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Bhushan Shamsher JB Rana, CEO of the Bank, and NCM Merchant Banking Ltd Managing Director Bijay Lal Shrestha, have signed an agreement on this regard. Yeti Development Bank has begun operation after a merger between Manakamana Development Bank Ltd, Valley Finance Ltd and Yeti Finance Ltd.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Prabhu’s Service Center in Nuwakot</strong></span></div> <div> Prabhu Money Transfer Company has started its service center in Nuwakot. Prabhu has made the Bidur-based Panchakanya Multipurpose Cooperative its service center. Panchakanya Cooperative has been long working as an agent of Prabhu Money Transfer. Director of Prabhu Management inaugurated the newly established service center last Monday. Though the company has seven service centers in Kathmandu, it established its first service center in Nuwakot outside the Kathmandu Valley. The company has said that the establishment of the service center was a part of its campaign to extend remittance services in remote parts of the country.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Sansar Remit to Bring Remittance from Japan</strong></span></div> <div> Sansar Remit Pvt Ltd is preparing to bring remittance funds from Japan. According to the company’s Chairperson Pradip Shrestha, it will begin service after the Dashain festival with some new schemes. It is currently providing remittance services from Portugal, Spain and Italy. After Japan, the company will also start its service from America, Australia and other countries.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Dr Bhattarai appointed Janata Bank’s CEO</strong></span></div> <div> Dr Ramesh Kumar Bhattarai has been appointed as the Chief Executive Officer (CEO) of the Janata Bank Nepal Ltd. The meeting of the Board of Directors of the Janata Bank held on September 24 decided to appoint Dr Bhattarai as the CEO of the Bank. According to the press release of the Janata Bank, Dr Bhattarai will assume the post of the CEO from October 9. Dr Bhattarai, a retired administrator of the Employees Provident Fund, has an experience of more than 10 years on working with various commercial banks and public enterprises. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Jyoti and City Express in Agreement</strong></span></div> <div> Jyoti Development Bank Ltd and City Express Money Transfer have struck an agreement on remittance services. The bank’s CEO Govinda Prashad Upadhyaya and the Managing Director of City Express Money Transfer, Chandra Tandon, signed the agreement last Tuesday. Remittance services from this agreement will be available from all branch offices of the Jyoti Development Bank.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Nabil’s Online Account Opening Facility</strong></span></div> <div> Nabil Bank has initiated a service to open bank accounts through the online system. The bank has said that the facility was initiated to save the time of its customers and increase banking access among people. “We have begun this service as per our commitment to provide automated banking services,” Chief Executive Officer of the Bank, Anil Gyawali, said. The bank has claimed that this service is the first of its kind in Nepal. According to the bank, people can open their account by submitting a request online through the bank´s website: www.nabilbank.com.</div>', 'published' => true, 'created' => '2013-10-07', 'modified' => '2013-10-08', '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' => 'NCM Merchant Banking has been appointed as the share registrar of Yeti Development Bank Ltd. Bhushan Shamsher JB Rana, CEO of the Bank, and NCM Merchant Banking Ltd Managing Director Bijay Lal Shrestha, have signed an agreement on this regard. Yeti Development Bank has begun operation after a merger between Manakamana Development Bank Ltd, Valley Finance Ltd and Yeti Finance Ltd.', 'sortorder' => '1788', '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) 1 => array( 'Article' => array( 'id' => '1901', 'article_category_id' => '108', 'title' => 'Money Matter News In Brief (30 September - 3 October 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Vibor, Reliable Remit Ink Agreement</strong></span></div> <div> Reliable Remit Service, operated by Reliable Remit Ltd, has inked a deal recently with Vibor Bank following which customers can now send and receive their money from six branches of the Vibor bank and 1600 agents of Reliable Remit. CEO of Reliance Finance, Narayan Bahadur Lohani and CEO of Vibor Bank, Narayan Bahadur Lohani signed an agreement of partnership last week.</div> <div> </div> <div> <span style="font-size:14px;"><strong>21pc Dividend of Kamana </strong></span></div> <div> Kamana Development Bank has said it will distribute a total of 21 percent dividend on the net profit of Fiscal Year 2012-13. According to the press release of the bank, the meeting of Board of Directors (BoD) held last Monday (September 23) decided to distribute 15 per cent bonus and 6 per cent cash dividend. Umesh Kumar Acharya, CEO of the Bank, informed that the dividend will be distributed following the approval of Nepal Rastra Bank and endorsement from the Annual General Meeting of the company. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Siddhartha Brings Visa Prepaid Travel Card</strong></span></div> <div> Siddhartha Bank will distribute free Visa Prepaid Travel Card to its customers as part of its ‘Utsav Scheme’. The Bank has informed that the customers can get such cards from any of its branches upon filling up a form by November 30. The press release of the bank on the launch of a new service of Card states that the customers can make transactions through Visa ATM and POS machine from anywhere in the world.</div> <div> </div> <div> <span style="font-size:14px;"><strong>City, NCC Sign Agreement</strong></span></div> <div> City Express Money Transfer and NCC Bank Ltd have signed an agreement on providing the remittance service. Under the agreement, money remitted from abroad can be collected from any branch of the NCC Bank. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Grand’s ‘Special Saving Account’</strong></span></div> <div> Grand Bank Nepal Ltd has started ‘Grand Special Saving Account’ on the occasion of Dashain and Tihar festivals. The minimum balance for the account would be of Rs 100,000. The Bank has said that it will provide 7 per cent per annum interest rate on daily balance. According to the press release of the bank, it will provide 50 per cent discount on charge for getting a Draft and Balance Certificate. </div> <div> </div> <div> <span style="font-size:14px;"><strong>United Hands Over Insurance Claim Payment</strong></span></div> <div> United Insurance Company Ltd has made the highest payment of insurance so far. The Company has handed a payment worth Rs 589 million to the insured party representative Narottam Kumar Mehta from the Chaudhary Group amid a programme held in the capital last Tuesday. According to the CEO of the insurance company, Bir Bikram Raymajhi, the payment was made as a compensation of the loss that the insured company incurred due to fire accidents in the company’s Satungal based CG Impex Pvt Ltd, EOL Pvtd Ltd and CG electronics Pvt Ltd last year. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Vibor Capital Appointed as Mission Dev’s Registrar </strong></span></div> <div> Mission Development Bank has appointed the Vibor Capital Ltd as its share registrar. Bank’s CEO Hari Prashad Ghimire and Vibor Capital’s CEO Shankar Kalikote has signed on the appointment letter to this effect. The Company’s shares were listed in the Nepal Stock Exchange recently.</div>', 'published' => true, 'created' => '2013-09-30', 'modified' => '2013-10-01', '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' => 'Reliable Remit Service, operated by Reliable Remit Ltd, has inked a deal recently with Vibor Bank following which customers can now send and receive their money from six branches of the Vibor bank and 1600 agents of Reliable Remit. CEO of Reliance Finance, Narayan Bahadur Lohani and CEO of Vibor Bank, Narayan Bahadur Lohani signed an agreement of partnership last week.', 'sortorder' => '1762', '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' => '1835', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (26 - 22 September 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>NRB Refutes Deadline Extension Reports</strong></span></div> <div> Nepal Rastra Bank (NRB) has clarified that it has not extended the deadline to meet the minimum required capital (paid-up capital) for banking and financial institutions (BFIs). NRB has ruled out extension of the deadline following a news report claiming that it had extended the deadline to meet the minimum required capital. “We have provisioned that the proposed bonus share distribution on Fiscal Year 2013-14 if approved by the NRB could be counted on the paid-up capital,” NRB spokesperson Bhaskarmani Gyawali said. Through the monetary policy, the NRB had directed those bank and financial institutions, who are yet to meet the minimum paid-up capital, to do so by the end of FY 2013-14. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Tinau’s Dividend Approved</strong></span></div> <div> Tinau Development Bank Ltd, headquartered at Butwal, got an approval from Nepal Rastra Bank to distribute a 12.69 per cent dividend including 12 per cent as bonus shares. The bank has collected Rs 1.53 billion deposit and extended a total of Rs 1.12 billion as loan during the last Fiscal Year. It has earned a Rs 23.3 million as profit and has issued capital of Rs 200 million and paid up capital of 115 million with eight branches in operation.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Everest Announces Book Closure Date</strong></span></div> <div> Everest Bank has announced the book closure for share trading from September 18 to October 10 for the upcoming Annual General Meeting (AGM). Releasing a communiqué last Wednesday, the bank stated that the 237th meeting of the Board of Directors (BoD) held on September 6 made such a decision. The details of the upcoming AGM will be made public laterby publishing a separate notice, the communiqué added.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Siddhartha Development’s ‘SDBL Auto Loan’</strong></span></div> <div> Siddhartha Development Bank Ltd has announced ‘SDBL Auto Loan’ scheme for the coming Dashain festival. According to the scheme, the loans will be on 11.99 per cent per annum interest rate to purchase new and reconditioned vehicles with 60 per cent discount on service charge. The other features of the scheme include loans up to 80 per cent of the vehicle cost, seven years of moratorium period and a fixed interest rate for a year.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Garima’s 25pc Dividend</strong></span></div> <div> Garima Development Bank Ltd will propose a 25 per cent dividend distribution at its Annual General Meeting (AGM). According to the bank, it is going to propose 20 per cent bonus shares and 5 per cent cash dividend. The bank has collected a total amount of Rs 3 billion deposit and floated Rs 2.43 billion as a loan until the end of Fiscal Year 2012-13. Chief Executive Officer Govinda Prashad Dhakal informed that the bank earned an operating profit of Rs 96.1 million in the FY2012-13. He further said that the bank is planning to issue rights shares next month. The bank says that its paid-up capital will reach 374 million after issuing rights share and distributing the dividends.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Kaski Finance’s 13pc Cash Dividend</strong></span></div> <div> Pokhara based Kaski Finance Ltd will distribute 13 per cent cash dividend to its shareholders. The dividend will be distributed after approval from the Annual General Meeting of the Company, said Chief Executive Officer (CEO) Toya Raj Adhikari.</div>', 'published' => true, 'created' => '2013-09-17', 'modified' => '0000-00-00', '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' => 'Nepal Rastra Bank (NRB) has clarified that it has not extended the deadline to meet the minimum required capital (paid-up capital) for banking and financial institutions (BFIs).', 'sortorder' => '1696', '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' => '1803', 'article_category_id' => '108', 'title' => 'Brief Money Matters', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><span style="font-size:14px;">NRB refutes deadline extension reports</span></strong></div> <div> Nepal Rastra Bank (NRB) clarified that it has not extended the deadline to meet the minimum required capital (paid-up capital) for banking and financial institutions (BFIs). NRB has ruled out extension of the deadline after there was news reporting that it had extended the deadline to meet the minimum required capital. “We have provisioned that the proposed bonus share distribution on Fiscal Year 2013-14 if approved by the NRB could be counted on the paid-up capital,” NRB spokesperson Bhaskarmani Gyawali said. Through the monetary policy, the NRB had directed those bank and financial institutions, who are yet to meet the minimum paid-up capital, to do so by the end of FY 2013-14. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Tinau’s dividend approved</strong></span></div> <div> Tinau Development Bank Ltd, headquartered at Butwal, got an approval from Nepal Rastra Bank to distribute a 12.69 per cent dividend. The bank is going to distribute the bonus from the profit of Fiscal Year 2012-13. The bank has collected Rs 1.53 billion deposit and extended a total of Rs 1.12 billion during the review period. It has earned a Rs 23.3 million profit and has issued capital of Rs 200 million and paid up capital of 115 million with eight branches in operation.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Everest Announces Book Closure Date</strong></span></div> <div> Everest Bank announced the book closure for share trading from September 18 to October 10 for the upcoming Annual General Meeting (AGM) of the bank. Releasing a communiqué last Wednesday, the bank stated that the 237th meeting of the Board of Directors (BoD) held on September 6 made such a decision. The details of AGM of 2012/13 will be made public by publishing the notice, the communiqué added.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Siddhartha Development’s ‘SDBL Auto Loan’</strong></span></div> <div> Siddhartha Development Bank Ltd started the ‘SDBL Auto Loan’ scheme on the occasion of Dashain. According to the scheme, it will extend loans on 11.99 per cent per annum interest rate to purchase new and reconditioned vehicles with 60 per cent discount on service charge. Likewise, other features of the scheme include loans of up to 80 per cent of the vehicle cost, seven years of moratorium period and unchangeable interest rate for a year, among others.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Garima’s 25 pc dividend</strong></span></div> <div> Garima Development Bank Ltd has said that it will propose a 25 per cent dividend distribution at its Annual General Meeting (AGM). According to the bank, it is going to propose 20 per cent bonus shares and 5 per cent cash dividend. The bank has collected a total amount of Rs 3 billion deposit and floated Rs 2.43 billion as a loan until the end of Fiscal Year 2012-13. Chief Executive Officer Govinda Prashad Dhakal informed that the bank earned an operating profit worth Rs 96.1 million in the FY2012-13. He further said that the bank is planning to issue rights shares next month. The bank has claimed that its issued and paid-up capital will reach 374 million after issuing rights share and distributing the dividends.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Kaski Finance to distribute 13 pc cash dividend</strong></span></div> <div> Pokhara based Kaski Finance has said that it will distribute 13 per cent cash dividend to its shareholders. The dividend will be distributed after the approval from the Annual General Assembly of the Finance and the decision of the 98th meeting of the Board of Directors. Chief Executive Officer (CEO) Toya Raj Adhikari said that the cash dividend is being distributed from the Finance’s profit of the Fiscal Year 2012-13.</div>', 'published' => true, 'created' => '2013-09-14', 'modified' => '0000-00-00', 'keywords' => 'Money Matters', 'description' => 'Nepal Rastra Bank (NRB) clarified that it has not extended the deadline to meet the minimum required capital (paid-up capital) for banking and financial institutions (BFIs).', 'sortorder' => '1664', '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' => '1796', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (9 -15 September 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><span style="font-size:14px;">Everest Bank’s Mobile ATM Facility</span></strong></div> <div> Everest Bank Limited began a mobile ATM facility. As per this facility, customers do not need to go to branch to get the banking services of the Everest Bank. The customers can get the payment from the designated bank representative. The Bank said that they have their designated representatives across the country. According to the press release of the bank, customers can also open their bank account from the designated representative. Everest Bank has introduced the concept of branchless banking service for the first time in Nepal.</div> <div> </div> <div> <strong><span style="font-size:14px;">Siddhartha Dev Bank’s ‘Home Loan Scheme’</span></strong></div> <div> Siddhartha Development Bank brought a ‘SDBL Home Loan’ scheme. The Bank said it has brought the scheme to fulfill the dream of every citizen to have their own home. The Bank informed that it will extend the maximum loan up to Rs 10 million to purchase home and apartment as well as to build the home. </div> <div> </div> <div> <strong><span style="font-size:14px;">Kailash Proposes 19 per cent Dividend </span></strong></div> <div> Kailash Development Bank Ltd said it will distribute 19 per cent dividend from the profit earned in the Fiscal Year 2012-13. The meeting of the Board of Directors (BOD) held last Wednesday decided to recommend distribution of 10 per cent bonus share and 9 per cent cash dividend. The Bank has collected Rs 6.26 billion deposit and extended a total of Rs 5.5 billion as loans in the Fiscal Year 2012-13. It informed that it has earned Rs 152.6 million net profit in the review period. </div> <div> </div> <div> <strong><span style="font-size:14px;">Discount on Infrastructure’s Locker </span></strong></div> <div> Infrastructure Development Bank Ltd said it will provide the free locker facility for a year to the customer opening bank account on ‘Naari Samriddi Khaata’. The Bank said it is providing this facility on the auspicious occasion of Hindu women’s festival Teej. The Bank, which merged with Swastik Merchant Finance Co Ltd last year, is providing banking services to its customers through 18 branches. </div> <div> </div> <div> <strong><span style="font-size:14px;">Laxmi Bank’s branch at Kohalpur</span></strong></div> <div> Laxmi Bank Ltd opened its branch at Kohalpur in Nepalgunj. The branch started its operation from last Monday. The number of the Bank’s branches has reached 33 with this newly opened branch. The Branch’s Manager Rima Malla informed that the branch will offer ATM, internet banking, mobile and other services. </div> <div> </div> <div> <strong><span style="font-size:14px;">Bhrikuti Development Enters 10th Year</span></strong></div> <div> Bhrikuti Development Bank Ltd headquartered in Butwal entered 10th year last Tuesday. The Bank had started its operation on September 3, 2004. The Bank’s paid up capital that started with Rs 10.5 million has now reached Rs 353.1. The Bank has expanded its services to 10 districts. The Bank said that the deposit amount of the bank has reached a total of Rs 4.30 billion and extended a total of Rs 3.21 billion as loans until the end of the Fiscal Year 2012-13. The bank has earned Rs 110 million profit. </div> <div> </div> <div> <strong><span style="font-size:14px;">Om Finance to Distribute 21 pc Dividend</span></strong></div> <div> Om Finance Ltd headquartered at Pokhara said it is planning to distribute 20 per cent bonus share and 1 per cent cash dividend. The Finance’s Annual General Meeting will decide to distribute a total of 21 per cent dividend after getting the approval from the Nepal Rastra Bank, according to the press statement released by the General Manager of Om Finance last Monday. Malla informed that the paid up capital of the Finance will be of worth Rs 325.7 million after distributing the dividend. </div>', 'published' => true, 'created' => '2013-09-09', 'modified' => '0000-00-00', '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 began a mobile ATM facility. As per this facility, customers do not need to go to branch to get the banking services of the Everest Bank.', 'sortorder' => '1657', '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' => '1748', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (2 - 8 September 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><span style="font-size:14px;">Everest Bank’s ‘Adopt a School’ Campaign</span></strong></div> <div> Everest Bank began its ‘Adopt a School Campaign’ by handing over school materials to the Janakpur-based Jagrup Shah, Rampukar Shah Higher Secondary School.The Bank’s Chief Executive Officer AK Ahluwalia handed over computers and other school materials to the Principal of the school amid a function last Tuesday.The Bank has said it will dedicate itself in improving the living standards of children through educational support. </div> <div> </div> <div> <strong><span style="font-size:14px;">Shangrila Bank Seven-years-old Now</span></strong></div> <div> Shangrila Development Bank Ltd headquartered at Pokhara turned seven on August 25. The bank organised a blood donation programme at its central office in Newroad, Pokhara to mark the seven years of its establishment. Officiating Chief Executive Officer Dinesh Thakali informed that 55 persons donated their blood during the programme held with the technical support of Nepal Red Cross Society, Pokhara. Thakali also said the bank has a deposit amount of Rs 3.12 billion and has extended a total of Rs 2.71 billion as loans until the end of the Fiscal Year 2012-13, earning Rs 133.6 million operating profit in the review period. </div> <div> </div> <div> <strong><span style="font-size:14px;">15 thousand Benefitted from BoK ‘Youth Save’</span></strong></div> <div> 15 thousand youths benefitted from ‘Youth Save’, a financial education programme jointly run by Bank of Kathmandu Ltd and Save The Children. The programme was launched with an aim to provide banking transactions and saving knowledge to youths. </div> <div> </div> <div> <strong><span style="font-size:14px;">Agricultural loan of Siddhartha Development</span></strong></div> <div> Siddhartha Development Bank Ltd started the SDBL agricultural loan last week. The bank has started this loan as it believes that development of agriculture can develop the country. The bank will float loans to farmers in animal farming, fishery, bee keeping, vegetable and fruit farming, agriculture based handicrafts businesses and purchasing of farming equipment, among others. </div> <div> </div> <div> <strong><span style="font-size:14px;">Global IME’s Branchless Banking Service</span></strong></div> <div> Global IME Bank Ltd extended its branchless service to Sukhipur and Kalyanpur VDCs of Siraha district. Deputy CEO Janak Sharma Poudyal inaugurated the service of the bank last Thursday. Certain banking services are provided through the designated agents in the branchless banking service. </div>', 'published' => true, 'created' => '2013-09-03', 'modified' => '0000-00-00', '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 began its ‘Adopt a School Campaign’ by handing over school materials to the Janakpur-based Jagrup Shah, Rampukar Shah Higher Secondary School.', 'sortorder' => '1609', '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' => '1663', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><span style="font-size:14px;">NRB Asked Capital Increment Plan</span></strong></div> <div> Nepal Rastra bank (NRB) has asked Banks and Financial Institutions (BFIs) to submit their plan to increase the paid-up capital as prescribed by NRB. The BFIs who have not increased their capital till mid-July 2013 to the minimum amount as prescribed, have to place the plan to NRB till Mid-Oct 2013. NRB issued such circular to all BFIs on August 11 (Sunday). As per this directive, commercial banks have to have a paid-up capital of Rs 2 billion and the national level development banks have to make it Rs 640 million. Similarly, the finance companies have to have a minimum of of Rs 200 million. </div> <div> </div> <div> </div> <div> <strong><span style="font-size:14px;">SEBON Inspects 30 Brokerage Companies</span></strong></div> <div> Securities Board of Nepal (SEBON) has inspected 30 brokerage companies after the complaint were filed against them. SEBON has inspected the detailed information regarding the buyers and sellers. Similarly, the on-site inspection also investigated matters related to anti-money laundering. The inspection has found that the brokers have been providing privilege to the larger investor than the smaller investors. Thus, they have been warned, not to repeat this behavior in future.</div> <div> </div> <div> </div> <div> <strong><span style="font-size:14px;">NBL Right Share Allotment </span></strong></div> <div> <img alt="Nepal Bank Limited (NBL)" src="/userfiles/images/nbl.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 81px;" />Nepal Bank Limited (NBL) has allotted 3,360,606 right shares to the shareholders. Out of this, 13,972,866 shares have been allotted to Government of Nepal and remaining 19,387,740 shares to the general public. This allotment is 92.17 percent of the right shares issued. The remaining unsubscribed right shares are to be auctioned.