…
…
…
…
…
…
…
…
…
…
…
…
…
…
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 60]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '394', 'article_category_id' => '39', 'title' => 'Etihad Airways-International(july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-indent: 0in; text-align: justify;"> <span style="font-size: 12pt; letter-spacing: 0.1pt;">E</span><span style="letter-spacing: 0.1pt;">tihad seeks to reflect the best of Arabian hospitality as well as enhance the prestige of Abu Dhabi as a centre of hospitality between East and West. Its goal is to be a truly 21st century global airline challenging and changing the established conventions of airline hospitality. Apart from providing a relaxing experience, it strives to make travel safe and environment-friendly by practicing the highest global standards in both these areas. The airline is constantly innovating, taking the smallest detail into account in its pursuit of excellence and perfection. The overall ambition of Etihad Airways is to be the best airline in the world. </span></div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> Etihad is governed by a Board of Directors under the chairmanship of HH Sheikh Hamed bin Zayed Al Nahyan while the airline’s management team is led by James Hogan who was appointed as Chief Executive Officer in October 2006 to lead the airline’s continued successful growth and development. The ongoing redevelopment work at Abu Dhabi International Airport has significantly enhanced the experience for guests. The second runway, officially opened in October 2008, is part of a large scale UAE Dirham (AED) 25 billion redevelopment programme and expansion project at the airport. Terminal 3 at Abu Dhabi Airport, an exclusive facility for Etihad, was opened in February 2009 increasing the airport’s passenger handling capacity from five to 12 million passengers a year. The first phase of a Midfield Terminal Complex is due for completion in the next few years and will take the airport’s handling capacity to 20 million passengers. The airport will be capable of handling 40 million passengers by 2030 when the project is completed.<br />  </div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0.1pt;">Fleet and network</span></strong></div> <div style="text-align: justify;"> <span style="letter-spacing: 0.1pt;">Etihad’s fleet, among the youngest in the world, has 57 aircraft operating 1,032 flights per week serving an international network of 68 destinations in 45 countries in the Middle East, North America (New York, Chicago and Toronto), Africa, Europe, Australia and Asia (including Kathmandu in Nepal). In addition, Etihad has 30 code-share agreements in place, building the airline’s international network. As part of its long term vision, Etihad plans to operate in up to 100 major business and leisure destinations around the world by 2020. </span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: 0.1pt;">The airline announced the largest aircraft order in commercial aviation history at Farnborough International Air show in 2008, for up to 205 aircraft – 100 firm orders, 55 options (guaranteeing the price of the aircraft and the delivery date) and 50 purchase rights (guaranteeing the price of the aircraft but not the delivery date).<br /> <br /> </span></div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0.1pt;">People and Company Growth </span></strong></div> <div style="text-align: justify;"> <span style="letter-spacing: 0.1pt;">Currently, close to 8,000 people work at Etihad Airways with the majority based in Abu Dhabi and the UAE. In order to meet Etihad’s predicted fleet, passenger and destination growth by 2020 – which plans for more than 25 million passengers to fly to more than 100 destinations aboard a fleet of 150 planes – the airline will need a workforce of approximately 27,000 people. In 2010, Etihad saw passenger numbers top 7 million (7.1 million passengers carried) for the first time and revenue passenger kilometres (RPKs) rise 20.1 per cent. Etihad’s revenue exceeded US $2.9 billion in 2010. </span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: 0.1pt;">On the ground, Etihad has introduced a range of services designed to make the travel experience as comfortable, smooth and fast as possible. It offers a range of convenient ground services, including Etihad Chauffeur, its premium limousine service available at 27 destinations globally, and premium lounges (370,000 lounge guests hosted) in Abu Dhabi, London, Frankfurt, Dublin and Manchester.<br /> <br /> </span></div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0.1pt;">Etihad Guest</span></strong></div> <div style="text-align: justify;"> <span style="letter-spacing: -0.35pt;">Etihad Guest is an award-winning loyalty programme boasting over one million members to date. Launched in August 2006, the programme offers its members opportunities to accumulate Etihad Guest Miles which can be redeemed against a wide selection of over 1,800 flight and non-flight rewards from over 200 partners. Non-flight rewards cover a wide variety of categories from computer and electronic equipment to jewellery and lifestyle products. Each year, over 40 promotions are organised by the CRM and Loyalty department and communicated to all Etihad Guest members.<br /> <br /> </span></div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0.1pt;">Sponsorships</span></strong></div> <div style="text-align: justify;"> <span style="letter-spacing: 0.1pt;">Etihad supports a range of sporting and cultural events in the UAE and the world over. These sponsorships are consistent with Etihad’s values of hospitality and team spirit and helps bring Abu Dhabi to the world and vice-versa. Its major sponsorships include Etihad Stadium, Ferrari Formula 1 (F1) Team, Sport Australia Hall of Fame, GAA Hurling All-Ireland Senior Championship, Harlequins Rugby Football Club, F1 Etihad Airways Abu Dhabi Grand Prix and Manchester City Football Club.<br /> <br /> </span></div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0.1pt;">Marketing </span></strong></div> <div style="text-align: justify;"> <span style="letter-spacing: 0.2pt;">The airline’s marketing department plays a major role in taking the Etihad Airways story to the world. Etihad was awarded ‘World’s Leading Airline’ at the World Travel Awards in 2010 for the second consecutive year. It set the benchmark for the airline’s brand communications enabling Etihad to inspire its audiences through a range of campaigns to ‘fly with the best’. The same year, it launched an international television advertising campaign titled ‘He Likes, She Likes’ showcasing the airline’s continued investment in products and services and commitment to offering a tailored, personal experience for every traveller.</span><span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.05pt;">n</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <strong>An Award Winning Airline</strong></div> <div style="text-align: justify;"> Etihad has received a range of awards that reflects its position as the leading premium airline brand in the world. In its first seven years of operation, its range of local and international awards includes:</div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2011 </span></b></div> <div style="text-align: justify;"> <span style=""> Best Long Haul Airline – Irish Travel Awards </span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2010 </span></b></div> <div style="text-align: justify;"> <span style=""> Airline of the Year – Aviation Business Awards </span></div> <div style="text-align: justify;"> <span style=""> World’s Leading Airline – World Travel Awards (second consecutive year)</span></div> <div style="text-align: justify;"> <span style=""> World’s Best First Class – Skytrax (judged by over 18 million air travellers worldwide in the annual Skytrax survey)</span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2009 </span></b></div> <div style="text-align: justify;"> <span style=""> World’s Leading Airline - World Travel Awards (WTA) </span></div> <div style="text-align: justify;"> <span style=""> Best Airline to the Middle East / Africa - Irish Travel Trade News awards, Dublin </span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2008 </span></b></div> <div style="text-align: justify;"> <span style=""> European Sponsorship of the Year Award - European Sponsorship Association </span></div> <div style="text-align: justify;"> <span style=""> James Hogan, Aviation CEO of the year - CEO Middle East awards (ITP) </span></div> <div style="text-align: justify;"> <span style=""> Best website www.etihadairways.com - Pan Arab Web Awards </span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2007 </span></b></div> <div style="text-align: justify;"> <span style=""> Best Economy class catering award - Skytrax </span></div> <div style="text-align: justify;"> <span style=""> The Middle East’s Leading Airline - World Travel Awards </span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2006 </span></b></div> <div style="text-align: justify;"> <span style=""> Middle East Airline of the Year - Pax International magazine </span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2005 </span></b></div> <div style="text-align: justify;"> <span style="font-size: 5.5pt;"> </span><span style="">Outstanding Food Service by a Carrier – Pax International magazine </span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2004 </span></b></div> <div style="text-align: justify;"> <span style=""> The World’s Leading New Airline – World Travel Awards</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="font-size: 13.5pt; letter-spacing: 0.15pt;">‘Essential Abu Dhabi’</span></div> <p style="text-align: justify;"> <span style="font-size: 11pt; line-height: 115%;">Etihad Airways has designated 2011 as ‘the year of Abu Dhabi’ with the launch of its ‘Essential Abu Dhabi’ destination marketing campaign. The campaign will see Etihad unveil a number of exciting promotional activities across the globe designed to enhance Abu Dhabi’s place as a top tourist and MICE (Meetings, Incentives, Conferences and Exhibitions) destination. All the major tourism operators in the emirate of Abu Dhabi have come together under one showcase umbrella for the first time to promote the very best UAE capital has to offer. The campaign is being supported by the Abu Dhabi Tourism Authority as a major partner. The programme is also targeting millions of passengers transiting through the Abu Dhabi hub, to entice them for a stopover in the city.</span></p>', 'published' => true, 'created' => '2011-09-01', 'modified' => '2011-09-01', 'keywords' => '', 'description' => 'Etihad seeks to reflect the best of Arabian hospitality as well as enhance the prestige of Abu Dhabi as a centre of hospitality between East and West. Its goal is to be a truly 21st.....', 'sortorder' => '310', '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' => '393', 'article_category_id' => '39', 'title' => 'ICFC: Going Steady(july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">ICFC Finance Limited has been largely successful in maintaining its liquidity while a number of financial institutions continue to face liquidity crunch. Sunil Pant, General Manager of ICFC, claimed the company maintains liquidity of 28 to 30 per cent at any given point of time. “Maintaining liquidity is our key concern at present. We think of profitability only after we have maintained enough liquidity,†he explains. The company has made a net profit of Rs 27.19 million by the end of third quarter of the current fiscal year.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">After being registered in 2003, ICFC commenced its operations from July 17, 2004. “We started with a paid-up capital of around Rs 25.5 million before going public,†Pant shared. In its seven years of operation, the company has Rs 330 million as paid-up capital out of core capital of Rs 400 million.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Pant asserts that success did not happen overnight. He says, “We are always focused on our future plans and tread a cautious path while lending.†He added that the finance company is headed by professionals with long exposure and experience in commercial banking. Ram Babu Pant heads the company as the CEO and has served as Deputy Governor of Nepal Rastra Bank (NRB) in the past. The board of directors too comprise of influential members under the chairmanship of Suresh Kumar Agrawal.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;"> “The economic sector was booming and there were a lot of business opportunities when we began our service,†says Pant. He claims ICFC’s Credit to Deposit ratio is around 70 to 75 per cent. He adds, “We never focused on investment in a single sector since the beginning.â€<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">At present, ICFC has deposits of around Rs 3 billion and loans and advances amounting to Rs 2.45 billion. Therefore, the difference between loans and deposit is around Rs 550 million while cash in reserve is about Rs 1.05 billion. It lends mostly in trading, industry and education sectors and less in hire purchase and margin lending. Pant said the company has refrained from investing in land plotting and real estate though it does grant personal and home loans.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The company has eight branches including the main branch at Bhatbhateni. Pant tells that ICFC opens a new branch only after the previous branch reaches break-even . It has been launching a new branch every year in a phase-wise manner. He opines, “We are a finance company so opening multiple branches at once will be challenging to manage. We do want to upgrade our status. However, we have opted to wait and watch given the current state of the economy.†He thinks the current liquidity crisis is snowballing into a sort of credit crunch. “We must maintain a strong position with respect to liquidity as we are responsible for safeguarding our depositors’ interests,†he asserted.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">ICFC has been giving either dividend or bonus shares to its stakeholders every year on an alternate basis. “A cash dividend of 15 per cent was given last year while bonus shares were issued the year before,†Pant states.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The finance company offers its own ATM services at every branch. It is also linked to the SCT network which has around 1,500 ATM counters throughout the country. Pant says that customer satisfaction is the topmost priority at ICFC. “We provide all banking products and facilities offered by a conventional bank,†he claims. The company provides all banking services including mobile banking, SMS banking and Internet banking apart from locker facilities at some of its branches.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Pant distinguishes ICFC from similar institutions through its quality of services provided. “Everyone is doing almost similar things in the market but we are more focused on service delivery along with our bouquet of total banking services,†Pant explains.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The company believes that banking industry largely depends on trust which should not be shaken at any cost. Therefore, the company has made corporate governance its top priority. Pant attributes the failure of some banks and finance companies to weak corporate governance rather than liquidity problem. Pant reassures ICFC was safe in the past and will remain safe in the future too. Its reputation has helped build a customer base of around 50,000 people.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">ICFC is increasing its access to micro financing through First Micro Finance Development Bank, of which it is a promoter. Little service differentiation between commercial banks and finance companies has led to competition between them. Pant feels that while competition is good and adds excitement to work, ICFC does not indulge in aggressive competition. He thinks customers are spoilt with choices today and are free to subscribe to better services and facilities offered by just any company.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">A total of 85 employees work at ICFC Finance Limited. Pant says, “We give equal priority to all ICFC family members and ensure a sense of belonging and job satisfaction. We give our people a lot of independence and authority to meet these objectives.†He adds that the company’s uncompromising attitude in providing facilities at par with the competitors has helped ensure employee retention to a large extent.<br /> <br /> </span></div> <div> <span style="font-size: 9.5pt; line-height: 115%;">ICFC plans to achieve and sustain unprecedented growth in the future. However, it is eagerly waiting for policies that will come in with the new fiscal year. “We can then decide our future course of action,†Pant concludes.</span></div> <div>  </div> <div style="margin: 11pt 0in 0.0001pt; vertical-align: middle;"> <span style="font-size: 11.5pt;">SWOT Analysis</span></div> <div style="margin: 5.65pt 0in 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Strengths:</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Team of experienced professionals</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Strong capital base</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Liquidity maintenance</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Total banking services</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Focus on service delivery</span></div> <div style="margin: 5.65pt 0in 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Weaknesses:</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Less number of branches</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Small capital size</span></div> <div style="margin: 5.65pt 0in 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Opportunities:</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Huge market potential</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Services and branches expansion</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Investment possibilities</span></div> <div style="margin: 5.65pt 0in 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Threats:</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Liquidity crunch in the market</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Political and policy instability</span></div> <div> <span style="font-size: 9.5pt; line-height: 115%; color: black;">Lack of investment environment</span></div> <div>  </div> <div align="center"> Unaudited Financial Results as of mid April 2011</div> <table border="0" cellpadding="0" cellspacing="0" style="margin-left: 4.1pt; border-collapse: collapse;"> <tbody> <tr style="height: 3pt;"> <td style="width: 91.95pt; border: 1pt solid white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 9.5pt;">Particulars</span></b></span></div> </td> <td style="width: 99.55pt; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: white white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 9.5pt;">Third quarter ending (by mid April)</span></b></span></div> </td> <td style="width: 119.2pt; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: white white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 9.5pt;">Corresponding previous year third quarter ending </span></b></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Paid up capital</span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">329,384</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">329,384</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Borrowings</span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">710,000</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">335,000</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Deposits</span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">3,059,446</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">2,3 71,753</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Investments</span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">189,835</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">139,468</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Loans and Advances</span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">2,451,804</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">2,168,906</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Net Profit</span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">27,196</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">41,964</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Non Performing Loan in percentage </span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">0.92%</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">0.49%</span></span></div> </td> </tr> </tbody> </table> <div align="right" style="text-align: right; text-indent: 0in;"> <i><span style="font-size: 7.5pt;">Source</span></i><span style="font-size: 7.5pt;">: ICFC Finance Limited</span></div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'ICFC Finance Limited has been largely successful in maintaining its liquidity while a number of financial institutions continue to face liquidity crunch. Sunil Pant, General Manager of.....', 'sortorder' => '309', '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' => '392', 'article_category_id' => '39', 'title' => 'Story Of NIDC's Turnaround (july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="margin-bottom: 0.0001pt; line-height: 120%; vertical-align: middle; text-align: justify;"> <span style="font-size: 14px;"><b><span style="line-height: 120%;">Shanta Bahadur Shrestha</span></b></span></div> <div style="margin-bottom: 0.0001pt; line-height: 120%; vertical-align: middle; text-align: justify;"> <span style="font-size: 14px;"><span style="line-height: 120%;">Chairman</span></span></div> <div style="text-align: justify;"> <span style="font-size: 14px;"><span style="line-height: 115%;">NIDC Board of Directors</span></span></div> <div style="text-align: justify;"> We are not in aggressive lending and what we have invested in the real estate sector is far below what is allowed by NRB.</div> <p>  </p> <div> <table cellpadding="0" cellspacing="0" hspace="0" style="width: 1px; height: 15px;" vspace="0"> <tbody> <tr> <td style="padding: 0in; text-align: justify;" valign="top">  </td> </tr> </tbody> </table> </div> <p style="text-align: justify;"> <span style="font-size: 9.5pt;">Nepal Industrial Development Corporation Ltd (NIDC), once a comatose public enterprise, has now turned around to become a vibrant company. It had an accumulated loss of Rs 1.41 billion in 2005-06, but it is now expecting a net profit of Rs 300 million in 2010-11. </span></p> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">“We are going to make profit this fiscal year and hopefully declare dividend also,†said Shanta Bahadur Shrestha, Chairman of NIDC Board of Directors and joint secretary at the Ministry of Finance, at the 53rd anniversary function of the corporation on June 15, 2011. Highlighting the recent achievements, company’s General Manager and Director Shivjee Roy Yadav noted that the company’s net worth per share that was a negative Rs 193.47 at the end of 2005-06 has now turned positive to Rs 192.87, by mid-April 2011.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">Behind the newly-found optimism is a long story of struggle and perseverance. Set up in 1959, this first development finance companybloomed till the early 1990s before sliding into a financial mess. Eventually, the government on February 24, 2004, decided to stop this public enterprise from extending any new loan and to focus on just recovering its investments. The plan was to ultimately liquidate the company.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">Though the government decision was made on the basis of a recommendation from PriceWaterhouseCoopers, the company’s management was finally able to convince the government that it can be revived and the government stands to lose if the company is liquidated. Then, a new decision was made by the government on March 2, 2009, that allowed the company to work as a deposit taking institution. Thus, the company started functioning as a bank and this change made the company rise from its deathbed and re-establish itself as a vibrant financial institution. NIDC commenced its banking service from February 8, 2010, and now it is a major provider of funds in the inter-bank market, Yadav claims. Meanwhile, the company focused on recovery and sold some of its investments in stocks. As a result, it fully repaid all the loans it had to pay to the Nepal Rastra Bank and the government. “This is indeed an achievement,†says Yadav, Had the government gone ahead with the liquidation as per the PriceWaterhoseCoopers recommendation, the Nepal Rastra Bank and the government would not have got their money back. Rather, they were required to inject additional capital to clear various other liabilities of the corporation.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">Today, NIDC has an authorised capital of Rs 1.20 billion of which Rs 600 million is issued and Rs 415 million is paid-up. Its non-performing loan has reduced to 75.6 percent by mid-April 2011 from 99.79 percent a year ago. This has further reduced to 70 percent by mid-June and the target is to reduce it further to 35 percent next year, says Yadav. This year’s revised estimate of the profit is lower than the initial estimate. The initial target was Rs 570 million but that could not be achieved as the plan to realise the loan of Himal Cement by selling the mortgaged assets could not go ahead. Similarly, the plan to sell the corporation’s shares in Nabil Bank and NIDC Capital Market could not implemented, explains Yadav. He expects to make these sales once the country’s property and share markets revive.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">Established on June 15, 1959, the company’s mission is to contribute to industrialisation of the country through industrial project financing. Initially, established as a corporation under a special law the Nepal Industrial Development Corporation Act 1959, it was later registered under the Company Act and in 2006 it was made a national level development bank under the Banks and Financial Institution Act 2006.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">From its beginning to mid-April 2004, NIDC invested more than Rs 6 billion in 1,520 industrial projects in different parts of the country. The company estimates that in those projects about 80,000 people received direct employment while 350,000 others got indirect employment.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">NIDC today offers its banking services from its head office in Kathmandu and two regional offices in Biratnagar and Pokhara. The plan is to start banking services also from the Nepalgunj and Dhangadhi offices with approval from the central bank. Meanwhile, the company has started ATM services by setting up an ATM station at the central office and the plan is to set up ATMs in other branches as well in other places of Kathmandu. 9 AGMs in One Go<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">One major recent development of the company is the AGM held on May 7, 2011. It is a major development because there has been no AGM for last nine years from 2001-02 through 2009-10. From the next year, the AGM will be regular, hopes Yadav. One major decision taken at the AGM is to change the company’s name into NIDC Bank Ltd, subject to approval from the relevant authority. <br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">Currently 99.26 per cent of the corporation’s ownership remains with the government while 0.74 per cent stakes are with the public. Therefore, the company’s shares are not traded in the stock exchange though it is listed there. Presenting the annual report to the shareholders in the May 7 AGM, the company’s chairman Shrestha informed about the plan to issue shares through further public offerings so as to increase its paid-up capital.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">Shrestha says, “We are not in aggressive lending and what we have invested in the real estate sector is far below what is allowed by NRB.