and Sherchan was the CEO of Prabhu Development Bank. According to a statement from the Bank, Lamsal has an experience of 24 years in the banking sector, whereas Deputy CEO Sherchan has been in the banking industry for </div> <div> 18 years. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Interaction Programme of Global IME</strong></span></div> <div> Global IME Bank conducted an interaction programme in Myagdi on 29th January, aiming to raise awareness about the banking services. The programme was held in the presence of the Chief District Officer (CDO) Chandra Bahadur Karki and was attended by the Chairman and members of Myagdi Chamber of Commerce and Industry, according to a press statement from the bank. The bank informed local business persons about services including small business loan and agricultural loan schemes along with the necessity of banking services. </div>', 'published' => true, 'created' => '2014-02-09', 'modified' => '2014-02-10', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Machhapuchchhre Banl Limited has opened a Limited Banking Outlet in Mahendranagar of Dhanusha. The outlet was inaugurated by the Director of the Bank Birendra Prasad Mahato. With the newly opened outlet, the Bank now has 54 branches, one extension counter and 65 ATMs.', 'sortorder' => '2417', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 6 => array( 'Article' => array( 'id' => '2523', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (27 January - 02 February 2014)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>NIBL Capital Markets Sign Agreement with Hydro Companies </strong></span></div> <div> <img alt="NIBL" src="/userfiles/images/nibl%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 29px;" />NIBL Capital Markets Limited has signed agreements on 23 January with two hydropower companies, United Modi Hydropower Private Limited and ApiPower Company Limited, to act as the issue manager and underwriter for their respective Initial Public Offering. United Modi Hydro Private Limited will be issuing 4,000,000 units of common stock, having total value of Rs 400 million at Rs 100 par value. Currently, United Modi is in the process of converting into a Public Limited Company. United Modi runs the 10MW Lower Modi-1 Hydropower Project in Parbat and is now constructing 10.5 MW Lower Modi-2 Hydropower Project as the second part of the cascade project. Api Power Company Limited will issue up to 2,046,240 units of common stock, having total value up to Rs 204,624,000 at Rs 100 par value. Api Power Company Limited has already started construction of the 8.5 MW Naugard Gad Project in Darchula.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Dahal Appointed Sanima’s CEO</strong></span></div> <div> <img alt="Bhuvan Kumar Dahal" src="/userfiles/images/dahal(2).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 82px; height: 100px;" />Bhuvan Kumar Dahal is appointed as the Chief Executive Officer (CEO) of Sanima Bank for four years. The Board Meeting of Sanima Bank held on 21st January, 2014 made the appointment. Dahal had been working at Sanima Bank as a Deputy Chief Executive Officer (DCEO) for the last seven months. Before joining Sanima Bank, Dahal worked at Nabil Bank for 22 years in various capacities. Last three positions he held in Nabil were Chief Operating Officer, Chief Investment Officer and Chief Financial Officer.</div> <div> </div> <div> </div> <div> <span style="font-size:14px;"><strong>EBL’s ATM in Pashupatinath Temple</strong></span></div> <div> <img alt="Everest Bank Limited (EBL)" src="/userfiles/images/ebl%20(Copy)(1).jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 105px;" />Everest Bank Limited (EBL) has installed its new ATM inside Pashupatinath Temple premises. The ATM was jointly inaugurated by Govind Tandon (Member Secretary-Pashupatinath Trust) and AK Ahluwalia (CEO-EBL). The inaugural function was also attended by dignitaries including officials of Pashupatinath Trust, Bank’s Employees and Brand Ambassador of EBL Sadichha Shrestha. At the same function, the Bank also distributed warm clothes to around 250 elderly people of Pashupatinath Old-age home.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Citizens Bank’s Brach in Siddharthanagar</strong></span></div> <div> <img alt=" Citizens Bank’s Brach in Siddharthanagar" src="/userfiles/images/ctzn%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 116px;" />Citizens Bank International Limited has opened its 37th branch in Siddharthanagar of Rupandehi. On the occasion, the Bank also distributed warm clothes to elderlies of an oldage home of Basanapur VDC of Rupandehi. Branch Manager Rajendra Thapa Chhetri informed that the branch will provide banking service of international standard to the people of Siddharthanagar and neighbouring areas. The Bank also informed that it will install an ATM in Bhairahawa within a week. The Bank has been offering irs services through 37 branches, 36 ATm counters and 46 branchless banking service. </div>', 'published' => true, 