</div> <div> </div> <div> </div> <div> </div> <div> <strong><span style="font-size:14px;">EIC Resumes Operation</span></strong></div> <div> <img alt="Everest Insurance Company (EIC)" src="/userfiles/images/eic(1).jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 49px;" />Everest Insurance Company (EIC) resumed its operation from Sunday August 11 after an understanding between management team and agitation employees. Earlier, the Insurance Board had refused to renew the company’s licence as it had found embezzlement on payment of claim worth Rs 40 million to Himalayan Snax made by company.</div> <div> </div> <div> </div> <div> <strong><span style="font-size:14px;">Merger between Best and Samsara</span></strong></div> <div> The merger between Best Remit UK and Samsara Remit UK took place on Wednesday, 14 August. After the merger the new remittance company will operate in the name of ‘Best Samsara Remit’. </div> <div> Presidents of Best Holding Bhimkrishna Udas and Samsara Nepal UK Rajaram Giri signed the agreement for the merger. </div> <div> </div> <div> </div> <div> <strong><span style="font-size:14px;">Mega Distributes Certificate</span></strong></div> <div> <img alt="Mega Bank Nepal Ltd" src="/userfiles/images/mega.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 49px;" />Mega Bank Nepal Ltd had started distributing share certificates to the allotted shareholders from August 12. </div> <div> </div> <div> </div> <div> <strong><span style="font-size:14px;">Mega goes Branchless at Aargakachi</span></strong></div> <div> Mega Bank has started branchless banking services at two locations of Aargakachi. The two places are Hansapur and Khiliji of Aargakachi. </div> <div> </div> <div> </div> <div> <strong><span style="font-size:14px;">NIBL at Bharahathawa</span></strong></div> <div> <img alt="Nepal Investment Bank Ltd (NIBL) " src="/userfiles/images/nibl(1).jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 27px;" />Nepal Investment Bank Ltd (NIBL) has opened its 44th branch at Bharahathawa, Sarlahi. The branch was inaugurated by bank’s CEO Jyoti Prakash Pandey on August 15 (Thursday).</div> <div> </div> <div> </div> <div> <strong><span style="font-size:14px;">RMDC IPO Allotment</span></strong></div> <div> <img alt="" src="/userfiles/images/rmdc.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 50px; height: 50px;" />Rural Microfinance Development Center (RMDC) Ltd has allotted its IPO on Thursday August 15. Though RMDC had issued 1,560,000 unit of shares, it had got applications for a total of 17,429,240 units. </div> <div> </div> <div> </div> <div> </div> <div> <strong><span style="font-size:14px;">GBIME at Hetuada</span></strong></div> <div> <img alt="Global IME Bank" src="/userfiles/images/gbime.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 21px;" />Global IME Bank has opened its 71st branch at Hetuada. The branch was inagurated by NPBC President Kush Kumar Joshi on Friday, August 16.</div> <div> </div>', 'published' => true, 'created' => '2013-08-19', 'modified' => '2013-08-20', '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' => 'Nepal Bank Limited (NBL) has allotted 3,360,606 right shares to the shareholders.', 'sortorder' => '1524', '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' => '1630', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (12 - 18 August 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><span style="font-size:14px;">S<img alt="Sanima Bank Ltd" src="/userfiles/images/SANIMA.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 13px;" />anima at Ghorai & Dhangadhi </span></strong></div> <div> Sanima Bank Ltd (Sanima) has opened its 26th & 27th branch at Ghorahi (Dang) and Dhangadhi. The Ghorahi branch was jointly inaugurated by Mahesh Ghimire, Director, Sanima Bank, and Hari Bansha Acharya, renowned artist and social activist of Nepal. Similarly, the Dhangadi branch was jointly inaugurated by Bharat Kumar Pokharel, Director, Sanima Bank, and Hari Bansha Acharya. </div> <div> </div> <div> <strong><span style="font-size:14px;"><img alt="Shine Resunga Development (SRD) Bank " src="/userfiles/images/SRD.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 19px;" />SRD New Share Certificate Distribution </span></strong></div> <div> Shine Resunga Development (SRD) Bank Limited is distributing new share certificates to the shareholders of Shine Development Bank Limited and Resunga Bikas Bank Limited which merged to form SRD from August 2. </div> <div> </div> <div> <strong><span style="font-size:14px;"><img alt="Sunrise Bank" src="/userfiles/images/SUNRISE.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 24px;" /><img alt="CDSC" src="/userfiles/images/CDSC.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 32px; height: 24px;" />Sunrise Bank’s Shares Dematerialized </span></strong></div> <div> Sunrise Bank has joined Central Depository System and Clearing (CDSC) to get its shares dematerialized on August 6. CDSC signed an agreement with Sunrise Bank to dematerialize the company’s 2,0150,000 units of shares. As per the agreement, the bank ISIN (International Securities Identification Number) code is NPE014A00008. </div> <div> </div> <div> <strong><span style="font-size:14px;"><img alt="Himalayan Bank Ltd (HBL)" src="/userfiles/images/HBL.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 25px;" />HBL at Betrawati and Birtamod </span></strong></div> <div> Prachanda Bahadur Shrestha, member of management team of Himalayan Bank Ltd (HBL) inaugurated bank’s Betrawati Branch amidst a function on August 4. Similarly, Manoj Bahadur Shrestha, Chairman of HBL inaugurated bank’s Birtamod Branch at Birtamod,amidst a function on August 7. With this, the bank now has 41 branches. </div> <div> </div> <div> <strong><span style="font-size:14px;"><img alt="Mahakali Bikas Bank Ltd" src="/userfiles/images/MAHAKALI.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 22px;" />Mahakali at Belauri </span></strong></div> <div> Mahakali Bikas Bank Ltd has opened its 4th branch at Belauri, Kanchanpur. The branch was inaugurated by Dr Gunakar Bhatta, Chief Manager, NRB, Dhangadhi branch. </div> <div> </div> <div> <strong><span style="font-size:14px;"><img alt="Sindhu Bikas Bank Ltd " src="/userfiles/images/SINDHU.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 29px;" />Sindhu at Dolalaghat </span></strong></div> <div> Sindhu Bikas Bank Ltd has opened its 5th branch at Dolalghat. The branch was inaugurated by chairman of bank, Rajendra Kumar Shrestha. </div> <div> </div> <div> <strong><span style="font-size:14px;"><img alt="NMB Bank Ltd" src="/userfiles/images/NMB(1).jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 33px;" />NMB at Rasuwa </span></strong></div> <div> NMB Bank Ltd has opened its 25th branch at Rasuwa. The branch was inaugurated by CDO of Rasuwa District Basudev Ghimire. </div> <div> </div> <div> <strong><span style="font-size:14px;"><img alt="Civil Bank" src="/userfiles/images/CIVIL.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 100px; height: 27px;" /><img alt="City Express" src="/userfiles/images/CITYEXPRESS.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 93px; height: 27px;" />Civil and City Tied-up </span></strong></div> <div> Civil Bank has signed agreement with City Express Money Transfer to make remittance payment through the bank´s outlets in different parts of the country. Chandra Tandan, MD of City Express and Kishore Maharjan, CEO of Civil Bank, signed the agreement. </div> <div> </div> <div> <strong><span style="font-size:14px;"><img alt="Siddhartha Development Bank (SDBL)" src="/userfiles/images/SDBL.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 29px;" /><img alt=" Prabhu Money Transfer " src="/userfiles/images/PRABHU.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 81px; height: 29px;" />SDBL and Prabhu Tied-up </span></strong></div> <div> Siddhartha Development Bank (SDBL) has signed agreement with Prabhu Money Transfer to make remittance payment through the bank´s 18 branches spread across Nepal. Mahesh Sharma Dhakal, CEO of SDBL and Rameshwor Sapkota, DGM of Prabhu Money Transfer, signed the agreement. </div> <div> </div> <div> <strong><span style="font-size:14px;"><img alt="Kriti Capital & Investments Ltd." src="/userfiles/images/KRITI.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 25px;" />Kriti Gets PMS License </span></strong></div> <div> Securities Board of Nepal (Sebon) has issued a Portfolio Management Service (PMS) license to Kriti Capital & Investments Ltd. Kriti is the 12th merchant banker to obtain a PMS license under Merchant Banking Regulations, 2008. </div> <div> </div> <div> <strong><span style="font-size:14px;"><img alt="Sanima Mai Hydropower Limited (SMHL) " src="/userfiles/images/SMHL.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 50px;" />SMHL Gets Grade 3 for its IPO </span></strong></div> <div> The upcoming IPO of Sanima Mai Hydropower Limited (SMHL) has received Grade 3 rating from ICRA Nepal, indicating the company’s average fundamentals. SMHL has proposed to float an IPO of 2,110,000 equity shares of face value Rs 100 each.</div> <div> </div>', 'published' => true, 'created' => '2013-08-13', 'modified' => '0000-00-00', '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' => 'Sanima Bank Ltd (Sanima) has opened its 26th & 27th branch at Ghorahi (Dang) and Dhangadhi.', 'sortorder' => '1491', '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' => '1578', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (5-11 August 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><img alt="HBL Launches American Express" src="/userfiles/images/hbl.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 150px; height: 71px;" />HBL Launches American Express Gold Credit Card </strong></div> <div> Himalayan Bank Ltd (HBL) and American Express launched Himalayan Bank American Express Gold Credit Card on August 1. The card will be accepted at more than 900 HBL POS terminals and 76 ATMs within Nepal. The card is of two types namely domestic and international. The domestic card members can get up to 20% saving on dining and up to 15% on shopping and hotels and spa. They can also enjoy privileged access to world-class golf facilities in Nepal and complimentary access to Radisson Lounge at TIA and Altitude Lounge in domestic airports of Delhi and Mumbai. Similarly, international card members can get complimentary membership to the Priority Pass Program that gives access to 600 VIP airport lounges around the world. They will also enjoy great savings and discounts on shopping, dining and travel. </div> <div> </div> <div> </div> <div> <strong><img alt="Everest Bank" src="/userfiles/images/ebl.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 150px; height: 38px;" />EBL Profit Up 34.14 Percent </strong></div> <div> The operating profit of the Everest Bank for the financial year ended 15th July, 2013 has increased by 34.14 percent (Rs. 240.17 crores) compared to the previous financial year (Rs.179.04 crores). The figures are based on the Provisional Account as presented by the Management of the Bank to the Board. The Board noted with satisfaction the Bank has now joined the league of the largest banks in the country with total business in excess of Rs. 10,000 Crores. The NPA has come down to 0.62percent from 0.84percent last year. </div> <div> </div> <div> </div> <div> <strong><img alt="Nepal Derivative Exchange Limited" src="/userfiles/images/ndex.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 150px; height: 101px;" />NDEX Signs Agreement with Auction Holdings</strong></div> <div> Managing Director of Nepal Derivative Exchange Limited Bishwojan Thapa Shrestha had left for Malawi, Africa last week on invitation of Auction Holdings Commodity Exchange for its inauguration. Both the Exchanges signed an agreement in the programmme for bilateral co-ordination, welfare and mutual knowledge sharing. Shrestha from Nepal Derivative Exchange Ltd and RD Matwi from Auction Holdings Commodity Exchange signed the agreement. The visit is expected to strengthen the mutual relationship between both the companies in the future. </div> <div> </div> <div> </div> <div> <strong><img alt="Century ATM" src="/userfiles/images/century(1).jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 22px;" />Century ATM at Koteshwor </strong></div> <div> Century Commercial Bank on Wednesday, July 30 installed its 17th ATM terminal at Koteshwor. </div> <div> </div> <div> </div> <div> <strong><img alt="Janta Bank" src="/userfiles/images/janta(1).jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 27px;" />Janta Bank’s Three ATMs </strong></div> <div> Janta Bank on Tuesday, July 29 installed three ATM terminals at Suryabinayak of Bhaktapur, Nepalgunj and Inarwa. </div> <div> </div> <div> </div> <div> <strong><img alt="xpressmoney" src="/userfiles/images/express.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 50px;" />Mega and Xpress Money Tie </strong></div> <div> An agreement was signed between Mega Bank Nepal Limited and Xpress Money Service for the remittance business on August 1. </div> <div> </div> <div> </div> <div> <strong><img alt="PrabhuMOney transfer" src="/userfiles/images/prabhu(1).jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 35px;" />Prabhu Money Transfer Partners with Century Bank </strong></div> <div> An agreement was signed between Prabhu Money Transfer and Century Commercial Bank for the remittance business. The remittance agreement was jointly signed by Rameshwor Sapkota, General Manager of Prabhu Money Transfer and Ganesh Kumar Shrestha, CEO of Century Commercial Bank.</div> <div> </div>', 'published' => true, 'created' => '2013-08-05', 'modified' => '0000-00-00', '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' => 'Himalayan Bank Ltd (HBL) and American Express launched Himalayan Bank American Express Gold Credit Card on August 1.', 'sortorder' => '1439', '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' => '1526', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (29 July - 4 August 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>EIC Employee on Strike </strong></div> <div> <img alt=" Everest Insurance Company (EIC)" src="/userfiles/images/eic.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 49px;" />Employees of Everest Insurance Company (EIC) are on strike from Wednesday (July 24). After Insurance Board has partially banned on EIC to handle fire insurance business, it has not been capable to renew its license. So, stating that the Insurance Board and the management team of company have not taken any steps to change the situation, the employees of the EIC have been on strike daily from July 24. </div> <div> </div> <div> </div> <div> <strong>NB Bank Awarded for Best Financial Report </strong></div> <div> <img alt="Nepal Bangladesh Bank" src="/userfiles/images/nb%20bank.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 35px;" />Nepal Bangladesh Bank has bagged 1st runner up award for best financial report. The annual award is given by Nepal Chartered Accountants’ Association. The financial reports are evaluated as per the rules set by South Asian Federation of Accountants and the reports that are adjudged best in the country are then sent to compete at the South Asian level. NB Bank made a remarkable improvement compared to last fiscal year. </div> <div> </div> <div> </div> <div> <strong>Laxmi at Waling and Kohalpur </strong></div> <div> <img alt="Laxmi Bank" src="/userfiles/images/laxmi.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 80px; height: 40px;" />Laxmi Bank has opened branches at Waling, Syanga and Kohalpur, Banke. After these, the number of branches of bank reached 33. </div> <div> </div> <div> </div> <div> </div> <div> <strong>Sanima at Hetauda </strong></div> <div> <img alt="Sanima Bank Limited (Sanima) " src="/userfiles/images/sanima%20bank.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 13px;" />Sanima Bank Limited (Sanima) has opened its 25th branch at Hetauda. The branche was jointly inaugurated by the Chairman, Jiba Lamichhane and Brand Ambassador of Sanima, Hari Bansha Acharya & Madan Krishna Shrestha (MAHA). </div> <div> </div> <div> </div> <div> <strong>Citizens’ ATM at Bhat-Bhatani </strong></div> <div> <img alt="" src="/userfiles/images/citizens.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 25px;" />Citizens Bank International on Wednesday, July 24 installed its 36th ATM terminal at Bhat- Bhateni Supermarket, Bhat-Bhateni. </div> <div> </div> <div> </div> <div> <strong>NIBL Debentures Allotted </strong></div> <div> <img alt="Nepal Investment Bank Limited (NIBL)" src="/userfiles/images/nibl.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 24px;" />Nepal Investment Bank Limited (NIBL) has allotted Rs.500 million Redeemable “8% NIB Debenture 2077” to general public on (6th Shrawan, 2070), It is refunding money to the non-allottee investors from 11th Shrawan, 2070. </div> <div> </div> <div> </div> <div> <strong>Manaslu IPO </strong></div> <div> <img alt="" src="/userfiles/images/manaslu.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 33px;" />Manaslu Bikas Bank Ltd is going for initial public offering (IPO). The bank is going to issue 3,60,000 ordinary shares to the public at par value of Rs 100. </div> <div> </div> <div> </div> <div> <strong>Grade 4 for Mahakali IPO </strong></div> <div> <img alt="" src="/userfiles/images/icra.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 46px;" /><img alt="Mahakali Bikas Bank Limited" src="/userfiles/images/mahakali.jpg" style="float: left; margin: 0px 10px 0px 0px;height: 22px; width: 100px;" />ICRA Nepal Limited has assigned a [ICRANP] IPO Grade 4 (Pronounced as ICRA NP IPO Grade Four) Rating to the Rs. 80 million Right Issue of Mahakali Bikas Bank Limited. Instruments with this rating are considered to have below-average fundamentals.</div> <div> </div>', 'published' => true, 'created' => '2013-07-29', 'modified' => '2013-07-29', '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' => 'Employees of Everest Insurance Company (EIC) are on strike from Wednesday (July 24).', 'sortorder' => '1387', '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' => '1478', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (22-28 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Special Meeting Okays RBB Share Conversion </strong></span></div> <div> The special general meeting (SGM) of Rastriya Banijya Bank (RBB) on Sunday, July 14 approved the conversion of 8,735,700 units of preference shares worth Rs 873.57 million into ordinary shares. With the conversion, RBB’s paid-up capital has reached Rs 8.58 billion. </div> <div> </div> <div> The SGM approved the capital restructuring through an amendment to the bank’s MoA and AoA as proposed by RBB Chairman Narahari Dhakal. After this, the bank’s capital adequacy ratio stands at 3 percent for the first time as of mid-July, which is still far below the minimum requirement of 10% set by Nepal Rastra Bank. The bank had planned to increase its core capital to Rs 8.5 billion in its capital plan which has now been attained. The government had earlier injected Rs 4.32 billion in the bank to increase its paid-up capital. </div> <div> </div> <div> The bank had received the Nepal Rastra Bank (NRB) approval for its three-year capital plan in mid-April last year. However, the bank’s proposed Rs 12.5 billion capital plan will not be enough to meet capital adequacy which require Rs 14 billion. Earlier, the government had directed RBB and NIDC Development Bank to merge in order to manage the necessary capital. However, the merger has not taken place particularly due to NIDC’s reluctance. </div> <div> </div> <div> Announcing the government budget for the fiscal year 2013-14, the Finance Minister has announced a plan to upgrade NIDC Development bank to an Infrastructure Development Bank. </div> <div> </div> <div> <span style="font-size:14px;"><strong>NLG Shares Listed </strong></span></div> <div> NLG Insurance Company Limited and Nepse signed an agreement on July 9 to list 2,250,000 units of ordinary shares of NLG. Trading in those shares in the secondary market started on 16 July 2013. These shares were issued as IPO in 29 March 2013.</div> <div> </div>', 'published' => true, 'created' => '2013-07-23', 'modified' => '2013-07-23', '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' => 'The special general meeting (SGM) of Rastriya Banijya Bank (RBB) on Sunday, July 14 approved the conversion of 8,735,700 units of preference shares worth Rs 873.57 million into ordinary shares.', 'sortorder' => '1339', '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' => '1427', 'article_category_id' => '108', 'title' => 'News In Brief (15 - 21 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>Ahluwalia new CEO of Everest Bank</strong><br /> <br /> AK Ahluwalia has been appointed the CEO of Everest Bank. According to a press statement, Ahluwalia assumed office on July 1. “Ahluwalia has more than 32 years of banking experience at Punjab National Bank India and has held the post of deputy general manager in parent organization,” the statement said. Ahluwalia has key expertise in credit and recovery.<br /> <br /> <strong><img alt="nbdbank" src="/userfiles/images/NMB.jpg" style="width: 220px; height: 73px; margin: 10px;" /><br /> <br /> NMB Sulav Investment Fund-I Coming</strong><br /> <br /> NMB Bank is bringing ‘NMB Sulav Investment Fund-I’ in first quarter of the coming Nepali fiscal year. The Rs 60 million fund is closed-end are with five years maturity period. The bank is going to invest 60 percent of the fund on shares and 40 percent on debentures. The unit holders are promised 12 percent annual return. NMB Capital Limited has been appointed as the issue manager of the fund.<br /> <br /> <br /> <br /> <img alt="banijya" src="/userfiles/images/banijya.jpg" style="width: 203px; height: 78px; margin: 10px;" /><br /> <strong>RBB Dullu Branch Reinstated</strong><br /> <br /> Rastriya Banijya Bank reinstated its Dullu Branch on Tuesday (July 9). The branch was inaugurated by Nepalgunj Regional Office Chief Bir Banahur Chand.<br /> <br /> <br /> <br /> <img alt="ndep" src="/userfiles/images/NDEP.jpg" style="width: 128px; height: 112px; margin: 10px;" /><br /> <br /> <img alt="hama" src="/userfiles/images/HAMA.jpg" style="margin: 10px; width: 197px; height: 72px;" /><br /> <strong>NDEP Hama Merger Cancelled</strong><br /> <br /> The merger process between Hama Merchant and Finance Ltd and NDEP Development Bank has been cancelled. The reason for the decision is to open the path to merge both of these BFIs with Prabhu Finance, says the sources. To further strengthen capital position and consolidate its presence on the market, Prabhu Finance has simultaneously initiated merger talks with NDEP Development Bank and Hama Merchant Bank.<br /> <br /> <img alt="Hama Merchant Finance" src="/userfiles/images/NepalBank.jpg" style="width: 147px; height: 119px; margin: 10px;" /><br /> <br /> <strong>NBL Right Shares Undersubscribed</strong><br /> <br /> The rights shares issued by Nepal Bank has fallen 8 percent short of being fully subscribed as the money collected by the end of closing day was only 92 percent of the total issue. As per a press statement, the bank will sell the remaining shares in a manner prescribed in the law. The bank got Rs 1.40 billion worth of applications for the rights shares from the government alone, which has 38.6 percent stake in the bank. Likewise, it collected Rs 1.93 billion from other shareholders who own 61.4 percent stake in the bank. The total collection from this rights issue stands at Rs 3.33 billion.<br /> <br /> </p>', 'published' => true, 'created' => '2013-07-15', 'modified' => '0000-00-00', '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' => 'AK Ahluwalia has been appointed the CEO of Everest Bank. According to a press statement, Ahluwalia assumed office on July 1. “Ahluwalia has more than 32 years of banking experience at Punjab National Bank India and has held the post of deputy general manager in parent organization,” the statement said. Ahluwalia has key expertise in credit and recovery.', 'sortorder' => '1289', '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' => '1377', 'article_category_id' => '108', 'title' => 'Bhargav In Basgadi', 'sub_title' => '', 'summary' => null, 'content' => '<p> <span style="font-size: 12px;">Bhargav Bikas Bank has opened its branch at Basgadi, Bardiya.</span></p> <div> </div>', 'published' => true, 'created' => '2013-07-09', 'modified' => '0000-00-00', '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' => 'Bhargav Bikas Bank has opened its branch at Basgadi, Bardiya.', 'sortorder' => '1239', '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' => '1376', 'article_category_id' => '108', 'title' => 'Pathibhara And Srijana In Merger', 'sub_title' => '', 'summary' => null, 'content' => '<p> <span style="font-size: 12px;">Pathibhara Bikas Bank and Srijana Finance have signed an agreement for merger. After the merger the name of the new entity will be Pathibhara Bikas Bank with head office and corporate office at Biratnagar.</span></p>', 'published' => true, 'created' => '2013-07-09', 'modified' => '0000-00-00', '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' => 'Pathibhara Bikas Bank and Srijana Finance have signed an agreement for merger.', 'sortorder' => '1238', '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' => '1375', 'article_category_id' => '108', 'title' => 'KBL Extension Counter At RBS', 'sub_title' => '', 'summary' => null, 'content' => '<p> <span style="font-size: 12px;">Kumari Bank Limited (KBL) and Rastriya Beema Sansthan (RBS) have signed an agreement whereby the bank will operate extension counter in the premises of RBS effective from 30 June 2013. The agreement was signed by Uday K. Upadhyay, Acting CEO of Kumari Bank Limited and Ram Bahadur Khadka, Administrator of RBS. KBL is providing banking services from 30 points of representations.