†</span></div> <div style="text-align: justify;"> <span style="font-size: 9.5pt; line-height: 115%;">According to Shrestha, the company is also planning to offer services like 365 days banking, evening counter, Internet Banking, SMS Banking, Remittance Service, Mobile Banking among other new products. </span><span style="font-size: 6.5pt; line-height: 115%; color: rgb(237, 28, 36); letter-spacing: -0.05pt;">n</span></div> <div style="text-align: justify;">  </div> <div style="margin-top: 8.75pt; text-align: justify;"> <span style="font-size: 9pt;">Financial Statistics of NIDC as of third quarter of 2010/11</span></div> <div style="text-indent: 0in; text-align: justify;"> <i><span style="font-size: 6.5pt;">Rs in million</span></i></div> <table border="0" cellpadding="0" cellspacing="0" style="margin-left: 3.25pt; border-collapse: collapse;"> <tbody> <tr style="height: 3pt;"> <td rowspan="2" style="width: 86.15pt; border: 1pt solid white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">Particulars</span></b></span></div> </td> <td colspan="6" style="width: 224.45pt; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: white white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="299"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">Fiscal years</span></b></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">2005/06</span></b></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">2006/07</span></b></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">2007/08</span></b></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">2008/09</span></b></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">2009/10</span></b></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">2010/11 by mid April</span></b></span></div> </td> </tr> <tr style="height: 12pt;"> <td style="width: 86.15pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">Paid-up Capital</span></span></div> </td> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">415.8</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">415.8</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">415.8</span></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">415.8</span></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">415.8</span></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">415.8</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 86.15pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">Net Profit</span></span></div> </td> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(602.8)</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">87.5</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">797</span></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">172.2</span></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">354.5</span></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">87.4</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 86.15pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">Accumulated Profit (Loss)</span></span></div> </td> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(1416.2)</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(1347.3)</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(595.5)</span></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(459.3)</span></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(179.4)</span></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(109.5)</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 86.15pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">Reserves</span></span></div> </td> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">195.9</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">213.4</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">372.8</span></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">407.3</span></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">478.2</span></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">495.6</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 86.15pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">Networth/Share Rs</span></span></div> </td> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(293.46)</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(172.67)</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">46.44</span></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">87.48</span></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">171.86</span></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">192.87</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 86.15pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">Loan Investment</span></span></div> </td> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">1712.4</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">1466.8</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">1329.7</span></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">1258.5</span></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">1118.6</span></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">1273.6</span></span></div> </td> </tr> </tbody> </table> <div style="text-indent: 0in; text-align: justify;"> <i><span style="font-size: 6pt;">Source</span></i><span style="font-size: 6pt;">: NIDC Press Release on the 53rd anniversary day. </span></div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '2011-09-01', 'keywords' => '', 'description' => 'Nepal Industrial Development Corporation Ltd (NIDC), once a comatose public enterprise, has now turned around to become a vibrant company. It had an accumulated loss of Rs..........', 'sortorder' => '308', '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' => '311', 'article_category_id' => '39', 'title' => 'Wealth Exchange: The Business Of Patience', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-align: justify; text-indent: 0in;"> <b><span style="font-size: 8pt; line-height: 120%;"><img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/sanandan singh.jpg" style="width: 138px; height: 176px;" vspace="1" /><span style="color: rgb(178, 34, 34);">Sanandan Singh</span></span></b></div> <div style="text-align: justify; text-indent: 0in;"> <span style="color: rgb(178, 34, 34);"><span style="font-size: 7pt; line-height: 120%;">CEO</span></span></div> <div style="text-align: justify;"> <span style="color: rgb(178, 34, 34);"><span style="font-size: 7pt;">WEX</span></span></div> <div style="text-align: justify;"> <span style="color: rgb(178, 34, 34);">“We will make profits in a few years as we have not looked in the short term strategy. Our team has understood this and is committed to the vision of the company.â€</span></div> <div style="text-align: justify;"> <span style="color: rgb(178, 34, 34);"><br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;"> <span style="font-size: 12.5pt;">T</span><span style="font-size: 9.5pt;">he commodities exchange business is quite young in Nepal. However, the Wealth Exchange (WEX), the newest such exchange of the country is making big strides though it started business only about five months ago. Registered in March 2010, WEX began its operations from November 2010 as a spot exchange. It is the first spot exchange in Nepal where the number of futures exchanges is three. Sanandan Singh, the CEO of WEX said that the company entered the market at the right time. “This is our soft launching and the big one is yet to come’’, he added. The company is preparing to formally inaugurate its business amid a special function. Singh believes that something substantial like a good profit is required for an entry with a bang. “We are waiting for doing right thing at the right time,†he said.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">In the embryonic market that has just three commodities exchanges, WEX entered as the fourth company with a difference. Singh said that the Meta Trader 4 distinguishes the company from the rest. “Meta Trader 4 is a strong marketing tool for us,†Singh remarked. He explained the reasons for choosing the particular software as, “There is competition in the market and competitors have their own client and niche market. We wanted to introduce a product that is world renowned. And the software has helped to attract business for us.â€</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">WEX specialises in gold and silver. However, the company has the vision to expand its services further with various commodities. There are around 30 commodities traded across the globe. At WEX, gold and silver is virtually traded online with a margin, however, the company claims it can make physical delivery of gold and silver if the clients demand, subject to government regulation. “We have determined Rs 70,000 as the margin for a kilogram of gold which is a standard lot. For silver, the standard lot is 30 kg.†Recently, due to the demand of the investors, mini lot of 100 grams of gold has been introduced too.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">About choosing gold and silver for trading, Singh said, “In Nepal, awareness among the investors about commodities trading may further facilitate the investment climate and other products can be included in the long run. However, gold and silver are the most traded items in the world and known by all.â€</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Trading at WEX does not require bags of solid gold with you. Just a few clicks online and the job is done – thanks to the automated system. Clients make deposits online through the exchange’s banking partner Bank of Kathmandu and the amount is later transferred into the trading platform. Buying and selling to profits and losses are all counted and transferred online.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">There is a unique chain of communication between the company and the clients. The chain includes a clearing member which is in direct contact with WEX and that is followed by brokers and finally the clients. It is actually the brokers who make clients. The organisational communication adopted is vertical. Singh said, “We go down the line while they (clients and members) come up the line. Customers are not only of the brokers but also of the exchange.â€</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">WEX takes membership fees from clearing members and that is passed onto the brokers who may <img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/corporate focus1(1).jpg" style="width: 324px; height: 196px;" vspace="1" />pass this on to their customers. Singh said that the software is the most expensive part of operation of an exchange. He reveals that the company has already reached the breakeven point if the cost of software is excluded. </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Though the company is target oriented, Singh says there are no plans to make millions of rupees within a few months. Stating his company’s growth strategy he says, “We will make profits in a few years as we have not looked in the short term strategy. Our team has understood this and is committed to the vision of the company.†Singh’s principle is ‘Slow and steady wins the race.’ He said that the team is dedicated on strengthening the foundation. He claimed, “After laying the foundation stone, we have already risen above the ground. We are receiving feedback and we welcome criticism because it is a form of recognition too. The suggestion and feedback requested from us by the Securities Board of Nepal (SEBON) is an example of that.â€</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The company has marketed itself saying, ‘A majority of our clients will be in profit, provided they conduct a proper technical and fundamental analysis.’ Singh says the company won’t have any problem even if 100 per cent of its clients benefit. He defies the rule ‘someone has to lose when someone wins.’ Normally when a client makes profit, the exchange would be in loss. He clarifies, “We have managed the risk. Our philosophy is that clients may profit as much as they can. We are competent enough to pay them.†Singh said that the earning of the exchange is nominal. While 70 per cent of the commission of a standard lot is passed on to the brokers, 30 per cent is shared by the clearing member and the exchange. Currently, WEX’s objective is high turnover in low margin. The company has set the target of minimum trading of standard lots for a month.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">However, Singh presently sees limited encouragement among clients. “But we hope it will get better with time,†he said. According to Singh, though people have the money to invest they are reluctant to come into this sector due to their lack of knowledge about it. For that, the company has tied with Commodities Trading Institute for WEX certified courses for potential as well as existing clients and brokers. The company hopes to gain substantial momentum after some idea about this market is developed among the potential clients. When the number of brokers increases, the company receives software charge and membership fees which are the income of the company. </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Currently, there are around 100 clients and 16 brokers of WEX. The company has chosen to increase the clients by spreading knowledge about the commodities market and skills to do trading. Until now, the company has given orientation classes free of cost to 100 - 150 potential clients. The company considers this as an act of Corporate Social Responsibility even before starting to make any profits.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The company has plans to invest further in Corporate Social Responsibility (CSR) after it makes a strong foothold in the market. For now, the company likes to call its orientation classes and its responsible operation as CSR activities.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The company believes in good governance, transparency, decentralisation and system-run mechanism. Singh says, “We don’t believe in one man decision. It has to be a group decision always.†High moral ethics, integrity, discipline etc are must for anyone in the company. Currently, there are 12 staff members in WEX. “Our philosophy is that everyone in the office must have high degree of ethical standards, honesty and competency. ‘Salary is no bar for deserving candidates’ is our philosophy of human resource management and we guarantee a highly motivating career.â€</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">WEX does not feel any competition in the real sense. According to Singh, there is competition with three other exchanges but not in service, commission and platform. “We have monopoly as regards Meta Trader 4 and our efficient and professional standards,†he added.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Being a new entrant in the market, WEX has some challenges to defeat. Preconceived ideas that everyone will lose in the commodities trading has become the biggest challenge. “Brokers feel comfortable with old clients. They bargain unnaturally,†said Singh, “Limited knowledge and long term strategy are the main challenges we are facing now.â€</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The company believes steady growth is the best option for now considering the situation of the country. It is planning to expand its services beyond the Kathmandu Valley. Singh informed that there are already quite a few clients outside the capital. Therefore, expansion into major hubs like Biratnagar, Birgunj, Pokhara, Nepalgunj, Janakpur, Birtamod and Bhairahawa where the company sees immense potential, is in the pipeline. Similarly, WEX is focusing on increasing the number of brokers to 50 and clients to 1,000 in the near future. “We are quality focused. We look for clients who can spare their surplus money, but we don’t advise over stretching their expenses and over trading in the commodities market,†he explained.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The commodities market lacks the presence of regulatory authority and WEX strongly feels its requirement. Though there are directives, an Act is yet to be formulated. SEBON is proposed as the regulator by the Ministry of Finance. Singh said that an external regulator is needed for check and balance so that regular inspections are implemented and corrective measures are enacted by the exchanges as required by the regulator from time to time. Singh feels that the regulator can regulate the exchange companies and also help in developing the expertise of national and international standard. This sector is yet to be explored fully by the investors as opportunities are unlimited.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Though registered as a private limited company, WEX is working and looking forward to going public in the near future. It aims at being the premier commodities exchange in the country, managed by a highly professional and dedicated team for contributing towards the growth of this sector by disseminating knowledge and investment opportunities to investors. </span></div> <div style="text-align: justify;"> <span style="font-size: 9.5pt; line-height: 115%;">WEX is confident that the commodities market will grow tremendously and become popular in the days to come that open the new vista of investment and speculative trading to people in general. </span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> SWOT Analysis</div> <div style="text-align: justify;"> Strengths:</div> <div style="text-align: justify;"> • First Spot exchange in Nepal specialising in Gold and Silver</div> <div style="text-align: justify;"> • Huge capability to facilitate the most complex and demanding trading. The WEX Platform offers trading 24 hours a day throughout the trading week which is more than any other exchange in the country</div> <div style="text-align: justify;"> • The liquidity of trading is largest and most diverse. Ability to execute large purchases and sales orders quickly and efficiently</div> <div style="text-align: justify;"> • WEX market is fair, transparent and anonymous and its electronic trading platform offers the same opportunity for all participants</div> <div style="text-align: justify;"> • Good corporate governance with experienced team</div> <div style="text-align: justify;"> • First commodity exchange to introduce mobile trading</div> <div style="text-align: justify;"> • Contract does not expire in SPOT exchange unlike in future exchange</div> <div style="text-align: justify;"> Weaknesses:</div> <div style="text-align: justify;"> • Specialisation in two commodities. Unable to provide service to investors having interest in other commodities</div> <div style="text-align: justify;"> • Teething problems as WEX is in its initial stage</div> <div style="text-align: justify;"> • Unable to expand its potentials in the absence of a government regulator</div> <div style="text-align: justify;"> Opportunities:</div> <div style="text-align: justify;"> • Huge market potential</div> <div style="text-align: justify;"> • By-product of commodities market is not practised</div> <div style="text-align: justify;"> Threats:</div> <div style="text-align: justify;"> • Unstable political situation</div> <div style="text-align: justify;"> • Inadequate knowledge of commodities market</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Quick Facts</div> <div style="text-align: justify;"> • Incorporated at Company Registrar of Nepal on 18 March 2010</div> <div style="text-align: justify;"> • Came into operation from 11 Nov 2010</div> <div style="text-align: justify;"> • Number of Trading Members: 17</div> <div style="text-align: justify;"> • Number of active traders: More than 300</div> <div style="text-align: justify;"> • Strategic Bank: Bank of Kathmandu</div> <div style="text-align: justify;"> • Traded Commodities: Gold and Silver</div> <div style="text-align: justify;"> • Minimum Trading Size: 100 gm Gold and 5 Kg Silver at Rs 7,000 Margin</div> <div style="text-align: justify;"> • Trading Platform: Meta Trader 4</div> <div style="text-align: justify;"> • Spread (difference of bid and ask): 20 on Gold and 1 on Silver</div> <div style="text-align: justify;"> • Coverage outside the valley : 20 per cent</div> <div style="text-align: justify;"> • Average Monthly Transaction (standard lot): approximately 1,250</div> <div style="text-align: justify;"> • Average Monthly Transaction by number: 1,860</div> <div style="text-align: justify;"> • Average Monthly Transaction by individual investor: approx 6</div> <div style="text-align: justify;"> • Annual trading member target: 30</div> <div style="text-align: justify;"> • Annual target of active investors: 2,000</div> <div style="text-align: justify;"> • Annual target coverage outside Kathmandu Valley: 35 per cent of total</div> <div style="text-align: justify;"> <i><span style="font-size: 8pt;">Source</span></i><span style="font-size: 8pt;">: WEX</span></div> <div style="text-align: justify;">  </div>', 'published' => true, 'created' => '2011-06-03', 'modified' => '2011-06-03', 'keywords' => '', 'description' => 'The commodities exchange business is quite young in Nepal. However, the Wealth Exchange (WEX), the newest such exchange of the country is making big strides though it started business only about five months ago.', 'sortorder' => '234', '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' => '310', 'article_category_id' => '39', 'title' => 'Kist Bank’s Social Service', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-indent: 0in; text-align: justify;"> <span style="font-size: 13.5pt;"><img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/corporate focus.jpg" style="width: 204px; height: 183px;" vspace="1" />W</span>ith a network of 51 branches and 73 ATM outlets, Kist Bank Limited is slowly but surely inching towards becoming a premier bank. With an existing customer base of 300,000, the bank is focusing on providing faster and friendlier services. Kamal Prasad Gnawali, the Managing Director of the bank says, “Kist Bank stands for customers’ convenience and support. We always look forward to serve them by understanding their needs and designing tailored products.â€</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> Kist Merchant Banking and Finance was initially incorporated as a ‘C’ category financial institution in 2003 for undertaking limited banking activities. It started commercial banking activities as Kist Bank Limited from 7 May 2009. Starting with seven employees in 2003, it has 582 people in its ranks today. The bank has deposits to the tune of Rs 16 billion and loans of Rs 13 billion in current fiscal year 2010-11. In the last fiscal year 2009-10, the deposits and loans stood at Rs 15 billion and Rs 12.5 billion respectively.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> The bank is driven by values of efficiency in operations, integrity and a strong focus on catering the needs of every customer by offering high quality and cost effective products and services. The management team along with its dedicated employees operate in a highly automated environment. It has put in substantial efforts and investments in acquiring the best technologies available to build necessary banking infrastructure. The bank’s superior information technology and communication systems enable delivery of prompt and quality services.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: 0.1pt;">Due to its wide network of branches, a sizeable population has access to its banking services where most value added services come free of cost. Gnawali says that the transition to a full-fledged bank in 2009 was a major turning point in the company’s history. “It was a challenge in terms of manpower, market perception and expectations,†he admits. Having pioneered many products in Nepal’s financial sector, the bank these days does not pursue matters aggressively. It rather believes in a controlled business approach and focuses on individuals and SMEs as its clients.</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: 0.2pt;">A young bank with its employees averaging 26 years of age, it believes in a democratic style of working. The staff equation is well taken care of by maintaining a good balance between senior and junior employees. The human resource department at the bank conducts training every week to increase the efficiency of its workforce. Kist Bank believes in having a participative management and ensures easy access and direct approach among its employees. Gnawali was the First Runner Up at the prestigious MAN Awards 2010 under ‘Manager of the Year’ category. “Any award that I receive is because of the bank and not for me as an individual,†he says giving credit for his personal success to the bank’s management team. </span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <strong>Commitment to CSR</strong></div> <div style="text-align: justify;"> For Kist Bank, corporate social responsibility (CSR) has always been a top agenda. It means embracing responsibility for the impact of its activities on the environment, consumers, employees, communities, stakeholders and the public at large. Gnawali explains, “It helps us manage our business responsibly and sensibly for long term sustainable banking.â€</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <strong>Some CSR commitments of the bank include:</strong></div> <div style="text-indent: 0in; text-align: justify;"> <b> </b></div> <div style="text-indent: 0in; text-align: justify;"> <b><span style="">Cash Assistance to Cyclist Puskar Shah</span></b></div> <div style="text-align: justify;"> The bank honoured cyclist Puskar Shah as its goodwill ambassador and assisted him during his world cycling tour of 150 countries. It also provided a cash assistance of Rs 442,417 to Shah for his expedition to Mount Everest. Shah took to the summit the national flags of the countries he visiteda as well as a banner with the Kist Bank’s logo.</div> <div style="text-indent: 0in; text-align: justify;"> <b> </b></div> <div style="text-indent: 0in; text-align: justify;"> <b><span style="">Society of Economic Journalists (SEJON)</span></b></div> <div style="text-align: justify;"> The bank has provided a cash assistance of Rs 500,000 to SEJON to establish a revolving fund to provide annual award to three economic journalists. The bank hopes that this award will be an additional incentive to the journalists.</div> <div style="text-indent: 0in; text-align: justify;"> <b> </b></div> <div style="text-indent: 0in; text-align: justify;"> <b><span style="">Traffic Awareness Programme</span></b></div> <div style="text-align: justify;"> With the objective to raise the awareness among the commuters and drivers of public transport vehicles in urban areas, the bank has provided an assistance of Rs 240,000 to create 20,000 traffic awareness stickers. These stickers were pasted on public vehicles in coordination with Namuna Sadan and Media Agency.</div> <div style="text-indent: 0in; text-align: justify;"> <b> </b></div> <div style="text-indent: 0in; text-align: justify;"> <b><span style="">Cataract Surgery</span></b></div> <div style="text-align: justify;"> The bank provided Rs 12,500 for cataract surgery of five ophthalmic patients in an eye camp organised with the initiation of Reyukai Masunga Eye Hospital, Banepa.</div> <div style="text-indent: 0in; text-align: justify;"> <b> </b></div> <div style="text-indent: 0in; text-align: justify;"> <b><span style="">Gaurishankar Campus</span></b></div> <div style="text-align: justify;"> The bank provided cash and kind equivalent to Rs 84,000 for an enlightening discourse programme on Bhagawat Geeta aimed at collecting funds to convert Gaurishankar College at Charikot, Dolakha into a University.</div> <div style="text-indent: 0in; text-align: justify;"> <b> </b></div> <div style="text-indent: 0in; text-align: justify;"> <b><span style="">Street Lights</span></b></div> <div style="text-align: justify;"> Four street lights worth Rs 24,000 were installed at main road in Kalanki, Kathmandu in coordination with LOYUS, an NGO.</div> <div style="text-indent: 0in; text-align: justify;"> <b> </b></div> <div style="text-indent: 0in; text-align: justify;"> <b><span style="">River Conservation and Tree Plantation</span></b></div> <div style="text-align: justify;"> Under the initiation of National Nature Conservation Fund, the bank provided Rs 15,000 for planting 100,000 trees on the banks of Bagmati River.</div> <div style="text-indent: 0in; text-align: justify;"> <b> </b></div> <div style="text-indent: 0in; text-align: justify;"> <b><span style="">Children Memorial Monument and Garden</span></b></div> <div style="text-align: justify;"> A financial assistance of Rs 200,000 was made to Vishwo Shanti Prachar Manch, an NGO, for the construction of children memorial monument and garden near the entrance of Tribhuvan International Airport.</div> <div style="text-indent: 0in; text-align: justify;"> <b> </b></div> <div style="text-indent: 0in; text-align: justify;"> <b><span style="">Plans</span></b></div> <div style="text-align: justify;"> The bank says it has always been giving prime focus on physical infrastructure and human resource development. It has laid emphasis on acquiring state-of-the-art information technology to ensure the most secure transaction and remain competitive. It has enhanced its distribution outlet to reach un-banked areas and serve people with banking services.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> A few key plans of the bank are:</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Having acquired VISA’s Associate Membership in 2011, the bank is set to launch VISA accredited credit and debit cards this year. Presently, the bank has 150,000 debit card holders on its rolls.</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Last year, the company focused on expansion and building internal strength. Situation permitting and with a favourable environment, the bank’s dream this year is to turn multinational and extend its banking services to countries that have sizeable Nepali Diaspora.</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Increase customer base to 500,000 from the present 300,000.</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> The bank currently provides services to customers from its own buildings in Anamnagar, Birtamod, Damak, Biratnagar and Narayangarh. It wants to have own bank buildings at all possible branch locations. A multi-storey building which will house the bank’s main branch and head office is presently under construction at Anamnagar, Kathmandu.</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Too many players in the market have resulted in quality manpower crunch. To counter this, the bank plans to develop a competitive workforce to undertake higher responsibilities. Its training and development department bears the responsibility to train qualified individuals hired by the bank.</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Expand its remittance business making it accessible to a larger section of the population.</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Develop and launch innovative and customer-friendly products to meet the needs of people deprived of banking services. The bank has a research and development wing that carries out research effecting this direction.</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Support the investors to start large infrastructure development projects in the country.</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> The bank also plans to promote micro finance to develop self sustainable enterprises and make individuals self-reliant.