'created' => '2014-01-27', 'modified' => '2014-01-27', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Everest Bank Limited (EBL) has installed its new ATM inside Pashupatinath Temple premises. The ATM was jointly inaugurated by Govind Tandon (Member Secretary-Pashupatinath Trust) and AK Ahluwalia (CEO-EBL). The inaugural function was also attended by dignitaries including officials of Pashupatinath Trust, Bank’s Employees and Brand Ambassador of EBL Sadichha Shrestha', 'sortorder' => '2366', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 7 => array( 'Article' => array( 'id' => '2476', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (20 - 26 January 2014)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Citizens’ Branchless Banking in Three New Locations</strong></span></div> <div> Citizens Bank International Limited has commenced its branchless banking service in Nagarkot, Tathali of Bhaktapur and Tarahara of Sunsari. Chief Operating Officer of the Bank Ganesh Raj Pokharel informed that the Bank will start the service in six more locations in near future. The bank has been offering services of cash deposits, cash withdrawal, fund transfer and payment of mobile phone bills and other banking services under branchless banking. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Mega Bank Declares 9% Cash Divided </strong></span></div> <div> Mega Bank Nepal Limited’s 3rd AGM was held in Kathmandu on 13th January 2014. The AGM has declared nine percent cash dividend to its shareholders. The declared cash dividend amounting to Rs 209.7 million has been decided to be distributed from the retained earnings up to the end of last fiscal year. The Chairman of the Bank Dr Madan Kumar Dahal said that it was an achievement for the Bank to distribute significant dividend amount to its shareholders. The CEO of the Bank Anil Keshary Shah expressed his belief that the Bank will continue to grow at a faster pace in future. Furthermore, he reiterated the trust and faith exhibited in the Bank through various achievements such as continuous profit from the very first year, overwhelming response shown by the general public towards the Bank’s IPO and a continuous increase in the Bank’s current share price. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Machhapuchhre Bank’s AGM Held</strong></span></div> <div> The 15th Annual General Meeting of Machhapuchhre Bank was held on 13th January. The AGM endorsed a proposal of allowing the Bank’s board to merge with any other bank and financial institution (BFIs) or to go for strategic partnership with a foreign bank. The Bank operates through 54 branches and an extension counter. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Ace Holds its 8th AGM</strong></span></div> <div> Ace Development Bank held its eighth Annual General Meeting on 13th January under the chairmanship of Executive Committee Chairman Yogendra Shakya. The AGM proposed the issuing of 3.70 percentage of its total paid-up capital as bonus share which amounts to Rs 29,521,300. The AGM also decided to continue with its directive to the Executive Committee to go for merger with appropriate bank and financial institutions. The Bank has been providing its services through 12 branches and one extension counter.</div> <div> </div> <div> <span style="font-size:14px;"><strong>City Express and Kanchan Development Bank Ink Agreement</strong></span></div> <div> City Express Money Transfer and Kanchan Development Bank Ltd have made an agreement to bring in remittance. With this agreement, the remittance sent through City Express can be received from all the branches of Kanchan Development Bank. The agreement was signed by Managing Director of City Express Chandra Tandon and CEO of Kanchan Development Bank Suresh Bahadur Bam. </div>', 'published' => true, 'created' => '2014-01-20', 'modified' => '2014-01-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Citizens Bank International Limited has commenced its branchless banking service in Nagarkot, Tathali of Bhaktapur and Tarahara of Sunsari. Chief Operating Officer of the Bank Ganesh Raj Pokharel informed that the Bank will start the service in six more locations in near future. The bank has been offering services of cash deposits, cash withdrawal, fund transfer and payment of mobile phone bills and other banking services under branchless banking.', 'sortorder' => '2322', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 8 => array( 'Article' => array( 'id' => '2426', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (6 - 12 January 2014)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Civil Bank’s ‘Mobile Mai Nagad’</strong></span></div> <div> Civil Bank Ltd has introduced a new product named ‘Mobile Mai Nagad’ on the occasion of New Year 2014. According to the Bank, this product has a complete range of financial services such as deposit, withdrawal from bank account to mobile account, account to account transfer, payment of shopping bills and utility bills through Hello Paisa Network. The