</span></p>', 'published' => true, 'created' => '2013-07-09', 'modified' => '0000-00-00', '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' => 'Kumari Bank Limited (KBL) and Rastriya Beema Sansthan (RBS) have signed an agreement ..', 'sortorder' => '1237', '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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Bhushan Shamsher JB Rana, CEO of the Bank, and NCM Merchant Banking Ltd Managing Director Bijay Lal Shrestha, have signed an agreement on this regard. Yeti Development Bank has begun operation after a merger between Manakamana Development Bank Ltd, Valley Finance Ltd and Yeti Finance Ltd.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Prabhu’s Service Center in Nuwakot</strong></span></div> <div> Prabhu Money Transfer Company has started its service center in Nuwakot. Prabhu has made the Bidur-based Panchakanya Multipurpose Cooperative its service center. Panchakanya Cooperative has been long working as an agent of Prabhu Money Transfer. Director of Prabhu Management inaugurated the newly established service center last Monday. Though the company has seven service centers in Kathmandu, it established its first service center in Nuwakot outside the Kathmandu Valley. The company has said that the establishment of the service center was a part of its campaign to extend remittance services in remote parts of the country.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Sansar Remit to Bring Remittance from Japan</strong></span></div> <div> Sansar Remit Pvt Ltd is preparing to bring remittance funds from Japan. According to the company’s Chairperson Pradip Shrestha, it will begin service after the Dashain festival with some new schemes. It is currently providing remittance services from Portugal, Spain and Italy. After Japan, the company will also start its service from America, Australia and other countries.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Dr Bhattarai appointed Janata Bank’s CEO</strong></span></div> <div> Dr Ramesh Kumar Bhattarai has been appointed as the Chief Executive Officer (CEO) of the Janata Bank Nepal Ltd. The meeting of the Board of Directors of the Janata Bank held on September 24 decided to appoint Dr Bhattarai as the CEO of the Bank. According to the press release of the Janata Bank, Dr Bhattarai will assume the post of the CEO from October 9. Dr Bhattarai, a retired administrator of the Employees Provident Fund, has an experience of more than 10 years on working with various commercial banks and public enterprises. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Jyoti and City Express in Agreement</strong></span></div> <div> Jyoti Development Bank Ltd and City Express Money Transfer have struck an agreement on remittance services. The bank’s CEO Govinda Prashad Upadhyaya and the Managing Director of City Express Money Transfer, Chandra Tandon, signed the agreement last Tuesday. Remittance services from this agreement will be available from all branch offices of the Jyoti Development Bank.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Nabil’s Online Account Opening Facility</strong></span></div> <div> Nabil Bank has initiated a service to open bank accounts through the online system. The bank has said that the facility was initiated to save the time of its customers and increase banking access among people. “We have begun this service as per our commitment to provide automated banking services,” Chief Executive Officer of the Bank, Anil Gyawali, said. The bank has claimed that this service is the first of its kind in Nepal. According to the bank, people can open their account by submitting a request online through the bank´s website: www.nabilbank.com.</div>', 'published' => true, 'created' => '2013-10-07', 'modified' => '2013-10-08', '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' => 'NCM Merchant Banking has been appointed as the share registrar of Yeti Development Bank Ltd. Bhushan Shamsher JB Rana, CEO of the Bank, and NCM Merchant Banking Ltd Managing Director Bijay Lal Shrestha, have signed an agreement on this regard. Yeti Development Bank has begun operation after a merger between Manakamana Development Bank Ltd, Valley Finance Ltd and Yeti Finance Ltd.', 'sortorder' => '1788', '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) 1 => array( 'Article' => array( 'id' => '1901', 'article_category_id' => '108', 'title' => 'Money Matter News In Brief (30 September - 3 October 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Vibor, Reliable Remit Ink Agreement</strong></span></div> <div> Reliable Remit Service, operated by Reliable Remit Ltd, has inked a deal recently with Vibor Bank following which customers can now send and receive their money from six branches of the Vibor bank and 1600 agents of Reliable Remit. CEO of Reliance Finance, Narayan Bahadur Lohani and CEO of Vibor Bank, Narayan Bahadur Lohani signed an agreement of partnership last week.</div> <div> </div> <div> <span style="font-size:14px;"><strong>21pc Dividend of Kamana </strong></span></div> <div> Kamana Development Bank has said it will distribute a total of 21 percent dividend on the net profit of Fiscal Year 2012-13. According to the press release of the bank, the meeting of Board of Directors (BoD) held last Monday (September 23) decided to distribute 15 per cent bonus and 6 per cent cash dividend. Umesh Kumar Acharya, CEO of the Bank, informed that the dividend will be distributed following the approval of Nepal Rastra Bank and endorsement from the Annual General Meeting of the company. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Siddhartha Brings Visa Prepaid Travel Card</strong></span></div> <div> Siddhartha Bank will distribute free Visa Prepaid Travel Card to its customers as part of its ‘Utsav Scheme’. The Bank has informed that the customers can get such cards from any of its branches upon filling up a form by November 30. The press release of the bank on the launch of a new service of Card states that the customers can make transactions through Visa ATM and POS machine from anywhere in the world.</div> <div> </div> <div> <span style="font-size:14px;"><strong>City, NCC Sign Agreement</strong></span></div> <div> City Express Money Transfer and NCC Bank Ltd have signed an agreement on providing the remittance service. Under the agreement, money remitted from abroad can be collected from any branch of the NCC Bank. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Grand’s ‘Special Saving Account’</strong></span></div> <div> Grand Bank Nepal Ltd has started ‘Grand Special Saving Account’ on the occasion of Dashain and Tihar festivals. The minimum balance for the account would be of Rs 100,000. The Bank has said that it will provide 7 per cent per annum interest rate on daily balance. According to the press release of the bank, it will provide 50 per cent discount on charge for getting a Draft and Balance Certificate. </div> <div> </div> <div> <span style="font-size:14px;"><strong>United Hands Over Insurance Claim Payment</strong></span></div> <div> United Insurance Company Ltd has made the highest payment of insurance so far. The Company has handed a payment worth Rs 589 million to the insured party representative Narottam Kumar Mehta from the Chaudhary Group amid a programme held in the capital last Tuesday. According to the CEO of the insurance company, Bir Bikram Raymajhi, the payment was made as a compensation of the loss that the insured company incurred due to fire accidents in the company’s Satungal based CG Impex Pvt Ltd, EOL Pvtd Ltd and CG electronics Pvt Ltd last year. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Vibor Capital Appointed as Mission Dev’s Registrar </strong></span></div> <div> Mission Development Bank has appointed the Vibor Capital Ltd as its share registrar. Bank’s CEO Hari Prashad Ghimire and Vibor Capital’s CEO Shankar Kalikote has signed on the appointment letter to this effect. The Company’s shares were listed in the Nepal Stock Exchange recently.</div>', 'published' => true, 'created' => '2013-09-30', 'modified' => '2013-10-01', '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' => 'Reliable Remit Service, operated by Reliable Remit Ltd, has inked a deal recently with Vibor Bank following which customers can now send and receive their money from six branches of the Vibor bank and 1600 agents of Reliable Remit. CEO of Reliance Finance, Narayan Bahadur Lohani and CEO of Vibor Bank, Narayan Bahadur Lohani signed an agreement of partnership last week.', 'sortorder' => '1762', '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' => '1835', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (26 - 22 September 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>NRB Refutes Deadline Extension Reports</strong></span></div> <div> Nepal Rastra Bank (NRB) has clarified that it has not extended the deadline to meet the minimum required capital (paid-up capital) for banking and financial institutions (BFIs). NRB has ruled out extension of the deadline following a news report claiming that it had extended the deadline to meet the minimum required capital. “We have provisioned that the proposed bonus share distribution on Fiscal Year 2013-14 if approved by the NRB could be counted on the paid-up capital,” NRB spokesperson Bhaskarmani Gyawali said. Through the monetary policy, the NRB had directed those bank and financial institutions, who are yet to meet the minimum paid-up capital, to do so by the end of FY 2013-14. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Tinau’s Dividend Approved</strong></span></div> <div> Tinau Development Bank Ltd, headquartered at Butwal, got an approval from Nepal Rastra Bank to distribute a 12.69 per cent dividend including 12 per cent as bonus shares. The bank has collected Rs 1.53 billion deposit and extended a total of Rs 1.12 billion as loan during the last Fiscal Year. It has earned a Rs 23.3 million as profit and has issued capital of Rs 200 million and paid up capital of 115 million with eight branches in operation.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Everest Announces Book Closure Date</strong></span></div> <div> Everest Bank has announced the book closure for share trading from September 18 to October 10 for the upcoming Annual General Meeting (AGM). Releasing a communiqué last Wednesday, the bank stated that the 237th meeting of the Board of Directors (BoD) held on September 6 made such a decision. The details of the upcoming AGM will be made public laterby publishing a separate notice, the communiqué added.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Siddhartha Development’s ‘SDBL Auto Loan’</strong></span></div> <div> Siddhartha Development Bank Ltd has announced ‘SDBL Auto Loan’ scheme for the coming Dashain festival. According to the scheme, the loans will be on 11.99 per cent per annum interest rate to purchase new and reconditioned vehicles with 60 per cent discount on service charge. The other features of the scheme include loans up to 80 per cent of the vehicle cost, seven years of moratorium period and a fixed interest rate for a year.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Garima’s 25pc Dividend</strong></span></div> <div> Garima Development Bank Ltd will propose a 25 per cent dividend distribution at its Annual General Meeting (AGM). According to the bank, it is going to propose 20 per cent bonus shares and 5 per cent cash dividend. The bank has collected a total amount of Rs 3 billion deposit and floated Rs 2.43 billion as a loan until the end of Fiscal Year 2012-13. Chief Executive Officer Govinda Prashad Dhakal informed that the bank earned an operating profit of Rs 96.1 million in the FY2012-13. He further said that the bank is planning to issue rights shares next month. The bank says that its paid-up capital will reach 374 million after issuing rights share and distributing the dividends.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Kaski Finance’s 13pc Cash Dividend</strong></span></div> <div> Pokhara based Kaski Finance Ltd will distribute 13 per cent cash dividend to its shareholders. The dividend will be distributed after approval from the Annual General Meeting of the Company, said Chief Executive Officer (CEO) Toya Raj Adhikari.</div>', 'published' => true, 'created' => '2013-09-17', 'modified' => '0000-00-00', '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' => 'Nepal Rastra Bank (NRB) has clarified that it has not extended the deadline to meet the minimum required capital (paid-up capital) for banking and financial institutions (BFIs).', 'sortorder' => '1696', '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' => '1803', 'article_category_id' => '108', 'title' => 'Brief Money Matters', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><span style="font-size:14px;">NRB refutes deadline extension reports</span></strong></div> <div> Nepal Rastra Bank (NRB) clarified that it has not extended the deadline to meet the minimum required capital (paid-up capital) for banking and financial institutions (BFIs). NRB has ruled out extension of the deadline after there was news reporting that it had extended the deadline to meet the minimum required capital. “We have provisioned that the proposed bonus share distribution on Fiscal Year 2013-14 if approved by the NRB could be counted on the paid-up capital,” NRB spokesperson Bhaskarmani Gyawali said. Through the monetary policy, the NRB had directed those bank and financial institutions, who are yet to meet the minimum paid-up capital, to do so by the end of FY 2013-14. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Tinau’s dividend approved</strong></span></div> <div> Tinau Development Bank Ltd, headquartered at Butwal, got an approval from Nepal Rastra Bank to distribute a 12.69 per cent dividend. The bank is going to distribute the bonus from the profit of Fiscal Year 2012-13. The bank has collected Rs 1.53 billion deposit and extended a total of Rs 1.12 billion during the review period. It has earned a Rs 23.3 million profit and has issued capital of Rs 200 million and paid up capital of 115 million with eight branches in operation.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Everest Announces Book Closure Date</strong></span></div> <div> Everest Bank announced the book closure for share trading from September 18 to October 10 for the upcoming Annual General Meeting (AGM) of the bank. Releasing a communiqué last Wednesday, the bank stated that the 237th meeting of the Board of Directors (BoD) held on September 6 made such a decision. The details of AGM of 2012/13 will be made public by publishing the notice, the communiqué added.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Siddhartha Development’s ‘SDBL Auto Loan’</strong></span></div> <div> Siddhartha Development Bank Ltd started the ‘SDBL Auto Loan’ scheme on the occasion of Dashain. According to the scheme, it will extend loans on 11.99 per cent per annum interest rate to purchase new and reconditioned vehicles with 60 per cent discount on service charge. Likewise, other features of the scheme include loans of up to 80 per cent of the vehicle cost, seven years of moratorium period and unchangeable interest rate for a year, among others.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Garima’s 25 pc dividend</strong></span></div> <div> Garima Development Bank Ltd has said that it will propose a 25 per cent dividend distribution at its Annual General Meeting (AGM). According to the bank, it is going to propose 20 per cent bonus shares and 5 per cent cash dividend. The bank has collected a total amount of Rs 3 billion deposit and floated Rs 2.43 billion as a loan until the end of Fiscal Year 2012-13. Chief Executive Officer Govinda Prashad Dhakal informed that the bank earned an operating profit worth Rs 96.1 million in the FY2012-13. He further said that the bank is planning to issue rights shares next month. The bank has claimed that its issued and paid-up capital will reach 374 million after issuing rights share and distributing the dividends.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Kaski Finance to distribute 13 pc cash dividend</strong></span></div> <div> Pokhara based Kaski Finance has said that it will distribute 13 per cent cash dividend to its shareholders. The dividend will be distributed after the approval from the Annual General Assembly of the Finance and the decision of the 98th meeting of the Board of Directors. Chief Executive Officer (CEO) Toya Raj Adhikari said that the cash dividend is being distributed from the Finance’s profit of the Fiscal Year 2012-13.</div>', 'published' => true, 'created' => '2013-09-14', 'modified' => '0000-00-00', 'keywords' => 'Money Matters', 'description' => 'Nepal Rastra Bank (NRB) clarified that it has not extended the deadline to meet the minimum required capital (paid-up capital) for banking and financial institutions (BFIs).', 'sortorder' => '1664', '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' => '1796', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (9 -15 September 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><span style="font-size:14px;">Everest Bank’s Mobile ATM Facility</span></strong></div> <div> Everest Bank Limited began a mobile ATM facility. As per this facility, customers do not need to go to branch to get the banking services of the Everest Bank. The customers can get the payment from the designated bank representative. The Bank said that they have their designated representatives across the country. According to the press release of the bank, customers can also open their bank account from the designated representative. Everest Bank has introduced the concept of branchless banking service for the first time in Nepal.</div> <div> </div> <div> <strong><span style="font-size:14px;">Siddhartha Dev Bank’s ‘Home Loan Scheme’</span></strong></div> <div> Siddhartha Development Bank brought a ‘SDBL Home Loan’ scheme. The Bank said it has brought the scheme to fulfill the dream of every citizen to have their own home. The Bank informed that it will extend the maximum loan up to Rs 10 million to purchase home and apartment as well as to build the home. </div> <div> </div> <div> <strong><span style="font-size:14px;">Kailash Proposes 19 per cent Dividend </span></strong></div> <div> Kailash Development Bank Ltd said it will distribute 19 per cent dividend from the profit earned in the Fiscal Year 2012-13. The meeting of the Board of Directors (BOD) held last Wednesday decided to recommend distribution of 10 per cent bonus share and 9 per cent cash dividend. The Bank has collected Rs 6.26 billion deposit and extended a total of Rs 5.5 billion as loans in the Fiscal Year 2012-13. It informed that it has earned Rs 152.6 million net profit in the review period. </div> <div> </div> <div> <strong><span style="font-size:14px;">Discount on Infrastructure’s Locker </span></strong></div> <div> Infrastructure Development Bank Ltd said it will provide the free locker facility for a year to the customer opening bank account on ‘Naari Samriddi Khaata’. The Bank said it is providing this facility on the auspicious occasion of Hindu women’s festival Teej. The Bank, which merged with Swastik Merchant Finance Co Ltd last year, is providing banking services to its customers through 18 branches. </div> <div> </div> <div> <strong><span style="font-size:14px;">Laxmi Bank’s branch at Kohalpur</span></strong></div> <div> Laxmi Bank Ltd opened its branch at Kohalpur in Nepalgunj. The branch started its operation from last Monday. The number of the Bank’s branches has reached 33 with this newly opened branch. The Branch’s Manager Rima Malla informed that the branch will offer ATM, internet banking, mobile and other services. </div> <div> </div> <div> <strong><span style="font-size:14px;">Bhrikuti Development Enters 10th Year</span></strong></div> <div> Bhrikuti Development Bank Ltd headquartered in Butwal entered 10th year last Tuesday. The Bank had started its operation on September 3, 2004. The Bank’s paid up capital that started with Rs 10.5 million has now reached Rs 353.1. The Bank has expanded its services to 10 districts. The Bank said that the deposit amount of the bank has reached a total of Rs 4.30 billion and extended a total of Rs 3.21 billion as loans until the end of the Fiscal Year 2012-13. The bank has earned Rs 110 million profit. </div> <div> </div> <div> <strong><span style="font-size:14px;">Om Finance to Distribute 21 pc Dividend</span></strong></div> <div> Om Finance Ltd headquartered at Pokhara said it is planning to distribute 20 per cent bonus share and 1 per cent cash dividend. The Finance’s Annual General Meeting will decide to distribute a total of 21 per cent dividend after getting the approval from the Nepal Rastra Bank, according to the press statement released by the General Manager of Om Finance last Monday. Malla informed that the paid up capital of the Finance will be of worth Rs 325.7 million after distributing the dividend. </div>', 'published' => true, 'created' => '2013-09-09', 'modified' => '0000-00-00', '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 began a mobile ATM facility. As per this facility, customers do not need to go to branch to get the banking services of the Everest Bank.', 'sortorder' => '1657', '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' => '1748', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (2 - 8 September 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><span style="font-size:14px;">Everest Bank’s ‘Adopt a School’ Campaign</span></strong></div> <div> Everest Bank began its ‘Adopt a School Campaign’ by handing over school materials to the Janakpur-based Jagrup Shah, Rampukar Shah Higher Secondary School.The Bank’s Chief Executive Officer AK Ahluwalia handed over computers and other school materials to the Principal of the school amid a function last Tuesday.The Bank has said it will dedicate itself in improving the living standards of children through educational support. </div> <div> </div> <div> <strong><span style="font-size:14px;">Shangrila Bank Seven-years-old Now</span></strong></div> <div> Shangrila Development Bank Ltd headquartered at Pokhara turned seven on August 25. The bank organised a blood donation programme at its central office in Newroad, Pokhara to mark the seven years of its establishment. Officiating Chief Executive Officer Dinesh Thakali informed that 55 persons donated their blood during the programme held with the technical support of Nepal Red Cross Society, Pokhara. Thakali also said the bank has a deposit amount of Rs 3.12 billion and has extended a total of Rs 2.71 billion as loans until the end of the Fiscal Year 2012-13, earning Rs 133.6 million operating profit in the review period. </div> <div> </div> <div> <strong><span style="font-size:14px;">15 thousand Benefitted from BoK ‘Youth Save’</span></strong></div> <div> 15 thousand youths benefitted from ‘Youth Save’, a financial education programme jointly run by Bank of Kathmandu Ltd and Save The Children. The programme was launched with an aim to provide banking transactions and saving knowledge to youths. </div> <div> </div> <div> <strong><span style="font-size:14px;">Agricultural loan of Siddhartha Development</span></strong></div> <div> Siddhartha Development Bank Ltd started the SDBL agricultural loan last week. The bank has started this loan as it believes that development of agriculture can develop the country. The bank will float loans to farmers in animal farming, fishery, bee keeping, vegetable and fruit farming, agriculture based handicrafts businesses and purchasing of farming equipment, among others. </div> <div> </div> <div> <strong><span style="font-size:14px;">Global IME’s Branchless Banking Service</span></strong></div> <div> Global IME Bank Ltd extended its branchless service to Sukhipur and Kalyanpur VDCs of Siraha district. Deputy CEO Janak Sharma Poudyal inaugurated the service of the bank last Thursday. Certain banking services are provided through the designated agents in the branchless banking service. </div>', 'published' => true, 'created' => '2013-09-03', 'modified' => '0000-00-00', '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 began its ‘Adopt a School Campaign’ by handing over school materials to the Janakpur-based Jagrup Shah, Rampukar Shah Higher Secondary School.', 'sortorder' => '1609', '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' => '1663', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><span style="font-size:14px;">NRB Asked Capital Increment Plan</span></strong></div> <div> Nepal Rastra bank (NRB) has asked Banks and Financial Institutions (BFIs) to submit their plan to increase the paid-up capital as prescribed by NRB. The BFIs who have not increased their capital till mid-July 2013 to the minimum amount as prescribed, have to place the plan to NRB till Mid-Oct 2013. NRB issued such circular to all BFIs on August 11 (Sunday). As per this directive, commercial banks have to have a paid-up capital of Rs 2 billion and the national level development banks have to make it Rs 640 million. Similarly, the finance companies have to have a minimum of of Rs 200 million. </div> <div> </div> <div> </div> <div> <strong><span style="font-size:14px;">SEBON Inspects 30 Brokerage Companies</span></strong></div> <div> Securities Board of Nepal (SEBON) has inspected 30 brokerage companies after the complaint were filed against them. SEBON has inspected the detailed information regarding the buyers and sellers. Similarly, the on-site inspection also investigated matters related to anti-money laundering. The inspection has found that the brokers have been providing privilege to the larger investor than the smaller investors. Thus, they have been warned, not to repeat this behavior in future.</div> <div> </div> <div> </div> <div> <strong><span style="font-size:14px;">NBL Right Share Allotment </span></strong></div> <div> <img alt="Nepal Bank Limited (NBL)" src="/userfiles/images/nbl.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 81px;" />Nepal Bank Limited (NBL) has allotted 3,360,606 right shares to the shareholders. Out of this, 13,972,866 shares have been allotted to Government of Nepal and remaining 19,387,740 shares to the general public. This allotment is 92.17 percent of the right shares issued. The remaining unsubscribed right shares are to be auctioned.