</div> <div style="text-align: justify;"> <strong>Vision and Mission</strong></div> <div style="text-align: justify;"> Kist Bank’s vision is to become the best bank based on operational excellence and superior financial performance. It remains open to the idea of a merger. The bank aspires to become a leading bank by providing best quality financial products and services to its customers, enhancing shareholders value, creating excellent growth opportunity for its employees and contributing to the economic prosperity of the country. </div> <div style="text-align: justify;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 120%; vertical-align: middle;"> <b><span style="font-size: 8pt; line-height: 120%;"><img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/kamal prasad.jpg" style="width: 140px; height: 186px;" vspace="1" />Kamal Prasad Gnawali</span></b></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 120%; vertical-align: middle;"> <span style="font-size: 7pt; line-height: 120%;">Managing Director</span></div> <div style="text-align: justify;"> <span style="font-size: 7pt; line-height: 115%;">Kist Bank</span></div> <div style="text-align: justify;"> “The transition to a full-fledged bank in 2009 was a major turning point in the company’s history. It was a challenge in terms of manpower, market perception and expectations,â€</div> <div style="text-align: justify;"> <span style="color: rgb(165, 42, 42);"><br /> </span></div> <div style="text-align: justify;"> <span style="color: rgb(165, 42, 42);">Kist Bank Briefs</span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> The authorised capital is Rs 5 billion and the issued and paid-up capital Rs 2 billion.</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> 60 per cent of the paid-up capital is held by the promoters and remaining 40 per cent by the general public.</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> The shares of the bank are listed at Nepal Stock Exchange Limited (NEPSE) as ‘A’ category shares.</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; line-height: 115%; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span><span> The seven-member Board of Directors (BOD) has three Directors representing the promoters, two representing the general public and one representing the Professional Director.</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> SWOT Analysis</div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">Strengths: </span></b></div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Young and career-oriented workforce</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span>Good relations between Promoters and Directors</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Quick implementation of ideas</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> A sound infrastructure</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Impressive range of products</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Promoters’ trust in the institution</div> <div style="text-align: justify;"> <b><span style="">Weaknesses:</span></b></div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">* </span>Comparatively new entrant in the market</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Limited exposure in corporate banking</div> <div style="text-align: justify;"> <b><span style="">Opportunities:</span></b></div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Foray into corporate banking</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Further business expansion and development</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Build on existing infrastructure</div> <div style="text-align: justify;"> <b><span style="">Threats:</span></b></div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Mushrooming competitors</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Political instability</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; line-height: 115%; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span>Unhealthy competition</div>', 'published' => true, 'created' => '2011-06-03', 'modified' => '2011-06-03', 'keywords' => '', 'description' => 'With a network of 51 branches and 73 ATM outlets, Kist Bank Limited is slowly but surely inching towards becoming a premier bank. With an existing customer base of 300,000, the bank is focusing on providing faster and friendlier services.', 'sortorder' => '233', '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' => '265', 'article_category_id' => '39', 'title' => 'Healthcare Technologies: Promoting Personal Wellbeing', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-align: justify;"> <b><img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/Vineet Kumar Tulshyan.jpg" style="width: 218px; height: 168px;" vspace="2" />Vineet Kumar Tulshyan</b></div> <div style="text-align: justify;"> Director</div> <div style="text-align: justify;"> Healthcare Technologies Pvt Ltd</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> “In Nepal, spreading awareness about personal healthcare is crucial. In order to live healthy, people must use quality products as it helps them know where they stand medically and take necessary precautions,in time.â€</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Incorporated in 2001, Healthcare Technologies Pvt Ltd has come a long way since. With an annual turnover of Rs 80 million, it has targeted a growth of 15-20 per cent for 2011. Beginning with importing medical equipments in 2001, the company set up a Personal Healthcare Division in 2008. “Given the immense potential for its market in Nepal, we hope that the industry size grows by 1000 per cent,†says Vineet Kumar Tulshyan, the Director of the company. He adds that this tremendous growth can be realised by spreading awareness about personal healthcare. While the expected market is worth a whopping Rs 500 crores, Tulshyan says the current sales of personal healthcare products in Nepal are mere Rs 2-3 crores.<br />  </div> <div style="text-align: justify;"> Run by a group of young and experienced professionals with core interests in the healthcare sector, the company focuses its efforts in specialised areas. The primary objective of Healthcare Technologies is to deliver qualitative medical products and services to the health professionals in Nepal. It has been active in the healthcare sector in different forms and areas. The company imports and distributes medical and surgical equipments, surgical goods, personal healthcare items, laboratory products etc. Its medical equipments are received well in the private sector entities while it is the market leader in personal healthcare products. “Our Microlife range of products enjoy 50 per cent market share,†informs Tulshyan.<br />  </div> <div style="text-align: justify;"> <img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/corporate focus1.jpg" style="width: 266px; height: 166px;" vspace="2" />Healthcare Technologies caters its products to government institutes and organisations, pharmaceuticals companies, hospitals, medical colleges, nursing homes, INGOs and NGOs among others. It has a nationwide distribution network which carries out the work in the most professional manner possible. With its distribution channel in place all over Nepal, it has registered a rapid growth in the last three years. The company had a group turnover (Medical Division) of approx US$ 1.7 million in the last financial year, a growth of nearly 80 per cent. Besides the Kathmandu Valley, the company distributes its products through its dealer network in Butwal, Bhairahawa, Pokhara and Birgunj in central Nepal. Similarly, it has dealers in Nepalgunj in western Nepal and Janakpur, Biratnagar and Dharan in eastern Nepal. The company also indulges in direct marketing to hospitals and nursing homes.<br />  </div> <div style="text-align: justify;"> A total of 15 people are employed with the company under the medical division. Tulshyan says, “I have inculcated a culture in my colleagues that if the company grows, it benefits the employees too.†Healthcare Technologies was recognised by the Nepal Radiological Society in 2009 for its contributions. As part of its corporate social responsibility initiative, it has donated equipments such as Blood Pressure Machines and Thermometers to NGOs and charity hospitals. The company’s mission is to promote personal healthcare system in Nepal. Tulshyan reiterated that spreading awareness is crucial. “In order to live healthy, people must use quality products as it helps them know where they stand medically and take necessary precautions, in time,†says he.<br />  </div> <div style="text-align: justify;"> Tulshyan owes his company’s success to being honest with products and customers. Irrespective of temptations, he does not recommend sub-standard products, he explains. As part of the company’s future endeavours, he plans to manufacture surgical products and start exports in five years time if the government rules and regulations favour the business environment. He says that government support is absolutely important for the sector to flourish.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <strong>Healthcare Technologies and its sister concerns</strong></div> <div style="text-align: justify;"> 1)<span> Healthcare Technologies Pvt Ltd:</span> Exclusive Distributor of</div> <div style="text-align: justify;"> <span> <b>DeVilbiss Healthcare –</b> Portable Oxygen Concentrator and Respiratory Items (5 litre Compact Oxygen Concentrator, IGO Portable Oxygen Concentrator, IFill Personal Oxygen Station, CPAP & Bilevel CPAP)</span></div> <div style="text-align: justify;"> <b>Microlife AG (Switzerland) –</b> Hypertension and Fever Management Products (Digital Blood Pressure Machine, Aneroid Blood Pressure Machine & Stethoscope, Digital Thermometer)</div> <div style="text-align: justify;"> <b> Bayer HealthCare – </b>Diabetic Care Division</div> <div style="text-align: justify;"> <b>AMPall (Korea) – </b>Syringe and Infusion Pumps (Syringe Pump SP-8800, Infusion Pump IP-7700)</div> <div style="text-align: justify;"> <span> <b>Mitsubishi Electric – </b>Video Thermal Printer and Paper</span></div> <div style="text-align: justify;"> 2)<span> Sun Medical Concern:</span> Exclusive Distributor of</div> <div style="text-align: justify;"> <b>GE Healthcare – </b>Technologies (Medical Equipments)</div> <div style="text-align: justify;"> <b>GE Healthcare – </b>Diagnostics (Contrast Media)</div> <div style="text-align: justify;"> 3) Sun Exim:Manufacturer, Importer and Exporter of Medical Recording Paper</div> <div style="text-align: justify;"> 4)<span> Technical Associates Services Pte Ltd:</span> Exclusive Distributor of</div> <div style="text-align: justify;"> <b>Hitachi Air Compressor</b></div> <div style="text-align: justify;"> <b> Thermax Ltd </b>(India)</div> <div style="text-align: justify;"> <b> TAS Medical Gas System </b></div> <div style="text-align: justify;"> <b> Grundfos </b>(Denmark)</div> <div style="text-align: justify;"> 5)<span> Care Plus:</span>Branded Personal Healthcare Product showroom in the heart of Kathmandu City</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> SWOT Analysis</div> <div style="text-align: justify;"> Strengths</div> <div style="text-align: justify;"> Ø Quality of Products</div> <div style="text-align: justify;"> Ø Immediate After Sales Service</div> <div style="text-align: justify;"> Ø Engineer available on Hotline</div> <div style="text-align: justify;"> Ø Competitive Prices</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Weaknesses</div> <div style="text-align: justify;"> Ø Belief in honesty (Tulshyan says he doesn’t bribe to get business)</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Opportunities</div> <div style="text-align: justify;"> Ø Spreading awareness</div> <div style="text-align: justify;"> Ø Small health centres outside Kathmandu Valley</div> <div style="text-align: justify;"> Ø Largely unexploited market</div> <div style="text-align: justify;"> Ø Free BP check up camps in cities and small towns</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Threats</div> <div style="text-align: justify;"> Ø Low quality products</div> <div style="text-align: justify;"> Ø Unhealthy competition</div> <div style="text-align: justify;">  </div>', 'published' => true, 'created' => '2011-04-27', 'modified' => '0000-00-00', 'keywords' => '', 'description' => '“In Nepal, spreading awareness about personal healthcare is crucial. In order to live healthy, people must use quality products as it helps them know where they stand medically and take necessary precautions,in time.â€', 'sortorder' => '191', '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' => '264', 'article_category_id' => '39', 'title' => 'CG Education:Taking Education Beyond Classroom', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-align: justify;"> <b><img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/Bhushan Gurung.jpg" style="width: 197px; height: 141px;" vspace="2" />Bhushan Gurung</b></div> <div style="text-align: justify;"> GM</div> <div style="text-align: justify;"> CG Education</div> <div style="text-align: justify;"> “We believe in a system which is holistic and all encompassing. We envision learning which is self motivated, pragmatic and related to the present context. Our mission is to build an education brand synonymous with quality, scale and dynamism in Nepal.â€</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Encouraged by its spectacular growth in recent times, CG Education aims to have 10,000 students by 2015 under its umbrella. It encompasses schools from pre-school to mainstream schooling under both CBSE and HSEB boards. Ranging from kindergarten to post-graduate level, it plans to expand its reach and create facilities at all major cities in the country. Bhushan Gurung, the GM of CG Education asserts, “We believe in a system which is holistic and all encompassing. We envision learning which is self motivated, pragmatic and related to the present context. Our mission is to build an education brand synonymous with quality, scale and dynamism in Nepal.â€</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> The organisational vision is to be an integral part of the educational revolution and deliver quality to its students. “Our contribution will not only synergise the vibrant educational sector of the nation but will also activate others to follow suit,†adds Gurung. It was part of the strategic plan of Chaudhary Group, the parent company, to balance its investment portfolio between manufacturing and service sectors. CG Education is one venture that strengthens the group’s foray in the service sector where it sees a tremendous growth potential. More importantly, the society at large – students, government and the nation – will benefit from this gigantic effort.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> CG Education’s investment in its present portfolio of schools, colleges and institutes is over Rs 100 crores. This is spread over its flagship ‘The Chandbagh School’ with likely additions in Pokhara , Butwal and the ‘DPS School’ in Birgunj. The latest entrant under its flagship is ‘The Chandbagh Pre School’, a Montessori system based school for children up to six years of age. It envisages acquiring about 25 schools and institutions and bring them under the CG Education fold. The organisation also plans to work on a public-private partnership with Nepal Government on operating many government educational institutions. It hopes that this will result in a total enhancement of quality of these institutions in terms of faculty, infrastructure and management.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Chaudhary Group believes that high quality affordable education is the key to Nepal’s development. Based on the experience gained from running The Chandbagh School successfully in Kathmandu and with a desire to replicate and move to the next level, it entered into a joint venture with Manipal K-12 Education. The venture offers management services to existing and new schools under the brand name CG-Manipal Schools. It also offers <img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/cg edu.jpg" style="width: 349px; height: 164px;" vspace="2" />ICT-based School learning solutions and tutorials. “The CG-Manipal Schools is a logical extension of the Manipal Group’s strength in education and CG’s new initiatives in the field of education,†says Gurung. The schools are designed to use the right combination of technology and pedagogy for an effective learning process. Manipal K-12 is part of Pearson Education, the largest educational resource providing organisation in the world. In recent times, CG-Manipal has acquired the highly successful Campion Institutions namely Campion School-Lagankhel, Campion Academy-Lagankhel, Campion Kathmandu Higher Secondary School-Gahanapokhari and Campion College-Kupandole.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <strong><i>Digi</i> Classrooms</strong></div> <div style="text-align: justify;"> Involved in various educational activities in Nepal since 1996, CG Education has now initiated efforts to establish <i>Digi</i> Classrooms in the educational institutions of the country. It is a cognitive learning approach and is a widely accepted theory on the learning process. “CG Education is now taking an initiative to establish <i>Digi</i> Classrooms in the educational institutions of Nepal,†Gurung proudly states. CG Education wanted to introduce a new approach where students can understand better and retain new information and hence, the effort. <i>Digi</i> Class’s multimedia contents include audiovisual aids, demonstrations, simulations, rhymes, games, activity sheets, eBooks, 3D interactivity, and patterns which help teachers teach the students in a better way and make them understand better. The content support for digital classes is from Manipal K-12. The curriculum is as per the needs and requirements of boards such as CBSE and SLC/HSEB. The product is available in a hassle-free way under Single Window Service.<br />  </div> <div style="text-align: justify;"> The schools associated with CGEducation have already implemented ICT-enabled classes.<br />  </div> <div style="text-align: justify;"> <strong>CG Polytechnic</strong></div> <div style="text-align: justify;"> With the intention to develop skilled human resource for Nepali Industries and for better employment opportunities, CG Polytechnic aspires to be the backbone of country’s skill inventory. The Chaudhary Group of industries and Manmohan Memorial Polytechnic (MMP) have jointly launched a technical training programme at CG’s industrial village - CUG in Nawalparasi from September 2009 offering technical courses on mechanical and industrial faculties. The training includes both theory and practical classes in various technical subjects which is tailor made to meet industrial requirement. The main objective of the training is to bring significant improvement in human skill matrix of the organisation.<br />  </div> <div style="text-align: justify;"> CG Polytechnic is building its capacity to diversify into food technology, accountancy and many other sectors on the need assessment. To be more customer-oriented, it reaches different relevant stakeholders for need analysis as well as maintaining quality of education. In the very near future, CG Polytechnic will become a landmark where technical skills get honed to the highest level.<br />  </div> <div style="text-align: justify;"> <strong>Accreditation and Affiliation</strong></div> <div style="text-align: justify;"> CG Education wants to contribute in all streams of education with the aim to be acknowledged as an institution with complete educational solution. Apart from managing schools and colleges, CG Education is involved in the vocational sector as well. With this objective, it has joined hands with renowned educational institutions of the world. Its international affiliations and accreditations include CBSE Board, ‘A’ Level Cambridge University besides the joint venture with Manipal K-12. CG Education’s association with other educational institutions is intended to derive quality from their years of experience in mainstream education. It is also in the process of obtaining accreditation and affiliation with ISO, IB, ETS, ESOL and other renowned educational institutions and agencies.</div> <p style="text-align: justify;"> CG Education’s ultimate vision and mission is to impart world class holistic education and produce educated citizens equipped to meet international standards.</p>', 'published' => true, 'created' => '2011-04-27', 'modified' => '0000-00-00', 'keywords' => '', 'description' => '“We believe in a system which is holistic and all encompassing. We envision learning which is self motivated, pragmatic and related to the present context. Our....', 'sortorder' => '190', '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' => '263', 'article_category_id' => '39', 'title' => 'Leon Motors:Recreating Mitsubishi Magic', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-align: justify;"> <b><img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/Ashish Shrestha.jpg" style="width: 246px; height: 176px;" vspace="2" />Ashish Shrestha</b></div> <div style="text-align: justify;"> Executive Chairman</div> <div style="text-align: justify;"> Leon Motors Private Limited</div> <div style="text-align: justify;"> “A little over a decade ago, Mitsubishi Pajero was the synonym for an SUV (Sports Utility Vehicle). That perception changed during the quiet period of eight years but we hope to bring back the lost glory of yesteryears.â€</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Leon Motors Private Limited is the authorised sub-distributor in Nepal for Mitsubishi Motors Corporation, Japan and Mitsubishi Fuso Group, Japan. The company started importing Mitsubishi vehicles in 2008 and has sold over 150 units so far. 2010 was its most productive year in which it sold 70 units. The vehicles sold by the company fall on different price points ranging between Rs 4 million and Rs 12 million.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Leon Motors is the brainchild of its dynamic Executive Chairman Ashish Shrestha. Coming from a family that has traditionally dealt in gold for generations, Shrestha holds an MBA degree from American InterContinental University in United Kingdom. After returning to Nepal in 2006, he wanted to establish a business that suited his personality and justified his management acumen. And thus, Leon Motors came into being in 2007. It is currently focused on reviving the brand image of Mitsubishi Motors. The brand lost its charm and took a beating in the Nepali market due to non-availability of new models from 1998 till 2006. Shrestha says, “A little over a decade ago, Mitsubishi Pajero was the synonym for an SUV (Sports Utility Vehicle). That perception changed during the quiet period of eight years but we hope to bring back the lost glory of yesteryears.†He believes that 236 per cent duty on importing vehicles is astronomically high and plagues Nepali automobile market to a large extent. The company plans to revive Mitsubishi Fuso trucks and buses in 2011 to achieve its targeted growth of 10 per cent.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Shrestha rues the unhealthy competition that exists in the automobile market. According to him, a number of automobile companies in Nepal under-invoice their transactions which helps them to dodge the tax and reduce the retail price or increase their profit. He strongly believes that this unethical practice needs to be stopped as it creates unfair competition in the market. To make his point strong, Shrestha proudly shows a certification from TRACE Inc, a US based internationally recognised organisation promoting transparency and anti-bribery compliance in international business transactions.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> The company practices an ‘open door policy’ where the employees have direct access to Shrestha for any matter they need to discuss, be it a suggestion or a complaint. An outsider might as well feel that it’s a family run business. That’s the level of camaraderie which exists between the employees at Leon Motors. As part of its CSR (Corporate Social Responsibility) initiative, the company supports an NGO, Society Developer Nepal with its endeavour in providing education for underprivileged children.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Leon Auto Works is the sole authorised after-sales and service centre for Mitsubishi Motors Corporation and Mitsubishi Fuso Group. Besides this servicing arm of Leon Motors Private Limited, there are a number of group companies <i>(see box)</i>.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> This group of businesses employs more than 50 people on a permanent basis and considers itself blessed to have a dedicated workforce, many of whom have been involved in their jobs for years now. Shrestha believes that the market is circled with inflated prices, for example, unreal values of real estate holdings. He adds that this coupled with political instability are the major reasons behind people refraining from making investments in the country. On an optimistic note, however, the group plans to enter hospitality business by establishing boutique hotels. It is currently scouting for properties in Kathmandu and Pokhara and seeks to contribute towards Nepal’s tourism prospects. On a personal note, Shrestha has the burning desire in him to bring more hydropower projects to Nepal. He hopes to succeed in convincing investors to do so as it promises to put the country back on track to attain sustainable development. n</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Sister concerns of Leon Motors Pvt Ltd</div> <div style="text-align: justify;"> <b>1. Leon Global Private Limited (Trading) </b></div> <div style="text-align: justify;"> A successful trading house, it has represented an impressive list of international organisations on turnkey projects in Nepal. The company promotes development related projects in the tourism and civil aviation sector, establishment of industries, construction of hydropower projects, supply of communication equipments etc to Nepalese Army, Nepal Telecom and Civil Aviation Authority of Nepal and supply of construction equipments to the Ministry of Physical Planning & Works among others. It is extensively involved in liaison work and promotional activities and provides complete local support during pre and post tendering periods.<br />  </div> <div style="text-align: justify;"> <b>2. Leon Hager International Private Limited (Distribution)</b></div> <div style="text-align: justify;"> <span> It is into distribution business representing various international beverage companies around the world. It currently imports and distributes alcoholic and non alcoholic brands such as ‘Nite’, a ready-to-drink (RTD) product from Thai Spirit Industry Co Ltd, Thailand; ‘Ignite’, a vodka based RTD product from Ignite Corp Pty Ltd, Australia; ‘Jugular’ and ‘Rock’ energy drinks from Jugular Global Pacific Ltd, Australia; ‘Victoria Bitter’ – Australia’s highest selling beer – popularly known as VB from Foster’s Group and rich and robust cooking wines from Australia and France among other European countries.<br /> <br /> </span></div> <div style="text-align: justify;"> <b>3. Green City Development Private Limited (Township Development)</b></div> <div style="text-align: justify;"> This company was established in 2007 along with the leading business houses to develop first-of-a-kind township within the Kathmandu Valley. It plans to build a township covering approximately 387 acres of land with all modern amenities one can think of. Currently, the company is busy purchasing land at the site of the planned project. While it hopes to complete its land acquisition deals by this year end, the project plan and design is being prepared by a Singapore-based firm.<br />  </div> <div style="text-align: justify;"> <b>4. Ivory International Private Limited (Construction)</b></div> <div style="text-align: justify;"> <span> Involved in construction business, it has tied up with a leading Chinese construction company, China Railway Engineering Group Co Ltd. This joint venture has been constructing various projects that include commercial buildings, hospitals, hotels, apartment buildings, super malls, roads, bridges, hydropower plants and many more.</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> SWOT Analysis</div> <div style="text-align: justify;"> <b>Strengths </b></div> <div style="text-align: justify;"> *Strong management team</div> <div style="text-align: justify;"> *Prime location (Shantinagar, New Baneshwor)</div> <div style="text-align: justify;"> *Famous brand name</div> <div style="text-align: justify;"> * Innovative ideas</div> <div style="text-align: justify;"> <b>Weaknesses</b></div> <div style="text-align: justify;"> * Branding hiatus between 1998-2006</div> <div style="text-align: justify;"> * Lack of a state-of-the-art showroom</div> <div style="text-align: justify;"> <b>Opportunities</b></div> <div style="text-align: justify;"> * Impending expansion</div> <div style="text-align: justify;"> * Sports models</div> <div style="text-align: justify;"> (small hatchback cars by 2011 end)</div> <div style="text-align: justify;"> <b>Threats</b></div> <div style="text-align: justify;"> *Too many players in the market</div> <div style="text-align: justify;"> * Unhealthy competition</div> <div style="text-align: justify;"> * Competitors’ prices</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Mitsubishi Products in Nepal</div> <table border="1" cellpadding="1" cellspacing="1"> <tbody> <tr> <td style="text-align: justify;" width="28"> *</td> <td width="172"> <div style="text-align: justify;"> Mitsubishi Pajero</div> </td> </tr> <tr> <td width="28"> <div style="text-align: justify;"> *</div> </td> <td width="172"> <div style="text-align: justify;"> Pajero Sport</div> </td> </tr> <tr> <td width="28"> <div style="text-align: justify;"> *</div> </td> <td width="172"> <div style="text-align: justify;"> Outlander</div> </td> </tr> <tr> <td width="28"> <div style="text-align: justify;"> *</div> </td> <td width="172"> <div style="text-align: justify;"> Active Smart X-SUV (ASX)</div> </td> </tr> <tr> <td width="28"> <div style="text-align: justify;"> *</div> </td> <td width="172"> <div style="text-align: justify;"> L200 Sportero</div> </td> </tr> <tr> <td style="text-align: justify;" width="28"> *</td> <td width="172"> <div style="text-align: justify;"> L300</div> </td> </tr> <tr> <td style="text-align: justify;" width="28"> *</td> <td width="172"> <div style="text-align: justify;"> Lancer Ex</div> </td> </tr> <tr> <td style="text-align: justify;" width="28"> *</td> <td width="172"> <div style="text-align: justify;"> Rosa</div> </td> </tr> <tr> <td width="28"> <div style="text-align: justify;"> *</div> </td> <td width="172"> <div style="text-align: justify;"> Heavy Duty Trucks & Buses </div> </td> </tr> </tbody> </table> <p style="text-align: justify;">  </p>', 'published' => true, 'created' => '2011-04-27', 'modified' => '0000-00-00', 'keywords' => '', 'description' => '“A little over a decade ago, Mitsubishi Pajero was the synonym for an SUV (Sports Utility Vehicle). That perception changed during the quiet period of eight years but we hope to bring back the lost glory of yesteryears.