Bank has also introduced Cardless ATM service from which cash can be withdrawn by using mobile phone from any Civil Bank ATM without using ATM Card. The Bank has claimed this feature to be available only in Civil Bank. The Bank has signed an agreement with Hello Paisa for this service. </div> <div> </div> <div> <span style="font-size:14px;"><strong>IME’s ‘Like, Post, Win’ Facebook Contest</strong></span></div> <div> International Money Express Pvt Ltd (IME) has launched a month-long facebook contest titled ‘Like, Post, Win’ from 1st January 2014. All existing customers of IME are eligible for the lucky draw but they will have to like IME’s official facebook page at www.facebook.com/imeremit and this will allow them to open the contest app where they can post their IME control number generated from their remittance transaction along with their personal details. Existing IME facebook page fans also can participate by posting the transaction ID in the facebook page. Gifts will be given to beneficiaries in Nepal in case of international transactions. Two lucky winners will get NTC or NCell recharge cards worth Rs 500 everyday whereas one lucky draw winner will get Colors Xfactor Bold II mobile set every week. At the end </div> <div> of this contest, the bumper lucky draw winner will get an iPad Air. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Nabil Honoured Shareholders on 29th AGM</strong></span></div> <div> Nabil Bank Limited held its 29th Annual General Meeting 27th December 2013 under the chairmanship of Krishna Bahadur Manandhar. The AGM approved the payment of 65 per cent dividend (40 per cent cash dividend and 25 per cent bonus shares), totalling Rs 65 per share as recommended by the Board of Directors of the Bank and approved by Nepal Rastra Bank. The AGM also felicitated two public shareholders Dr Madhav Kumar Shrestha and Ishwar Das Karmacharya for their contribution to the Bank. The shareholder duos were conferred with a shawl and appreciation letter.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Himalayan Bank Announces Cash Dividend and Bonus Share</strong></span></div> <div> Himalayan Bank Limited has decided to provide five percent bonus shares and 10 per cent cash dividend to its shareholders from the profit earned in the last fiscal year. The decision was made by a meeting of Board of Directors of the Bank held on 1st January 2014. According to the Bank, the decision is subject to approval of its upcoming 21st AGM and Nepal Rastra Bank. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Janata Bank’s Extension Counter in Pratappur</strong></span></div> <div> Janata Bank Nepal Limtedhas opened an Extension Counter at Pratappur VDC of Nawalparasi. The Bank has started its transactions from the counter from 1st January 2014. With this, the Bank now has 25 branch offices and two extension counters. </div>', 'published' => true, 'created' => '2014-01-07', 'modified' => '2014-01-07', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Civil Bank Ltd has introduced a new product named ‘Mobile Mai Nagad’ on the occasion of New Year 2014. According to the Bank, this product has a complete range of financial services such as deposit, withdrawal from bank account to mobile account, account to account transfer, payment of shopping bills and utility bills through Hello Paisa Network. The Bank has also introduced Cardless ATM service from which cash can be withdrawn by using mobile phone from any Civil Bank ATM without using ATM Card. The Bank has claimed this feature to be available only in Civil Bank. The Bank has signed an agreement with Hello Paisa for this service.', 'sortorder' => '2271', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 9 => array( 'Article' => array( 'id' => '2381', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief ( 30 December - 5 January 2014)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>National Insurance to Complete Four Decades in Nepal</strong></span></div> <div> National Insurance Company is completing four decades of its operations in Nepal on 1st January 2014. The company will be having a month long nationwide celebration in the month of January. The celebrations will start with cake cutting celebrations in head office in Kathmandu and also in all branch offices in Nepal. The company will be distributing blankets, torches and sports item to various institutions including deaf and dumb children as a part of its CSR activities. It will also conduct one day exclusive session for its women employees which will cover areas of health, stress and communication skills among others. On 5th January, the company is organizing a free health check up and blood donation camp. </div> <div> </div> <div> <span style="font-size:14px;"><strong>NIBL’s 27th AGM Held</strong></span></div> <div> Nepal Investment Bank Limited (NIBL)’s 27th Annual General Meeting was held on 26th December. The Net Profit of the Bank has grown by 84.3 per cent to reach Rs 1.91 billion against previous year’s figure of Rs 1.03 billion. The AGM has decided to distribute 25 per cent cash dividend and 10 per cent stock dividend to the existing shareholders. The Bank has increased its deposits by 9.5 per cent, reaching Rs 62.42 billion against last year’s Rs 57.01 billion. Similarly, total lending of the bank also grew by 11.2 per cent reaching Rs 47.70 billion.