</div> <div> </div> <div> </div> <div> </div> <div> <strong><span style="font-size:14px;">EIC Resumes Operation</span></strong></div> <div> <img alt="Everest Insurance Company (EIC)" src="/userfiles/images/eic(1).jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 49px;" />Everest Insurance Company (EIC) resumed its operation from Sunday August 11 after an understanding between management team and agitation employees. Earlier, the Insurance Board had refused to renew the company’s licence as it had found embezzlement on payment of claim worth Rs 40 million to Himalayan Snax made by company.</div> <div> </div> <div> </div> <div> <strong><span style="font-size:14px;">Merger between Best and Samsara</span></strong></div> <div> The merger between Best Remit UK and Samsara Remit UK took place on Wednesday, 14 August. After the merger the new remittance company will operate in the name of ‘Best Samsara Remit’. </div> <div> Presidents of Best Holding Bhimkrishna Udas and Samsara Nepal UK Rajaram Giri signed the agreement for the merger. </div> <div> </div> <div> </div> <div> <strong><span style="font-size:14px;">Mega Distributes Certificate</span></strong></div> <div> <img alt="Mega Bank Nepal Ltd" src="/userfiles/images/mega.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 49px;" />Mega Bank Nepal Ltd had started distributing share certificates to the allotted shareholders from August 12. </div> <div> </div> <div> </div> <div> <strong><span style="font-size:14px;">Mega goes Branchless at Aargakachi</span></strong></div> <div> Mega Bank has started branchless banking services at two locations of Aargakachi. The two places are Hansapur and Khiliji of Aargakachi. </div> <div> </div> <div> </div> <div> <strong><span style="font-size:14px;">NIBL at Bharahathawa</span></strong></div> <div> <img alt="Nepal Investment Bank Ltd (NIBL) " src="/userfiles/images/nibl(1).jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 27px;" />Nepal Investment Bank Ltd (NIBL) has opened its 44th branch at Bharahathawa, Sarlahi. The branch was inaugurated by bank’s CEO Jyoti Prakash Pandey on August 15 (Thursday).</div> <div> </div> <div> </div> <div> <strong><span style="font-size:14px;">RMDC IPO Allotment</span></strong></div> <div> <img alt="" src="/userfiles/images/rmdc.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 50px; height: 50px;" />Rural Microfinance Development Center (RMDC) Ltd has allotted its IPO on Thursday August 15. Though RMDC had issued 1,560,000 unit of shares, it had got applications for a total of 17,429,240 units. </div> <div> </div> <div> </div> <div> </div> <div> <strong><span style="font-size:14px;">GBIME at Hetuada</span></strong></div> <div> <img alt="Global IME Bank" src="/userfiles/images/gbime.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 21px;" />Global IME Bank has opened its 71st branch at Hetuada. The branch was inagurated by NPBC President Kush Kumar Joshi on Friday, August 16.</div> <div> </div>', 'published' => true, 'created' => '2013-08-19', 'modified' => '2013-08-20', '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' => 'Nepal Bank Limited (NBL) has allotted 3,360,606 right shares to the shareholders.', 'sortorder' => '1524', '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' => '1630', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (12 - 18 August 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><span style="font-size:14px;">S<img alt="Sanima Bank Ltd" src="/userfiles/images/SANIMA.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 13px;" />anima at Ghorai & Dhangadhi </span></strong></div> <div> Sanima Bank Ltd (Sanima) has opened its 26th & 27th branch at Ghorahi (Dang) and Dhangadhi. The Ghorahi branch was jointly inaugurated by Mahesh Ghimire, Director, Sanima Bank, and Hari Bansha Acharya, renowned artist and social activist of Nepal. Similarly, the Dhangadi branch was jointly inaugurated by Bharat Kumar Pokharel, Director, Sanima Bank, and Hari Bansha Acharya. </div> <div> </div> <div> <strong><span style="font-size:14px;"><img alt="Shine Resunga Development (SRD) Bank " src="/userfiles/images/SRD.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 19px;" />SRD New Share Certificate Distribution </span></strong></div> <div> Shine Resunga Development (SRD) Bank Limited is distributing new share certificates to the shareholders of Shine Development Bank Limited and Resunga Bikas Bank Limited which merged to form SRD from August 2. </div> <div> </div> <div> <strong><span style="font-size:14px;"><img alt="Sunrise Bank" src="/userfiles/images/SUNRISE.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 24px;" /><img alt="CDSC" src="/userfiles/images/CDSC.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 32px; height: 24px;" />Sunrise Bank’s Shares Dematerialized </span></strong></div> <div> Sunrise Bank has joined Central Depository System and Clearing (CDSC) to get its shares dematerialized on August 6. CDSC signed an agreement with Sunrise Bank to dematerialize the company’s 2,0150,000 units of shares. As per the agreement, the bank ISIN (International Securities Identification Number) code is NPE014A00008. </div> <div> </div> <div> <strong><span style="font-size:14px;"><img alt="Himalayan Bank Ltd (HBL)" src="/userfiles/images/HBL.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 25px;" />HBL at Betrawati and Birtamod </span></strong></div> <div> Prachanda Bahadur Shrestha, member of management team of Himalayan Bank Ltd (HBL) inaugurated bank’s Betrawati Branch amidst a function on August 4. Similarly, Manoj Bahadur Shrestha, Chairman of HBL inaugurated bank’s Birtamod Branch at Birtamod,amidst a function on August 7. With this, the bank now has 41 branches. </div> <div> </div> <div> <strong><span style="font-size:14px;"><img alt="Mahakali Bikas Bank Ltd" src="/userfiles/images/MAHAKALI.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 22px;" />Mahakali at Belauri </span></strong></div> <div> Mahakali Bikas Bank Ltd has opened its 4th branch at Belauri, Kanchanpur. The branch was inaugurated by Dr Gunakar Bhatta, Chief Manager, NRB, Dhangadhi branch. </div> <div> </div> <div> <strong><span style="font-size:14px;"><img alt="Sindhu Bikas Bank Ltd " src="/userfiles/images/SINDHU.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 29px;" />Sindhu at Dolalaghat </span></strong></div> <div> Sindhu Bikas Bank Ltd has opened its 5th branch at Dolalghat. The branch was inaugurated by chairman of bank, Rajendra Kumar Shrestha. </div> <div> </div> <div> <strong><span style="font-size:14px;"><img alt="NMB Bank Ltd" src="/userfiles/images/NMB(1).jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 33px;" />NMB at Rasuwa </span></strong></div> <div> NMB Bank Ltd has opened its 25th branch at Rasuwa. The branch was inaugurated by CDO of Rasuwa District Basudev Ghimire. </div> <div> </div> <div> <strong><span style="font-size:14px;"><img alt="Civil Bank" src="/userfiles/images/CIVIL.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 100px; height: 27px;" /><img alt="City Express" src="/userfiles/images/CITYEXPRESS.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 93px; height: 27px;" />Civil and City Tied-up </span></strong></div> <div> Civil Bank has signed agreement with City Express Money Transfer to make remittance payment through the bank´s outlets in different parts of the country. Chandra Tandan, MD of City Express and Kishore Maharjan, CEO of Civil Bank, signed the agreement. </div> <div> </div> <div> <strong><span style="font-size:14px;"><img alt="Siddhartha Development Bank (SDBL)" src="/userfiles/images/SDBL.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 29px;" /><img alt=" Prabhu Money Transfer " src="/userfiles/images/PRABHU.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 81px; height: 29px;" />SDBL and Prabhu Tied-up </span></strong></div> <div> Siddhartha Development Bank (SDBL) has signed agreement with Prabhu Money Transfer to make remittance payment through the bank´s 18 branches spread across Nepal. Mahesh Sharma Dhakal, CEO of SDBL and Rameshwor Sapkota, DGM of Prabhu Money Transfer, signed the agreement. </div> <div> </div> <div> <strong><span style="font-size:14px;"><img alt="Kriti Capital & Investments Ltd." src="/userfiles/images/KRITI.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 25px;" />Kriti Gets PMS License </span></strong></div> <div> Securities Board of Nepal (Sebon) has issued a Portfolio Management Service (PMS) license to Kriti Capital & Investments Ltd. Kriti is the 12th merchant banker to obtain a PMS license under Merchant Banking Regulations, 2008. </div> <div> </div> <div> <strong><span style="font-size:14px;"><img alt="Sanima Mai Hydropower Limited (SMHL) " src="/userfiles/images/SMHL.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 50px;" />SMHL Gets Grade 3 for its IPO </span></strong></div> <div> The upcoming IPO of Sanima Mai Hydropower Limited (SMHL) has received Grade 3 rating from ICRA Nepal, indicating the company’s average fundamentals. SMHL has proposed to float an IPO of 2,110,000 equity shares of face value Rs 100 each.</div> <div> </div>', 'published' => true, 'created' => '2013-08-13', 'modified' => '0000-00-00', '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' => 'Sanima Bank Ltd (Sanima) has opened its 26th & 27th branch at Ghorahi (Dang) and Dhangadhi.', 'sortorder' => '1491', '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' => '1578', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (5-11 August 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><img alt="HBL Launches American Express" src="/userfiles/images/hbl.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 150px; height: 71px;" />HBL Launches American Express Gold Credit Card </strong></div> <div> Himalayan Bank Ltd (HBL) and American Express launched Himalayan Bank American Express Gold Credit Card on August 1. The card will be accepted at more than 900 HBL POS terminals and 76 ATMs within Nepal. The card is of two types namely domestic and international. The domestic card members can get up to 20% saving on dining and up to 15% on shopping and hotels and spa. They can also enjoy privileged access to world-class golf facilities in Nepal and complimentary access to Radisson Lounge at TIA and Altitude Lounge in domestic airports of Delhi and Mumbai. Similarly, international card members can get complimentary membership to the Priority Pass Program that gives access to 600 VIP airport lounges around the world. They will also enjoy great savings and discounts on shopping, dining and travel. </div> <div> </div> <div> </div> <div> <strong><img alt="Everest Bank" src="/userfiles/images/ebl.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 150px; height: 38px;" />EBL Profit Up 34.14 Percent </strong></div> <div> The operating profit of the Everest Bank for the financial year ended 15th July, 2013 has increased by 34.14 percent (Rs. 240.17 crores) compared to the previous financial year (Rs.179.04 crores). The figures are based on the Provisional Account as presented by the Management of the Bank to the Board. The Board noted with satisfaction the Bank has now joined the league of the largest banks in the country with total business in excess of Rs. 10,000 Crores. The NPA has come down to 0.62percent from 0.84percent last year. </div> <div> </div> <div> </div> <div> <strong><img alt="Nepal Derivative Exchange Limited" src="/userfiles/images/ndex.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 150px; height: 101px;" />NDEX Signs Agreement with Auction Holdings</strong></div> <div> Managing Director of Nepal Derivative Exchange Limited Bishwojan Thapa Shrestha had left for Malawi, Africa last week on invitation of Auction Holdings Commodity Exchange for its inauguration. Both the Exchanges signed an agreement in the programmme for bilateral co-ordination, welfare and mutual knowledge sharing. Shrestha from Nepal Derivative Exchange Ltd and RD Matwi from Auction Holdings Commodity Exchange signed the agreement. The visit is expected to strengthen the mutual relationship between both the companies in the future. </div> <div> </div> <div> </div> <div> <strong><img alt="Century ATM" src="/userfiles/images/century(1).jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 22px;" />Century ATM at Koteshwor </strong></div> <div> Century Commercial Bank on Wednesday, July 30 installed its 17th ATM terminal at Koteshwor. </div> <div> </div> <div> </div> <div> <strong><img alt="Janta Bank" src="/userfiles/images/janta(1).jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 27px;" />Janta Bank’s Three ATMs </strong></div> <div> Janta Bank on Tuesday, July 29 installed three ATM terminals at Suryabinayak of Bhaktapur, Nepalgunj and Inarwa. </div> <div> </div> <div> </div> <div> <strong><img alt="xpressmoney" src="/userfiles/images/express.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 50px;" />Mega and Xpress Money Tie </strong></div> <div> An agreement was signed between Mega Bank Nepal Limited and Xpress Money Service for the remittance business on August 1. </div> <div> </div> <div> </div> <div> <strong><img alt="PrabhuMOney transfer" src="/userfiles/images/prabhu(1).jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 35px;" />Prabhu Money Transfer Partners with Century Bank </strong></div> <div> An agreement was signed between Prabhu Money Transfer and Century Commercial Bank for the remittance business. The remittance agreement was jointly signed by Rameshwor Sapkota, General Manager of Prabhu Money Transfer and Ganesh Kumar Shrestha, CEO of Century Commercial Bank.</div> <div> </div>', 'published' => true, 'created' => '2013-08-05', 'modified' => '0000-00-00', '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' => 'Himalayan Bank Ltd (HBL) and American Express launched Himalayan Bank American Express Gold Credit Card on August 1.', 'sortorder' => '1439', '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' => '1526', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (29 July - 4 August 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>EIC Employee on Strike </strong></div> <div> <img alt=" Everest Insurance Company (EIC)" src="/userfiles/images/eic.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 49px;" />Employees of Everest Insurance Company (EIC) are on strike from Wednesday (July 24). After Insurance Board has partially banned on EIC to handle fire insurance business, it has not been capable to renew its license. So, stating that the Insurance Board and the management team of company have not taken any steps to change the situation, the employees of the EIC have been on strike daily from July 24. </div> <div> </div> <div> </div> <div> <strong>NB Bank Awarded for Best Financial Report </strong></div> <div> <img alt="Nepal Bangladesh Bank" src="/userfiles/images/nb%20bank.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 35px;" />Nepal Bangladesh Bank has bagged 1st runner up award for best financial report. The annual award is given by Nepal Chartered Accountants’ Association. The financial reports are evaluated as per the rules set by South Asian Federation of Accountants and the reports that are adjudged best in the country are then sent to compete at the South Asian level. NB Bank made a remarkable improvement compared to last fiscal year. </div> <div> </div> <div> </div> <div> <strong>Laxmi at Waling and Kohalpur </strong></div> <div> <img alt="Laxmi Bank" src="/userfiles/images/laxmi.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 80px; height: 40px;" />Laxmi Bank has opened branches at Waling, Syanga and Kohalpur, Banke. After these, the number of branches of bank reached 33. </div> <div> </div> <div> </div> <div> </div> <div> <strong>Sanima at Hetauda </strong></div> <div> <img alt="Sanima Bank Limited (Sanima) " src="/userfiles/images/sanima%20bank.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 13px;" />Sanima Bank Limited (Sanima) has opened its 25th branch at Hetauda. The branche was jointly inaugurated by the Chairman, Jiba Lamichhane and Brand Ambassador of Sanima, Hari Bansha Acharya & Madan Krishna Shrestha (MAHA). </div> <div> </div> <div> </div> <div> <strong>Citizens’ ATM at Bhat-Bhatani </strong></div> <div> <img alt="" src="/userfiles/images/citizens.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 25px;" />Citizens Bank International on Wednesday, July 24 installed its 36th ATM terminal at Bhat- Bhateni Supermarket, Bhat-Bhateni. </div> <div> </div> <div> </div> <div> <strong>NIBL Debentures Allotted </strong></div> <div> <img alt="Nepal Investment Bank Limited (NIBL)" src="/userfiles/images/nibl.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 24px;" />Nepal Investment Bank Limited (NIBL) has allotted Rs.500 million Redeemable “8% NIB Debenture 2077” to general public on (6th Shrawan, 2070), It is refunding money to the non-allottee investors from 11th Shrawan, 2070. </div> <div> </div> <div> </div> <div> <strong>Manaslu IPO </strong></div> <div> <img alt="" src="/userfiles/images/manaslu.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 33px;" />Manaslu Bikas Bank Ltd is going for initial public offering (IPO). The bank is going to issue 3,60,000 ordinary shares to the public at par value of Rs 100. </div> <div> </div> <div> </div> <div> <strong>Grade 4 for Mahakali IPO </strong></div> <div> <img alt="" src="/userfiles/images/icra.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 46px;" /><img alt="Mahakali Bikas Bank Limited" src="/userfiles/images/mahakali.jpg" style="float: left; margin: 0px 10px 0px 0px;height: 22px; width: 100px;" />ICRA Nepal Limited has assigned a [ICRANP] IPO Grade 4 (Pronounced as ICRA NP IPO Grade Four) Rating to the Rs. 80 million Right Issue of Mahakali Bikas Bank Limited. Instruments with this rating are considered to have below-average fundamentals.</div> <div> </div>', 'published' => true, 'created' => '2013-07-29', 'modified' => '2013-07-29', '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' => 'Employees of Everest Insurance Company (EIC) are on strike from Wednesday (July 24).', 'sortorder' => '1387', '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' => '1478', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (22-28 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Special Meeting Okays RBB Share Conversion </strong></span></div> <div> The special general meeting (SGM) of Rastriya Banijya Bank (RBB) on Sunday, July 14 approved the conversion of 8,735,700 units of preference shares worth Rs 873.57 million into ordinary shares. With the conversion, RBB’s paid-up capital has reached Rs 8.58 billion. </div> <div> </div> <div> The SGM approved the capital restructuring through an amendment to the bank’s MoA and AoA as proposed by RBB Chairman Narahari Dhakal. After this, the bank’s capital adequacy ratio stands at 3 percent for the first time as of mid-July, which is still far below the minimum requirement of 10% set by Nepal Rastra Bank. The bank had planned to increase its core capital to Rs 8.5 billion in its capital plan which has now been attained. The government had earlier injected Rs 4.32 billion in the bank to increase its paid-up capital. </div> <div> </div> <div> The bank had received the Nepal Rastra Bank (NRB) approval for its three-year capital plan in mid-April last year. However, the bank’s proposed Rs 12.5 billion capital plan will not be enough to meet capital adequacy which require Rs 14 billion. Earlier, the government had directed RBB and NIDC Development Bank to merge in order to manage the necessary capital. However, the merger has not taken place particularly due to NIDC’s reluctance. </div> <div> </div> <div> Announcing the government budget for the fiscal year 2013-14, the Finance Minister has announced a plan to upgrade NIDC Development bank to an Infrastructure Development Bank. </div> <div> </div> <div> <span style="font-size:14px;"><strong>NLG Shares Listed </strong></span></div> <div> NLG Insurance Company Limited and Nepse signed an agreement on July 9 to list 2,250,000 units of ordinary shares of NLG. Trading in those shares in the secondary market started on 16 July 2013. These shares were issued as IPO in 29 March 2013.</div> <div> </div>', 'published' => true, 'created' => '2013-07-23', 'modified' => '2013-07-23', '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' => 'The special general meeting (SGM) of Rastriya Banijya Bank (RBB) on Sunday, July 14 approved the conversion of 8,735,700 units of preference shares worth Rs 873.57 million into ordinary shares.', 'sortorder' => '1339', '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' => '1427', 'article_category_id' => '108', 'title' => 'News In Brief (15 - 21 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>Ahluwalia new CEO of Everest Bank</strong><br /> <br /> AK Ahluwalia has been appointed the CEO of Everest Bank. According to a press statement, Ahluwalia assumed office on July 1. “Ahluwalia has more than 32 years of banking experience at Punjab National Bank India and has held the post of deputy general manager in parent organization,” the statement said. Ahluwalia has key expertise in credit and recovery.<br /> <br /> <strong><img alt="nbdbank" src="/userfiles/images/NMB.jpg" style="width: 220px; height: 73px; margin: 10px;" /><br /> <br /> NMB Sulav Investment Fund-I Coming</strong><br /> <br /> NMB Bank is bringing ‘NMB Sulav Investment Fund-I’ in first quarter of the coming Nepali fiscal year. The Rs 60 million fund is closed-end are with five years maturity period. The bank is going to invest 60 percent of the fund on shares and 40 percent on debentures. The unit holders are promised 12 percent annual return. NMB Capital Limited has been appointed as the issue manager of the fund.<br /> <br /> <br /> <br /> <img alt="banijya" src="/userfiles/images/banijya.jpg" style="width: 203px; height: 78px; margin: 10px;" /><br /> <strong>RBB Dullu Branch Reinstated</strong><br /> <br /> Rastriya Banijya Bank reinstated its Dullu Branch on Tuesday (July 9). The branch was inaugurated by Nepalgunj Regional Office Chief Bir Banahur Chand.<br /> <br /> <br /> <br /> <img alt="ndep" src="/userfiles/images/NDEP.jpg" style="width: 128px; height: 112px; margin: 10px;" /><br /> <br /> <img alt="hama" src="/userfiles/images/HAMA.jpg" style="margin: 10px; width: 197px; height: 72px;" /><br /> <strong>NDEP Hama Merger Cancelled</strong><br /> <br /> The merger process between Hama Merchant and Finance Ltd and NDEP Development Bank has been cancelled. The reason for the decision is to open the path to merge both of these BFIs with Prabhu Finance, says the sources. To further strengthen capital position and consolidate its presence on the market, Prabhu Finance has simultaneously initiated merger talks with NDEP Development Bank and Hama Merchant Bank.<br /> <br /> <img alt="Hama Merchant Finance" src="/userfiles/images/NepalBank.jpg" style="width: 147px; height: 119px; margin: 10px;" /><br /> <br /> <strong>NBL Right Shares Undersubscribed</strong><br /> <br /> The rights shares issued by Nepal Bank has fallen 8 percent short of being fully subscribed as the money collected by the end of closing day was only 92 percent of the total issue. As per a press statement, the bank will sell the remaining shares in a manner prescribed in the law. The bank got Rs 1.40 billion worth of applications for the rights shares from the government alone, which has 38.6 percent stake in the bank. Likewise, it collected Rs 1.93 billion from other shareholders who own 61.4 percent stake in the bank. The total collection from this rights issue stands at Rs 3.33 billion.<br /> <br /> </p>', 'published' => true, 'created' => '2013-07-15', 'modified' => '0000-00-00', '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' => 'AK Ahluwalia has been appointed the CEO of Everest Bank. According to a press statement, Ahluwalia assumed office on July 1. “Ahluwalia has more than 32 years of banking experience at Punjab National Bank India and has held the post of deputy general manager in parent organization,” the statement said. Ahluwalia has key expertise in credit and recovery.', 'sortorder' => '1289', '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' => '1377', 'article_category_id' => '108', 'title' => 'Bhargav In Basgadi', 'sub_title' => '', 'summary' => null, 'content' => '<p> <span style="font-size: 12px;">Bhargav Bikas Bank has opened its branch at Basgadi, Bardiya.</span></p> <div> </div>', 'published' => true, 'created' => '2013-07-09', 'modified' => '0000-00-00', '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' => 'Bhargav Bikas Bank has opened its branch at Basgadi, Bardiya.', 'sortorder' => '1239', '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' => '1376', 'article_category_id' => '108', 'title' => 'Pathibhara And Srijana In Merger', 'sub_title' => '', 'summary' => null, 'content' => '<p> <span style="font-size: 12px;">Pathibhara Bikas Bank and Srijana Finance have signed an agreement for merger. After the merger the name of the new entity will be Pathibhara Bikas Bank with head office and corporate office at Biratnagar.</span></p>', 'published' => true, 'created' => '2013-07-09', 'modified' => '0000-00-00', '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' => 'Pathibhara Bikas Bank and Srijana Finance have signed an agreement for merger.', 'sortorder' => '1238', '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' => '1375', 'article_category_id' => '108', 'title' => 'KBL Extension Counter At RBS', 'sub_title' => '', 'summary' => null, 'content' => '<p> <span style="font-size: 12px;">Kumari Bank Limited (KBL) and Rastriya Beema Sansthan (RBS) have signed an agreement whereby the bank will operate extension counter in the premises of RBS effective from 30 June 2013. The agreement was signed by Uday K. Upadhyay, Acting CEO of Kumari Bank Limited and Ram Bahadur Khadka, Administrator of RBS. KBL is providing banking services from 30 points of representations.