â€', 'sortorder' => '189', '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' => '211', 'article_category_id' => '39', 'title' => 'BOK: Changed Focus', 'sub_title' => '', 'summary' => null, 'content' => '<p> <!--[if gte mso 9]><xml> <w:WordDocument> <w:View>Normal</w:View> <w:Zoom>0</w:Zoom> <w:TrackMoves/> <w:TrackFormatting/> <w:PunctuationKerning/> <w:ValidateAgainstSchemas/> <w:SaveIfXMLInvalid>false</w:SaveIfXMLInvalid> <w:IgnoreMixedContent>false</w:IgnoreMixedContent> <w:AlwaysShowPlaceholderText>false</w:AlwaysShowPlaceholderText> <w:DoNotPromoteQF/> <w:LidThemeOther>EN-US</w:LidThemeOther> <w:LidThemeAsian>X-NONE</w:LidThemeAsian> <w:LidThemeComplexScript>X-NONE</w:LidThemeComplexScript> <w:Compatibility> <w:BreakWrappedTables/> <w:SnapToGridInCell/> <w:WrapTextWithPunct/> <w:UseAsianBreakRules/> <w:DontGrowAutofit/> <w:SplitPgBreakAndParaMark/> <w:DontVertAlignCellWithSp/> <w:DontBreakConstrainedForcedTables/> <w:DontVertAlignInTxbx/> <w:Word11KerningPairs/> <w:CachedColBalance/> </w:Compatibility> <m:mathPr> <m:mathFont m:val="Cambria Math"/> <m:brkBin m:val="before"/> <m:brkBinSub m:val="--"/> <m:smallFrac m:val="off"/> <m:dispDef/> <m:lMargin m:val="0"/> <m:rMargin m:val="0"/> <m:defJc m:val="centerGroup"/> <m:wrapIndent m:val="1440"/> <m:intLim m:val="subSup"/> <m:naryLim m:val="undOvr"/> </m:mathPr></w:WordDocument> </xml><![endif]--><!--[if gte mso 9]><xml> <w:LatentStyles DefLockedState="false" DefUnhideWhenUsed="true" DefSemiHidden="true" DefQFormat="false" DefPriority="99" LatentStyleCount="267"> <w:LsdException Locked="false" Priority="0" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Normal"/> <w:LsdException Locked="false" Priority="9" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="heading 1"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 2"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 3"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 4"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 5"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 6"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 7"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 8"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 9"/> <w:LsdException Locked="false" Priority="39" Name="toc 1"/> <w:LsdException Locked="false" Priority="39" Name="toc 2"/> <w:LsdException Locked="false" Priority="39" Name="toc 3"/> <w:LsdException Locked="false" Priority="39" Name="toc 4"/> <w:LsdException Locked="false" Priority="39" Name="toc 5"/> <w:LsdException Locked="false" Priority="39" Name="toc 6"/> <w:LsdException Locked="false" Priority="39" Name="toc 7"/> <w:LsdException Locked="false" Priority="39" Name="toc 8"/> <w:LsdException Locked="false" Priority="39" Name="toc 9"/> <w:LsdException Locked="false" Priority="35" QFormat="true" Name="caption"/> <w:LsdException Locked="false" Priority="10" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Title"/> <w:LsdException Locked="false" Priority="1" Name="Default Paragraph Font"/> <w:LsdException Locked="false" Priority="11" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Subtitle"/> <w:LsdException Locked="false" Priority="22" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Strong"/> <w:LsdException Locked="false" Priority="20" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Emphasis"/> <w:LsdException Locked="false" Priority="59" SemiHidden="false" UnhideWhenUsed="false" Name="Table Grid"/> <w:LsdException Locked="false" UnhideWhenUsed="false" Name="Placeholder Text"/> <w:LsdException Locked="false" Priority="1" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="No Spacing"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 1"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 1"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 1"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 1"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 1"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 1"/> <w:LsdException Locked="false" UnhideWhenUsed="false" Name="Revision"/> <w:LsdException Locked="false" Priority="34" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="List Paragraph"/> <w:LsdException Locked="false" Priority="29" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Quote"/> <w:LsdException Locked="false" Priority="30" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Intense Quote"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 1"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 1"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 1"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 1"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 1"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 1"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 1"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 1"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 2"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 2"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 2"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 2"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 2"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 2"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 2"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 2"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 2"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 2"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 2"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 2"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 2"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 2"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 3"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 3"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 3"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 3"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 3"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 3"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 3"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 3"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 3"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 3"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 3"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 3"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 3"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 3"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 4"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 4"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 4"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 4"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 4"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 4"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 4"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 4"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 4"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 4"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 4"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 4"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 4"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 4"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 5"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 5"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 5"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 5"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 5"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 5"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 5"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 5"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 5"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 5"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 5"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 5"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 5"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 5"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 6"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 6"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 6"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 6"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 6"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 6"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 6"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 6"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 6"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 6"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 6"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 6"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 6"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 6"/> <w:LsdException Locked="false" Priority="19" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Subtle Emphasis"/> <w:LsdException Locked="false" Priority="21" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Intense Emphasis"/> <w:LsdException Locked="false" Priority="31" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Subtle Reference"/> <w:LsdException Locked="false" Priority="32" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Intense Reference"/> <w:LsdException Locked="false" Priority="33" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Book Title"/> <w:LsdException Locked="false" Priority="37" Name="Bibliography"/> <w:LsdException Locked="false" Priority="39" QFormat="true" Name="TOC Heading"/> </w:LatentStyles> </xml><![endif]--><!--[if gte mso 10]> <style> /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} </style> <![endif]--></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <b><span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 55.5pt;"><span style="font-size: 16px;">B</span></span></b><span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">ank of Kathmandu (BOK) has two distinct identities. One, it is among the few commercial banks managed entirely by Nepali professionals. Second, it is the only commercial bank with more shares in the hands of the public shareholders than with the promoters. The Bank recorded some 25 per cent increase in its net profit in the first quarter of the current fiscal year (2010/11). In the first quarter of last fiscal year (2009/10), the Bank had a net profit of Rs 120 million. In this year’s corresponding period, the Bank’s net profit rose by some 40 million to cross Rs 160 million. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">“This time around, it was not wise to thicken the balance sheet by increasing deposits. Rather, we focused on increasing the net profit,†says Ajay Shrestha, Chief Executive Officer of the Bank since February 2010. “Aggressive deposit increase would only add to the costs. That’s why, we diverted our focus.†<br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">Though Shrestha joined BOK as its CEO just one year ago, he was not a complete stranger. He was the duty of the CEO in BOK for some six years and had left it to work in another bank. It was only two years gap when he rejoined BOK in February 2010. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">As of today, the total deposit of the Bank is around Rs 18 billion and the loan outstanding is around Rs 17 billion. “We are observing whether the same growth in profit margin will sustain in the coming quarters as well,†Shrestha adds. “Our effort will be to gain a reasonable growth in the profitability. Overall, our balance sheet is stable.†<br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">BOK started operation in March 1995 as a joint venture with the Siam Commercial Bank of Thailand. But the Bank could not do well due to various problems and the main reason cited is the ‘mixed-culture management’ of that time with Nepali and Thai management style not finding synergy. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">So, Siam Commercial Bank pulled out in the year 2000 selling its shares to the general Nepali public. The result was that the Bank’s management came to entirely Nepali hands and the performance of the Bank started turning around. The efforts undertaken during 2001-2004 period set the foundation for the Bank’s success in the following years, notes Shrestha. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">During this period, the Bank changed the customer profile. It focused on importers and exporters and also started project financing in areas such as medical colleges and hydropower. Though the Bank continued financing the corporate sector, it also initiated retail banking at the same time. Under retail banking, the Bank encouraged small account holders to open ‘Sajilo Bachat Khata’ which translates to ‘easy saving account’. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">Today, the Bank has 37 branches including the head office at Kamaladi, Kathmandu, 41 ATM outlets and 6 extension counters across the country. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">According to Shrestha, the human resource management of the bank is based on the concept of looking basically on two factors: recruitment standard and growth potential. “Under the first, we evaluate whether the new recruit is as per the level and requirements that we have set. Under the second, we provide growth potentials within the organisation for the hired ones.†<br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">The Bank, however, is not always lucky to get the manpower of required quality. Though most of the newcomers have a management degree, they still need brushing up their skills. The reason is that the fresh graduates are mostly with academic background in finance but the Bank needs people also for non-finance fields such as marketing, general management etc. This sometimes creates problems for the Bank. Marketing is very crucial for a bank to sustain and expand. “But, we don’t often get the manpower trained and educated on quality marketing,†laments Shrestha. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">However, the challenges in the human resource field don’t end there. As the competition is stiff in banking sector, one bank’s capable employees are lured by other banks offering attractive perks and benefits. According to Shrestha, his bank is facing this challenge by continuous training process. He stresses that as long as a bank has the capacity to train its staff, it would not be a problem when some individuals leave the bank. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">At present, the number of employees with the Bank is 780. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">According to the opinion of Shrestha, the people don’t differentiate between the banks much. For them, bank A and bank B are the same, he says and underlines the need to educate the people so that they could differentiate between the banks. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">When Shrestha rejoined BOK as its CEO in February 2010, Shrestha mainly concentrated on two initiatives to increase the customer base. First, he offered higher interest rates to small depositors and next, he brought the ‘unbanked’ population to banking service. In this connection, the Bank paid attention to expanding customer base outside the Kathmandu valley. And the result is that, in the last 10 months or so, some 30 thousand new accounts were opened in the Bank. “We ran a campaign making people aware that deposits are important in life. Being present ourselves in the field, we helped women, the disabled and the low income people open their own bank accounts,†says he. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">An account can be opened in BOK with Rs 1000 as balance to which the Bank adds Rs 300 from its side, thus making the ‘seed money’ rise up to Rs 1300. The Bank has also removed the minimum deposit requirement in the fixed deposit. However, BOK has not offered ‘zero balance’ or ‘Rs 1†accounts that many other banks are offering.<span style=""> </span>“Zero balance or Rs 1 accounts may not help the people to learn about generating value from their deposits. That’s why we did not go for that,†explains Shrestha.<span style=""> </span> <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">Another strategic decision of the Bank is to focus its lending to a few areas so that the profiting position is not lost. Therefore, the Bank is providing only a few types of loans such as corporate loan, SME loan, retail loan, credit card and development credit. The Bank has plans to become even more focused, reveals Shrestha. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">The Bank has changed even its focus in Corporate Social Responsibility. In the past, the Bank’s key priority areas used to be education, health and environment. But for the past few years, the Bank has been focusing on finance and banking. Under this, the Bank has been campaigning to raise people’s awareness on the value of deposits with the slogan, “We make your life easier.†<br /> </span></p> <p class="MsoNormal"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt; line-height: 115%;"><br /> </span></p> <p class="MsoNormal"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt; line-height: 115%;">Shrestha’s management mantra is efficiency, not volume. ‘Efficiency is a must for a bank’s survival’ is his refrain. </span><span style="font-size: 6.5pt; line-height: 115%; font-family: Wingdings; color: rgb(237, 28, 36); letter-spacing: -0.15pt;"><span style=""> </span> <br /> </span></p> <p class="MsoNormal" style="text-align: center;"> <span style="font-size: 20px;"><span color:="" franklin="" gothic="" heavy="" sans-serif=""><br /> </span></span></p> <p class="MsoNormal" style="text-align: center;"> <!--[if gte mso 9]><xml> <w:WordDocument> <w:View>Normal</w:View> <w:Zoom>0</w:Zoom> <w:TrackMoves/> <w:TrackFormatting/> <w:PunctuationKerning/> <w:ValidateAgainstSchemas/> <w:SaveIfXMLInvalid>false</w:SaveIfXMLInvalid> <w:IgnoreMixedContent>false</w:IgnoreMixedContent> <w:AlwaysShowPlaceholderText>false</w:AlwaysShowPlaceholderText> <w:DoNotPromoteQF/> <w:LidThemeOther>EN-US</w:LidThemeOther> <w:LidThemeAsian>X-NONE</w:LidThemeAsian> <w:LidThemeComplexScript>X-NONE</w:LidThemeComplexScript> <w:Compatibility> <w:BreakWrappedTables/> <w:SnapToGridInCell/> <w:WrapTextWithPunct/> <w:UseAsianBreakRules/> <w:DontGrowAutofit/> <w:SplitPgBreakAndParaMark/> <w:DontVertAlignCellWithSp/> <w:DontBreakConstrainedForcedTables/> <w:DontVertAlignInTxbx/> <w:Word11KerningPairs/> <w:CachedColBalance/> </w:Compatibility> <m:mathPr> <m:mathFont m:val="Cambria Math"/> <m:brkBin m:val="before"/> <m:brkBinSub m:val="--"/> <m:smallFrac m:val="off"/> <m:dispDef/> <m:lMargin m:val="0"/> <m:rMargin m:val="0"/> <m:defJc m:val="centerGroup"/> <m:wrapIndent m:val="1440"/> <m:intLim m:val="subSup"/> <m:naryLim m:val="undOvr"/> </m:mathPr></w:WordDocument> </xml><![endif]--><!--[if gte mso 9]><xml> <w:LatentStyles DefLockedState="false" DefUnhideWhenUsed="true" DefSemiHidden="true" DefQFormat="false" DefPriority="99" LatentStyleCount="267"> <w:LsdException Locked="false" Priority="0" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Normal"/> <w:LsdException Locked="false" Priority="9" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="heading 1"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 2"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 3"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 4"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 5"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 6"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 7"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 8"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 9"/> <w:LsdException Locked="false" Priority="39" Name="toc 1"/> <w:LsdException Locked="false" Priority="39" Name="toc 2"/> <w:LsdException Locked="false" Priority="39" Name="toc 3"/> <w:LsdException Locked="false" Priority="39" Name="toc 4"/> <w:LsdException Locked="false" Priority="39" Name="toc 5"/> <w:LsdException Locked="false" Priority="39" Name="toc 6"/> <w:LsdException Locked="false" Priority="39" Name="toc 7"/> <w:LsdException Locked="false" Priority="39" Name="toc 8"/> <w:LsdException Locked="false" Priority="39" Name="toc 9"/> <w:LsdException Locked="false" Priority="35" QFormat="true" Name="caption"/> <w:LsdException Locked="false" Priority="10" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Title"/> <w:LsdException Locked="false" Priority="1" Name="Default Paragraph Font"/> <w:LsdException Locked="false" Priority="11" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Subtitle"/> <w:LsdException Locked="false" Priority="22" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Strong"/> <w:LsdException Locked="false" Priority="20" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Emphasis"/> <w:LsdException Locked="false" Priority="59" SemiHidden="false" UnhideWhenUsed="false" Name="Table Grid"/> <w:LsdException Locked="false" UnhideWhenUsed="false" Name="Placeholder Text"/> <w:LsdException Locked="false" Priority="1" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="No Spacing"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 1"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 1"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 1"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 1"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 1"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 1"/> <w:LsdException Locked="false" UnhideWhenUsed="false" Name="Revision"/> <w:LsdException Locked="false" Priority="34" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="List Paragraph"/> <w:LsdException Locked="false" Priority="29" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Quote"/> <w:LsdException Locked="false" Priority="30" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Intense Quote"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 1"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 1"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 1"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 1"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 1"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 1"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 1"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 1"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 2"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 2"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 2"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 2"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 2"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 2"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 2"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 2"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 2"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 2"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 2"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 2"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 2"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 2"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 3"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 3"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 3"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 3"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 3"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 3"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 3"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 3"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 3"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 3"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 3"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 3"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 3"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 3"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 4"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 4"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 4"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 4"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 4"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 4"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 4"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 4"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 4"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 4"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 4"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 4"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 4"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 4"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 5"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 5"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 5"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 5"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 5"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 5"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 5"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 5"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 5"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 5"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 5"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 5"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 5"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 5"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 6"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 6"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 6"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 6"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 6"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 6"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 6"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 6"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 6"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 6"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 6"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 6"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 6"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 6"/> <w:LsdException Locked="false" Priority="19" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Subtle Emphasis"/> <w:LsdException Locked="false" Priority="21" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Intense Emphasis"/> <w:LsdException Locked="false" Priority="31" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Subtle Reference"/> <w:LsdException Locked="false" Priority="32" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Intense Reference"/> <w:LsdException Locked="false" Priority="33" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Book Title"/> <w:LsdException Locked="false" Priority="37" Name="Bibliography"/> <w:LsdException Locked="false" Priority="39" QFormat="true" Name="TOC Heading"/> </w:LatentStyles> </xml><![endif]--><!--[if gte mso 10]> <style> /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} </style> <![endif]--></p> <p style="text-align: center;"> <span style="font-size: 24px;"><span style="font-family: "Franklin Gothic Heavy","sans-serif"; color: rgb(237, 28, 36);">NIC Bank’s</span><span style="font-family: "Franklin Gothic Heavy","sans-serif"; color: rgb(46, 48, 146);"> Productive </span><span style="line-height: 115%; font-family: "Franklin Gothic Heavy","sans-serif"; color: rgb(46, 48, 146);">Orientation</span></span></p> <p style="text-align: justify;"> <span style="font-size: 55.5pt; letter-spacing: -0.2pt;"><span style="font-size: 20px;"><span style="font-size: 18px;">W</span></span></span><span style="letter-spacing: -0.2pt;">ith the conclusion of its 13th Annual General Meeting, Nepal Industrial and Commercial Bank Limited (NIC) has decided to distribute a cash dividend of 26.32 per cent. This is one of the highest dividend payout by any bank in 2010. The Bank posted a Net Profit of Rs 449.8 million in FY 2009/10 which is 42 per cent more than last year. The Bank’s Non-Performing Loans are very low at 0.7 per cent. Similarly, in the first four months of this year, the Bank has posted an operating profit of Rs 289 million. The investment of the Bank has also increased from Rs 3.026 billion to Rs 4.947 billion in FY 2009/10 which signifies 63 per cent growth. “Our investment portfolio clearly indicates that our exposure in productive sector is more than 90 per cent. We continue to capitalize on our strengths by increasing our investment in this sector. However, Small and Medium Enterprise sector will be focused more,†says Sunil Pokharel, Head, Retail Banking, NIC Bank. <br /> </span></p> <p class="BODYTEXT"> <span style="letter-spacing: -0.2pt;">The total workforce of the Bank is 320 with 33 per cent female. <br /> </span></p> <p class="BODYTEXT" style="text-align: justify;"> <span style="letter-spacing: -0.2pt;">NIC Bank had commenced its operation on 21st July, 1998 with its head office in Biratnagar. Promoted by several prominent business houses of Nepal, it started with a capital of Rs 500 million which was the highest paid up capital of any bank at that time. The paid-up capital increased to Rs 1.31 billion in FY 2009/10. The Bank has been in profit since its inception and has recorded a robust growth in its overall business and profitability during the recent years. <br /> </span></p> <p class="BODYTEXT" style="text-align: justify;"> <span style="letter-spacing: -0.2pt;">The Bank has been consistently embarking on sustainable network expansion and has successfully added several new branches every year in strategic new locations. At present, the Bank has a total of 28 branches and 26 ATMs across the country serving more than 112,000 customers. The Bank will shortly be opening four more branches and adding 10 ATMs. All its branches are inter-connected through V-SAT and optical-fibre network which is capable of providing on-line real time transactions. <br /> </span></p> <p class="BODYTEXT" style="text-align: justify;"> <span style="letter-spacing: -0.2pt;">Being the first ISO 9001:2008 certified commercial bank of the country, NIC has raised the bars on competition and become more committed towards delivering quality and superior products and services to the customers as well as maintaining corporate governance within its staffs. <br /> </span></p> <p class="BODYTEXT" style="text-align: justify;"> <span style="letter-spacing: -0.2pt;">NIC Bank has played a pioneering role in the Nepali banking sector introducing innovative and customized products and services to its customers. Deposit Products, Business Banking, SME Banking, Consumer Banking, Transaction Banking and Bullion Business are some of the products and services offered by NIC. “We are the first bank to introduce Savings Account Scheme bundled with life insurance. Also, we are the first to introduce fixed deposit account with the ease of a savings account. Recently, we have launched “Complete Savings Accounts†– a truly hassle free account for an individual and “NIC- Remit Savings Accounts†with unique features for those receiving fund from overseas,†says Pokharel.