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Nabil Invest Relocates Offices</strong></span></div> <div> Nabil Investment Banking Ltd (Nabil Invest), a Subsidiary Company of Nabil Bank Ltd and a Securities Businessperson (Merchant Banker) has shifted its Chabahil and Anamnagar Offices to Central Plaza at Narayanchaur, Naxal. The new office will provide services like issue management, underwriting, registrar to shares, trusteeship services, depository participant in a central depository service (CDS), portfolio management services (PMS), fund management and depository of Nabil Mutual Fund and corporate advisory services. On this occasion, Nabil Invest is providing 50 per cent discount on the annual management fee on limited PMS products.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Mega Bank Supports Aama Ghar</strong></span></div> <div> Mega bank has provided Rs 700,000 to Aama Ghar, a philanthropic initiative undertaken by social worker Dil Shova Shrestha. On a programme held on 23rd December, CEO of Mega Bank Anil Keshary Shah handed over the cheque to Shrestha. Shah said that he felt delighted in supporting philanthropic initiatives like ‘Aama Ghar’. He also encouraged the private sector to take initiative in supporting the deprived and destitute people. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Sanima’s Conducts Blood Donation </strong></span></div> <div> Sanima Bank conducted a blood donation program at its head office in Naxal on the occasion of its 10th year of operation. Under its Corporate Social Responsibility (CSR), the Bank has conducted various activities to mark its 10 years of operation. In the current fiscal year, the Bank has approved Rs 6.3 million for CSR activities. The approved amount is 2.07 per cent of net profit of last fiscal year. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Siddhartha Bank’s Blood Donation Program</strong></span></div> <div> Siddhartha Bank’s Birgunj Branch organized a blood donation program on 25th December On the occasion of the Bank’s 11th Anniversary. 160 donors participated in the program organized at the branch premises.</div>', 'published' => true, 'created' => '2013-12-31', 'modified' => '2013-12-31', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'National Insurance Company is completing four decades of its operations in Nepal on 1st January 2014. The company will be having a month long nationwide celebration in the month of January. The celebrations will start with cake cutting celebrations in head office in Kathmandu and also in all branch offices in Nepal. The company will be distributing blankets, torches and sports item to various institutions including deaf and dumb children as a part of its CSR activities.', 'sortorder' => '2224', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 10 => array( 'Article' => array( 'id' => '2292', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (16 - 22 December 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><span style="font-size:14px;">NUBL and BHCT Sign MoU</span></strong></div> <div> Nirdhan Utthan Bank Limited (NUBL) has signed an MoU with UK-based INGO, The Blueberry Hill Charitable Trust (BHCT) to implement the project ‘Sustainable Access to Finance and Livelihoods in Nepal (SAFAL Nepal). The project is funded by UKaid through DFID. NUBL and BHCT will work together under a deficit-subsidy partnership model to expand financial services in remote areas of four districts- Panchthar, Doti, Dadeldhura, and Ilam. The project aims to improve the livelihoods of hill and mountain communities through sustainable access to finance linked with appropriate livelihood opportunities and local institutional strengthening. Under this partnership model, BHCT will support NUBL financially and technically for initial start-up and client capacity building; and NUBL will manage loan funds for the deficit-subsidy partnership model.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Citizens’ Branchless Banking in Jhapa</strong></span></div> <div> Citizens Bank International Limited has started its 42nd branchless banking service in Shivagunj of Jhapa. According to the bank, the service is started to offer modern banking facilities to the residents in remote parts of Nepal. The bank has plans of providing at least one branchless banking service in each zone, and has informed that that the number will reach 50 in near future. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Shah’s Tenure Extended</strong></span></div> <div> Mega Bank Nepal Limited has extended the tenure of its Chief Executive Office Anil Shah by another four years. The decision was made by a meeting of Board of Directors of the bank on Monday. With this decision, Shah will be the CEO of the bank till December 9, 2017. Shah is also the founding CEO of the bank. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Gandaki Starts Mobile Banking Service</strong></span></div> <div> Gandaki Bikas Bank Limited has started providing Mobile Banking Service to its customers. Now, the bank will be offering facilities of fund transfer through mobile, mobile recharge, phone bill payment, balance enquiry through SMS, mini statement, and new checkbook issuance among others. The bank also has been providing ATM and ABBS service. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Cosmos Share Applicantion Exceed Five Times than Demand</strong></span></div> <div> The applicants of primary shares in Cosmos Development Bank exceed five times than its demand. The bank has its main branch in Gorkha. “The bank had demanded the applications of public shares worth Rs 17.5 millions with the rate of Rs 100 per share but it has received the demands of more than Rs 110 millions,” Rajendra Pudasaini, Marketing Manager of the bank informed. He said that the applications are from Kathmandu, Chitwan, Butwal, Lalitpur, Parsa, Sarlahi, Narayangarh, Lamjung along with the districts. The bank had issued shares worth 40 per cent of the total capital from December 8th to 9th.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Tinau Bank provides 12 percent Bonus Share</strong></span></div> <div> Tinau Development Bank is to distribute 12 per cent of bonus share. This proposal was approved by Board of Directors during 7th Annual General Meeting of the bank. The AGM also has approved that the right share will be issued in the ratio of 0.25:1 of paid up capital as well as increase authorized capital and issued capital. “After the issuance of right share, the authorized capital of the bank will be Rs 300 million, issued capital R 250 million and paid-up capital will be Rs 16.1 mllion,” informed Pradip Kumar Shrestha, Chief Executive Officer of the bank. The AGM has also endorsed the audit report of fiscal year 2012/13, balance sheet till 2013 June and profit-loss and cash flow details. </div>', 'published' => true, 'created' => '2013-12-17', 'modified' => '2013-12-17', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Nirdhan Utthan Bank Limited (NUBL) has signed an MoU with UK-based INGO, The Blueberry Hill Charitable Trust (BHCT) to implement the project ‘Sustainable Access to Finance and Livelihoods in Nepal (SAFAL Nepal). The project is funded by UKaid through DFID. NUBL and BHCT will work together under a deficit-subsidy partnership model to expand financial services in remote areas of four districts- Panchthar, Doti, Dadeldhura, and Ilam.', 'sortorder' => '2134', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 11 => array( 'Article' => array( 'id' => '2251', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (9 - 15 December 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:16px;"><strong>Jyoti, Sewa in Remittance Pact</strong></span></div> <div> <img alt="" src="/userfiles/images/mm1.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 87px;" />Jyoti Development Bank Ltd and Sewa Remit Pvt Ltd have signed an agreement to provide remittance service. Bank’s Chief Executive Officer (CEO) Govinda Prashad Upadhyaya and Sewa Remit’s Managing Director Damodar Khanal signed the agreement last Tuesday. Following the agreement, remittance services of Sewa Remit’s would be available from all the branches of Jyoti Development Bank. Sewa Remit is providing the remittance services mainly from the gulf countries. </div> <div> </div> <div> <strong><span style="font-size:16px;">Best Remit Signs Pact with 11 BFIs</span></strong></div> <div> <img alt="" src="/userfiles/images/mm2.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 104px;" />In a bid to expand its services, Best Remit Nepal Pvt Ltd has signed remittance agreement with 11 various banking and financial institutions. The Company, which has been attracting remittance from various countries, has said that it signed agreement with various BFIs based in urban and rural areas. The company has recently signed the remittance Birendranagar based Kaakrebihar Development Bank, Gorkha based Manaslu Development Bank, Butwal-based Ekata Development Bank, Morang based Saptakoshi Development Bank, Nawalparasi based Rising Development Bank and Lalitpur based Sagarmatha Merchant Banking and Finance. Likewise, Best Remit has also signed the agreement with Guheswori Merchant Banking and Finance and Reliance Finance of Kathmandu, among other BFIs. </div> <div> </div> <div> <strong><span style="font-size:16px;">Reliance Finance in Fifth Year</span></strong></div> <div> <img alt="" src="/userfiles/images/mm3.