</span></p>', 'published' => true, 'created' => '2013-07-09', 'modified' => '0000-00-00', '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' => 'Kumari Bank Limited (KBL) and Rastriya Beema Sansthan (RBS) have signed an agreement ..', 'sortorder' => '1237', '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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Bhushan Shamsher JB Rana, CEO of the Bank, and NCM Merchant Banking Ltd Managing Director Bijay Lal Shrestha, have signed an agreement on this regard. Yeti Development Bank has begun operation after a merger between Manakamana Development Bank Ltd, Valley Finance Ltd and Yeti Finance Ltd.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Prabhu’s Service Center in Nuwakot</strong></span></div> <div> Prabhu Money Transfer Company has started its service center in Nuwakot. Prabhu has made the Bidur-based Panchakanya Multipurpose Cooperative its service center. Panchakanya Cooperative has been long working as an agent of Prabhu Money Transfer. Director of Prabhu Management inaugurated the newly established service center last Monday. Though the company has seven service centers in Kathmandu, it established its first service center in Nuwakot outside the Kathmandu Valley. The company has said that the establishment of the service center was a part of its campaign to extend remittance services in remote parts of the country.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Sansar Remit to Bring Remittance from Japan</strong></span></div> <div> Sansar Remit Pvt Ltd is preparing to bring remittance funds from Japan. According to the company’s Chairperson Pradip Shrestha, it will begin service after the Dashain festival with some new schemes. It is currently providing remittance services from Portugal, Spain and Italy. After Japan, the company will also start its service from America, Australia and other countries.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Dr Bhattarai appointed Janata Bank’s CEO</strong></span></div> <div> Dr Ramesh Kumar Bhattarai has been appointed as the Chief Executive Officer (CEO) of the Janata Bank Nepal Ltd. The meeting of the Board of Directors of the Janata Bank held on September 24 decided to appoint Dr Bhattarai as the CEO of the Bank. According to the press release of the Janata Bank, Dr Bhattarai will assume the post of the CEO from October 9. Dr Bhattarai, a retired administrator of the Employees Provident Fund, has an experience of more than 10 years on working with various commercial banks and public enterprises. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Jyoti and City Express in Agreement</strong></span></div> <div> Jyoti Development Bank Ltd and City Express Money Transfer have struck an agreement on remittance services. The bank’s CEO Govinda Prashad Upadhyaya and the Managing Director of City Express Money Transfer, Chandra Tandon, signed the agreement last Tuesday. Remittance services from this agreement will be available from all branch offices of the Jyoti Development Bank.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Nabil’s Online Account Opening Facility</strong></span></div> <div> Nabil Bank has initiated a service to open bank accounts through the online system. The bank has said that the facility was initiated to save the time of its customers and increase banking access among people. “We have begun this service as per our commitment to provide automated banking services,” Chief Executive Officer of the Bank, Anil Gyawali, said. The bank has claimed that this service is the first of its kind in Nepal. According to the bank, people can open their account by submitting a request online through the bank´s website: www.nabilbank.com.</div>', 'published' => true, 'created' => '2013-10-07', 'modified' => '2013-10-08', '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' => 'NCM Merchant Banking has been appointed as the share registrar of Yeti Development Bank Ltd. Bhushan Shamsher JB Rana, CEO of the Bank, and NCM Merchant Banking Ltd Managing Director Bijay Lal Shrestha, have signed an agreement on this regard. Yeti Development Bank has begun operation after a merger between Manakamana Development Bank Ltd, Valley Finance Ltd and Yeti Finance Ltd.', 'sortorder' => '1788', '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) 1 => array( 'Article' => array( 'id' => '1901', 'article_category_id' => '108', 'title' => 'Money Matter News In Brief (30 September - 3 October 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Vibor, Reliable Remit Ink Agreement</strong></span></div> <div> Reliable Remit Service, operated by Reliable Remit Ltd, has inked a deal recently with Vibor Bank following which customers can now send and receive their money from six branches of the Vibor bank and 1600 agents of Reliable Remit. CEO of Reliance Finance, Narayan Bahadur Lohani and CEO of Vibor Bank, Narayan Bahadur Lohani signed an agreement of partnership last week.</div> <div> </div> <div> <span style="font-size:14px;"><strong>21pc Dividend of Kamana </strong></span></div> <div> Kamana Development Bank has said it will distribute a total of 21 percent dividend on the net profit of Fiscal Year 2012-13. According to the press release of the bank, the meeting of Board of Directors (BoD) held last Monday (September 23) decided to distribute 15 per cent bonus and 6 per cent cash dividend. Umesh Kumar Acharya, CEO of the Bank, informed that the dividend will be distributed following the approval of Nepal Rastra Bank and endorsement from the Annual General Meeting of the company. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Siddhartha Brings Visa Prepaid Travel Card</strong></span></div> <div> Siddhartha Bank will distribute free Visa Prepaid Travel Card to its customers as part of its ‘Utsav Scheme’. The Bank has informed that the customers can get such cards from any of its branches upon filling up a form by November 30. The press release of the bank on the launch of a new service of Card states that the customers can make transactions through Visa ATM and POS machine from anywhere in the world.</div> <div> </div> <div> <span style="font-size:14px;"><strong>City, NCC Sign Agreement</strong></span></div> <div> City Express Money Transfer and NCC Bank Ltd have signed an agreement on providing the remittance service. Under the agreement, money remitted from abroad can be collected from any branch of the NCC Bank. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Grand’s ‘Special Saving Account’</strong></span></div> <div> Grand Bank Nepal Ltd has started ‘Grand Special Saving Account’ on the occasion of Dashain and Tihar festivals. The minimum balance for the account would be of Rs 100,000. The Bank has said that it will provide 7 per cent per annum interest rate on daily balance. According to the press release of the bank, it will provide 50 per cent discount on charge for getting a Draft and Balance Certificate. </div> <div> </div> <div> <span style="font-size:14px;"><strong>United Hands Over Insurance Claim Payment</strong></span></div> <div> United Insurance Company Ltd has made the highest payment of insurance so far. The Company has handed a payment worth Rs 589 million to the insured party representative Narottam Kumar Mehta from the Chaudhary Group amid a programme held in the capital last Tuesday. According to the CEO of the insurance company, Bir Bikram Raymajhi, the payment was made as a compensation of the loss that the insured company incurred due to fire accidents in the company’s Satungal based CG Impex Pvt Ltd, EOL Pvtd Ltd and CG electronics Pvt Ltd last year. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Vibor Capital Appointed as Mission Dev’s Registrar </strong></span></div> <div> Mission Development Bank has appointed the Vibor Capital Ltd as its share registrar. Bank’s CEO Hari Prashad Ghimire and Vibor Capital’s CEO Shankar Kalikote has signed on the appointment letter to this effect. The Company’s shares were listed in the Nepal Stock Exchange recently.</div>', 'published' => true, 'created' => '2013-09-30', 'modified' => '2013-10-01', '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' => 'Reliable Remit Service, operated by Reliable Remit Ltd, has inked a deal recently with Vibor Bank following which customers can now send and receive their money from six branches of the Vibor bank and 1600 agents of Reliable Remit. CEO of Reliance Finance, Narayan Bahadur Lohani and CEO of Vibor Bank, Narayan Bahadur Lohani signed an agreement of partnership last week.', 'sortorder' => '1762', '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' => '1835', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (26 - 22 September 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>NRB Refutes Deadline Extension Reports</strong></span></div> <div> Nepal Rastra Bank (NRB) has clarified that it has not extended the deadline to meet the minimum required capital (paid-up capital) for banking and financial institutions (BFIs). NRB has ruled out extension of the deadline following a news report claiming that it had extended the deadline to meet the minimum required capital. “We have provisioned that the proposed bonus share distribution on Fiscal Year 2013-14 if approved by the NRB could be counted on the paid-up capital,” NRB spokesperson Bhaskarmani Gyawali said. Through the monetary policy, the NRB had directed those bank and financial institutions, who are yet to meet the minimum paid-up capital, to do so by the end of FY 2013-14. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Tinau’s Dividend Approved</strong></span></div> <div> Tinau Development Bank Ltd, headquartered at Butwal, got an approval from Nepal Rastra Bank to distribute a 12.69 per cent dividend including 12 per cent as bonus shares. The bank has collected Rs 1.53 billion deposit and extended a total of Rs 1.12 billion as loan during the last Fiscal Year. It has earned a Rs 23.3 million as profit and has issued capital of Rs 200 million and paid up capital of 115 million with eight branches in operation.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Everest Announces Book Closure Date</strong></span></div> <div> Everest Bank has announced the book closure for share trading from September 18 to October 10 for the upcoming Annual General Meeting (AGM). Releasing a communiqué last Wednesday, the bank stated that the 237th meeting of the Board of Directors (BoD) held on September 6 made such a decision. The details of the upcoming AGM will be made public laterby publishing a separate notice, the communiqué added.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Siddhartha Development’s ‘SDBL Auto Loan’</strong></span></div> <div> Siddhartha Development Bank Ltd has announced ‘SDBL Auto Loan’ scheme for the coming Dashain festival. According to the scheme, the loans will be on 11.99 per cent per annum interest rate to purchase new and reconditioned vehicles with 60 per cent discount on service charge. The other features of the scheme include loans up to 80 per cent of the vehicle cost, seven years of moratorium period and a fixed interest rate for a year.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Garima’s 25pc Dividend</strong></span></div> <div> Garima Development Bank Ltd will propose a 25 per cent dividend distribution at its Annual General Meeting (AGM). According to the bank, it is going to propose 20 per cent bonus shares and 5 per cent cash dividend. The bank has collected a total amount of Rs 3 billion deposit and floated Rs 2.43 billion as a loan until the end of Fiscal Year 2012-13. Chief Executive Officer Govinda Prashad Dhakal informed that the bank earned an operating profit of Rs 96.1 million in the FY2012-13. He further said that the bank is planning to issue rights shares next month. The bank says that its paid-up capital will reach 374 million after issuing rights share and distributing the dividends.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Kaski Finance’s 13pc Cash Dividend</strong></span></div> <div> Pokhara based Kaski Finance Ltd will distribute 13 per cent cash dividend to its shareholders. The dividend will be distributed after approval from the Annual General Meeting of the Company, said Chief Executive Officer (CEO) Toya Raj Adhikari.</div>', 'published' => true, 'created' => '2013-09-17', 'modified' => '0000-00-00', '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' => 'Nepal Rastra Bank (NRB) has clarified that it has not extended the deadline to meet the minimum required capital (paid-up capital) for banking and financial institutions (BFIs).', 'sortorder' => '1696', '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' => '1803', 'article_category_id' => '108', 'title' => 'Brief Money Matters', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><span style="font-size:14px;">NRB refutes deadline extension reports</span></strong></div> <div> Nepal Rastra Bank (NRB) clarified that it has not extended the deadline to meet the minimum required capital (paid-up capital) for banking and financial institutions (BFIs). NRB has ruled out extension of the deadline after there was news reporting that it had extended the deadline to meet the minimum required capital. “We have provisioned that the proposed bonus share distribution on Fiscal Year 2013-14 if approved by the NRB could be counted on the paid-up capital,” NRB spokesperson Bhaskarmani Gyawali said. Through the monetary policy, the NRB had directed those bank and financial institutions, who are yet to meet the minimum paid-up capital, to do so by the end of FY 2013-14. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Tinau’s dividend approved</strong></span></div> <div> Tinau Development Bank Ltd, headquartered at Butwal, got an approval from Nepal Rastra Bank to distribute a 12.69 per cent dividend. The bank is going to distribute the bonus from the profit of Fiscal Year 2012-13. The bank has collected Rs 1.53 billion deposit and extended a total of Rs 1.12 billion during the review period. It has earned a Rs 23.3 million profit and has issued capital of Rs 200 million and paid up capital of 115 million with eight branches in operation.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Everest Announces Book Closure Date</strong></span></div> <div> Everest Bank announced the book closure for share trading from September 18 to October 10 for the upcoming Annual General Meeting (AGM) of the bank. Releasing a communiqué last Wednesday, the bank stated that the 237th meeting of the Board of Directors (BoD) held on September 6 made such a decision. The details of AGM of 2012/13 will be made public by publishing the notice, the communiqué added.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Siddhartha Development’s ‘SDBL Auto Loan’</strong></span></div> <div> Siddhartha Development Bank Ltd started the ‘SDBL Auto Loan’ scheme on the occasion of Dashain. According to the scheme, it will extend loans on 11.99 per cent per annum interest rate to purchase new and reconditioned vehicles with 60 per cent discount on service charge. Likewise, other features of the scheme include loans of up to 80 per cent of the vehicle cost, seven years of moratorium period and unchangeable interest rate for a year, among others.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Garima’s 25 pc dividend</strong></span></div> <div> Garima Development Bank Ltd has said that it will propose a 25 per cent dividend distribution at its Annual General Meeting (AGM). According to the bank, it is going to propose 20 per cent bonus shares and 5 per cent cash dividend. The bank has collected a total amount of Rs 3 billion deposit and floated Rs 2.43 billion as a loan until the end of Fiscal Year 2012-13. Chief Executive Officer Govinda Prashad Dhakal informed that the bank earned an operating profit worth Rs 96.1 million in the FY2012-13. He further said that the bank is planning to issue rights shares next month. The bank has claimed that its issued and paid-up capital will reach 374 million after issuing rights share and distributing the dividends.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Kaski Finance to distribute 13 pc cash dividend</strong></span></div> <div> Pokhara based Kaski Finance has said that it will distribute 13 per cent cash dividend to its shareholders. The dividend will be distributed after the approval from the Annual General Assembly of the Finance and the decision of the 98th meeting of the Board of Directors. Chief Executive Officer (CEO) Toya Raj Adhikari said that the cash dividend is being distributed from the Finance’s profit of the Fiscal Year 2012-13.</div>', 'published' => true, 'created' => '2013-09-14', 'modified' => '0000-00-00', 'keywords' => 'Money Matters', 'description' => 'Nepal Rastra Bank (NRB) clarified that it has not extended the deadline to meet the minimum required capital (paid-up capital) for banking and financial institutions (BFIs).', 'sortorder' => '1664', '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' => '1796', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (9 -15 September 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><span style="font-size:14px;">Everest Bank’s Mobile ATM Facility</span></strong></div> <div> Everest Bank Limited began a mobile ATM facility. As per this facility, customers do not need to go to branch to get the banking services of the Everest Bank. The customers can get the payment from the designated bank representative. The Bank said that they have their designated representatives across the country. According to the press release of the bank, customers can also open their bank account from the designated representative. Everest Bank has introduced the concept of branchless banking service for the first time in Nepal.</div> <div> </div> <div> <strong><span style="font-size:14px;">Siddhartha Dev Bank’s ‘Home Loan Scheme’</span></strong></div> <div> Siddhartha Development Bank brought a ‘SDBL Home Loan’ scheme. The Bank said it has brought the scheme to fulfill the dream of every citizen to have their own home. The Bank informed that it will extend the maximum loan up to Rs 10 million to purchase home and apartment as well as to build the home. </div> <div> </div> <div> <strong><span style="font-size:14px;">Kailash Proposes 19 per cent Dividend </span></strong></div> <div> Kailash Development Bank Ltd said it will distribute 19 per cent dividend from the profit earned in the Fiscal Year 2012-13. The meeting of the Board of Directors (BOD) held last Wednesday decided to recommend distribution of 10 per cent bonus share and 9 per cent cash dividend. The Bank has collected Rs 6.26 billion deposit and extended a total of Rs 5.5 billion as loans in the Fiscal Year 2012-13. It informed that it has earned Rs 152.6 million net profit in the review period. </div> <div> </div> <div> <strong><span style="font-size:14px;">Discount on Infrastructure’s Locker </span></strong></div> <div> Infrastructure Development Bank Ltd said it will provide the free locker facility for a year to the customer opening bank account on ‘Naari Samriddi Khaata’. The Bank said it is providing this facility on the auspicious occasion of Hindu women’s festival Teej. The Bank, which merged with Swastik Merchant Finance Co Ltd last year, is providing banking services to its customers through 18 branches. </div> <div> </div> <div> <strong><span style="font-size:14px;">Laxmi Bank’s branch at Kohalpur</span></strong></div> <div> Laxmi Bank Ltd opened its branch at Kohalpur in Nepalgunj. The branch started its operation from last Monday. The number of the Bank’s branches has reached 33 with this newly opened branch. The Branch’s Manager Rima Malla informed that the branch will offer ATM, internet banking, mobile and other services. </div> <div> </div> <div> <strong><span style="font-size:14px;">Bhrikuti Development Enters 10th Year</span></strong></div> <div> Bhrikuti Development Bank Ltd headquartered in Butwal entered 10th year last Tuesday. The Bank had started its operation on September 3, 2004. The Bank’s paid up capital that started with Rs 10.5 million has now reached Rs 353.1. The Bank has expanded its services to 10 districts. The Bank said that the deposit amount of the bank has reached a total of Rs 4.30 billion and extended a total of Rs 3.21 billion as loans until the end of the Fiscal Year 2012-13. The bank has earned Rs 110 million profit. </div> <div> </div> <div> <strong><span style="font-size:14px;">Om Finance to Distribute 21 pc Dividend</span></strong></div> <div> Om Finance Ltd headquartered at Pokhara said it is planning to distribute 20 per cent bonus share and 1 per cent cash dividend. The Finance’s Annual General Meeting will decide to distribute a total of 21 per cent dividend after getting the approval from the Nepal Rastra Bank, according to the press statement released by the General Manager of Om Finance last Monday. Malla informed that the paid up capital of the Finance will be of worth Rs 325.7 million after distributing the dividend. </div>', 'published' => true, 'created' => '2013-09-09', 'modified' => '0000-00-00', '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 began a mobile ATM facility. As per this facility, customers do not need to go to branch to get the banking services of the Everest Bank.', 'sortorder' => '1657', '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' => '1748', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (2 - 8 September 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><span style="font-size:14px;">Everest Bank’s ‘Adopt a School’ Campaign</span></strong></div> <div> Everest Bank began its ‘Adopt a School Campaign’ by handing over school materials to the Janakpur-based Jagrup Shah, Rampukar Shah Higher Secondary School.The Bank’s Chief Executive Officer AK Ahluwalia handed over computers and other school materials to the Principal of the school amid a function last Tuesday.The Bank has said it will dedicate itself in improving the living standards of children through educational support. </div> <div> </div> <div> <strong><span style="font-size:14px;">Shangrila Bank Seven-years-old Now</span></strong></div> <div> Shangrila Development Bank Ltd headquartered at Pokhara turned seven on August 25. The bank organised a blood donation programme at its central office in Newroad, Pokhara to mark the seven years of its establishment. Officiating Chief Executive Officer Dinesh Thakali informed that 55 persons donated their blood during the programme held with the technical support of Nepal Red Cross Society, Pokhara. Thakali also said the bank has a deposit amount of Rs 3.12 billion and has extended a total of Rs 2.71 billion as loans until the end of the Fiscal Year 2012-13, earning Rs 133.6 million operating profit in the review period. </div> <div> </div> <div> <strong><span style="font-size:14px;">15 thousand Benefitted from BoK ‘Youth Save’</span></strong></div> <div> 15 thousand youths benefitted from ‘Youth Save’, a financial education programme jointly run by Bank of Kathmandu Ltd and Save The Children. The programme was launched with an aim to provide banking transactions and saving knowledge to youths. </div> <div> </div> <div> <strong><span style="font-size:14px;">Agricultural loan of Siddhartha Development</span></strong></div> <div> Siddhartha Development Bank Ltd started the SDBL agricultural loan last week. The bank has started this loan as it believes that development of agriculture can develop the country. The bank will float loans to farmers in animal farming, fishery, bee keeping, vegetable and fruit farming, agriculture based handicrafts businesses and purchasing of farming equipment, among others. </div> <div> </div> <div> <strong><span style="font-size:14px;">Global IME’s Branchless Banking Service</span></strong></div> <div> Global IME Bank Ltd extended its branchless service to Sukhipur and Kalyanpur VDCs of Siraha district. Deputy CEO Janak Sharma Poudyal inaugurated the service of the bank last Thursday. Certain banking services are provided through the designated agents in the branchless banking service. </div>', 'published' => true, 'created' => '2013-09-03', 'modified' => '0000-00-00', '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 began its ‘Adopt a School Campaign’ by handing over school materials to the Janakpur-based Jagrup Shah, Rampukar Shah Higher Secondary School.', 'sortorder' => '1609', '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' => '1663', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><span style="font-size:14px;">NRB Asked Capital Increment Plan</span></strong></div> <div> Nepal Rastra bank (NRB) has asked Banks and Financial Institutions (BFIs) to submit their plan to increase the paid-up capital as prescribed by NRB. The BFIs who have not increased their capital till mid-July 2013 to the minimum amount as prescribed, have to place the plan to NRB till Mid-Oct 2013. NRB issued such circular to all BFIs on August 11 (Sunday). As per this directive, commercial banks have to have a paid-up capital of Rs 2 billion and the national level development banks have to make it Rs 640 million. Similarly, the finance companies have to have a minimum of of Rs 200 million. </div> <div> </div> <div> </div> <div> <strong><span style="font-size:14px;">SEBON Inspects 30 Brokerage Companies</span></strong></div> <div> Securities Board of Nepal (SEBON) has inspected 30 brokerage companies after the complaint were filed against them. SEBON has inspected the detailed information regarding the buyers and sellers. Similarly, the on-site inspection also investigated matters related to anti-money laundering. The inspection has found that the brokers have been providing privilege to the larger investor than the smaller investors. Thus, they have been warned, not to repeat this behavior in future.</div> <div> </div> <div> </div> <div> <strong><span style="font-size:14px;">NBL Right Share Allotment </span></strong></div> <div> <img alt="Nepal Bank Limited (NBL)" src="/userfiles/images/nbl.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 81px;" />Nepal Bank Limited (NBL) has allotted 3,360,606 right shares to the shareholders. Out of this, 13,972,866 shares have been allotted to Government of Nepal and remaining 19,387,740 shares to the general public. This allotment is 92.17 percent of the right shares issued. The remaining unsubscribed right shares are to be auctioned.