<span style=""> </span> <br /> </span></p> <p class="BODYTEXT" style="text-align: justify;"> <span style="letter-spacing: -0.2pt;">NIC was awarded “Bank of the Year 2007†honour by The Banker Magazine, Financial Times, London. Besides this, it is the first bank in Nepal to be provided a line of credit by International Finance Corporation (IFC), an arm of World Bank Group under its Global Trade Finance Program, enabling the Bank’s Letter of Credit and Guarantee to be accepted by more than 200 banks worldwide. Also, it is the first bank to offer bullion trading and to offer lowest-price home loan schemes. <br /> </span></p> <p class="BODYTEXT" style="text-align: justify;"> <span style="letter-spacing: -0.2pt;">Over the course of five successive fiscal years, the bank’s performance has been tremendous. The Compounded Annual Growth Rate (CAGR) of the bank<span style=""> </span>is one of the highest in the industry for the last five years (see table). “The competition has always been tough. The increasing numbers of banks have now forced to come out from its comfort zone to provide quality services and look for new avenues in order to increase revenue by introducing new and innovative products to its customers. Therefore, we cannot be an exception,†says Pokharel. He adds, “We consider ourselves at the adolescence stage of corporate life cycle and there is a long way to have a turning point. We strongly believe in a positive corporate cultureâ€.<span style=""> </span> <br /> </span></p> <p class="BODYTEXT" style="text-align: justify;"> <span style="letter-spacing: -0.2pt;">The bank has special and distinct Corporate Social Responsibility (CSR) practice. It has sponsored many events and programs which mainly focus on enabling talent through education, creating opportunities through social investments and corporate volunteering. All the contributions and sponsorships come under the Bank’s CSR. As a responsible corporate house, NIC Bank contributes to the society in various ways through NIC Foundation (NICF), an independent non-profit organization promoted by the Bank. The foundation’s main objective is to bring positive societal changes through charitable works. It aims at helping marginalized and underprivileged communities through education, health and skill development. NIC has been providing scholarship to under privileged but meritorious girl children in Kathmandu. It has also been providing scholarship to the visually challenged students who hail from Jumla to pursue their higher education in Kathmandu. It has donated computers to a school of a remote area and provided financial assistance to an orphanage in Birgunj. It has donated two ambulances in Mid-Western Regional Hospital in Surkhet. It has also helped in construction of Mata Tripurasundari Temple at Dhobighat, Lalitpur and has supported to construct a trail from Kusma to Modi Beni in Parbat district. The Bank has also been organizing a Blood Donation Campaign every year. Furthermore, the Bank has also donated for the flood victims in Koshi and diarrhoea victims in Jajarkot. The Bank has recently taken initiatives for the development of sports in Nepal and has sponsored National Open Gymnastics Championship. NICF’s programs are sustained by the Bank’s contribution of 0.5 per cent from its annual profits. NIC is the only bank to have fixed the proportion of its profit to be set aside for such cause. <br /> </span></p> <p class="MsoNormal"> <span style="letter-spacing: -0.2pt;">Being a well established brand with 12 years history, NIC aims to continue striving for better performance and exceed the expectation of all stakeholders. Precisely, the Bank’s future plans are based on providing “Complete Financial Solutions†to the customers and good return on investment to its shareholders. “Apart from increasing footprints and investment in technology and system-upgradation (core banking system), we are also coming with new tailor made products to serve our anticipated customer needs. Also, we are bringing innovative products and services suitable for corporate customers as well as retail customers,†says Pokharel. </span></p> <p class="MsoNormal" style="text-align: center;"> <span style="font-size: 24px;"><span color:="" franklin="" gothic="" heavy="" sans-serif="">Imperial Finance</span><span color:="" franklin="" gothic="" heavy="" sans-serif="">: </span><span style="line-height: 115%; font-family: FranklinGothic; color: rgb(0, 94, 157);">Slow but Steady Steps</span></span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;">Imperial Finance Limited opened a branch on January 14, 2011 at New Road of Kathmandu. Though the company now has only two branches, the presence in the main business centre of the capital gives a very positive message as it is sure to contribute to the business expansion of the company. Established in March 2006 with Rs 50 million as the paid up capital, the company is growing robust with the capital now increased to Rs 150 million. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;">Binod Karki, Chief Executive Officer (CEO) of the company says that the visionary dedication of the founder members has brought the company to this point. The company now has its own building to house its head office for about three years now. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;">Today the company has expanded to two branches and multiplied its capital thrice from Rs 50 million to Rs 150 million, notes Karki who joined the company as the third CEO recently. Now the company is planning to increase its capital to Rs 200 million by 2013 (2070 BS) as required by the central bank. The promoters own 61 percent in the company withy the rest 39 per cent held by the general people. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;">To increase the capital, the company is distributing bonus shares. Last year the company provided 20 per cent bonus share and this year it is giving 15 per cent bonus share. Karki says that the company might also need to issue rights share in the coming days to meet the target of the capital increment. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;">The company has made an operating profit of Rs 47.12 million in the first quarter of the current fiscal year while it was Rs 52.04 million in the same period last year. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;">Last year the company had opened a branch in Narayanghat of Chitwan and the branch expansion continued this year with the New Road facility opened. But that is not sufficient for competition in the market that has so many players – commercial banks, development banks, finance companies and saving-credit cooperatives. However, Karki is confident of his company’s competitiveness.<span style=""> </span>Karki says, “We find ourselves ahead based on the asset and loan quality when compared to other companies.†<br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-', 'published' => true, 'created' => '2011-02-11', 'modified' => '2011-02-11', 'keywords' => '', 'description' => 'Bank of Kathmandu (BOK) has two distinct identities. One, it is among the few commercial banks managed entirely by Nepali professionals. Second, it is the only', 'sortorder' => '147', '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' => '55', 'article_category_id' => '39', 'title' => 'The Table Of Fishtail Lodge', 'sub_title' => '', 'summary' => null, 'content' => '<p> While in Pokhara, everybody enjoys the magnificent sight of Mt. Fishtail and the Fewa Lake.</p>', 'published' => true, 'created' => '2010-11-04', 'modified' => '2010-11-10', 'keywords' => '', 'description' => 'While in Pokhara, everybody enjoys the magnificent sight of Mt. Fishtail and the Fewa Lake.', 'sortorder' => '14', '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' => '54', 'article_category_id' => '39', 'title' => 'Naturally Embedded Hospitality', 'sub_title' => '', 'summary' => null, 'content' => '<p> Tibetan-style Grand Norling Hotel's Resort(GNHR) is situtated adjacent to beautiful Gokarna forest, yet just a turn from the main highway.</p>', 'published' => true, 'created' => '2010-11-04', 'modified' => '2010-11-11', 'keywords' => '', 'description' => 'Tibetan-style Grand Norling Hotel's Resort(GNHR) is situtated adjacent to beautiful Gokarna forest, yet just a turn from the main highway.', 'sortorder' => '13', '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' => '53', 'article_category_id' => '39', 'title' => 'National Insurance', 'sub_title' => '', 'summary' => null, 'content' => '<p> Against the backdrop of an unending political volatility in Nepal, coupled with economcs downturn and unhealthy competition in the general insurance segment.</p>', 'published' => true, 'created' => '2010-11-04', 'modified' => '2010-11-10', 'keywords' => '', 'description' => 'Against the backdrop of an unending political volatility in Nepal, coupled with economcs downturn and unhealthy competition in the general insurance segment.', 'sortorder' => '12', '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' => '52', 'article_category_id' => '39', 'title' => 'Pioneering Alternative Banking', 'sub_title' => '', 'summary' => null, 'content' => '<p> While branching out is the most strategic decision for most of the Nepali banks holds a different card. "We plan to bring seven million people under the fold of our mobile banking,'" says Ajaya B.saha head of Retail Finance Service, Laxmi Bank, pointing out to the viability of the techono-savvy alternative to banking today. </p>', 'published' => true, 'created' => '2010-11-04', 'modified' => '2010-11-10', 'keywords' => '', 'description' => 'While branching out is the most strategic decision for most of the Nepali banks holds a different card.', 'sortorder' => '11', '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
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '394', 'article_category_id' => '39', 'title' => 'Etihad Airways-International(july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-indent: 0in; text-align: justify;"> <span style="font-size: 12pt; letter-spacing: 0.1pt;">E</span><span style="letter-spacing: 0.1pt;">tihad seeks to reflect the best of Arabian hospitality as well as enhance the prestige of Abu Dhabi as a centre of hospitality between East and West. Its goal is to be a truly 21st century global airline challenging and changing the established conventions of airline hospitality. Apart from providing a relaxing experience, it strives to make travel safe and environment-friendly by practicing the highest global standards in both these areas. The airline is constantly innovating, taking the smallest detail into account in its pursuit of excellence and perfection. The overall ambition of Etihad Airways is to be the best airline in the world. </span></div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> Etihad is governed by a Board of Directors under the chairmanship of HH Sheikh Hamed bin Zayed Al Nahyan while the airline’s management team is led by James Hogan who was appointed as Chief Executive Officer in October 2006 to lead the airline’s continued successful growth and development. The ongoing redevelopment work at Abu Dhabi International Airport has significantly enhanced the experience for guests. The second runway, officially opened in October 2008, is part of a large scale UAE Dirham (AED) 25 billion redevelopment programme and expansion project at the airport. Terminal 3 at Abu Dhabi Airport, an exclusive facility for Etihad, was opened in February 2009 increasing the airport’s passenger handling capacity from five to 12 million passengers a year. The first phase of a Midfield Terminal Complex is due for completion in the next few years and will take the airport’s handling capacity to 20 million passengers. The airport will be capable of handling 40 million passengers by 2030 when the project is completed.<br />  </div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0.1pt;">Fleet and network</span></strong></div> <div style="text-align: justify;"> <span style="letter-spacing: 0.1pt;">Etihad’s fleet, among the youngest in the world, has 57 aircraft operating 1,032 flights per week serving an international network of 68 destinations in 45 countries in the Middle East, North America (New York, Chicago and Toronto), Africa, Europe, Australia and Asia (including Kathmandu in Nepal). In addition, Etihad has 30 code-share agreements in place, building the airline’s international network. As part of its long term vision, Etihad plans to operate in up to 100 major business and leisure destinations around the world by 2020. </span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: 0.1pt;">The airline announced the largest aircraft order in commercial aviation history at Farnborough International Air show in 2008, for up to 205 aircraft – 100 firm orders, 55 options (guaranteeing the price of the aircraft and the delivery date) and 50 purchase rights (guaranteeing the price of the aircraft but not the delivery date).<br /> <br /> </span></div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0.1pt;">People and Company Growth </span></strong></div> <div style="text-align: justify;"> <span style="letter-spacing: 0.1pt;">Currently, close to 8,000 people work at Etihad Airways with the majority based in Abu Dhabi and the UAE. In order to meet Etihad’s predicted fleet, passenger and destination growth by 2020 – which plans for more than 25 million passengers to fly to more than 100 destinations aboard a fleet of 150 planes – the airline will need a workforce of approximately 27,000 people. In 2010, Etihad saw passenger numbers top 7 million (7.1 million passengers carried) for the first time and revenue passenger kilometres (RPKs) rise 20.1 per cent. Etihad’s revenue exceeded US $2.9 billion in 2010. </span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: 0.1pt;">On the ground, Etihad has introduced a range of services designed to make the travel experience as comfortable, smooth and fast as possible. It offers a range of convenient ground services, including Etihad Chauffeur, its premium limousine service available at 27 destinations globally, and premium lounges (370,000 lounge guests hosted) in Abu Dhabi, London, Frankfurt, Dublin and Manchester.<br /> <br /> </span></div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0.1pt;">Etihad Guest</span></strong></div> <div style="text-align: justify;"> <span style="letter-spacing: -0.35pt;">Etihad Guest is an award-winning loyalty programme boasting over one million members to date. Launched in August 2006, the programme offers its members opportunities to accumulate Etihad Guest Miles which can be redeemed against a wide selection of over 1,800 flight and non-flight rewards from over 200 partners. Non-flight rewards cover a wide variety of categories from computer and electronic equipment to jewellery and lifestyle products. Each year, over 40 promotions are organised by the CRM and Loyalty department and communicated to all Etihad Guest members.<br /> <br /> </span></div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0.1pt;">Sponsorships</span></strong></div> <div style="text-align: justify;"> <span style="letter-spacing: 0.1pt;">Etihad supports a range of sporting and cultural events in the UAE and the world over. These sponsorships are consistent with Etihad’s values of hospitality and team spirit and helps bring Abu Dhabi to the world and vice-versa. Its major sponsorships include Etihad Stadium, Ferrari Formula 1 (F1) Team, Sport Australia Hall of Fame, GAA Hurling All-Ireland Senior Championship, Harlequins Rugby Football Club, F1 Etihad Airways Abu Dhabi Grand Prix and Manchester City Football Club.<br /> <br /> </span></div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0.1pt;">Marketing </span></strong></div> <div style="text-align: justify;"> <span style="letter-spacing: 0.2pt;">The airline’s marketing department plays a major role in taking the Etihad Airways story to the world. Etihad was awarded ‘World’s Leading Airline’ at the World Travel Awards in 2010 for the second consecutive year. It set the benchmark for the airline’s brand communications enabling Etihad to inspire its audiences through a range of campaigns to ‘fly with the best’. The same year, it launched an international television advertising campaign titled ‘He Likes, She Likes’ showcasing the airline’s continued investment in products and services and commitment to offering a tailored, personal experience for every traveller.</span><span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.05pt;">n</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <strong>An Award Winning Airline</strong></div> <div style="text-align: justify;"> Etihad has received a range of awards that reflects its position as the leading premium airline brand in the world. In its first seven years of operation, its range of local and international awards includes:</div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2011 </span></b></div> <div style="text-align: justify;"> <span style=""> Best Long Haul Airline – Irish Travel Awards </span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2010 </span></b></div> <div style="text-align: justify;"> <span style=""> Airline of the Year – Aviation Business Awards </span></div> <div style="text-align: justify;"> <span style=""> World’s Leading Airline – World Travel Awards (second consecutive year)</span></div> <div style="text-align: justify;"> <span style=""> World’s Best First Class – Skytrax (judged by over 18 million air travellers worldwide in the annual Skytrax survey)</span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2009 </span></b></div> <div style="text-align: justify;"> <span style=""> World’s Leading Airline - World Travel Awards (WTA) </span></div> <div style="text-align: justify;"> <span style=""> Best Airline to the Middle East / Africa - Irish Travel Trade News awards, Dublin </span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2008 </span></b></div> <div style="text-align: justify;"> <span style=""> European Sponsorship of the Year Award - European Sponsorship Association </span></div> <div style="text-align: justify;"> <span style=""> James Hogan, Aviation CEO of the year - CEO Middle East awards (ITP) </span></div> <div style="text-align: justify;"> <span style=""> Best website www.etihadairways.com - Pan Arab Web Awards </span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2007 </span></b></div> <div style="text-align: justify;"> <span style=""> Best Economy class catering award - Skytrax </span></div> <div style="text-align: justify;"> <span style=""> The Middle East’s Leading Airline - World Travel Awards </span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2006 </span></b></div> <div style="text-align: justify;"> <span style=""> Middle East Airline of the Year - Pax International magazine </span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2005 </span></b></div> <div style="text-align: justify;"> <span style="font-size: 5.5pt;"> </span><span style="">Outstanding Food Service by a Carrier – Pax International magazine </span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2004 </span></b></div> <div style="text-align: justify;"> <span style=""> The World’s Leading New Airline – World Travel Awards</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="font-size: 13.5pt; letter-spacing: 0.15pt;">‘Essential Abu Dhabi’</span></div> <p style="text-align: justify;"> <span style="font-size: 11pt; line-height: 115%;">Etihad Airways has designated 2011 as ‘the year of Abu Dhabi’ with the launch of its ‘Essential Abu Dhabi’ destination marketing campaign. The campaign will see Etihad unveil a number of exciting promotional activities across the globe designed to enhance Abu Dhabi’s place as a top tourist and MICE (Meetings, Incentives, Conferences and Exhibitions) destination. All the major tourism operators in the emirate of Abu Dhabi have come together under one showcase umbrella for the first time to promote the very best UAE capital has to offer. The campaign is being supported by the Abu Dhabi Tourism Authority as a major partner. The programme is also targeting millions of passengers transiting through the Abu Dhabi hub, to entice them for a stopover in the city.</span></p>', 'published' => true, 'created' => '2011-09-01', 'modified' => '2011-09-01', 'keywords' => '', 'description' => 'Etihad seeks to reflect the best of Arabian hospitality as well as enhance the prestige of Abu Dhabi as a centre of hospitality between East and West. Its goal is to be a truly 21st.....', 'sortorder' => '310', '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' => '393', 'article_category_id' => '39', 'title' => 'ICFC: Going Steady(july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">ICFC Finance Limited has been largely successful in maintaining its liquidity while a number of financial institutions continue to face liquidity crunch. Sunil Pant, General Manager of ICFC, claimed the company maintains liquidity of 28 to 30 per cent at any given point of time. “Maintaining liquidity is our key concern at present. We think of profitability only after we have maintained enough liquidity,†he explains. The company has made a net profit of Rs 27.19 million by the end of third quarter of the current fiscal year.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">After being registered in 2003, ICFC commenced its operations from July 17, 2004. “We started with a paid-up capital of around Rs 25.5 million before going public,†Pant shared. In its seven years of operation, the company has Rs 330 million as paid-up capital out of core capital of Rs 400 million.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Pant asserts that success did not happen overnight. He says, “We are always focused on our future plans and tread a cautious path while lending.†He added that the finance company is headed by professionals with long exposure and experience in commercial banking. Ram Babu Pant heads the company as the CEO and has served as Deputy Governor of Nepal Rastra Bank (NRB) in the past. The board of directors too comprise of influential members under the chairmanship of Suresh Kumar Agrawal.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;"> “The economic sector was booming and there were a lot of business opportunities when we began our service,†says Pant. He claims ICFC’s Credit to Deposit ratio is around 70 to 75 per cent. He adds, “We never focused on investment in a single sector since the beginning.â€<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">At present, ICFC has deposits of around Rs 3 billion and loans and advances amounting to Rs 2.45 billion. Therefore, the difference between loans and deposit is around Rs 550 million while cash in reserve is about Rs 1.05 billion. It lends mostly in trading, industry and education sectors and less in hire purchase and margin lending. Pant said the company has refrained from investing in land plotting and real estate though it does grant personal and home loans.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The company has eight branches including the main branch at Bhatbhateni. Pant tells that ICFC opens a new branch only after the previous branch reaches break-even . It has been launching a new branch every year in a phase-wise manner. He opines, “We are a finance company so opening multiple branches at once will be challenging to manage. We do want to upgrade our status. However, we have opted to wait and watch given the current state of the economy.†He thinks the current liquidity crisis is snowballing into a sort of credit crunch. “We must maintain a strong position with respect to liquidity as we are responsible for safeguarding our depositors’ interests,†he asserted.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">ICFC has been giving either dividend or bonus shares to its stakeholders every year on an alternate basis. “A cash dividend of 15 per cent was given last year while bonus shares were issued the year before,†Pant states.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The finance company offers its own ATM services at every branch. It is also linked to the SCT network which has around 1,500 ATM counters throughout the country. Pant says that customer satisfaction is the topmost priority at ICFC. “We provide all banking products and facilities offered by a conventional bank,†he claims. The company provides all banking services including mobile banking, SMS banking and Internet banking apart from locker facilities at some of its branches.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Pant distinguishes ICFC from similar institutions through its quality of services provided. “Everyone is doing almost similar things in the market but we are more focused on service delivery along with our bouquet of total banking services,†Pant explains.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The company believes that banking industry largely depends on trust which should not be shaken at any cost. Therefore, the company has made corporate governance its top priority. Pant attributes the failure of some banks and finance companies to weak corporate governance rather than liquidity problem. Pant reassures ICFC was safe in the past and will remain safe in the future too. Its reputation has helped build a customer base of around 50,000 people.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">ICFC is increasing its access to micro financing through First Micro Finance Development Bank, of which it is a promoter. Little service differentiation between commercial banks and finance companies has led to competition between them. Pant feels that while competition is good and adds excitement to work, ICFC does not indulge in aggressive competition. He thinks customers are spoilt with choices today and are free to subscribe to better services and facilities offered by just any company.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">A total of 85 employees work at ICFC Finance Limited. Pant says, “We give equal priority to all ICFC family members and ensure a sense of belonging and job satisfaction. We give our people a lot of independence and authority to meet these objectives.†He adds that the company’s uncompromising attitude in providing facilities at par with the competitors has helped ensure employee retention to a large extent.<br /> <br /> </span></div> <div> <span style="font-size: 9.5pt; line-height: 115%;">ICFC plans to achieve and sustain unprecedented growth in the future. However, it is eagerly waiting for policies that will come in with the new fiscal year. “We can then decide our future course of action,†Pant concludes.