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 77px;" />Reliance Finance Ltd has entered the fourth year of its operation from last Tuesday. On the occasion of fifth anniversary, the Bank distributed blankets and food to the children and elders of Conflict Victim and Disabled Society in Sankhu. The Company with Rs 200 million paid-up capital has collected Rs 20 million deposit in Fiscal Year 2012-13. During the occasion, the Company informed that its deposit has increased by 19.43 per cent during the review period. </div> <div> </div> <div> <strong><span style="font-size:16px;">Triveni to Distribute 20pc Dividend</span></strong></div> <div> <img alt="" src="/userfiles/images/mm4.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 55px;" />The 10th Annual General Meeting (AGM) of the Triveni Development Bank has approved the 20 per cent dividend distribution proposal. The AGM of the Bank held at Bharatpur last Friday has endorsed the 20 per cent dividend- 19 per cent bonus shares and 1 per cent cash. The Company has said that its paid-up capital will exceed Rs 370 million after distributing the approved bonus. The AGM has also unanimously elected Prof Dr Bhim Prashad Neupane, Lok Bahadur KC, Raj Kumar Shrestha, Bijay Subedi, Tanka Prashad Dhakal and Nir Prashad Lamichhane to represent the share holders in the Board of the Directors.</div> <div> </div> <div> <strong><span style="font-size:16px;">BOK Joins Hand with BHCT</span></strong></div> <div> <img alt="" src="/userfiles/images/mm5.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 75px;" />Bank of Kathmandu Limited has signed an agreement with The Blueberry Hill Charitable Trust (BHCT) for Samriddha Pahad Project and Sustainable Access to Finance and Livelihood Project (SAFAL Nepal). The agreement was made so as to explore opportunities in increasing access to finance for rural smallholder farmers, small and micro entrepreneurs (SMEs) and other relevant business entities in Nepal.</div>', 'published' => true, 'created' => '2013-12-09', 'modified' => '2013-12-09', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Jyoti Development Bank Ltd and Sewa Remit Pvt Ltd have signed an agreement to provide remittance service. Bank’s Chief Executive Officer (CEO) Govinda Prashad Upadhyaya and Sewa Remit’s Managing Director Damodar Khanal signed the agreement last Tuesday.', 'sortorder' => '2093', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 12 => array( 'Article' => array( 'id' => '2167', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (25 November - 1 December 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Citizens Post 100m Profit</strong></span></div> <div> Citizens Bank International Ltd has earned Rs 100 million net profit on the first quarter of current fiscal year. The Bank had made Rs 670 million net profit in the same period of the last fiscal year. According to the unaudited financial report of the first quarter of current fiscal year made public by the Bank, the Company has collected Rs 23.28 billion deposit and floated the loan amount Rs 19.23 billion during the period. According to the Bank, its paid-up capital has now reached Rs 2.10 billion.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Century Observes Net Profit Surge</strong></span></div> <div> The net profit of Century Bank Ltd has increased in the first quarter of the Fiscal Year 2013-14, according to the unaudited financial report of the Company. The Bank has said that its net profit has increased to 23.9 million in the first quarter of the current fiscal year from Rs 1.8 million in the same period of last fiscal year. According to the report, net interest income of the Bank has also increased in recent period. The Bank had earned Rs 58.6 million net interest income in first quarter of the last fiscal year, while the net interest income reached Rs 67.3 million in the first quarter of the current fiscal year. According to the Bank, it has the liquidity ratio of 27.92 per cent. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Manaslu’s Net Profit 1.5m</strong></span></div> <div> Manaslu Development Bank has posted a net profit of Rs 1.54 million in the first quarter of the current fiscal year. The Bank, headquartered at Gorkha, has collected Rs 577 million deposit, while floated Rs 486.1 loan during the same period. According to the unaudited quarterly financial report of the Bank, it has earned Rs 6.8 million interest income in the first quarter of current fiscal year. The Bank, which holds Rs 120 million paid-up capital, has allocated Rs 380,860 for loan loss provision. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Shangri-la Registers 15.4m Net Profit</strong></span></div> <div> Shangrila Development Bank has posted Rs 15.42 million net profit in the first quarter of the current fiscal year. According to the unaudited quarterly financial report of the Company, it has collected a total of Rs 3.28 billion deposit and extended Rs 2.81 billion loan in the same period. The Bank has extended Rs 109 million rupees in the real state sector alone during the first quarter of the Fiscal Year 2013-14. The Bank, headquartered at Pokhara, has Rs 19.28 of per share income. </div> <div> </div> <div> <span style="font-size:14px;"><strong>ADBL’s Net Interest Income Plummets</strong></span></div> <div> The net interest income of Agriculture Development Bank Ltd has declined in the first quarter of current fiscal year in comparison to the same period of previous fiscal year. According to the quarterly financial report of the Bank, its net interest income has plummeted to Rs 1.58 billion in the first quarter of the current fiscal year from Rs 4.72 billion in the same period of last fiscal year. Though the Bank observed a drop in the net interest income, there was nominal increment in the total deposit collected and the loan floated by the bank during the first quarter as compared to the same period of the last fiscal year. According to the financial report, the Bank has collected Rs 60.68 billion deposit and floated Rs 50.72 billion in the first quarter of current fiscal year, while the Bank had collected Rs 54.43 billion deposit and extended a total of Rs 49.72 billion loan in the same period of last fiscal year. </div>', 'published' => true, 'created' => '2013-11-26', 'modified' => '2013-11-26', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Citizens Bank International Ltd has earned Rs 100 million net profit on the first quarter of current fiscal year. The Bank had made Rs 670 million net profit in the same period of the last fiscal year.', 'sortorder' => '2012', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 13 => array( 'Article' => array( 'id' => '2048', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (28 October - 3 November 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Sunrise’s Branch at Lagankhel</strong></span></div> <div> Sunrise Bank Ltd has established its new branch at Lagankhel in Lalitpur. Bank’s Chief Executive Officer (CEO) Surendraman Pradhan inaugurated the newly opened branch last Thursday. The Bank has shifted its branch from Harisiddhi to Lagankhel. According to the Bank, all the banking transactions of the Harisiddhi branch will be held now onwards through newly opened Lagankhel branch. It has also informed that the branch will provide micro and middle enterprise loan, hire purchase and safe locker, among other services. The company has told that it is serving around 222 thousands customers. It has 50 branches and 59 ATM counters across the country.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Ailing Journo Gets Mega’s Aid</strong></span></div> <div> Mega Bank Ltd has provided the financial assistance of Rs 25 thousand to the ailing journalist BK Palpali. Palpali is undergoing treatment in India after his both kidneys were failed. Mega Bank’s Chief Executive Officer (CEO) Anil Keshary Shah handed over the cheque of financial assistance to vice president of Federation of Nepali Journalists, Yashoda Timsina, and ‘Save BK Palpali Campaign’ coordinator Radheshyam Lekali amid a programme last Thursday. Shah said that his company decided to provide support to Palpali so that financial assistance could be collected from the corporate sector. He also requested other companies to support Palpali on his treatment.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Century’s Gold-silver Loan</strong></span></div> <div> Century Commercial Bank Ltd has started the gold and silver loan service from its Belbari branch from last Thursday. Prior to this, the Bank was providing such service from its Newroad, Putalisadak, Dharan, Manbhawan, Pokhara and Boudha branches. Likewise, the Bank has also started the ‘Platinum Saving Account’, on which it will provide 8.25 per cent interest on the daily saving. According to the press release of the company, this account could be opened with minimum deposit amount of Rs 500,000. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Jyoti Brings Two Loan Schemes</strong></span></div> <div> Jyoti Development Bank has brought Jyoti micro and middle loan and Jyoti Agricultural Loan. The Bank has said that it will extend the loan at a cheaper interest rate to its customers through these loan schemes. According to these schemes, the Bank will provide the loan for starting micro and middle level enterprises and businesses. The loan amount will be from Rs 300,000 to 5 million. Likewise, it will provide the loan amount of Rs 100,000 to 2.5 million under agricultural loan. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Muktinath’s Operating Profit Rs 39m</strong></span></div> <div> Muktinath Development Bank Ltd has posted the profit of Rs 39 million until the mid October. The Bank has collected the total deposit amount Rs 3.90 billion, while extended the loan Rs 3.35 billion during the review period. According to the Bank’s Chief Executive Officer (CEO) Bharat Dhakal, it has started gold loan and locker services from its head office Pokhara and Syangja branch. He also informed that the Banks is going to start the mobile banking service very soon. It has made 10 districts as its working areas.