</div> <div> </div> <div> </div> <div> </div> <div> <strong><span style="font-size:14px;">EIC Resumes Operation</span></strong></div> <div> <img alt="Everest Insurance Company (EIC)" src="/userfiles/images/eic(1).jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 49px;" />Everest Insurance Company (EIC) resumed its operation from Sunday August 11 after an understanding between management team and agitation employees. Earlier, the Insurance Board had refused to renew the company’s licence as it had found embezzlement on payment of claim worth Rs 40 million to Himalayan Snax made by company.</div> <div> </div> <div> </div> <div> <strong><span style="font-size:14px;">Merger between Best and Samsara</span></strong></div> <div> The merger between Best Remit UK and Samsara Remit UK took place on Wednesday, 14 August. After the merger the new remittance company will operate in the name of ‘Best Samsara Remit’. </div> <div> Presidents of Best Holding Bhimkrishna Udas and Samsara Nepal UK Rajaram Giri signed the agreement for the merger. </div> <div> </div> <div> </div> <div> <strong><span style="font-size:14px;">Mega Distributes Certificate</span></strong></div> <div> <img alt="Mega Bank Nepal Ltd" src="/userfiles/images/mega.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 49px;" />Mega Bank Nepal Ltd had started distributing share certificates to the allotted shareholders from August 12. </div> <div> </div> <div> </div> <div> <strong><span style="font-size:14px;">Mega goes Branchless at Aargakachi</span></strong></div> <div> Mega Bank has started branchless banking services at two locations of Aargakachi. The two places are Hansapur and Khiliji of Aargakachi. </div> <div> </div> <div> </div> <div> <strong><span style="font-size:14px;">NIBL at Bharahathawa</span></strong></div> <div> <img alt="Nepal Investment Bank Ltd (NIBL) " src="/userfiles/images/nibl(1).jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 27px;" />Nepal Investment Bank Ltd (NIBL) has opened its 44th branch at Bharahathawa, Sarlahi. The branch was inaugurated by bank’s CEO Jyoti Prakash Pandey on August 15 (Thursday).</div> <div> </div> <div> </div> <div> <strong><span style="font-size:14px;">RMDC IPO Allotment</span></strong></div> <div> <img alt="" src="/userfiles/images/rmdc.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 50px; height: 50px;" />Rural Microfinance Development Center (RMDC) Ltd has allotted its IPO on Thursday August 15. Though RMDC had issued 1,560,000 unit of shares, it had got applications for a total of 17,429,240 units. </div> <div> </div> <div> </div> <div> </div> <div> <strong><span style="font-size:14px;">GBIME at Hetuada</span></strong></div> <div> <img alt="Global IME Bank" src="/userfiles/images/gbime.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 21px;" />Global IME Bank has opened its 71st branch at Hetuada. The branch was inagurated by NPBC President Kush Kumar Joshi on Friday, August 16.</div> <div> </div>', 'published' => true, 'created' => '2013-08-19', 'modified' => '2013-08-20', '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' => 'Nepal Bank Limited (NBL) has allotted 3,360,606 right shares to the shareholders.', 'sortorder' => '1524', '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' => '1630', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (12 - 18 August 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><span style="font-size:14px;">S<img alt="Sanima Bank Ltd" src="/userfiles/images/SANIMA.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 13px;" />anima at Ghorai & Dhangadhi </span></strong></div> <div> Sanima Bank Ltd (Sanima) has opened its 26th & 27th branch at Ghorahi (Dang) and Dhangadhi. The Ghorahi branch was jointly inaugurated by Mahesh Ghimire, Director, Sanima Bank, and Hari Bansha Acharya, renowned artist and social activist of Nepal. Similarly, the Dhangadi branch was jointly inaugurated by Bharat Kumar Pokharel, Director, Sanima Bank, and Hari Bansha Acharya. </div> <div> </div> <div> <strong><span style="font-size:14px;"><img alt="Shine Resunga Development (SRD) Bank " src="/userfiles/images/SRD.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 19px;" />SRD New Share Certificate Distribution </span></strong></div> <div> Shine Resunga Development (SRD) Bank Limited is distributing new share certificates to the shareholders of Shine Development Bank Limited and Resunga Bikas Bank Limited which merged to form SRD from August 2. </div> <div> </div> <div> <strong><span style="font-size:14px;"><img alt="Sunrise Bank" src="/userfiles/images/SUNRISE.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 24px;" /><img alt="CDSC" src="/userfiles/images/CDSC.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 32px; height: 24px;" />Sunrise Bank’s Shares Dematerialized </span></strong></div> <div> Sunrise Bank has joined Central Depository System and Clearing (CDSC) to get its shares dematerialized on August 6. CDSC signed an agreement with Sunrise Bank to dematerialize the company’s 2,0150,000 units of shares. As per the agreement, the bank ISIN (International Securities Identification Number) code is NPE014A00008. </div> <div> </div> <div> <strong><span style="font-size:14px;"><img alt="Himalayan Bank Ltd (HBL)" src="/userfiles/images/HBL.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 25px;" />HBL at Betrawati and Birtamod </span></strong></div> <div> Prachanda Bahadur Shrestha, member of management team of Himalayan Bank Ltd (HBL) inaugurated bank’s Betrawati Branch amidst a function on August 4. Similarly, Manoj Bahadur Shrestha, Chairman of HBL inaugurated bank’s Birtamod Branch at Birtamod,amidst a function on August 7. With this, the bank now has 41 branches. </div> <div> </div> <div> <strong><span style="font-size:14px;"><img alt="Mahakali Bikas Bank Ltd" src="/userfiles/images/MAHAKALI.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 22px;" />Mahakali at Belauri </span></strong></div> <div> Mahakali Bikas Bank Ltd has opened its 4th branch at Belauri, Kanchanpur. The branch was inaugurated by Dr Gunakar Bhatta, Chief Manager, NRB, Dhangadhi branch. </div> <div> </div> <div> <strong><span style="font-size:14px;"><img alt="Sindhu Bikas Bank Ltd " src="/userfiles/images/SINDHU.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 29px;" />Sindhu at Dolalaghat </span></strong></div> <div> Sindhu Bikas Bank Ltd has opened its 5th branch at Dolalghat. The branch was inaugurated by chairman of bank, Rajendra Kumar Shrestha. </div> <div> </div> <div> <strong><span style="font-size:14px;"><img alt="NMB Bank Ltd" src="/userfiles/images/NMB(1).jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 33px;" />NMB at Rasuwa </span></strong></div> <div> NMB Bank Ltd has opened its 25th branch at Rasuwa. The branch was inaugurated by CDO of Rasuwa District Basudev Ghimire. </div> <div> </div> <div> <strong><span style="font-size:14px;"><img alt="Civil Bank" src="/userfiles/images/CIVIL.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 100px; height: 27px;" /><img alt="City Express" src="/userfiles/images/CITYEXPRESS.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 93px; height: 27px;" />Civil and City Tied-up </span></strong></div> <div> Civil Bank has signed agreement with City Express Money Transfer to make remittance payment through the bank´s outlets in different parts of the country. Chandra Tandan, MD of City Express and Kishore Maharjan, CEO of Civil Bank, signed the agreement. </div> <div> </div> <div> <strong><span style="font-size:14px;"><img alt="Siddhartha Development Bank (SDBL)" src="/userfiles/images/SDBL.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 29px;" /><img alt=" Prabhu Money Transfer " src="/userfiles/images/PRABHU.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 81px; height: 29px;" />SDBL and Prabhu Tied-up </span></strong></div> <div> Siddhartha Development Bank (SDBL) has signed agreement with Prabhu Money Transfer to make remittance payment through the bank´s 18 branches spread across Nepal. Mahesh Sharma Dhakal, CEO of SDBL and Rameshwor Sapkota, DGM of Prabhu Money Transfer, signed the agreement. </div> <div> </div> <div> <strong><span style="font-size:14px;"><img alt="Kriti Capital & Investments Ltd." src="/userfiles/images/KRITI.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 25px;" />Kriti Gets PMS License </span></strong></div> <div> Securities Board of Nepal (Sebon) has issued a Portfolio Management Service (PMS) license to Kriti Capital & Investments Ltd. Kriti is the 12th merchant banker to obtain a PMS license under Merchant Banking Regulations, 2008. </div> <div> </div> <div> <strong><span style="font-size:14px;"><img alt="Sanima Mai Hydropower Limited (SMHL) " src="/userfiles/images/SMHL.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 50px;" />SMHL Gets Grade 3 for its IPO </span></strong></div> <div> The upcoming IPO of Sanima Mai Hydropower Limited (SMHL) has received Grade 3 rating from ICRA Nepal, indicating the company’s average fundamentals. SMHL has proposed to float an IPO of 2,110,000 equity shares of face value Rs 100 each.</div> <div> </div>', 'published' => true, 'created' => '2013-08-13', 'modified' => '0000-00-00', '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' => 'Sanima Bank Ltd (Sanima) has opened its 26th & 27th branch at Ghorahi (Dang) and Dhangadhi.', 'sortorder' => '1491', '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' => '1578', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (5-11 August 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><img alt="HBL Launches American Express" src="/userfiles/images/hbl.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 150px; height: 71px;" />HBL Launches American Express Gold Credit Card </strong></div> <div> Himalayan Bank Ltd (HBL) and American Express launched Himalayan Bank American Express Gold Credit Card on August 1. The card will be accepted at more than 900 HBL POS terminals and 76 ATMs within Nepal. The card is of two types namely domestic and international. The domestic card members can get up to 20% saving on dining and up to 15% on shopping and hotels and spa. They can also enjoy privileged access to world-class golf facilities in Nepal and complimentary access to Radisson Lounge at TIA and Altitude Lounge in domestic airports of Delhi and Mumbai. Similarly, international card members can get complimentary membership to the Priority Pass Program that gives access to 600 VIP airport lounges around the world. They will also enjoy great savings and discounts on shopping, dining and travel. </div> <div> </div> <div> </div> <div> <strong><img alt="Everest Bank" src="/userfiles/images/ebl.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 150px; height: 38px;" />EBL Profit Up 34.14 Percent </strong></div> <div> The operating profit of the Everest Bank for the financial year ended 15th July, 2013 has increased by 34.14 percent (Rs. 240.17 crores) compared to the previous financial year (Rs.179.04 crores). The figures are based on the Provisional Account as presented by the Management of the Bank to the Board. The Board noted with satisfaction the Bank has now joined the league of the largest banks in the country with total business in excess of Rs. 10,000 Crores. The NPA has come down to 0.62percent from 0.84percent last year. </div> <div> </div> <div> </div> <div> <strong><img alt="Nepal Derivative Exchange Limited" src="/userfiles/images/ndex.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 150px; height: 101px;" />NDEX Signs Agreement with Auction Holdings</strong></div> <div> Managing Director of Nepal Derivative Exchange Limited Bishwojan Thapa Shrestha had left for Malawi, Africa last week on invitation of Auction Holdings Commodity Exchange for its inauguration. Both the Exchanges signed an agreement in the programmme for bilateral co-ordination, welfare and mutual knowledge sharing. Shrestha from Nepal Derivative Exchange Ltd and RD Matwi from Auction Holdings Commodity Exchange signed the agreement. The visit is expected to strengthen the mutual relationship between both the companies in the future. </div> <div> </div> <div> </div> <div> <strong><img alt="Century ATM" src="/userfiles/images/century(1).jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 22px;" />Century ATM at Koteshwor </strong></div> <div> Century Commercial Bank on Wednesday, July 30 installed its 17th ATM terminal at Koteshwor. </div> <div> </div> <div> </div> <div> <strong><img alt="Janta Bank" src="/userfiles/images/janta(1).jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 27px;" />Janta Bank’s Three ATMs </strong></div> <div> Janta Bank on Tuesday, July 29 installed three ATM terminals at Suryabinayak of Bhaktapur, Nepalgunj and Inarwa. </div> <div> </div> <div> </div> <div> <strong><img alt="xpressmoney" src="/userfiles/images/express.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 50px;" />Mega and Xpress Money Tie </strong></div> <div> An agreement was signed between Mega Bank Nepal Limited and Xpress Money Service for the remittance business on August 1. </div> <div> </div> <div> </div> <div> <strong><img alt="PrabhuMOney transfer" src="/userfiles/images/prabhu(1).jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 35px;" />Prabhu Money Transfer Partners with Century Bank </strong></div> <div> An agreement was signed between Prabhu Money Transfer and Century Commercial Bank for the remittance business. The remittance agreement was jointly signed by Rameshwor Sapkota, General Manager of Prabhu Money Transfer and Ganesh Kumar Shrestha, CEO of Century Commercial Bank.</div> <div> </div>', 'published' => true, 'created' => '2013-08-05', 'modified' => '0000-00-00', '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' => 'Himalayan Bank Ltd (HBL) and American Express launched Himalayan Bank American Express Gold Credit Card on August 1.', 'sortorder' => '1439', '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' => '1526', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (29 July - 4 August 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>EIC Employee on Strike </strong></div> <div> <img alt=" Everest Insurance Company (EIC)" src="/userfiles/images/eic.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 49px;" />Employees of Everest Insurance Company (EIC) are on strike from Wednesday (July 24). After Insurance Board has partially banned on EIC to handle fire insurance business, it has not been capable to renew its license. So, stating that the Insurance Board and the management team of company have not taken any steps to change the situation, the employees of the EIC have been on strike daily from July 24. </div> <div> </div> <div> </div> <div> <strong>NB Bank Awarded for Best Financial Report </strong></div> <div> <img alt="Nepal Bangladesh Bank" src="/userfiles/images/nb%20bank.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 35px;" />Nepal Bangladesh Bank has bagged 1st runner up award for best financial report. The annual award is given by Nepal Chartered Accountants’ Association. The financial reports are evaluated as per the rules set by South Asian Federation of Accountants and the reports that are adjudged best in the country are then sent to compete at the South Asian level. NB Bank made a remarkable improvement compared to last fiscal year. </div> <div> </div> <div> </div> <div> <strong>Laxmi at Waling and Kohalpur </strong></div> <div> <img alt="Laxmi Bank" src="/userfiles/images/laxmi.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 80px; height: 40px;" />Laxmi Bank has opened branches at Waling, Syanga and Kohalpur, Banke. After these, the number of branches of bank reached 33. </div> <div> </div> <div> </div> <div> </div> <div> <strong>Sanima at Hetauda </strong></div> <div> <img alt="Sanima Bank Limited (Sanima) " src="/userfiles/images/sanima%20bank.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 13px;" />Sanima Bank Limited (Sanima) has opened its 25th branch at Hetauda. The branche was jointly inaugurated by the Chairman, Jiba Lamichhane and Brand Ambassador of Sanima, Hari Bansha Acharya & Madan Krishna Shrestha (MAHA). </div> <div> </div> <div> </div> <div> <strong>Citizens’ ATM at Bhat-Bhatani </strong></div> <div> <img alt="" src="/userfiles/images/citizens.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 25px;" />Citizens Bank International on Wednesday, July 24 installed its 36th ATM terminal at Bhat- Bhateni Supermarket, Bhat-Bhateni. </div> <div> </div> <div> </div> <div> <strong>NIBL Debentures Allotted </strong></div> <div> <img alt="Nepal Investment Bank Limited (NIBL)" src="/userfiles/images/nibl.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 24px;" />Nepal Investment Bank Limited (NIBL) has allotted Rs.500 million Redeemable “8% NIB Debenture 2077” to general public on (6th Shrawan, 2070), It is refunding money to the non-allottee investors from 11th Shrawan, 2070. </div> <div> </div> <div> </div> <div> <strong>Manaslu IPO </strong></div> <div> <img alt="" src="/userfiles/images/manaslu.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 33px;" />Manaslu Bikas Bank Ltd is going for initial public offering (IPO). The bank is going to issue 3,60,000 ordinary shares to the public at par value of Rs 100. </div> <div> </div> <div> </div> <div> <strong>Grade 4 for Mahakali IPO </strong></div> <div> <img alt="" src="/userfiles/images/icra.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 46px;" /><img alt="Mahakali Bikas Bank Limited" src="/userfiles/images/mahakali.jpg" style="float: left; margin: 0px 10px 0px 0px;height: 22px; width: 100px;" />ICRA Nepal Limited has assigned a [ICRANP] IPO Grade 4 (Pronounced as ICRA NP IPO Grade Four) Rating to the Rs. 80 million Right Issue of Mahakali Bikas Bank Limited. Instruments with this rating are considered to have below-average fundamentals.</div> <div> </div>', 'published' => true, 'created' => '2013-07-29', 'modified' => '2013-07-29', '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' => 'Employees of Everest Insurance Company (EIC) are on strike from Wednesday (July 24).', 'sortorder' => '1387', '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' => '1478', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (22-28 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Special Meeting Okays RBB Share Conversion </strong></span></div> <div> The special general meeting (SGM) of Rastriya Banijya Bank (RBB) on Sunday, July 14 approved the conversion of 8,735,700 units of preference shares worth Rs 873.57 million into ordinary shares. With the conversion, RBB’s paid-up capital has reached Rs 8.58 billion. </div> <div> </div> <div> The SGM approved the capital restructuring through an amendment to the bank’s MoA and AoA as proposed by RBB Chairman Narahari Dhakal. After this, the bank’s capital adequacy ratio stands at 3 percent for the first time as of mid-July, which is still far below the minimum requirement of 10% set by Nepal Rastra Bank. The bank had planned to increase its core capital to Rs 8.5 billion in its capital plan which has now been attained. The government had earlier injected Rs 4.32 billion in the bank to increase its paid-up capital. </div> <div> </div> <div> The bank had received the Nepal Rastra Bank (NRB) approval for its three-year capital plan in mid-April last year. However, the bank’s proposed Rs 12.5 billion capital plan will not be enough to meet capital adequacy which require Rs 14 billion. Earlier, the government had directed RBB and NIDC Development Bank to merge in order to manage the necessary capital. However, the merger has not taken place particularly due to NIDC’s reluctance. </div> <div> </div> <div> Announcing the government budget for the fiscal year 2013-14, the Finance Minister has announced a plan to upgrade NIDC Development bank to an Infrastructure Development Bank. </div> <div> </div> <div> <span style="font-size:14px;"><strong>NLG Shares Listed </strong></span></div> <div> NLG Insurance Company Limited and Nepse signed an agreement on July 9 to list 2,250,000 units of ordinary shares of NLG. Trading in those shares in the secondary market started on 16 July 2013. These shares were issued as IPO in 29 March 2013.</div> <div> </div>', 'published' => true, 'created' => '2013-07-23', 'modified' => '2013-07-23', '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' => 'The special general meeting (SGM) of Rastriya Banijya Bank (RBB) on Sunday, July 14 approved the conversion of 8,735,700 units of preference shares worth Rs 873.57 million into ordinary shares.', 'sortorder' => '1339', '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' => '1427', 'article_category_id' => '108', 'title' => 'News In Brief (15 - 21 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>Ahluwalia new CEO of Everest Bank</strong><br /> <br /> AK Ahluwalia has been appointed the CEO of Everest Bank. According to a press statement, Ahluwalia assumed office on July 1. “Ahluwalia has more than 32 years of banking experience at Punjab National Bank India and has held the post of deputy general manager in parent organization,” the statement said. Ahluwalia has key expertise in credit and recovery.<br /> <br /> <strong><img alt="nbdbank" src="/userfiles/images/NMB.jpg" style="width: 220px; height: 73px; margin: 10px;" /><br /> <br /> NMB Sulav Investment Fund-I Coming</strong><br /> <br /> NMB Bank is bringing ‘NMB Sulav Investment Fund-I’ in first quarter of the coming Nepali fiscal year. The Rs 60 million fund is closed-end are with five years maturity period. The bank is going to invest 60 percent of the fund on shares and 40 percent on debentures. The unit holders are promised 12 percent annual return. NMB Capital Limited has been appointed as the issue manager of the fund.<br /> <br /> <br /> <br /> <img alt="banijya" src="/userfiles/images/banijya.jpg" style="width: 203px; height: 78px; margin: 10px;" /><br /> <strong>RBB Dullu Branch Reinstated</strong><br /> <br /> Rastriya Banijya Bank reinstated its Dullu Branch on Tuesday (July 9). The branch was inaugurated by Nepalgunj Regional Office Chief Bir Banahur Chand.<br /> <br /> <br /> <br /> <img alt="ndep" src="/userfiles/images/NDEP.jpg" style="width: 128px; height: 112px; margin: 10px;" /><br /> <br /> <img alt="hama" src="/userfiles/images/HAMA.jpg" style="margin: 10px; width: 197px; height: 72px;" /><br /> <strong>NDEP Hama Merger Cancelled</strong><br /> <br /> The merger process between Hama Merchant and Finance Ltd and NDEP Development Bank has been cancelled. The reason for the decision is to open the path to merge both of these BFIs with Prabhu Finance, says the sources. To further strengthen capital position and consolidate its presence on the market, Prabhu Finance has simultaneously initiated merger talks with NDEP Development Bank and Hama Merchant Bank.<br /> <br /> <img alt="Hama Merchant Finance" src="/userfiles/images/NepalBank.jpg" style="width: 147px; height: 119px; margin: 10px;" /><br /> <br /> <strong>NBL Right Shares Undersubscribed</strong><br /> <br /> The rights shares issued by Nepal Bank has fallen 8 percent short of being fully subscribed as the money collected by the end of closing day was only 92 percent of the total issue. As per a press statement, the bank will sell the remaining shares in a manner prescribed in the law. The bank got Rs 1.40 billion worth of applications for the rights shares from the government alone, which has 38.6 percent stake in the bank. Likewise, it collected Rs 1.93 billion from other shareholders who own 61.4 percent stake in the bank. The total collection from this rights issue stands at Rs 3.33 billion.<br /> <br /> </p>', 'published' => true, 'created' => '2013-07-15', 'modified' => '0000-00-00', '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' => 'AK Ahluwalia has been appointed the CEO of Everest Bank. According to a press statement, Ahluwalia assumed office on July 1. “Ahluwalia has more than 32 years of banking experience at Punjab National Bank India and has held the post of deputy general manager in parent organization,” the statement said. Ahluwalia has key expertise in credit and recovery.', 'sortorder' => '1289', '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' => '1377', 'article_category_id' => '108', 'title' => 'Bhargav In Basgadi', 'sub_title' => '', 'summary' => null, 'content' => '<p> <span style="font-size: 12px;">Bhargav Bikas Bank has opened its branch at Basgadi, Bardiya.</span></p> <div> </div>', 'published' => true, 'created' => '2013-07-09', 'modified' => '0000-00-00', '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' => 'Bhargav Bikas Bank has opened its branch at Basgadi, Bardiya.', 'sortorder' => '1239', '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' => '1376', 'article_category_id' => '108', 'title' => 'Pathibhara And Srijana In Merger', 'sub_title' => '', 'summary' => null, 'content' => '<p> <span style="font-size: 12px;">Pathibhara Bikas Bank and Srijana Finance have signed an agreement for merger. After the merger the name of the new entity will be Pathibhara Bikas Bank with head office and corporate office at Biratnagar.</span></p>', 'published' => true, 'created' => '2013-07-09', 'modified' => '0000-00-00', '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' => 'Pathibhara Bikas Bank and Srijana Finance have signed an agreement for merger.', 'sortorder' => '1238', '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' => '1375', 'article_category_id' => '108', 'title' => 'KBL Extension Counter At RBS', 'sub_title' => '', 'summary' => null, 'content' => '<p> <span style="font-size: 12px;">Kumari Bank Limited (KBL) and Rastriya Beema Sansthan (RBS) have signed an agreement whereby the bank will operate extension counter in the premises of RBS effective from 30 June 2013. The agreement was signed by Uday K. Upadhyay, Acting CEO of Kumari Bank Limited and Ram Bahadur Khadka, Administrator of RBS. 