</span></div> <div>  </div> <div style="margin: 11pt 0in 0.0001pt; vertical-align: middle;"> <span style="font-size: 11.5pt;">SWOT Analysis</span></div> <div style="margin: 5.65pt 0in 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Strengths:</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Team of experienced professionals</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Strong capital base</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Liquidity maintenance</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Total banking services</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Focus on service delivery</span></div> <div style="margin: 5.65pt 0in 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Weaknesses:</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Less number of branches</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Small capital size</span></div> <div style="margin: 5.65pt 0in 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Opportunities:</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Huge market potential</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Services and branches expansion</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Investment possibilities</span></div> <div style="margin: 5.65pt 0in 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Threats:</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Liquidity crunch in the market</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Political and policy instability</span></div> <div> <span style="font-size: 9.5pt; line-height: 115%; color: black;">Lack of investment environment</span></div> <div>  </div> <div align="center"> Unaudited Financial Results as of mid April 2011</div> <table border="0" cellpadding="0" cellspacing="0" style="margin-left: 4.1pt; border-collapse: collapse;"> <tbody> <tr style="height: 3pt;"> <td style="width: 91.95pt; border: 1pt solid white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 9.5pt;">Particulars</span></b></span></div> </td> <td style="width: 99.55pt; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: white white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 9.5pt;">Third quarter ending (by mid April)</span></b></span></div> </td> <td style="width: 119.2pt; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: white white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 9.5pt;">Corresponding previous year third quarter ending </span></b></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Paid up capital</span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">329,384</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">329,384</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Borrowings</span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">710,000</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">335,000</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Deposits</span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">3,059,446</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">2,3 71,753</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Investments</span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">189,835</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">139,468</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Loans and Advances</span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">2,451,804</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">2,168,906</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Net Profit</span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">27,196</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">41,964</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Non Performing Loan in percentage </span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">0.92%</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">0.49%</span></span></div> </td> </tr> </tbody> </table> <div align="right" style="text-align: right; text-indent: 0in;"> <i><span style="font-size: 7.5pt;">Source</span></i><span style="font-size: 7.5pt;">: ICFC Finance Limited</span></div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'ICFC Finance Limited has been largely successful in maintaining its liquidity while a number of financial institutions continue to face liquidity crunch. Sunil Pant, General Manager of.....', 'sortorder' => '309', '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' => '392', 'article_category_id' => '39', 'title' => 'Story Of NIDC's Turnaround (july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="margin-bottom: 0.0001pt; line-height: 120%; vertical-align: middle; text-align: justify;"> <span style="font-size: 14px;"><b><span style="line-height: 120%;">Shanta Bahadur Shrestha</span></b></span></div> <div style="margin-bottom: 0.0001pt; line-height: 120%; vertical-align: middle; text-align: justify;"> <span style="font-size: 14px;"><span style="line-height: 120%;">Chairman</span></span></div> <div style="text-align: justify;"> <span style="font-size: 14px;"><span style="line-height: 115%;">NIDC Board of Directors</span></span></div> <div style="text-align: justify;"> We are not in aggressive lending and what we have invested in the real estate sector is far below what is allowed by NRB.</div> <p>  </p> <div> <table cellpadding="0" cellspacing="0" hspace="0" style="width: 1px; height: 15px;" vspace="0"> <tbody> <tr> <td style="padding: 0in; text-align: justify;" valign="top">  </td> </tr> </tbody> </table> </div> <p style="text-align: justify;"> <span style="font-size: 9.5pt;">Nepal Industrial Development Corporation Ltd (NIDC), once a comatose public enterprise, has now turned around to become a vibrant company. It had an accumulated loss of Rs 1.41 billion in 2005-06, but it is now expecting a net profit of Rs 300 million in 2010-11. </span></p> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">“We are going to make profit this fiscal year and hopefully declare dividend also,†said Shanta Bahadur Shrestha, Chairman of NIDC Board of Directors and joint secretary at the Ministry of Finance, at the 53rd anniversary function of the corporation on June 15, 2011. Highlighting the recent achievements, company’s General Manager and Director Shivjee Roy Yadav noted that the company’s net worth per share that was a negative Rs 193.47 at the end of 2005-06 has now turned positive to Rs 192.87, by mid-April 2011.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">Behind the newly-found optimism is a long story of struggle and perseverance. Set up in 1959, this first development finance companybloomed till the early 1990s before sliding into a financial mess. Eventually, the government on February 24, 2004, decided to stop this public enterprise from extending any new loan and to focus on just recovering its investments. The plan was to ultimately liquidate the company.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">Though the government decision was made on the basis of a recommendation from PriceWaterhouseCoopers, the company’s management was finally able to convince the government that it can be revived and the government stands to lose if the company is liquidated. Then, a new decision was made by the government on March 2, 2009, that allowed the company to work as a deposit taking institution. Thus, the company started functioning as a bank and this change made the company rise from its deathbed and re-establish itself as a vibrant financial institution. NIDC commenced its banking service from February 8, 2010, and now it is a major provider of funds in the inter-bank market, Yadav claims. Meanwhile, the company focused on recovery and sold some of its investments in stocks. As a result, it fully repaid all the loans it had to pay to the Nepal Rastra Bank and the government. “This is indeed an achievement,†says Yadav, Had the government gone ahead with the liquidation as per the PriceWaterhoseCoopers recommendation, the Nepal Rastra Bank and the government would not have got their money back. Rather, they were required to inject additional capital to clear various other liabilities of the corporation.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">Today, NIDC has an authorised capital of Rs 1.20 billion of which Rs 600 million is issued and Rs 415 million is paid-up. Its non-performing loan has reduced to 75.6 percent by mid-April 2011 from 99.79 percent a year ago. This has further reduced to 70 percent by mid-June and the target is to reduce it further to 35 percent next year, says Yadav. This year’s revised estimate of the profit is lower than the initial estimate. The initial target was Rs 570 million but that could not be achieved as the plan to realise the loan of Himal Cement by selling the mortgaged assets could not go ahead. Similarly, the plan to sell the corporation’s shares in Nabil Bank and NIDC Capital Market could not implemented, explains Yadav. He expects to make these sales once the country’s property and share markets revive.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">Established on June 15, 1959, the company’s mission is to contribute to industrialisation of the country through industrial project financing. Initially, established as a corporation under a special law the Nepal Industrial Development Corporation Act 1959, it was later registered under the Company Act and in 2006 it was made a national level development bank under the Banks and Financial Institution Act 2006.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">From its beginning to mid-April 2004, NIDC invested more than Rs 6 billion in 1,520 industrial projects in different parts of the country. The company estimates that in those projects about 80,000 people received direct employment while 350,000 others got indirect employment.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">NIDC today offers its banking services from its head office in Kathmandu and two regional offices in Biratnagar and Pokhara. The plan is to start banking services also from the Nepalgunj and Dhangadhi offices with approval from the central bank. Meanwhile, the company has started ATM services by setting up an ATM station at the central office and the plan is to set up ATMs in other branches as well in other places of Kathmandu. 9 AGMs in One Go<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">One major recent development of the company is the AGM held on May 7, 2011. It is a major development because there has been no AGM for last nine years from 2001-02 through 2009-10. From the next year, the AGM will be regular, hopes Yadav. One major decision taken at the AGM is to change the company’s name into NIDC Bank Ltd, subject to approval from the relevant authority. <br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">Currently 99.26 per cent of the corporation’s ownership remains with the government while 0.74 per cent stakes are with the public. Therefore, the company’s shares are not traded in the stock exchange though it is listed there. Presenting the annual report to the shareholders in the May 7 AGM, the company’s chairman Shrestha informed about the plan to issue shares through further public offerings so as to increase its paid-up capital.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">Shrestha says, “We are not in aggressive lending and what we have invested in the real estate sector is far below what is allowed by NRB.†</span></div> <div style="text-align: justify;"> <span style="font-size: 9.5pt; line-height: 115%;">According to Shrestha, the company is also planning to offer services like 365 days banking, evening counter, Internet Banking, SMS Banking, Remittance Service, Mobile Banking among other new products. </span><span style="font-size: 6.5pt; line-height: 115%; color: rgb(237, 28, 36); letter-spacing: -0.05pt;">n</span></div> <div style="text-align: justify;">  </div> <div style="margin-top: 8.75pt; text-align: justify;"> <span style="font-size: 9pt;">Financial Statistics of NIDC as of third quarter of 2010/11</span></div> <div style="text-indent: 0in; text-align: justify;"> <i><span style="font-size: 6.5pt;">Rs in million</span></i></div> <table border="0" cellpadding="0" cellspacing="0" style="margin-left: 3.25pt; border-collapse: collapse;"> <tbody> <tr style="height: 3pt;"> <td rowspan="2" style="width: 86.15pt; border: 1pt solid white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">Particulars</span></b></span></div> </td> <td colspan="6" style="width: 224.45pt; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: white white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="299"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">Fiscal years</span></b></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">2005/06</span></b></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">2006/07</span></b></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">2007/08</span></b></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">2008/09</span></b></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">2009/10</span></b></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">2010/11 by mid April</span></b></span></div> </td> </tr> <tr style="height: 12pt;"> <td style="width: 86.15pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">Paid-up Capital</span></span></div> </td> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">415.8</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">415.8</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">415.8</span></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">415.8</span></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">415.8</span></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">415.8</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 86.15pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">Net Profit</span></span></div> </td> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(602.8)</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">87.5</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">797</span></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">172.2</span></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">354.5</span></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">87.4</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 86.15pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">Accumulated Profit (Loss)</span></span></div> </td> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(1416.2)</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(1347.3)</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(595.5)</span></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(459.3)</span></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(179.4)</span></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(109.5)</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 86.15pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">Reserves</span></span></div> </td> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">195.9</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">213.4</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">372.8</span></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">407.3</span></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">478.2</span></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">495.6</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 86.15pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">Networth/Share Rs</span></span></div> </td> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(293.46)</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(172.67)</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">46.44</span></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">87.48</span></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">171.86</span></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">192.87</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 86.15pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">Loan Investment</span></span></div> </td> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">1712.4</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">1466.8</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">1329.7</span></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">1258.5</span></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">1118.6</span></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">1273.6</span></span></div> </td> </tr> </tbody> </table> <div style="text-indent: 0in; text-align: justify;"> <i><span style="font-size: 6pt;">Source</span></i><span style="font-size: 6pt;">: NIDC Press Release on the 53rd anniversary day. </span></div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '2011-09-01', 'keywords' => '', 'description' => 'Nepal Industrial Development Corporation Ltd (NIDC), once a comatose public enterprise, has now turned around to become a vibrant company. It had an accumulated loss of Rs..........', 'sortorder' => '308', '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' => '311', 'article_category_id' => '39', 'title' => 'Wealth Exchange: The Business Of Patience', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-align: justify; text-indent: 0in;"> <b><span style="font-size: 8pt; line-height: 120%;"><img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/sanandan singh.jpg" style="width: 138px; height: 176px;" vspace="1" /><span style="color: rgb(178, 34, 34);">Sanandan Singh</span></span></b></div> <div style="text-align: justify; text-indent: 0in;"> <span style="color: rgb(178, 34, 34);"><span style="font-size: 7pt; line-height: 120%;">CEO</span></span></div> <div style="text-align: justify;"> <span style="color: rgb(178, 34, 34);"><span style="font-size: 7pt;">WEX</span></span></div> <div style="text-align: justify;"> <span style="color: rgb(178, 34, 34);">“We will make profits in a few years as we have not looked in the short term strategy. Our team has understood this and is committed to the vision of the company.â€</span></div> <div style="text-align: justify;"> <span style="color: rgb(178, 34, 34);"><br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;"> <span style="font-size: 12.5pt;">T</span><span style="font-size: 9.5pt;">he commodities exchange business is quite young in Nepal. However, the Wealth Exchange (WEX), the newest such exchange of the country is making big strides though it started business only about five months ago. Registered in March 2010, WEX began its operations from November 2010 as a spot exchange. It is the first spot exchange in Nepal where the number of futures exchanges is three. Sanandan Singh, the CEO of WEX said that the company entered the market at the right time. “This is our soft launching and the big one is yet to come’’, he added. The company is preparing to formally inaugurate its business amid a special function. Singh believes that something substantial like a good profit is required for an entry with a bang. “We are waiting for doing right thing at the right time,†he said.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">In the embryonic market that has just three commodities exchanges, WEX entered as the fourth company with a difference. Singh said that the Meta Trader 4 distinguishes the company from the rest. “Meta Trader 4 is a strong marketing tool for us,†Singh remarked. He explained the reasons for choosing the particular software as, “There is competition in the market and competitors have their own client and niche market. We wanted to introduce a product that is world renowned. And the software has helped to attract business for us.â€</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">WEX specialises in gold and silver. However, the company has the vision to expand its services further with various commodities. There are around 30 commodities traded across the globe. At WEX, gold and silver is virtually traded online with a margin, however, the company claims it can make physical delivery of gold and silver if the clients demand, subject to government regulation. “We have determined Rs 70,000 as the margin for a kilogram of gold which is a standard lot. For silver, the standard lot is 30 kg.†Recently, due to the demand of the investors, mini lot of 100 grams of gold has been introduced too.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">About choosing gold and silver for trading, Singh said, “In Nepal, awareness among the investors about commodities trading may further facilitate the investment climate and other products can be included in the long run. However, gold and silver are the most traded items in the world and known by all.â€</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Trading at WEX does not require bags of solid gold with you. Just a few clicks online and the job is done – thanks to the automated system. Clients make deposits online through the exchange’s banking partner Bank of Kathmandu and the amount is later transferred into the trading platform. Buying and selling to profits and losses are all counted and transferred online.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">There is a unique chain of communication between the company and the clients. The chain includes a clearing member which is in direct contact with WEX and that is followed by brokers and finally the clients. It is actually the brokers who make clients. The organisational communication adopted is vertical. Singh said, “We go down the line while they (clients and members) come up the line. Customers are not only of the brokers but also of the exchange.â€</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">WEX takes membership fees from clearing members and that is passed onto the brokers who may <img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/corporate focus1(1).jpg" style="width: 324px; height: 196px;" vspace="1" />pass this on to their customers. Singh said that the software is the most expensive part of operation of an exchange. He reveals that the company has already reached the breakeven point if the cost of software is excluded. </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Though the company is target oriented, Singh says there are no plans to make millions of rupees within a few months. Stating his company’s growth strategy he says, “We will make profits in a few years as we have not looked in the short term strategy. Our team has understood this and is committed to the vision of the company.†Singh’s principle is ‘Slow and steady wins the race.’ He said that the team is dedicated on strengthening the foundation. He claimed, “After laying the foundation stone, we have already risen above the ground. We are receiving feedback and we welcome criticism because it is a form of recognition too. The suggestion and feedback requested from us by the Securities Board of Nepal (SEBON) is an example of that.â€</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The company has marketed itself saying, ‘A majority of our clients will be in profit, provided they conduct a proper technical and fundamental analysis.’ Singh says the company won’t have any problem even if 100 per cent of its clients benefit. He defies the rule ‘someone has to lose when someone wins.’ Normally when a client makes profit, the exchange would be in loss. He clarifies, “We have managed the risk. Our philosophy is that clients may profit as much as they can. We are competent enough to pay them.†Singh said that the earning of the exchange is nominal. While 70 per cent of the commission of a standard lot is passed on to the brokers, 30 per cent is shared by the clearing member and the exchange. Currently, WEX’s objective is high turnover in low margin. The company has set the target of minimum trading of standard lots for a month.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">However, Singh presently sees limited encouragement among clients. “But we hope it will get better with time,†he said. According to Singh, though people have the money to invest they are reluctant to come into this sector due to their lack of knowledge about it. For that, the company has tied with Commodities Trading Institute for WEX certified courses for potential as well as existing clients and brokers. The company hopes to gain substantial momentum after some idea about this market is developed among the potential clients. When the number of brokers increases, the company receives software charge and membership fees which are the income of the company. </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Currently, there are around 100 clients and 16 brokers of WEX. The company has chosen to increase the clients by spreading knowledge about the commodities market and skills to do trading. Until now, the company has given orientation classes free of cost to 100 - 150 potential clients. The company considers this as an act of Corporate Social Responsibility even before starting to make any profits.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The company has plans to invest further in Corporate Social Responsibility (CSR) after it makes a strong foothold in the market. For now, the company likes to call its orientation classes and its responsible operation as CSR activities.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The company believes in good governance, transparency, decentralisation and system-run mechanism. Singh says, “We don’t believe in one man decision. It has to be a group decision always.†High moral ethics, integrity, discipline etc are must for anyone in the company. Currently, there are 12 staff members in WEX. “Our philosophy is that everyone in the office must have high degree of ethical standards, honesty and competency. ‘Salary is no bar for deserving candidates’ is our philosophy of human resource management and we guarantee a highly motivating career.â€</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">WEX does not feel any competition in the real sense. According to Singh, there is competition with three other exchanges but not in service, commission and platform. “We have monopoly as regards Meta Trader 4 and our efficient and professional standards,†he added.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Being a new entrant in the market, WEX has some challenges to defeat. Preconceived ideas that everyone will lose in the commodities trading has become the biggest challenge. “Brokers feel comfortable with old clients. They bargain unnaturally,†said Singh, “Limited knowledge and long term strategy are the main challenges we are facing now.â€</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The company believes steady growth is the best option for now considering the situation of the country. It is planning to expand its services beyond the Kathmandu Valley. Singh informed that there are already quite a few clients outside the capital. Therefore, expansion into major hubs like Biratnagar, Birgunj, Pokhara, Nepalgunj, Janakpur, Birtamod and Bhairahawa where the company sees immense potential, is in the pipeline. Similarly, WEX is focusing on increasing the number of brokers to 50 and clients to 1,000 in the near future. “We are quality focused. We look for clients who can spare their surplus money, but we don’t advise over stretching their expenses and over trading in the commodities market,†he explained.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The commodities market lacks the presence of regulatory authority and WEX strongly feels its requirement. Though there are directives, an Act is yet to be formulated. SEBON is proposed as the regulator by the Ministry of Finance. Singh said that an external regulator is needed for check and balance so that regular inspections are implemented and corrective measures are enacted by the exchanges as required by the regulator from time to time. Singh feels that the regulator can regulate the exchange companies and also help in developing the expertise of national and international standard. This sector is yet to be explored fully by the investors as opportunities are unlimited.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Though registered as a private limited company, WEX is working and looking forward to going public in the near future. It aims at being the premier commodities exchange in the country, managed by a highly professional and dedicated team for contributing towards the growth of this sector by disseminating knowledge and investment opportunities to investors. </span></div> <div style="text-align: justify;"> <span style="font-size: 9.5pt; line-height: 115%;">WEX is confident that the commodities market will grow tremendously and become popular in the days to come that open the new vista of investment and speculative trading to people in general. </span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> SWOT Analysis</div> <div style="text-align: justify;"> Strengths:</div> <div style="text-align: justify;"> • First Spot exchange in Nepal specialising in Gold and Silver</div> <div style="text-align: justify;"> • Huge capability to facilitate the most complex and demanding trading. The WEX Platform offers trading 24 hours a day throughout the trading week which is more than any other exchange in the country</div> <div style="text-align: justify;"> • The liquidity of trading is largest and most diverse. Ability to execute large purchases and sales orders quickly and efficiently</div> <div style="text-align: justify;"> • WEX market is fair, transparent and anonymous and its electronic trading platform offers the same opportunity for all participants</div> <div style="text-align: justify;"> • Good corporate governance with experienced team</div> <div style="text-align: justify;"> • First commodity exchange to introduce mobile trading</div> <div style="text-align: justify;"> • Contract does not expire in SPOT exchange unlike in future exchange</div> <div style="text-align: justify;"> Weaknesses:</div> <div style="text-align: justify;"> • Specialisation in two commodities. Unable to provide service to investors having interest in other commodities</div> <div style="text-align: justify;"> • Teething problems as WEX is in its initial stage</div> <div style="text-align: justify;"> • Unable to expand its potentials in the absence of a government regulator</div> <div style="text-align: justify;"> Opportunities:</div> <div style="text-align: justify;"> • Huge market potential</div> <div style="text-align: justify;"> • By-product of commodities market is not practised</div> <div style="text-align: justify;"> Threats:</div> <div style="text-align: justify;"> • Unstable political situation</div> <div style="text-align: justify;"> • Inadequate knowledge of commodities market</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Quick Facts</div> <div style="text-align: justify;"> • Incorporated at Company Registrar of Nepal on 18 March 2010</div> <div style="text-align: justify;"> • Came into operation from 11 Nov 2010</div> <div style="text-align: justify;"> • Number of Trading Members: 17</div> <div style="text-align: justify;"> • Number of active traders: More than 300</div> <div style="text-align: justify;"> • Strategic Bank: Bank of Kathmandu</div> <div style="text-align: justify;"> • Traded Commodities: Gold and Silver</div> <div style="text-align: justify;"> • Minimum Trading Size: 100 gm Gold and 5 Kg Silver at Rs 7,000 Margin</div> <div style="text-align: justify;"> • Trading Platform: Meta Trader 4</div> <div style="text-align: justify;"> • Spread (difference of bid and ask): 20 on Gold and 1 on Silver</div> <div style="text-align: justify;"> • Coverage outside the valley : 20 per cent</div> <div style="text-align: justify;"> • Average Monthly Transaction (standard lot): approximately 1,250</div> <div style="text-align: justify;"> • Average Monthly Transaction by number: 1,860</div> <div style="text-align: justify;"> • Average Monthly Transaction by individual investor: approx 6</div> <div style="text-align: justify;"> • Annual trading member target: 30</div> <div style="text-align: justify;"> • Annual target of active investors: 2,000</div> <div style="text-align: justify;"> • Annual target coverage outside Kathmandu Valley: 35 per cent of total</div> <div style="text-align: justify;"> <i><span style="font-size: 8pt;">Source</span></i><span style="font-size: 8pt;">: WEX</span></div> <div style="text-align: justify;">  </div>', 'published' => true, 'created' => '2011-06-03', 'modified' => '2011-06-03', 'keywords' => '', 'description' => 'The commodities exchange business is quite young in Nepal. However, the Wealth Exchange (WEX), the newest such exchange of the country is making big strides though it started business only about five months ago.', 'sortorder' => '234', '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' => '310', 'article_category_id' => '39', 'title' => 'Kist Bank’s Social Service', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-indent: 0in; text-align: justify;"> <span style="font-size: 13.5pt;"><img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/corporate focus.jpg" style="width: 204px; height: 183px;" vspace="1" />W</span>ith a network of 51 branches and 73 ATM outlets, Kist Bank Limited is slowly but surely inching towards becoming a premier bank. With an existing customer base of 300,000, the bank is focusing on providing faster and friendlier services. Kamal Prasad Gnawali, the Managing Director of the bank says, “Kist Bank stands for customers’ convenience and support. We always look forward to serve them by understanding their needs and designing tailored products.