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Excel’s 50pc Bonus Share Approved </strong></span></div> <div> Nepal Rastra Bank (NRB) has approved the bonus share distribution proposal of Excel Development Bank. The company has proposed for the distribution of 50 per cent bonus share and 2.63 per cent cash dividend on Fiscal Year 2012/13. The Bank has said that it will distribute the dividend following the endorsement of the proposal from its upcoming Annual General Meeting.</div>', 'published' => true, 'created' => '2013-10-28', 'modified' => '2013-10-29', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Sunrise Bank Ltd has established its new branch at Lagankhel in Lalitpur. Bank’s Chief Executive Officer (CEO) Surendraman Pradhan inaugurated the newly opened branch last Thursday. The Bank has shifted its branch from Harisiddhi to Lagankhel.', 'sortorder' => '1899', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 14 => array( 'Article' => array( 'id' => '1990', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (21 -27 October 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>NMB’s ATM at Babarmahal</strong></span></div> <div> NMB Bank has started its new ATM service at the premise of Kathmandu District Court (KDC) in Babarmahal. KDC Judge Achyut Bista inaugurated the newly established counter on October 10. This counter is expected to help on banking services for the beneficiaries of the court. With this counter, the total number of the ATM counters of NMB has reached 27. Likewise, The Bank has 26 branches and one extension counter across the country.</div> <div> </div> <div> <strong><span style="font-size:14px;">Standard Chartered Marks World Sight Day</span></strong></div> <div> Standard Chartered Bank Nepal organised a talk program on ‘Eye Banking and Eye Donation’ at its Head Office in Naya Baneshwore on October 10 to mark the World Sight Day 2013. The Bank also organised a dry eye check up camp at its premises in Biratnagar Branch. According to the press release of the Bank, it had extended a financial assistance of $1 million for the construction of Biratnagar Eye Hospital in Biratnagar with a view to reinforce the ‘Seeing is Believing’ agenda in Nepal. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Citizen’s 15pc Dividend Approved</strong></span></div> <div> Citizen Bank International Ltd has approved the proposal to distribute 15 per cent dividend. The Seventh Annual General Meeting (AGM) of the Bank held on October 8 made the decision to this effect. The Bank has made the net profit worth Rs 413.2 million in the Fiscal Year 2011-12. Likewise, the Bank has collected the total deposit worth Rs 22.74 billion rupees and extended the loan amount Rs 17.95 billion in the review period. Bank’s Chairman Pradeep Jung Pandey has presented the financial report in the AGM. According to Pandey, the Bank has planned to open its branch offices in Jumla, Jajarkot and Siddharthanagar within 3 months. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Everest Establishes Information Board at Pashupati</strong></span></div> <div> Digital Information Board has been established in the western gate of the Pashupatinath Temple with the support of Everest Bank Ltd. The Board aims to inform the devotees at the Temple about the prayer schedule, special programs to be held and donations received by the Pashupati Area Development Trust (PADT). According to the joint press release issued by the Everest Bank and PADT, the institutions have pledged to conduct other development works in the collaboration in the near future. </div> <div> </div> <div> <span style="font-size:14px;"><strong>NMB Announces 15pc Dividend</strong></span></div> <div> NMB Bank has announced 15 per cent dividend to its share holders. The meeting of the Board of Directors (BOD) held at the first week of the October made such decision. The dividend distribution will come into effect after getting the approval from the Nepal Rastra Bank and the upcoming Annuan General Meeting of the company, states the press release of the NMB.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Kumari’s Banking Literacy Campaign</strong></span></div> <div> Kumari Bak Ltd has organised a banking literacy programme. The programme was organised on the first week of October at Balaju Engineering College in the coordination of Swati Sadan Campus. The Bank’s Relationship Manager Bishwas Raj Aryal has informed the students about the importance of saving and the banking system. Over 200 students have participated in the campaign.</div>', 'published' => true, 'created' => '2013-10-21', 'modified' => '2013-10-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'NMB Bank has started its new ATM service at the premise of Kathmandu District Court (KDC) in Babarmahal. KDC Judge Achyut Bista inaugurated the newly established counter on October 10. This counter is expected to help on banking services for the beneficiaries of the court. With this counter, the total number of the ATM counters of NMB has reached 27. Likewise, The Bank has 26 branches and one extension counter across the country.', 'sortorder' => '1840', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