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Bhushan Shamsher JB Rana, CEO of the Bank, and NCM Merchant Banking Ltd Managing Director Bijay Lal Shrestha, have signed an agreement on this regard. Yeti Development Bank has begun operation after a merger between Manakamana Development Bank Ltd, Valley Finance Ltd and Yeti Finance Ltd.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Prabhu’s Service Center in Nuwakot</strong></span></div> <div> Prabhu Money Transfer Company has started its service center in Nuwakot. Prabhu has made the Bidur-based Panchakanya Multipurpose Cooperative its service center. Panchakanya Cooperative has been long working as an agent of Prabhu Money Transfer. Director of Prabhu Management inaugurated the newly established service center last Monday. Though the company has seven service centers in Kathmandu, it established its first service center in Nuwakot outside the Kathmandu Valley. The company has said that the establishment of the service center was a part of its campaign to extend remittance services in remote parts of the country.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Sansar Remit to Bring Remittance from Japan</strong></span></div> <div> Sansar Remit Pvt Ltd is preparing to bring remittance funds from Japan. According to the company’s Chairperson Pradip Shrestha, it will begin service after the Dashain festival with some new schemes. It is currently providing remittance services from Portugal, Spain and Italy. After Japan, the company will also start its service from America, Australia and other countries.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Dr Bhattarai appointed Janata Bank’s CEO</strong></span></div> <div> Dr Ramesh Kumar Bhattarai has been appointed as the Chief Executive Officer (CEO) of the Janata Bank Nepal Ltd. The meeting of the Board of Directors of the Janata Bank held on September 24 decided to appoint Dr Bhattarai as the CEO of the Bank. According to the press release of the Janata Bank, Dr Bhattarai will assume the post of the CEO from October 9. Dr Bhattarai, a retired administrator of the Employees Provident Fund, has an experience of more than 10 years on working with various commercial banks and public enterprises. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Jyoti and City Express in Agreement</strong></span></div> <div> Jyoti Development Bank Ltd and City Express Money Transfer have struck an agreement on remittance services. The bank’s CEO Govinda Prashad Upadhyaya and the Managing Director of City Express Money Transfer, Chandra Tandon, signed the agreement last Tuesday. Remittance services from this agreement will be available from all branch offices of the Jyoti Development Bank.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Nabil’s Online Account Opening Facility</strong></span></div> <div> Nabil Bank has initiated a service to open bank accounts through the online system. The bank has said that the facility was initiated to save the time of its customers and increase banking access among people. “We have begun this service as per our commitment to provide automated banking services,” Chief Executive Officer of the Bank, Anil Gyawali, said. The bank has claimed that this service is the first of its kind in Nepal. According to the bank, people can open their account by submitting a request online through the bank´s website: www.nabilbank.com.</div>', 'published' => true, 'created' => '2013-10-07', 'modified' => '2013-10-08', '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' => 'NCM Merchant Banking has been appointed as the share registrar of Yeti Development Bank Ltd. Bhushan Shamsher JB Rana, CEO of the Bank, and NCM Merchant Banking Ltd Managing Director Bijay Lal Shrestha, have signed an agreement on this regard. Yeti Development Bank has begun operation after a merger between Manakamana Development Bank Ltd, Valley Finance Ltd and Yeti Finance Ltd.', 'sortorder' => '1788', '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) 1 => array( 'Article' => array( 'id' => '1901', 'article_category_id' => '108', 'title' => 'Money Matter News In Brief (30 September - 3 October 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Vibor, Reliable Remit Ink Agreement</strong></span></div> <div> Reliable Remit Service, operated by Reliable Remit Ltd, has inked a deal recently with Vibor Bank following which customers can now send and receive their money from six branches of the Vibor bank and 1600 agents of Reliable Remit. CEO of Reliance Finance, Narayan Bahadur Lohani and CEO of Vibor Bank, Narayan Bahadur Lohani signed an agreement of partnership last week.</div> <div> </div> <div> <span style="font-size:14px;"><strong>21pc Dividend of Kamana </strong></span></div> <div> Kamana Development Bank has said it will distribute a total of 21 percent dividend on the net profit of Fiscal Year 2012-13. According to the press release of the bank, the meeting of Board of Directors (BoD) held last Monday (September 23) decided to distribute 15 per cent bonus and 6 per cent cash dividend. Umesh Kumar Acharya, CEO of the Bank, informed that the dividend will be distributed following the approval of Nepal Rastra Bank and endorsement from the Annual General Meeting of the company. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Siddhartha Brings Visa Prepaid Travel Card</strong></span></div> <div> Siddhartha Bank will distribute free Visa Prepaid Travel Card to its customers as part of its ‘Utsav Scheme’. The Bank has informed that the customers can get such cards from any of its branches upon filling up a form by November 30. The press release of the bank on the launch of a new service of Card states that the customers can make transactions through Visa ATM and POS machine from anywhere in the world.</div> <div> </div> <div> <span style="font-size:14px;"><strong>City, NCC Sign Agreement</strong></span></div> <div> City Express Money Transfer and NCC Bank Ltd have signed an agreement on providing the remittance service. Under the agreement, money remitted from abroad can be collected from any branch of the NCC Bank. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Grand’s ‘Special Saving Account’</strong></span></div> <div> Grand Bank Nepal Ltd has started ‘Grand Special Saving Account’ on the occasion of Dashain and Tihar festivals. The minimum balance for the account would be of Rs 100,000. The Bank has said that it will provide 7 per cent per annum interest rate on daily balance. According to the press release of the bank, it will provide 50 per cent discount on charge for getting a Draft and Balance Certificate. </div> <div> </div> <div> <span style="font-size:14px;"><strong>United Hands Over Insurance Claim Payment</strong></span></div> <div> United Insurance Company Ltd has made the highest payment of insurance so far. The Company has handed a payment worth Rs 589 million to the insured party representative Narottam Kumar Mehta from the Chaudhary Group amid a programme held in the capital last Tuesday. According to the CEO of the insurance company, Bir Bikram Raymajhi, the payment was made as a compensation of the loss that the insured company incurred due to fire accidents in the company’s Satungal based CG Impex Pvt Ltd, EOL Pvtd Ltd and CG electronics Pvt Ltd last year. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Vibor Capital Appointed as Mission Dev’s Registrar </strong></span></div> <div> Mission Development Bank has appointed the Vibor Capital Ltd as its share registrar. Bank’s CEO Hari Prashad Ghimire and Vibor Capital’s CEO Shankar Kalikote has signed on the appointment letter to this effect. The Company’s shares were listed in the Nepal Stock Exchange recently.</div>', 'published' => true, 'created' => '2013-09-30', 'modified' => '2013-10-01', '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' => 'Reliable Remit Service, operated by Reliable Remit Ltd, has inked a deal recently with Vibor Bank following which customers can now send and receive their money from six branches of the Vibor bank and 1600 agents of Reliable Remit. CEO of Reliance Finance, Narayan Bahadur Lohani and CEO of Vibor Bank, Narayan Bahadur Lohani signed an agreement of partnership last week.', 'sortorder' => '1762', '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' => '1835', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (26 - 22 September 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>NRB Refutes Deadline Extension Reports</strong></span></div> <div> Nepal Rastra Bank (NRB) has clarified that it has not extended the deadline to meet the minimum required capital (paid-up capital) for banking and financial institutions (BFIs). NRB has ruled out extension of the deadline following a news report claiming that it had extended the deadline to meet the minimum required capital. “We have provisioned that the proposed bonus share distribution on Fiscal Year 2013-14 if approved by the NRB could be counted on the paid-up capital,” NRB spokesperson Bhaskarmani Gyawali said. Through the monetary policy, the NRB had directed those bank and financial institutions, who are yet to meet the minimum paid-up capital, to do so by the end of FY 2013-14. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Tinau’s Dividend Approved</strong></span></div> <div> Tinau Development Bank Ltd, headquartered at Butwal, got an approval from Nepal Rastra Bank to distribute a 12.69 per cent dividend including 12 per cent as bonus shares. The bank has collected Rs 1.53 billion deposit and extended a total of Rs 1.12 billion as loan during the last Fiscal Year. It has earned a Rs 23.3 million as profit and has issued capital of Rs 200 million and paid up capital of 115 million with eight branches in operation.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Everest Announces Book Closure Date</strong></span></div> <div> Everest Bank has announced the book closure for share trading from September 18 to October 10 for the upcoming Annual General Meeting (AGM). Releasing a communiqué last Wednesday, the bank stated that the 237th meeting of the Board of Directors (BoD) held on September 6 made such a decision. The details of the upcoming AGM will be made public laterby publishing a separate notice, the communiqué added.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Siddhartha Development’s ‘SDBL Auto Loan’</strong></span></div> <div> Siddhartha Development Bank Ltd has announced ‘SDBL Auto Loan’ scheme for the coming Dashain festival. According to the scheme, the loans will be on 11.99 per cent per annum interest rate to purchase new and reconditioned vehicles with 60 per cent discount on service charge. The other features of the scheme include loans up to 80 per cent of the vehicle cost, seven years of moratorium period and a fixed interest rate for a year.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Garima’s 25pc Dividend</strong></span></div> <div> Garima Development Bank Ltd will propose a 25 per cent dividend distribution at its Annual General Meeting (AGM). According to the bank, it is going to propose 20 per cent bonus shares and 5 per cent cash dividend. The bank has collected a total amount of Rs 3 billion deposit and floated Rs 2.43 billion as a loan until the end of Fiscal Year 2012-13. Chief Executive Officer Govinda Prashad Dhakal informed that the bank earned an operating profit of Rs 96.1 million in the FY2012-13. He further said that the bank is planning to issue rights shares next month. The bank says that its paid-up capital will reach 374 million after issuing rights share and distributing the dividends.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Kaski Finance’s 13pc Cash Dividend</strong></span></div> <div> Pokhara based Kaski Finance Ltd will distribute 13 per cent cash dividend to its shareholders. The dividend will be distributed after approval from the Annual General Meeting of the Company, said Chief Executive Officer (CEO) Toya Raj Adhikari.</div>', 'published' => true, 'created' => '2013-09-17', 'modified' => '0000-00-00', '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' => 'Nepal Rastra Bank (NRB) has clarified that it has not extended the deadline to meet the minimum required capital (paid-up capital) for banking and financial institutions (BFIs).', 'sortorder' => '1696', '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' => '1803', 'article_category_id' => '108', 'title' => 'Brief Money Matters', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><span style="font-size:14px;">NRB refutes deadline extension reports</span></strong></div> <div> Nepal Rastra Bank (NRB) clarified that it has not extended the deadline to meet the minimum required capital (paid-up capital) for banking and financial institutions (BFIs). NRB has ruled out extension of the deadline after there was news reporting that it had extended the deadline to meet the minimum required capital. “We have provisioned that the proposed bonus share distribution on Fiscal Year 2013-14 if approved by the NRB could be counted on the paid-up capital,” NRB spokesperson Bhaskarmani Gyawali said. Through the monetary policy, the NRB had directed those bank and financial institutions, who are yet to meet the minimum paid-up capital, to do so by the end of FY 2013-14. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Tinau’s dividend approved</strong></span></div> <div> Tinau Development Bank Ltd, headquartered at Butwal, got an approval from Nepal Rastra Bank to distribute a 12.69 per cent dividend. The bank is going to distribute the bonus from the profit of Fiscal Year 2012-13. The bank has collected Rs 1.53 billion deposit and extended a total of Rs 1.12 billion during the review period. It has earned a Rs 23.3 million profit and has issued capital of Rs 200 million and paid up capital of 115 million with eight branches in operation.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Everest Announces Book Closure Date</strong></span></div> <div> Everest Bank announced the book closure for share trading from September 18 to October 10 for the upcoming Annual General Meeting (AGM) of the bank. Releasing a communiqué last Wednesday, the bank stated that the 237th meeting of the Board of Directors (BoD) held on September 6 made such a decision. The details of AGM of 2012/13 will be made public by publishing the notice, the communiqué added.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Siddhartha Development’s ‘SDBL Auto Loan’</strong></span></div> <div> Siddhartha Development Bank Ltd started the ‘SDBL Auto Loan’ scheme on the occasion of Dashain. According to the scheme, it will extend loans on 11.99 per cent per annum interest rate to purchase new and reconditioned vehicles with 60 per cent discount on service charge. Likewise, other features of the scheme include loans of up to 80 per cent of the vehicle cost, seven years of moratorium period and unchangeable interest rate for a year, among others.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Garima’s 25 pc dividend</strong></span></div> <div> Garima Development Bank Ltd has said that it will propose a 25 per cent dividend distribution at its Annual General Meeting (AGM). According to the bank, it is going to propose 20 per cent bonus shares and 5 per cent cash dividend. The bank has collected a total amount of Rs 3 billion deposit and floated Rs 2.43 billion as a loan until the end of Fiscal Year 2012-13. Chief Executive Officer Govinda Prashad Dhakal informed that the bank earned an operating profit worth Rs 96.1 million in the FY2012-13. He further said that the bank is planning to issue rights shares next month. The bank has claimed that its issued and paid-up capital will reach 374 million after issuing rights share and distributing the dividends.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Kaski Finance to distribute 13 pc cash dividend</strong></span></div> <div> Pokhara based Kaski Finance has said that it will distribute 13 per cent cash dividend to its shareholders. The dividend will be distributed after the approval from the Annual General Assembly of the Finance and the decision of the 98th meeting of the Board of Directors. Chief Executive Officer (CEO) Toya Raj Adhikari said that the cash dividend is being distributed from the Finance’s profit of the Fiscal Year 2012-13.</div>', 'published' => true, 'created' => '2013-09-14', 'modified' => '0000-00-00', 'keywords' => 'Money Matters', 'description' => 'Nepal Rastra Bank (NRB) clarified that it has not extended the deadline to meet the minimum required capital (paid-up capital) for banking and financial institutions (BFIs).', 'sortorder' => '1664', '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' => '1796', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (9 -15 September 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><span style="font-size:14px;">Everest Bank’s Mobile ATM Facility</span></strong></div> <div> Everest Bank Limited began a mobile ATM facility. As per this facility, customers do not need to go to branch to get the banking services of the Everest Bank. The customers can get the payment from the designated bank representative. The Bank said that they have their designated representatives across the country. According to the press release of the bank, customers can also open their bank account from the designated representative. Everest Bank has introduced the concept of branchless banking service for the first time in Nepal.</div> <div> </div> <div> <strong><span style="font-size:14px;">Siddhartha Dev Bank’s ‘Home Loan Scheme’</span></strong></div> <div> Siddhartha Development Bank brought a ‘SDBL Home Loan’ scheme. The Bank said it has brought the scheme to fulfill the dream of every citizen to have their own home. The Bank informed that it will extend the maximum loan up to Rs 10 million to purchase home and apartment as well as to build the home. </div> <div> </div> <div> <strong><span style="font-size:14px;">Kailash Proposes 19 per cent Dividend </span></strong></div> <div> Kailash Development Bank Ltd said it will distribute 19 per cent dividend from the profit earned in the Fiscal Year 2012-13. The meeting of the Board of Directors (BOD) held last Wednesday decided to recommend distribution of 10 per cent bonus share and 9 per cent cash dividend. The Bank has collected Rs 6.26 billion deposit and extended a total of Rs 5.5 billion as loans in the Fiscal Year 2012-13. It informed that it has earned Rs 152.6 million net profit in the review period. </div> <div> </div> <div> <strong><span style="font-size:14px;">Discount on Infrastructure’s Locker </span></strong></div> <div> Infrastructure Development Bank Ltd said it will provide the free locker facility for a year to the customer opening bank account on ‘Naari Samriddi Khaata’. The Bank said it is providing this facility on the auspicious occasion of Hindu women’s festival Teej. The Bank, which merged with Swastik Merchant Finance Co Ltd last year, is providing banking services to its customers through 18 branches. </div> <div> </div> <div> <strong><span style="font-size:14px;">Laxmi Bank’s branch at Kohalpur</span></strong></div> <div> Laxmi Bank Ltd opened its branch at Kohalpur in Nepalgunj. The branch started its operation from last Monday. The number of the Bank’s branches has reached 33 with this newly opened branch. The Branch’s Manager Rima Malla informed that the branch will offer ATM, internet banking, mobile and other services. </div> <div> </div> <div> <strong><span style="font-size:14px;">Bhrikuti Development Enters 10th Year</span></strong></div> <div> Bhrikuti Development Bank Ltd headquartered in Butwal entered 10th year last Tuesday. The Bank had started its operation on September 3, 2004. The Bank’s paid up capital that started with Rs 10.5 million has now reached Rs 353.1. The Bank has expanded its services to 10 districts. The Bank said that the deposit amount of the bank has reached a total of Rs 4.30 billion and extended a total of Rs 3.21 billion as loans until the end of the Fiscal Year 2012-13. The bank has earned Rs 110 million profit. </div> <div> </div> <div> <strong><span style="font-size:14px;">Om Finance to Distribute 21 pc Dividend</span></strong></div> <div> Om Finance Ltd headquartered at Pokhara said it is planning to distribute 20 per cent bonus share and 1 per cent cash dividend. The Finance’s Annual General Meeting will decide to distribute a total of 21 per cent dividend after getting the approval from the Nepal Rastra Bank, according to the press statement released by the General Manager of Om Finance last Monday. Malla informed that the paid up capital of the Finance will be of worth Rs 325.7 million after distributing the dividend. </div>', 'published' => true, 'created' => '2013-09-09', 'modified' => '0000-00-00', '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 began a mobile ATM facility. As per this facility, customers do not need to go to branch to get the banking services of the Everest Bank.', 'sortorder' => '1657', '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' => '1748', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (2 - 8 September 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><span style="font-size:14px;">Everest Bank’s ‘Adopt a School’ Campaign</span></strong></div> <div> Everest Bank began its ‘Adopt a School Campaign’ by handing over school materials to the Janakpur-based Jagrup Shah, Rampukar Shah Higher Secondary School.The Bank’s Chief Executive Officer AK Ahluwalia handed over computers and other school materials to the Principal of the school amid a function last Tuesday.The Bank has said it will dedicate itself in improving the living standards of children through educational support. </div> <div> </div> <div> <strong><span style="font-size:14px;">Shangrila Bank Seven-years-old Now</span></strong></div> <div> Shangrila Development Bank Ltd headquartered at Pokhara turned seven on August 25. The bank organised a blood donation programme at its central office in Newroad, Pokhara to mark the seven years of its establishment. Officiating Chief Executive Officer Dinesh Thakali informed that 55 persons donated their blood during the programme held with the technical support of Nepal Red Cross Society, Pokhara. Thakali also said the bank has a deposit amount of Rs 3.12 billion and has extended a total of Rs 2.71 billion as loans until the end of the Fiscal Year 2012-13, earning Rs 133.6 million operating profit in the review period. </div> <div> </div> <div> <strong><span style="font-size:14px;">15 thousand Benefitted from BoK ‘Youth Save’</span></strong></div> <div> 15 thousand youths benefitted from ‘Youth Save’, a financial education programme jointly run by Bank of Kathmandu Ltd and Save The Children. The programme was launched with an aim to provide banking transactions and saving knowledge to youths. </div> <div> </div> <div> <strong><span style="font-size:14px;">Agricultural loan of Siddhartha Development</span></strong></div> <div> Siddhartha Development Bank Ltd started the SDBL agricultural loan last week. The bank has started this loan as it believes that development of agriculture can develop the country. The bank will float loans to farmers in animal farming, fishery, bee keeping, vegetable and fruit farming, agriculture based handicrafts businesses and purchasing of farming equipment, among others. </div> <div> </div> <div> <strong><span style="font-size:14px;">Global IME’s Branchless Banking Service</span></strong></div> <div> Global IME Bank Ltd extended its branchless service to Sukhipur and Kalyanpur VDCs of Siraha district. Deputy CEO Janak Sharma Poudyal inaugurated the service of the bank last Thursday. Certain banking services are provided through the designated agents in the branchless banking service. </div>', 'published' => true, 'created' => '2013-09-03', 'modified' => '0000-00-00', '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 began its ‘Adopt a School Campaign’ by handing over school materials to the Janakpur-based Jagrup Shah, Rampukar Shah Higher Secondary School.', 'sortorder' => '1609', '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' => '1663', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><span style="font-size:14px;">NRB Asked Capital Increment Plan</span></strong></div> <div> Nepal Rastra bank (NRB) has asked Banks and Financial Institutions (BFIs) to submit their plan to increase the paid-up capital as prescribed by NRB. The BFIs who have not increased their capital till mid-July 2013 to the minimum amount as prescribed, have to place the plan to NRB till Mid-Oct 2013. NRB issued such circular to all BFIs on August 11 (Sunday). As per this directive, commercial banks have to have a paid-up capital of Rs 2 billion and the national level development banks have to make it Rs 640 million. Similarly, the finance companies have to have a minimum of of Rs 200 million. </div> <div> </div> <div> </div> <div> <strong><span style="font-size:14px;">SEBON Inspects 30 Brokerage Companies</span></strong></div> <div> Securities Board of Nepal (SEBON) has inspected 30 brokerage companies after the complaint were filed against them. SEBON has inspected the detailed information regarding the buyers and sellers. Similarly, the on-site inspection also investigated matters related to anti-money laundering. The inspection has found that the brokers have been providing privilege to the larger investor than the smaller investors. Thus, they have been warned, not to repeat this behavior in future.</div> <div> </div> <div> </div> <div> <strong><span style="font-size:14px;">NBL Right Share Allotment </span></strong></div> <div> <img alt="Nepal Bank Limited (NBL)" src="/userfiles/images/nbl.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 81px;" />Nepal Bank Limited (NBL) has allotted 3,360,606 right shares to the shareholders. Out of this, 13,972,866 shares have been allotted to Government of Nepal and remaining 19,387,740 shares to the general public. This allotment is 92.17 percent of the right shares issued. The remaining unsubscribed right shares are to be auctioned.