â€</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> Kist Merchant Banking and Finance was initially incorporated as a ‘C’ category financial institution in 2003 for undertaking limited banking activities. It started commercial banking activities as Kist Bank Limited from 7 May 2009. Starting with seven employees in 2003, it has 582 people in its ranks today. The bank has deposits to the tune of Rs 16 billion and loans of Rs 13 billion in current fiscal year 2010-11. In the last fiscal year 2009-10, the deposits and loans stood at Rs 15 billion and Rs 12.5 billion respectively.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> The bank is driven by values of efficiency in operations, integrity and a strong focus on catering the needs of every customer by offering high quality and cost effective products and services. The management team along with its dedicated employees operate in a highly automated environment. It has put in substantial efforts and investments in acquiring the best technologies available to build necessary banking infrastructure. The bank’s superior information technology and communication systems enable delivery of prompt and quality services.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: 0.1pt;">Due to its wide network of branches, a sizeable population has access to its banking services where most value added services come free of cost. Gnawali says that the transition to a full-fledged bank in 2009 was a major turning point in the company’s history. “It was a challenge in terms of manpower, market perception and expectations,†he admits. Having pioneered many products in Nepal’s financial sector, the bank these days does not pursue matters aggressively. It rather believes in a controlled business approach and focuses on individuals and SMEs as its clients.</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: 0.2pt;">A young bank with its employees averaging 26 years of age, it believes in a democratic style of working. The staff equation is well taken care of by maintaining a good balance between senior and junior employees. The human resource department at the bank conducts training every week to increase the efficiency of its workforce. Kist Bank believes in having a participative management and ensures easy access and direct approach among its employees. Gnawali was the First Runner Up at the prestigious MAN Awards 2010 under ‘Manager of the Year’ category. “Any award that I receive is because of the bank and not for me as an individual,†he says giving credit for his personal success to the bank’s management team. </span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <strong>Commitment to CSR</strong></div> <div style="text-align: justify;"> For Kist Bank, corporate social responsibility (CSR) has always been a top agenda. It means embracing responsibility for the impact of its activities on the environment, consumers, employees, communities, stakeholders and the public at large. Gnawali explains, “It helps us manage our business responsibly and sensibly for long term sustainable banking.â€</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <strong>Some CSR commitments of the bank include:</strong></div> <div style="text-indent: 0in; text-align: justify;"> <b> </b></div> <div style="text-indent: 0in; text-align: justify;"> <b><span style="">Cash Assistance to Cyclist Puskar Shah</span></b></div> <div style="text-align: justify;"> The bank honoured cyclist Puskar Shah as its goodwill ambassador and assisted him during his world cycling tour of 150 countries. It also provided a cash assistance of Rs 442,417 to Shah for his expedition to Mount Everest. Shah took to the summit the national flags of the countries he visiteda as well as a banner with the Kist Bank’s logo.</div> <div style="text-indent: 0in; text-align: justify;"> <b> </b></div> <div style="text-indent: 0in; text-align: justify;"> <b><span style="">Society of Economic Journalists (SEJON)</span></b></div> <div style="text-align: justify;"> The bank has provided a cash assistance of Rs 500,000 to SEJON to establish a revolving fund to provide annual award to three economic journalists. The bank hopes that this award will be an additional incentive to the journalists.</div> <div style="text-indent: 0in; text-align: justify;"> <b> </b></div> <div style="text-indent: 0in; text-align: justify;"> <b><span style="">Traffic Awareness Programme</span></b></div> <div style="text-align: justify;"> With the objective to raise the awareness among the commuters and drivers of public transport vehicles in urban areas, the bank has provided an assistance of Rs 240,000 to create 20,000 traffic awareness stickers. These stickers were pasted on public vehicles in coordination with Namuna Sadan and Media Agency.</div> <div style="text-indent: 0in; text-align: justify;"> <b> </b></div> <div style="text-indent: 0in; text-align: justify;"> <b><span style="">Cataract Surgery</span></b></div> <div style="text-align: justify;"> The bank provided Rs 12,500 for cataract surgery of five ophthalmic patients in an eye camp organised with the initiation of Reyukai Masunga Eye Hospital, Banepa.</div> <div style="text-indent: 0in; text-align: justify;"> <b> </b></div> <div style="text-indent: 0in; text-align: justify;"> <b><span style="">Gaurishankar Campus</span></b></div> <div style="text-align: justify;"> The bank provided cash and kind equivalent to Rs 84,000 for an enlightening discourse programme on Bhagawat Geeta aimed at collecting funds to convert Gaurishankar College at Charikot, Dolakha into a University.</div> <div style="text-indent: 0in; text-align: justify;"> <b> </b></div> <div style="text-indent: 0in; text-align: justify;"> <b><span style="">Street Lights</span></b></div> <div style="text-align: justify;"> Four street lights worth Rs 24,000 were installed at main road in Kalanki, Kathmandu in coordination with LOYUS, an NGO.</div> <div style="text-indent: 0in; text-align: justify;"> <b> </b></div> <div style="text-indent: 0in; text-align: justify;"> <b><span style="">River Conservation and Tree Plantation</span></b></div> <div style="text-align: justify;"> Under the initiation of National Nature Conservation Fund, the bank provided Rs 15,000 for planting 100,000 trees on the banks of Bagmati River.</div> <div style="text-indent: 0in; text-align: justify;"> <b> </b></div> <div style="text-indent: 0in; text-align: justify;"> <b><span style="">Children Memorial Monument and Garden</span></b></div> <div style="text-align: justify;"> A financial assistance of Rs 200,000 was made to Vishwo Shanti Prachar Manch, an NGO, for the construction of children memorial monument and garden near the entrance of Tribhuvan International Airport.</div> <div style="text-indent: 0in; text-align: justify;"> <b> </b></div> <div style="text-indent: 0in; text-align: justify;"> <b><span style="">Plans</span></b></div> <div style="text-align: justify;"> The bank says it has always been giving prime focus on physical infrastructure and human resource development. It has laid emphasis on acquiring state-of-the-art information technology to ensure the most secure transaction and remain competitive. It has enhanced its distribution outlet to reach un-banked areas and serve people with banking services.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> A few key plans of the bank are:</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Having acquired VISA’s Associate Membership in 2011, the bank is set to launch VISA accredited credit and debit cards this year. Presently, the bank has 150,000 debit card holders on its rolls.</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Last year, the company focused on expansion and building internal strength. Situation permitting and with a favourable environment, the bank’s dream this year is to turn multinational and extend its banking services to countries that have sizeable Nepali Diaspora.</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Increase customer base to 500,000 from the present 300,000.</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> The bank currently provides services to customers from its own buildings in Anamnagar, Birtamod, Damak, Biratnagar and Narayangarh. It wants to have own bank buildings at all possible branch locations. A multi-storey building which will house the bank’s main branch and head office is presently under construction at Anamnagar, Kathmandu.</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Too many players in the market have resulted in quality manpower crunch. To counter this, the bank plans to develop a competitive workforce to undertake higher responsibilities. Its training and development department bears the responsibility to train qualified individuals hired by the bank.</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Expand its remittance business making it accessible to a larger section of the population.</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Develop and launch innovative and customer-friendly products to meet the needs of people deprived of banking services. The bank has a research and development wing that carries out research effecting this direction.</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Support the investors to start large infrastructure development projects in the country.</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> The bank also plans to promote micro finance to develop self sustainable enterprises and make individuals self-reliant.</div> <div style="text-align: justify;"> <strong>Vision and Mission</strong></div> <div style="text-align: justify;"> Kist Bank’s vision is to become the best bank based on operational excellence and superior financial performance. It remains open to the idea of a merger. The bank aspires to become a leading bank by providing best quality financial products and services to its customers, enhancing shareholders value, creating excellent growth opportunity for its employees and contributing to the economic prosperity of the country. </div> <div style="text-align: justify;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 120%; vertical-align: middle;"> <b><span style="font-size: 8pt; line-height: 120%;"><img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/kamal prasad.jpg" style="width: 140px; height: 186px;" vspace="1" />Kamal Prasad Gnawali</span></b></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 120%; vertical-align: middle;"> <span style="font-size: 7pt; line-height: 120%;">Managing Director</span></div> <div style="text-align: justify;"> <span style="font-size: 7pt; line-height: 115%;">Kist Bank</span></div> <div style="text-align: justify;"> “The transition to a full-fledged bank in 2009 was a major turning point in the company’s history. It was a challenge in terms of manpower, market perception and expectations,â€</div> <div style="text-align: justify;"> <span style="color: rgb(165, 42, 42);"><br /> </span></div> <div style="text-align: justify;"> <span style="color: rgb(165, 42, 42);">Kist Bank Briefs</span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> The authorised capital is Rs 5 billion and the issued and paid-up capital Rs 2 billion.</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> 60 per cent of the paid-up capital is held by the promoters and remaining 40 per cent by the general public.</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> The shares of the bank are listed at Nepal Stock Exchange Limited (NEPSE) as ‘A’ category shares.</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; line-height: 115%; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span><span> The seven-member Board of Directors (BOD) has three Directors representing the promoters, two representing the general public and one representing the Professional Director.</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> SWOT Analysis</div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">Strengths: </span></b></div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Young and career-oriented workforce</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span>Good relations between Promoters and Directors</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Quick implementation of ideas</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> A sound infrastructure</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Impressive range of products</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Promoters’ trust in the institution</div> <div style="text-align: justify;"> <b><span style="">Weaknesses:</span></b></div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">* </span>Comparatively new entrant in the market</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Limited exposure in corporate banking</div> <div style="text-align: justify;"> <b><span style="">Opportunities:</span></b></div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Foray into corporate banking</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Further business expansion and development</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Build on existing infrastructure</div> <div style="text-align: justify;"> <b><span style="">Threats:</span></b></div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Mushrooming competitors</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Political instability</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; line-height: 115%; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span>Unhealthy competition</div>', 'published' => true, 'created' => '2011-06-03', 'modified' => '2011-06-03', 'keywords' => '', 'description' => 'With a network of 51 branches and 73 ATM outlets, Kist Bank Limited is slowly but surely inching towards becoming a premier bank. With an existing customer base of 300,000, the bank is focusing on providing faster and friendlier services.', 'sortorder' => '233', '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' => '265', 'article_category_id' => '39', 'title' => 'Healthcare Technologies: Promoting Personal Wellbeing', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-align: justify;"> <b><img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/Vineet Kumar Tulshyan.jpg" style="width: 218px; height: 168px;" vspace="2" />Vineet Kumar Tulshyan</b></div> <div style="text-align: justify;"> Director</div> <div style="text-align: justify;"> Healthcare Technologies Pvt Ltd</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> “In Nepal, spreading awareness about personal healthcare is crucial. In order to live healthy, people must use quality products as it helps them know where they stand medically and take necessary precautions,in time.â€</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Incorporated in 2001, Healthcare Technologies Pvt Ltd has come a long way since. With an annual turnover of Rs 80 million, it has targeted a growth of 15-20 per cent for 2011. Beginning with importing medical equipments in 2001, the company set up a Personal Healthcare Division in 2008. “Given the immense potential for its market in Nepal, we hope that the industry size grows by 1000 per cent,†says Vineet Kumar Tulshyan, the Director of the company. He adds that this tremendous growth can be realised by spreading awareness about personal healthcare. While the expected market is worth a whopping Rs 500 crores, Tulshyan says the current sales of personal healthcare products in Nepal are mere Rs 2-3 crores.<br />  </div> <div style="text-align: justify;"> Run by a group of young and experienced professionals with core interests in the healthcare sector, the company focuses its efforts in specialised areas. The primary objective of Healthcare Technologies is to deliver qualitative medical products and services to the health professionals in Nepal. It has been active in the healthcare sector in different forms and areas. The company imports and distributes medical and surgical equipments, surgical goods, personal healthcare items, laboratory products etc. Its medical equipments are received well in the private sector entities while it is the market leader in personal healthcare products. “Our Microlife range of products enjoy 50 per cent market share,†informs Tulshyan.<br />  </div> <div style="text-align: justify;"> <img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/corporate focus1.jpg" style="width: 266px; height: 166px;" vspace="2" />Healthcare Technologies caters its products to government institutes and organisations, pharmaceuticals companies, hospitals, medical colleges, nursing homes, INGOs and NGOs among others. It has a nationwide distribution network which carries out the work in the most professional manner possible. With its distribution channel in place all over Nepal, it has registered a rapid growth in the last three years. The company had a group turnover (Medical Division) of approx US$ 1.7 million in the last financial year, a growth of nearly 80 per cent. Besides the Kathmandu Valley, the company distributes its products through its dealer network in Butwal, Bhairahawa, Pokhara and Birgunj in central Nepal. Similarly, it has dealers in Nepalgunj in western Nepal and Janakpur, Biratnagar and Dharan in eastern Nepal. The company also indulges in direct marketing to hospitals and nursing homes.<br />  </div> <div style="text-align: justify;"> A total of 15 people are employed with the company under the medical division. Tulshyan says, “I have inculcated a culture in my colleagues that if the company grows, it benefits the employees too.†Healthcare Technologies was recognised by the Nepal Radiological Society in 2009 for its contributions. As part of its corporate social responsibility initiative, it has donated equipments such as Blood Pressure Machines and Thermometers to NGOs and charity hospitals. The company’s mission is to promote personal healthcare system in Nepal. Tulshyan reiterated that spreading awareness is crucial. “In order to live healthy, people must use quality products as it helps them know where they stand medically and take necessary precautions, in time,†says he.<br />  </div> <div style="text-align: justify;"> Tulshyan owes his company’s success to being honest with products and customers. Irrespective of temptations, he does not recommend sub-standard products, he explains. As part of the company’s future endeavours, he plans to manufacture surgical products and start exports in five years time if the government rules and regulations favour the business environment. He says that government support is absolutely important for the sector to flourish.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <strong>Healthcare Technologies and its sister concerns</strong></div> <div style="text-align: justify;"> 1)<span> Healthcare Technologies Pvt Ltd:</span> Exclusive Distributor of</div> <div style="text-align: justify;"> <span> <b>DeVilbiss Healthcare –</b> Portable Oxygen Concentrator and Respiratory Items (5 litre Compact Oxygen Concentrator, IGO Portable Oxygen Concentrator, IFill Personal Oxygen Station, CPAP & Bilevel CPAP)</span></div> <div style="text-align: justify;"> <b>Microlife AG (Switzerland) –</b> Hypertension and Fever Management Products (Digital Blood Pressure Machine, Aneroid Blood Pressure Machine & Stethoscope, Digital Thermometer)</div> <div style="text-align: justify;"> <b> Bayer HealthCare – </b>Diabetic Care Division</div> <div style="text-align: justify;"> <b>AMPall (Korea) – </b>Syringe and Infusion Pumps (Syringe Pump SP-8800, Infusion Pump IP-7700)</div> <div style="text-align: justify;"> <span> <b>Mitsubishi Electric – </b>Video Thermal Printer and Paper</span></div> <div style="text-align: justify;"> 2)<span> Sun Medical Concern:</span> Exclusive Distributor of</div> <div style="text-align: justify;"> <b>GE Healthcare – </b>Technologies (Medical Equipments)</div> <div style="text-align: justify;"> <b>GE Healthcare – </b>Diagnostics (Contrast Media)</div> <div style="text-align: justify;"> 3) Sun Exim:Manufacturer, Importer and Exporter of Medical Recording Paper</div> <div style="text-align: justify;"> 4)<span> Technical Associates Services Pte Ltd:</span> Exclusive Distributor of</div> <div style="text-align: justify;"> <b>Hitachi Air Compressor</b></div> <div style="text-align: justify;"> <b> Thermax Ltd </b>(India)</div> <div style="text-align: justify;"> <b> TAS Medical Gas System </b></div> <div style="text-align: justify;"> <b> Grundfos </b>(Denmark)</div> <div style="text-align: justify;"> 5)<span> Care Plus:</span>Branded Personal Healthcare Product showroom in the heart of Kathmandu City</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> SWOT Analysis</div> <div style="text-align: justify;"> Strengths</div> <div style="text-align: justify;"> Ø Quality of Products</div> <div style="text-align: justify;"> Ø Immediate After Sales Service</div> <div style="text-align: justify;"> Ø Engineer available on Hotline</div> <div style="text-align: justify;"> Ø Competitive Prices</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Weaknesses</div> <div style="text-align: justify;"> Ø Belief in honesty (Tulshyan says he doesn’t bribe to get business)</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Opportunities</div> <div style="text-align: justify;"> Ø Spreading awareness</div> <div style="text-align: justify;"> Ø Small health centres outside Kathmandu Valley</div> <div style="text-align: justify;"> Ø Largely unexploited market</div> <div style="text-align: justify;"> Ø Free BP check up camps in cities and small towns</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Threats</div> <div style="text-align: justify;"> Ø Low quality products</div> <div style="text-align: justify;"> Ø Unhealthy competition</div> <div style="text-align: justify;">  </div>', 'published' => true, 'created' => '2011-04-27', 'modified' => '0000-00-00', 'keywords' => '', 'description' => '“In Nepal, spreading awareness about personal healthcare is crucial. In order to live healthy, people must use quality products as it helps them know where they stand medically and take necessary precautions,in time.â€', 'sortorder' => '191', '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' => '264', 'article_category_id' => '39', 'title' => 'CG Education:Taking Education Beyond Classroom', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-align: justify;"> <b><img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/Bhushan Gurung.jpg" style="width: 197px; height: 141px;" vspace="2" />Bhushan Gurung</b></div> <div style="text-align: justify;"> GM</div> <div style="text-align: justify;"> CG Education</div> <div style="text-align: justify;"> “We believe in a system which is holistic and all encompassing. We envision learning which is self motivated, pragmatic and related to the present context. Our mission is to build an education brand synonymous with quality, scale and dynamism in Nepal.â€</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Encouraged by its spectacular growth in recent times, CG Education aims to have 10,000 students by 2015 under its umbrella. It encompasses schools from pre-school to mainstream schooling under both CBSE and HSEB boards. Ranging from kindergarten to post-graduate level, it plans to expand its reach and create facilities at all major cities in the country. Bhushan Gurung, the GM of CG Education asserts, “We believe in a system which is holistic and all encompassing. We envision learning which is self motivated, pragmatic and related to the present context. Our mission is to build an education brand synonymous with quality, scale and dynamism in Nepal.â€</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> The organisational vision is to be an integral part of the educational revolution and deliver quality to its students. “Our contribution will not only synergise the vibrant educational sector of the nation but will also activate others to follow suit,†adds Gurung. It was part of the strategic plan of Chaudhary Group, the parent company, to balance its investment portfolio between manufacturing and service sectors. CG Education is one venture that strengthens the group’s foray in the service sector where it sees a tremendous growth potential. More importantly, the society at large – students, government and the nation – will benefit from this gigantic effort.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> CG Education’s investment in its present portfolio of schools, colleges and institutes is over Rs 100 crores. This is spread over its flagship ‘The Chandbagh School’ with likely additions in Pokhara , Butwal and the ‘DPS School’ in Birgunj. The latest entrant under its flagship is ‘The Chandbagh Pre School’, a Montessori system based school for children up to six years of age. It envisages acquiring about 25 schools and institutions and bring them under the CG Education fold. The organisation also plans to work on a public-private partnership with Nepal Government on operating many government educational institutions. It hopes that this will result in a total enhancement of quality of these institutions in terms of faculty, infrastructure and management.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Chaudhary Group believes that high quality affordable education is the key to Nepal’s development. Based on the experience gained from running The Chandbagh School successfully in Kathmandu and with a desire to replicate and move to the next level, it entered into a joint venture with Manipal K-12 Education. The venture offers management services to existing and new schools under the brand name CG-Manipal Schools. It also offers <img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/cg edu.jpg" style="width: 349px; height: 164px;" vspace="2" />ICT-based School learning solutions and tutorials. “The CG-Manipal Schools is a logical extension of the Manipal Group’s strength in education and CG’s new initiatives in the field of education,†says Gurung. The schools are designed to use the right combination of technology and pedagogy for an effective learning process. Manipal K-12 is part of Pearson Education, the largest educational resource providing organisation in the world. In recent times, CG-Manipal has acquired the highly successful Campion Institutions namely Campion School-Lagankhel, Campion Academy-Lagankhel, Campion Kathmandu Higher Secondary School-Gahanapokhari and Campion College-Kupandole.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <strong><i>Digi</i> Classrooms</strong></div> <div style="text-align: justify;"> Involved in various educational activities in Nepal since 1996, CG Education has now initiated efforts to establish <i>Digi</i> Classrooms in the educational institutions of the country. It is a cognitive learning approach and is a widely accepted theory on the learning process. “CG Education is now taking an initiative to establish <i>Digi</i> Classrooms in the educational institutions of Nepal,†Gurung proudly states. CG Education wanted to introduce a new approach where students can understand better and retain new information and hence, the effort. <i>Digi</i> Class’s multimedia contents include audiovisual aids, demonstrations, simulations, rhymes, games, activity sheets, eBooks, 3D interactivity, and patterns which help teachers teach the students in a better way and make them understand better. The content support for digital classes is from Manipal K-12. The curriculum is as per the needs and requirements of boards such as CBSE and SLC/HSEB. The product is available in a hassle-free way under Single Window Service.<br />  </div> <div style="text-align: justify;"> The schools associated with CGEducation have already implemented ICT-enabled classes.<br />  </div> <div style="text-align: justify;"> <strong>CG Polytechnic</strong></div> <div style="text-align: justify;"> With the intention to develop skilled human resource for Nepali Industries and for better employment opportunities, CG Polytechnic aspires to be the backbone of country’s skill inventory. The Chaudhary Group of industries and Manmohan Memorial Polytechnic (MMP) have jointly launched a technical training programme at CG’s industrial village - CUG in Nawalparasi from September 2009 offering technical courses on mechanical and industrial faculties. The training includes both theory and practical classes in various technical subjects which is tailor made to meet industrial requirement. The main objective of the training is to bring significant improvement in human skill matrix of the organisation.