</div> <div> </div> <div> </div> <div> </div> <div> <strong><span style="font-size:14px;">EIC Resumes Operation</span></strong></div> <div> <img alt="Everest Insurance Company (EIC)" src="/userfiles/images/eic(1).jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 49px;" />Everest Insurance Company (EIC) resumed its operation from Sunday August 11 after an understanding between management team and agitation employees. Earlier, the Insurance Board had refused to renew the company’s licence as it had found embezzlement on payment of claim worth Rs 40 million to Himalayan Snax made by company.</div> <div> </div> <div> </div> <div> <strong><span style="font-size:14px;">Merger between Best and Samsara</span></strong></div> <div> The merger between Best Remit UK and Samsara Remit UK took place on Wednesday, 14 August. After the merger the new remittance company will operate in the name of ‘Best Samsara Remit’. </div> <div> Presidents of Best Holding Bhimkrishna Udas and Samsara Nepal UK Rajaram Giri signed the agreement for the merger. </div> <div> </div> <div> </div> <div> <strong><span style="font-size:14px;">Mega Distributes Certificate</span></strong></div> <div> <img alt="Mega Bank Nepal Ltd" src="/userfiles/images/mega.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 49px;" />Mega Bank Nepal Ltd had started distributing share certificates to the allotted shareholders from August 12. </div> <div> </div> <div> </div> <div> <strong><span style="font-size:14px;">Mega goes Branchless at Aargakachi</span></strong></div> <div> Mega Bank has started branchless banking services at two locations of Aargakachi. The two places are Hansapur and Khiliji of Aargakachi. </div> <div> </div> <div> </div> <div> <strong><span style="font-size:14px;">NIBL at Bharahathawa</span></strong></div> <div> <img alt="Nepal Investment Bank Ltd (NIBL) " src="/userfiles/images/nibl(1).jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 27px;" />Nepal Investment Bank Ltd (NIBL) has opened its 44th branch at Bharahathawa, Sarlahi. The branch was inaugurated by bank’s CEO Jyoti Prakash Pandey on August 15 (Thursday).</div> <div> </div> <div> </div> <div> <strong><span style="font-size:14px;">RMDC IPO Allotment</span></strong></div> <div> <img alt="" src="/userfiles/images/rmdc.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 50px; height: 50px;" />Rural Microfinance Development Center (RMDC) Ltd has allotted its IPO on Thursday August 15. Though RMDC had issued 1,560,000 unit of shares, it had got applications for a total of 17,429,240 units. </div> <div> </div> <div> </div> <div> </div> <div> <strong><span style="font-size:14px;">GBIME at Hetuada</span></strong></div> <div> <img alt="Global IME Bank" src="/userfiles/images/gbime.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 21px;" />Global IME Bank has opened its 71st branch at Hetuada. The branch was inagurated by NPBC President Kush Kumar Joshi on Friday, August 16.</div> <div> </div>', 'published' => true, 'created' => '2013-08-19', 'modified' => '2013-08-20', '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' => 'Nepal Bank Limited (NBL) has allotted 3,360,606 right shares to the shareholders.', 'sortorder' => '1524', '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' => '1630', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (12 - 18 August 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><span style="font-size:14px;">S<img alt="Sanima Bank Ltd" src="/userfiles/images/SANIMA.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 13px;" />anima at Ghorai & Dhangadhi </span></strong></div> <div> Sanima Bank Ltd (Sanima) has opened its 26th & 27th branch at Ghorahi (Dang) and Dhangadhi. The Ghorahi branch was jointly inaugurated by Mahesh Ghimire, Director, Sanima Bank, and Hari Bansha Acharya, renowned artist and social activist of Nepal. Similarly, the Dhangadi branch was jointly inaugurated by Bharat Kumar Pokharel, Director, Sanima Bank, and Hari Bansha Acharya. </div> <div> </div> <div> <strong><span style="font-size:14px;"><img alt="Shine Resunga Development (SRD) Bank " src="/userfiles/images/SRD.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 19px;" />SRD New Share Certificate Distribution </span></strong></div> <div> Shine Resunga Development (SRD) Bank Limited is distributing new share certificates to the shareholders of Shine Development Bank Limited and Resunga Bikas Bank Limited which merged to form SRD from August 2. </div> <div> </div> <div> <strong><span style="font-size:14px;"><img alt="Sunrise Bank" src="/userfiles/images/SUNRISE.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 24px;" /><img alt="CDSC" src="/userfiles/images/CDSC.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 32px; height: 24px;" />Sunrise Bank’s Shares Dematerialized </span></strong></div> <div> Sunrise Bank has joined Central Depository System and Clearing (CDSC) to get its shares dematerialized on August 6. CDSC signed an agreement with Sunrise Bank to dematerialize the company’s 2,0150,000 units of shares. As per the agreement, the bank ISIN (International Securities Identification Number) code is NPE014A00008. </div> <div> </div> <div> <strong><span style="font-size:14px;"><img alt="Himalayan Bank Ltd (HBL)" src="/userfiles/images/HBL.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 25px;" />HBL at Betrawati and Birtamod </span></strong></div> <div> Prachanda Bahadur Shrestha, member of management team of Himalayan Bank Ltd (HBL) inaugurated bank’s Betrawati Branch amidst a function on August 4. Similarly, Manoj Bahadur Shrestha, Chairman of HBL inaugurated bank’s Birtamod Branch at Birtamod,amidst a function on August 7. With this, the bank now has 41 branches. </div> <div> </div> <div> <strong><span style="font-size:14px;"><img alt="Mahakali Bikas Bank Ltd" src="/userfiles/images/MAHAKALI.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 22px;" />Mahakali at Belauri </span></strong></div> <div> Mahakali Bikas Bank Ltd has opened its 4th branch at Belauri, Kanchanpur. The branch was inaugurated by Dr Gunakar Bhatta, Chief Manager, NRB, Dhangadhi branch. </div> <div> </div> <div> <strong><span style="font-size:14px;"><img alt="Sindhu Bikas Bank Ltd " src="/userfiles/images/SINDHU.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 29px;" />Sindhu at Dolalaghat </span></strong></div> <div> Sindhu Bikas Bank Ltd has opened its 5th branch at Dolalghat. The branch was inaugurated by chairman of bank, Rajendra Kumar Shrestha. </div> <div> </div> <div> <strong><span style="font-size:14px;"><img alt="NMB Bank Ltd" src="/userfiles/images/NMB(1).jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 33px;" />NMB at Rasuwa </span></strong></div> <div> NMB Bank Ltd has opened its 25th branch at Rasuwa. The branch was inaugurated by CDO of Rasuwa District Basudev Ghimire. </div> <div> </div> <div> <strong><span style="font-size:14px;"><img alt="Civil Bank" src="/userfiles/images/CIVIL.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 100px; height: 27px;" /><img alt="City Express" src="/userfiles/images/CITYEXPRESS.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 93px; height: 27px;" />Civil and City Tied-up </span></strong></div> <div> Civil Bank has signed agreement with City Express Money Transfer to make remittance payment through the bank´s outlets in different parts of the country. Chandra Tandan, MD of City Express and Kishore Maharjan, CEO of Civil Bank, signed the agreement. </div> <div> </div> <div> <strong><span style="font-size:14px;"><img alt="Siddhartha Development Bank (SDBL)" src="/userfiles/images/SDBL.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 29px;" /><img alt=" Prabhu Money Transfer " src="/userfiles/images/PRABHU.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 81px; height: 29px;" />SDBL and Prabhu Tied-up </span></strong></div> <div> Siddhartha Development Bank (SDBL) has signed agreement with Prabhu Money Transfer to make remittance payment through the bank´s 18 branches spread across Nepal. Mahesh Sharma Dhakal, CEO of SDBL and Rameshwor Sapkota, DGM of Prabhu Money Transfer, signed the agreement. </div> <div> </div> <div> <strong><span style="font-size:14px;"><img alt="Kriti Capital & Investments Ltd." src="/userfiles/images/KRITI.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 25px;" />Kriti Gets PMS License </span></strong></div> <div> Securities Board of Nepal (Sebon) has issued a Portfolio Management Service (PMS) license to Kriti Capital & Investments Ltd. Kriti is the 12th merchant banker to obtain a PMS license under Merchant Banking Regulations, 2008. </div> <div> </div> <div> <strong><span style="font-size:14px;"><img alt="Sanima Mai Hydropower Limited (SMHL) " src="/userfiles/images/SMHL.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 50px;" />SMHL Gets Grade 3 for its IPO </span></strong></div> <div> The upcoming IPO of Sanima Mai Hydropower Limited (SMHL) has received Grade 3 rating from ICRA Nepal, indicating the company’s average fundamentals. SMHL has proposed to float an IPO of 2,110,000 equity shares of face value Rs 100 each.</div> <div> </div>', 'published' => true, 'created' => '2013-08-13', 'modified' => '0000-00-00', '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' => 'Sanima Bank Ltd (Sanima) has opened its 26th & 27th branch at Ghorahi (Dang) and Dhangadhi.', 'sortorder' => '1491', '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' => '1578', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (5-11 August 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><img alt="HBL Launches American Express" src="/userfiles/images/hbl.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 150px; height: 71px;" />HBL Launches American Express Gold Credit Card </strong></div> <div> Himalayan Bank Ltd (HBL) and American Express launched Himalayan Bank American Express Gold Credit Card on August 1. The card will be accepted at more than 900 HBL POS terminals and 76 ATMs within Nepal. The card is of two types namely domestic and international. The domestic card members can get up to 20% saving on dining and up to 15% on shopping and hotels and spa. They can also enjoy privileged access to world-class golf facilities in Nepal and complimentary access to Radisson Lounge at TIA and Altitude Lounge in domestic airports of Delhi and Mumbai. Similarly, international card members can get complimentary membership to the Priority Pass Program that gives access to 600 VIP airport lounges around the world. They will also enjoy great savings and discounts on shopping, dining and travel. </div> <div> </div> <div> </div> <div> <strong><img alt="Everest Bank" src="/userfiles/images/ebl.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 150px; height: 38px;" />EBL Profit Up 34.14 Percent </strong></div> <div> The operating profit of the Everest Bank for the financial year ended 15th July, 2013 has increased by 34.14 percent (Rs. 240.17 crores) compared to the previous financial year (Rs.179.04 crores). The figures are based on the Provisional Account as presented by the Management of the Bank to the Board. The Board noted with satisfaction the Bank has now joined the league of the largest banks in the country with total business in excess of Rs. 10,000 Crores. The NPA has come down to 0.62percent from 0.84percent last year. </div> <div> </div> <div> </div> <div> <strong><img alt="Nepal Derivative Exchange Limited" src="/userfiles/images/ndex.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 150px; height: 101px;" />NDEX Signs Agreement with Auction Holdings</strong></div> <div> Managing Director of Nepal Derivative Exchange Limited Bishwojan Thapa Shrestha had left for Malawi, Africa last week on invitation of Auction Holdings Commodity Exchange for its inauguration. Both the Exchanges signed an agreement in the programmme for bilateral co-ordination, welfare and mutual knowledge sharing. Shrestha from Nepal Derivative Exchange Ltd and RD Matwi from Auction Holdings Commodity Exchange signed the agreement. The visit is expected to strengthen the mutual relationship between both the companies in the future. </div> <div> </div> <div> </div> <div> <strong><img alt="Century ATM" src="/userfiles/images/century(1).jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 22px;" />Century ATM at Koteshwor </strong></div> <div> Century Commercial Bank on Wednesday, July 30 installed its 17th ATM terminal at Koteshwor. </div> <div> </div> <div> </div> <div> <strong><img alt="Janta Bank" src="/userfiles/images/janta(1).jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 27px;" />Janta Bank’s Three ATMs </strong></div> <div> Janta Bank on Tuesday, July 29 installed three ATM terminals at Suryabinayak of Bhaktapur, Nepalgunj and Inarwa. </div> <div> </div> <div> </div> <div> <strong><img alt="xpressmoney" src="/userfiles/images/express.jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 50px;" />Mega and Xpress Money Tie </strong></div> <div> An agreement was signed between Mega Bank Nepal Limited and Xpress Money Service for the remittance business on August 1. </div> <div> </div> <div> </div> <div> <strong><img alt="PrabhuMOney transfer" src="/userfiles/images/prabhu(1).jpg" style=" float: left; margin: 0px 10px 0px 0px;width: 100px; height: 35px;" />Prabhu Money Transfer Partners with Century Bank </strong></div> <div> An agreement was signed between Prabhu Money Transfer and Century Commercial Bank for the remittance business. The remittance agreement was jointly signed by Rameshwor Sapkota, General Manager of Prabhu Money Transfer and Ganesh Kumar Shrestha, CEO of Century Commercial Bank.</div> <div> </div>', 'published' => true, 'created' => '2013-08-05', 'modified' => '0000-00-00', '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' => 'Himalayan Bank Ltd (HBL) and American Express launched Himalayan Bank American Express Gold Credit Card on August 1.', 'sortorder' => '1439', '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' => '1526', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (29 July - 4 August 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>EIC Employee on Strike </strong></div> <div> <img alt=" Everest Insurance Company (EIC)" src="/userfiles/images/eic.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 49px;" />Employees of Everest Insurance Company (EIC) are on strike from Wednesday (July 24). After Insurance Board has partially banned on EIC to handle fire insurance business, it has not been capable to renew its license. So, stating that the Insurance Board and the management team of company have not taken any steps to change the situation, the employees of the EIC have been on strike daily from July 24. </div> <div> </div> <div> </div> <div> <strong>NB Bank Awarded for Best Financial Report </strong></div> <div> <img alt="Nepal Bangladesh Bank" src="/userfiles/images/nb%20bank.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 35px;" />Nepal Bangladesh Bank has bagged 1st runner up award for best financial report. The annual award is given by Nepal Chartered Accountants’ Association. The financial reports are evaluated as per the rules set by South Asian Federation of Accountants and the reports that are adjudged best in the country are then sent to compete at the South Asian level. NB Bank made a remarkable improvement compared to last fiscal year. </div> <div> </div> <div> </div> <div> <strong>Laxmi at Waling and Kohalpur </strong></div> <div> <img alt="Laxmi Bank" src="/userfiles/images/laxmi.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 80px; height: 40px;" />Laxmi Bank has opened branches at Waling, Syanga and Kohalpur, Banke. After these, the number of branches of bank reached 33. </div> <div> </div> <div> </div> <div> </div> <div> <strong>Sanima at Hetauda </strong></div> <div> <img alt="Sanima Bank Limited (Sanima) " src="/userfiles/images/sanima%20bank.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 13px;" />Sanima Bank Limited (Sanima) has opened its 25th branch at Hetauda. The branche was jointly inaugurated by the Chairman, Jiba Lamichhane and Brand Ambassador of Sanima, Hari Bansha Acharya & Madan Krishna Shrestha (MAHA). </div> <div> </div> <div> </div> <div> <strong>Citizens’ ATM at Bhat-Bhatani </strong></div> <div> <img alt="" src="/userfiles/images/citizens.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 25px;" />Citizens Bank International on Wednesday, July 24 installed its 36th ATM terminal at Bhat- Bhateni Supermarket, Bhat-Bhateni. </div> <div> </div> <div> </div> <div> <strong>NIBL Debentures Allotted </strong></div> <div> <img alt="Nepal Investment Bank Limited (NIBL)" src="/userfiles/images/nibl.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 24px;" />Nepal Investment Bank Limited (NIBL) has allotted Rs.500 million Redeemable “8% NIB Debenture 2077” to general public on (6th Shrawan, 2070), It is refunding money to the non-allottee investors from 11th Shrawan, 2070. </div> <div> </div> <div> </div> <div> <strong>Manaslu IPO </strong></div> <div> <img alt="" src="/userfiles/images/manaslu.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 33px;" />Manaslu Bikas Bank Ltd is going for initial public offering (IPO). The bank is going to issue 3,60,000 ordinary shares to the public at par value of Rs 100. </div> <div> </div> <div> </div> <div> <strong>Grade 4 for Mahakali IPO </strong></div> <div> <img alt="" src="/userfiles/images/icra.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 46px;" /><img alt="Mahakali Bikas Bank Limited" src="/userfiles/images/mahakali.jpg" style="float: left; margin: 0px 10px 0px 0px;height: 22px; width: 100px;" />ICRA Nepal Limited has assigned a [ICRANP] IPO Grade 4 (Pronounced as ICRA NP IPO Grade Four) Rating to the Rs. 80 million Right Issue of Mahakali Bikas Bank Limited. Instruments with this rating are considered to have below-average fundamentals.</div> <div> </div>', 'published' => true, 'created' => '2013-07-29', 'modified' => '2013-07-29', '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' => 'Employees of Everest Insurance Company (EIC) are on strike from Wednesday (July 24).', 'sortorder' => '1387', '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' => '1478', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (22-28 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Special Meeting Okays RBB Share Conversion </strong></span></div> <div> The special general meeting (SGM) of Rastriya Banijya Bank (RBB) on Sunday, July 14 approved the conversion of 8,735,700 units of preference shares worth Rs 873.57 million into ordinary shares. With the conversion, RBB’s paid-up capital has reached Rs 8.58 billion. </div> <div> </div> <div> The SGM approved the capital restructuring through an amendment to the bank’s MoA and AoA as proposed by RBB Chairman Narahari Dhakal. After this, the bank’s capital adequacy ratio stands at 3 percent for the first time as of mid-July, which is still far below the minimum requirement of 10% set by Nepal Rastra Bank. The bank had planned to increase its core capital to Rs 8.5 billion in its capital plan which has now been attained. The government had earlier injected Rs 4.32 billion in the bank to increase its paid-up capital. </div> <div> </div> <div> The bank had received the Nepal Rastra Bank (NRB) approval for its three-year capital plan in mid-April last year. However, the bank’s proposed Rs 12.5 billion capital plan will not be enough to meet capital adequacy which require Rs 14 billion. Earlier, the government had directed RBB and NIDC Development Bank to merge in order to manage the necessary capital. However, the merger has not taken place particularly due to NIDC’s reluctance. </div> <div> </div> <div> Announcing the government budget for the fiscal year 2013-14, the Finance Minister has announced a plan to upgrade NIDC Development bank to an Infrastructure Development Bank. </div> <div> </div> <div> <span style="font-size:14px;"><strong>NLG Shares Listed </strong></span></div> <div> NLG Insurance Company Limited and Nepse signed an agreement on July 9 to list 2,250,000 units of ordinary shares of NLG. Trading in those shares in the secondary market started on 16 July 2013. These shares were issued as IPO in 29 March 2013.</div> <div> </div>', 'published' => true, 'created' => '2013-07-23', 'modified' => '2013-07-23', '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' => 'The special general meeting (SGM) of Rastriya Banijya Bank (RBB) on Sunday, July 14 approved the conversion of 8,735,700 units of preference shares worth Rs 873.57 million into ordinary shares.', 'sortorder' => '1339', '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' => '1427', 'article_category_id' => '108', 'title' => 'News In Brief (15 - 21 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>Ahluwalia new CEO of Everest Bank</strong><br /> <br /> AK Ahluwalia has been appointed the CEO of Everest Bank. According to a press statement, Ahluwalia assumed office on July 1. “Ahluwalia has more than 32 years of banking experience at Punjab National Bank India and has held the post of deputy general manager in parent organization,” the statement said. Ahluwalia has key expertise in credit and recovery.<br /> <br /> <strong><img alt="nbdbank" src="/userfiles/images/NMB.jpg" style="width: 220px; height: 73px; margin: 10px;" /><br /> <br /> NMB Sulav Investment Fund-I Coming</strong><br /> <br /> NMB Bank is bringing ‘NMB Sulav Investment Fund-I’ in first quarter of the coming Nepali fiscal year. The Rs 60 million fund is closed-end are with five years maturity period. The bank is going to invest 60 percent of the fund on shares and 40 percent on debentures. The unit holders are promised 12 percent annual return. NMB Capital Limited has been appointed as the issue manager of the fund.<br /> <br /> <br /> <br /> <img alt="banijya" src="/userfiles/images/banijya.jpg" style="width: 203px; height: 78px; margin: 10px;" /><br /> <strong>RBB Dullu Branch Reinstated</strong><br /> <br /> Rastriya Banijya Bank reinstated its Dullu Branch on Tuesday (July 9). The branch was inaugurated by Nepalgunj Regional Office Chief Bir Banahur Chand.<br /> <br /> <br /> <br /> <img alt="ndep" src="/userfiles/images/NDEP.jpg" style="width: 128px; height: 112px; margin: 10px;" /><br /> <br /> <img alt="hama" src="/userfiles/images/HAMA.jpg" style="margin: 10px; width: 197px; height: 72px;" /><br /> <strong>NDEP Hama Merger Cancelled</strong><br /> <br /> The merger process between Hama Merchant and Finance Ltd and NDEP Development Bank has been cancelled. The reason for the decision is to open the path to merge both of these BFIs with Prabhu Finance, says the sources. To further strengthen capital position and consolidate its presence on the market, Prabhu Finance has simultaneously initiated merger talks with NDEP Development Bank and Hama Merchant Bank.<br /> <br /> <img alt="Hama Merchant Finance" src="/userfiles/images/NepalBank.jpg" style="width: 147px; height: 119px; margin: 10px;" /><br /> <br /> <strong>NBL Right Shares Undersubscribed</strong><br /> <br /> The rights shares issued by Nepal Bank has fallen 8 percent short of being fully subscribed as the money collected by the end of closing day was only 92 percent of the total issue. As per a press statement, the bank will sell the remaining shares in a manner prescribed in the law. The bank got Rs 1.40 billion worth of applications for the rights shares from the government alone, which has 38.6 percent stake in the bank. Likewise, it collected Rs 1.93 billion from other shareholders who own 61.4 percent stake in the bank. The total collection from this rights issue stands at Rs 3.33 billion.<br /> <br /> </p>', 'published' => true, 'created' => '2013-07-15', 'modified' => '0000-00-00', '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' => 'AK Ahluwalia has been appointed the CEO of Everest Bank. According to a press statement, Ahluwalia assumed office on July 1. “Ahluwalia has more than 32 years of banking experience at Punjab National Bank India and has held the post of deputy general manager in parent organization,” the statement said. Ahluwalia has key expertise in credit and recovery.', 'sortorder' => '1289', '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' => '1377', 'article_category_id' => '108', 'title' => 'Bhargav In Basgadi', 'sub_title' => '', 'summary' => null, 'content' => '<p> <span style="font-size: 12px;">Bhargav Bikas Bank has opened its branch at Basgadi, Bardiya.</span></p> <div> </div>', 'published' => true, 'created' => '2013-07-09', 'modified' => '0000-00-00', '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' => 'Bhargav Bikas Bank has opened its branch at Basgadi, Bardiya.', 'sortorder' => '1239', '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' => '1376', 'article_category_id' => '108', 'title' => 'Pathibhara And Srijana In Merger', 'sub_title' => '', 'summary' => null, 'content' => '<p> <span style="font-size: 12px;">Pathibhara Bikas Bank and Srijana Finance have signed an agreement for merger. After the merger the name of the new entity will be Pathibhara Bikas Bank with head office and corporate office at Biratnagar.</span></p>', 'published' => true, 'created' => '2013-07-09', 'modified' => '0000-00-00', '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' => 'Pathibhara Bikas Bank and Srijana Finance have signed an agreement for merger.', 'sortorder' => '1238', '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' => '1375', 'article_category_id' => '108', 'title' => 'KBL Extension Counter At RBS', 'sub_title' => '', 'summary' => null, 'content' => '<p> <span style="font-size: 12px;">Kumari Bank Limited (KBL) and Rastriya Beema Sansthan (RBS) have signed an agreement whereby the bank will operate extension counter in the premises of RBS effective from 30 June 2013. The agreement was signed by Uday K. Upadhyay, Acting CEO of Kumari Bank Limited and Ram Bahadur Khadka, Administrator of RBS. KBL is providing banking services from 30 points of representations.</span></p>', 'published' => true, 'created' => '2013-07-09', 'modified' => '0000-00-00', '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' => 'Kumari Bank Limited (KBL) and Rastriya Beema Sansthan (RBS) have signed an agreement ..', 'sortorder' => '1237', '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