<br />  </div> <div style="text-align: justify;"> CG Polytechnic is building its capacity to diversify into food technology, accountancy and many other sectors on the need assessment. To be more customer-oriented, it reaches different relevant stakeholders for need analysis as well as maintaining quality of education. In the very near future, CG Polytechnic will become a landmark where technical skills get honed to the highest level.<br />  </div> <div style="text-align: justify;"> <strong>Accreditation and Affiliation</strong></div> <div style="text-align: justify;"> CG Education wants to contribute in all streams of education with the aim to be acknowledged as an institution with complete educational solution. Apart from managing schools and colleges, CG Education is involved in the vocational sector as well. With this objective, it has joined hands with renowned educational institutions of the world. Its international affiliations and accreditations include CBSE Board, ‘A’ Level Cambridge University besides the joint venture with Manipal K-12. CG Education’s association with other educational institutions is intended to derive quality from their years of experience in mainstream education. It is also in the process of obtaining accreditation and affiliation with ISO, IB, ETS, ESOL and other renowned educational institutions and agencies.</div> <p style="text-align: justify;"> CG Education’s ultimate vision and mission is to impart world class holistic education and produce educated citizens equipped to meet international standards.</p>', 'published' => true, 'created' => '2011-04-27', 'modified' => '0000-00-00', 'keywords' => '', 'description' => '“We believe in a system which is holistic and all encompassing. We envision learning which is self motivated, pragmatic and related to the present context. Our....', 'sortorder' => '190', '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' => '263', 'article_category_id' => '39', 'title' => 'Leon Motors:Recreating Mitsubishi Magic', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-align: justify;"> <b><img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/Ashish Shrestha.jpg" style="width: 246px; height: 176px;" vspace="2" />Ashish Shrestha</b></div> <div style="text-align: justify;"> Executive Chairman</div> <div style="text-align: justify;"> Leon Motors Private Limited</div> <div style="text-align: justify;"> “A little over a decade ago, Mitsubishi Pajero was the synonym for an SUV (Sports Utility Vehicle). That perception changed during the quiet period of eight years but we hope to bring back the lost glory of yesteryears.â€</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Leon Motors Private Limited is the authorised sub-distributor in Nepal for Mitsubishi Motors Corporation, Japan and Mitsubishi Fuso Group, Japan. The company started importing Mitsubishi vehicles in 2008 and has sold over 150 units so far. 2010 was its most productive year in which it sold 70 units. The vehicles sold by the company fall on different price points ranging between Rs 4 million and Rs 12 million.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Leon Motors is the brainchild of its dynamic Executive Chairman Ashish Shrestha. Coming from a family that has traditionally dealt in gold for generations, Shrestha holds an MBA degree from American InterContinental University in United Kingdom. After returning to Nepal in 2006, he wanted to establish a business that suited his personality and justified his management acumen. And thus, Leon Motors came into being in 2007. It is currently focused on reviving the brand image of Mitsubishi Motors. The brand lost its charm and took a beating in the Nepali market due to non-availability of new models from 1998 till 2006. Shrestha says, “A little over a decade ago, Mitsubishi Pajero was the synonym for an SUV (Sports Utility Vehicle). That perception changed during the quiet period of eight years but we hope to bring back the lost glory of yesteryears.†He believes that 236 per cent duty on importing vehicles is astronomically high and plagues Nepali automobile market to a large extent. The company plans to revive Mitsubishi Fuso trucks and buses in 2011 to achieve its targeted growth of 10 per cent.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Shrestha rues the unhealthy competition that exists in the automobile market. According to him, a number of automobile companies in Nepal under-invoice their transactions which helps them to dodge the tax and reduce the retail price or increase their profit. He strongly believes that this unethical practice needs to be stopped as it creates unfair competition in the market. To make his point strong, Shrestha proudly shows a certification from TRACE Inc, a US based internationally recognised organisation promoting transparency and anti-bribery compliance in international business transactions.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> The company practices an ‘open door policy’ where the employees have direct access to Shrestha for any matter they need to discuss, be it a suggestion or a complaint. An outsider might as well feel that it’s a family run business. That’s the level of camaraderie which exists between the employees at Leon Motors. As part of its CSR (Corporate Social Responsibility) initiative, the company supports an NGO, Society Developer Nepal with its endeavour in providing education for underprivileged children.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Leon Auto Works is the sole authorised after-sales and service centre for Mitsubishi Motors Corporation and Mitsubishi Fuso Group. Besides this servicing arm of Leon Motors Private Limited, there are a number of group companies <i>(see box)</i>.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> This group of businesses employs more than 50 people on a permanent basis and considers itself blessed to have a dedicated workforce, many of whom have been involved in their jobs for years now. Shrestha believes that the market is circled with inflated prices, for example, unreal values of real estate holdings. He adds that this coupled with political instability are the major reasons behind people refraining from making investments in the country. On an optimistic note, however, the group plans to enter hospitality business by establishing boutique hotels. It is currently scouting for properties in Kathmandu and Pokhara and seeks to contribute towards Nepal’s tourism prospects. On a personal note, Shrestha has the burning desire in him to bring more hydropower projects to Nepal. He hopes to succeed in convincing investors to do so as it promises to put the country back on track to attain sustainable development. n</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Sister concerns of Leon Motors Pvt Ltd</div> <div style="text-align: justify;"> <b>1. Leon Global Private Limited (Trading) </b></div> <div style="text-align: justify;"> A successful trading house, it has represented an impressive list of international organisations on turnkey projects in Nepal. The company promotes development related projects in the tourism and civil aviation sector, establishment of industries, construction of hydropower projects, supply of communication equipments etc to Nepalese Army, Nepal Telecom and Civil Aviation Authority of Nepal and supply of construction equipments to the Ministry of Physical Planning & Works among others. It is extensively involved in liaison work and promotional activities and provides complete local support during pre and post tendering periods.<br />  </div> <div style="text-align: justify;"> <b>2. Leon Hager International Private Limited (Distribution)</b></div> <div style="text-align: justify;"> <span> It is into distribution business representing various international beverage companies around the world. It currently imports and distributes alcoholic and non alcoholic brands such as ‘Nite’, a ready-to-drink (RTD) product from Thai Spirit Industry Co Ltd, Thailand; ‘Ignite’, a vodka based RTD product from Ignite Corp Pty Ltd, Australia; ‘Jugular’ and ‘Rock’ energy drinks from Jugular Global Pacific Ltd, Australia; ‘Victoria Bitter’ – Australia’s highest selling beer – popularly known as VB from Foster’s Group and rich and robust cooking wines from Australia and France among other European countries.<br /> <br /> </span></div> <div style="text-align: justify;"> <b>3. Green City Development Private Limited (Township Development)</b></div> <div style="text-align: justify;"> This company was established in 2007 along with the leading business houses to develop first-of-a-kind township within the Kathmandu Valley. It plans to build a township covering approximately 387 acres of land with all modern amenities one can think of. Currently, the company is busy purchasing land at the site of the planned project. While it hopes to complete its land acquisition deals by this year end, the project plan and design is being prepared by a Singapore-based firm.<br />  </div> <div style="text-align: justify;"> <b>4. Ivory International Private Limited (Construction)</b></div> <div style="text-align: justify;"> <span> Involved in construction business, it has tied up with a leading Chinese construction company, China Railway Engineering Group Co Ltd. This joint venture has been constructing various projects that include commercial buildings, hospitals, hotels, apartment buildings, super malls, roads, bridges, hydropower plants and many more.</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> SWOT Analysis</div> <div style="text-align: justify;"> <b>Strengths </b></div> <div style="text-align: justify;"> *Strong management team</div> <div style="text-align: justify;"> *Prime location (Shantinagar, New Baneshwor)</div> <div style="text-align: justify;"> *Famous brand name</div> <div style="text-align: justify;"> * Innovative ideas</div> <div style="text-align: justify;"> <b>Weaknesses</b></div> <div style="text-align: justify;"> * Branding hiatus between 1998-2006</div> <div style="text-align: justify;"> * Lack of a state-of-the-art showroom</div> <div style="text-align: justify;"> <b>Opportunities</b></div> <div style="text-align: justify;"> * Impending expansion</div> <div style="text-align: justify;"> * Sports models</div> <div style="text-align: justify;"> (small hatchback cars by 2011 end)</div> <div style="text-align: justify;"> <b>Threats</b></div> <div style="text-align: justify;"> *Too many players in the market</div> <div style="text-align: justify;"> * Unhealthy competition</div> <div style="text-align: justify;"> * Competitors’ prices</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Mitsubishi Products in Nepal</div> <table border="1" cellpadding="1" cellspacing="1"> <tbody> <tr> <td style="text-align: justify;" width="28"> *</td> <td width="172"> <div style="text-align: justify;"> Mitsubishi Pajero</div> </td> </tr> <tr> <td width="28"> <div style="text-align: justify;"> *</div> </td> <td width="172"> <div style="text-align: justify;"> Pajero Sport</div> </td> </tr> <tr> <td width="28"> <div style="text-align: justify;"> *</div> </td> <td width="172"> <div style="text-align: justify;"> Outlander</div> </td> </tr> <tr> <td width="28"> <div style="text-align: justify;"> *</div> </td> <td width="172"> <div style="text-align: justify;"> Active Smart X-SUV (ASX)</div> </td> </tr> <tr> <td width="28"> <div style="text-align: justify;"> *</div> </td> <td width="172"> <div style="text-align: justify;"> L200 Sportero</div> </td> </tr> <tr> <td style="text-align: justify;" width="28"> *</td> <td width="172"> <div style="text-align: justify;"> L300</div> </td> </tr> <tr> <td style="text-align: justify;" width="28"> *</td> <td width="172"> <div style="text-align: justify;"> Lancer Ex</div> </td> </tr> <tr> <td style="text-align: justify;" width="28"> *</td> <td width="172"> <div style="text-align: justify;"> Rosa</div> </td> </tr> <tr> <td width="28"> <div style="text-align: justify;"> *</div> </td> <td width="172"> <div style="text-align: justify;"> Heavy Duty Trucks & Buses </div> </td> </tr> </tbody> </table> <p style="text-align: justify;">  </p>', 'published' => true, 'created' => '2011-04-27', 'modified' => '0000-00-00', 'keywords' => '', 'description' => '“A little over a decade ago, Mitsubishi Pajero was the synonym for an SUV (Sports Utility Vehicle). That perception changed during the quiet period of eight years but we hope to bring back the lost glory of yesteryears.â€', 'sortorder' => '189', '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' => '211', 'article_category_id' => '39', 'title' => 'BOK: Changed Focus', 'sub_title' => '', 'summary' => null, 'content' => '<p> <!--[if gte mso 9]><xml> <w:WordDocument> <w:View>Normal</w:View> <w:Zoom>0</w:Zoom> <w:TrackMoves/> <w:TrackFormatting/> <w:PunctuationKerning/> <w:ValidateAgainstSchemas/> <w:SaveIfXMLInvalid>false</w:SaveIfXMLInvalid> <w:IgnoreMixedContent>false</w:IgnoreMixedContent> <w:AlwaysShowPlaceholderText>false</w:AlwaysShowPlaceholderText> <w:DoNotPromoteQF/> <w:LidThemeOther>EN-US</w:LidThemeOther> <w:LidThemeAsian>X-NONE</w:LidThemeAsian> <w:LidThemeComplexScript>X-NONE</w:LidThemeComplexScript> <w:Compatibility> <w:BreakWrappedTables/> <w:SnapToGridInCell/> <w:WrapTextWithPunct/> <w:UseAsianBreakRules/> <w:DontGrowAutofit/> <w:SplitPgBreakAndParaMark/> <w:DontVertAlignCellWithSp/> <w:DontBreakConstrainedForcedTables/> <w:DontVertAlignInTxbx/> <w:Word11KerningPairs/> <w:CachedColBalance/> </w:Compatibility> <m:mathPr> <m:mathFont m:val="Cambria Math"/> <m:brkBin m:val="before"/> <m:brkBinSub m:val="--"/> <m:smallFrac m:val="off"/> <m:dispDef/> <m:lMargin m:val="0"/> <m:rMargin m:val="0"/> <m:defJc m:val="centerGroup"/> <m:wrapIndent m:val="1440"/> <m:intLim m:val="subSup"/> <m:naryLim m:val="undOvr"/> </m:mathPr></w:WordDocument> </xml><![endif]--><!--[if gte mso 9]><xml> <w:LatentStyles DefLockedState="false" DefUnhideWhenUsed="true" DefSemiHidden="true" DefQFormat="false" DefPriority="99" LatentStyleCount="267"> <w:LsdException Locked="false" Priority="0" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Normal"/> <w:LsdException Locked="false" Priority="9" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="heading 1"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 2"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 3"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 4"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 5"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 6"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 7"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 8"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 9"/> <w:LsdException Locked="false" Priority="39" Name="toc 1"/> <w:LsdException Locked="false" Priority="39" Name="toc 2"/> <w:LsdException Locked="false" Priority="39" Name="toc 3"/> <w:LsdException Locked="false" Priority="39" Name="toc 4"/> <w:LsdException Locked="false" Priority="39" Name="toc 5"/> <w:LsdException Locked="false" Priority="39" Name="toc 6"/> <w:LsdException Locked="false" Priority="39" Name="toc 7"/> <w:LsdException Locked="false" Priority="39" Name="toc 8"/> <w:LsdException Locked="false" Priority="39" Name="toc 9"/> <w:LsdException Locked="false" Priority="35" QFormat="true" Name="caption"/> <w:LsdException Locked="false" Priority="10" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Title"/> <w:LsdException Locked="false" Priority="1" Name="Default Paragraph Font"/> <w:LsdException Locked="false" Priority="11" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Subtitle"/> <w:LsdException Locked="false" Priority="22" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Strong"/> <w:LsdException Locked="false" Priority="20" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Emphasis"/> <w:LsdException Locked="false" Priority="59" SemiHidden="false" UnhideWhenUsed="false" Name="Table Grid"/> <w:LsdException Locked="false" UnhideWhenUsed="false" Name="Placeholder Text"/> <w:LsdException Locked="false" Priority="1" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="No Spacing"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 1"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 1"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 1"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 1"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 1"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 1"/> <w:LsdException Locked="false" UnhideWhenUsed="false" Name="Revision"/> <w:LsdException Locked="false" Priority="34" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="List Paragraph"/> <w:LsdException Locked="false" Priority="29" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Quote"/> <w:LsdException Locked="false" Priority="30" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Intense Quote"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 1"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 1"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 1"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 1"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 1"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 1"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 1"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 1"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 2"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 2"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 2"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 2"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 2"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 2"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 2"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 2"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 2"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 2"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 2"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 2"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 2"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 2"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 3"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 3"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 3"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 3"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 3"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 3"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 3"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 3"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 3"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 3"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 3"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 3"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 3"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 3"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 4"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 4"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 4"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 4"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 4"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 4"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 4"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 4"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 4"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 4"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 4"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 4"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 4"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 4"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 5"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 5"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 5"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 5"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 5"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 5"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 5"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 5"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 5"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 5"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 5"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 5"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 5"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 5"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 6"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 6"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 6"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 6"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 6"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 6"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 6"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 6"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 6"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 6"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 6"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 6"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 6"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 6"/> <w:LsdException Locked="false" Priority="19" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Subtle Emphasis"/> <w:LsdException Locked="false" Priority="21" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Intense Emphasis"/> <w:LsdException Locked="false" Priority="31" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Subtle Reference"/> <w:LsdException Locked="false" Priority="32" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Intense Reference"/> <w:LsdException Locked="false" Priority="33" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Book Title"/> <w:LsdException Locked="false" Priority="37" Name="Bibliography"/> <w:LsdException Locked="false" Priority="39" QFormat="true" Name="TOC Heading"/> </w:LatentStyles> </xml><![endif]--><!--[if gte mso 10]> <style> /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} </style> <![endif]--></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <b><span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 55.5pt;"><span style="font-size: 16px;">B</span></span></b><span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">ank of Kathmandu (BOK) has two distinct identities. One, it is among the few commercial banks managed entirely by Nepali professionals. Second, it is the only commercial bank with more shares in the hands of the public shareholders than with the promoters. The Bank recorded some 25 per cent increase in its net profit in the first quarter of the current fiscal year (2010/11). In the first quarter of last fiscal year (2009/10), the Bank had a net profit of Rs 120 million. In this year’s corresponding period, the Bank’s net profit rose by some 40 million to cross Rs 160 million. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">“This time around, it was not wise to thicken the balance sheet by increasing deposits. Rather, we focused on increasing the net profit,†says Ajay Shrestha, Chief Executive Officer of the Bank since February 2010. “Aggressive deposit increase would only add to the costs. That’s why, we diverted our focus.†<br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">Though Shrestha joined BOK as its CEO just one year ago, he was not a complete stranger. He was the duty of the CEO in BOK for some six years and had left it to work in another bank. It was only two years gap when he rejoined BOK in February 2010. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">As of today, the total deposit of the Bank is around Rs 18 billion and the loan outstanding is around Rs 17 billion. “We are observing whether the same growth in profit margin will sustain in the coming quarters as well,†Shrestha adds. “Our effort will be to gain a reasonable growth in the profitability. Overall, our balance sheet is stable.†<br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">BOK started operation in March 1995 as a joint venture with the Siam Commercial Bank of Thailand. But the Bank could not do well due to various problems and the main reason cited is the ‘mixed-culture management’ of that time with Nepali and Thai management style not finding synergy. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">So, Siam Commercial Bank pulled out in the year 2000 selling its shares to the general Nepali public. The result was that the Bank’s management came to entirely Nepali hands and the performance of the Bank started turning around. The efforts undertaken during 2001-2004 period set the foundation for the Bank’s success in the following years, notes Shrestha. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">During this period, the Bank changed the customer profile. It focused on importers and exporters and also started project financing in areas such as medical colleges and hydropower. Though the Bank continued financing the corporate sector, it also initiated retail banking at the same time. Under retail banking, the Bank encouraged small account holders to open ‘Sajilo Bachat Khata’ which translates to ‘easy saving account’. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">Today, the Bank has 37 branches including the head office at Kamaladi, Kathmandu, 41 ATM outlets and 6 extension counters across the country. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">According to Shrestha, the human resource management of the bank is based on the concept of looking basically on two factors: recruitment standard and growth potential. “Under the first, we evaluate whether the new recruit is as per the level and requirements that we have set. Under the second, we provide growth potentials within the organisation for the hired ones.†<br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">The Bank, however, is not always lucky to get the manpower of required quality. Though most of the newcomers have a management degree, they still need brushing up their skills. The reason is that the fresh graduates are mostly with academic background in finance but the Bank needs people also for non-finance fields such as marketing, general management etc. This sometimes creates problems for the Bank. Marketing is very crucial for a bank to sustain and expand. “But, we don’t often get the manpower trained and educated on quality marketing,†laments Shrestha. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">However, the challenges in the human resource field don’t end there. As the competition is stiff in banking sector, one bank’s capable employees are lured by other banks offering attractive perks and benefits. According to Shrestha, his bank is facing this challenge by continuous training process. He stresses that as long as a bank has the capacity to train its staff, it would not be a problem when some individuals leave the bank. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">At present, the number of employees with the Bank is 780. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">According to the opinion of Shrestha, the people don’t differentiate between the banks much. For them, bank A and bank B are the same, he says and underlines the need to educate the people so that they could differentiate between the banks. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">When Shrestha rejoined BOK as its CEO in February 2010, Shrestha mainly concentrated on two initiatives to increase the customer base. First, he offered higher interest rates to small depositors and next, he brought the ‘unbanked’ population to banking service. In this connection, the Bank paid attention to expanding customer base outside the Kathmandu valley. And the result is that, in the last 10 months or so, some 30 thousand new accounts were opened in the Bank. “We ran a campaign making people aware that deposits are important in life. Being present ourselves in the field, we helped women, the disabled and the low income people open their own bank accounts,†says he. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">An account can be opened in BOK with Rs 1000 as balance to which the Bank adds Rs 300 from its side, thus making the ‘seed money’ rise up to Rs 1300. The Bank has also removed the minimum deposit requirement in the fixed deposit. However, BOK has not offered ‘zero balance’ or ‘Rs 1†accounts that many other banks are offering.<span style=""> </span>“Zero balance or Rs 1 accounts may not help the people to learn about generating value from their deposits. That’s why we did not go for that,†explains Shrestha.<span style=""> </span> <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">Another strategic decision of the Bank is to focus its lending to a few areas so that the profiting position is not lost. Therefore, the Bank is providing only a few types of loans such as corporate loan, SME loan, retail loan, credit card and development credit. The Bank has plans to become even more focused, reveals Shrestha. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">The Bank has changed even its focus in Corporate Social Responsibility. In the past, the Bank’s key priority areas used to be education, health and environment. But for the past few years, the Bank has been focusing on finance and banking. Under this, the Bank has been campaigning to raise people’s awareness on the value of deposits with the slogan, “We make your life easier.†<br /> </span></p> <p class="MsoNormal"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt; line-height: 115%;"><br /> </span></p> <p class="MsoNormal"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt; line-height: 115%;">Shrestha’s management mantra is efficiency, not volume. ‘Efficiency is a must for a bank’s survival’ is his refrain. </span><span style="font-size: 6.5pt; line-height: 115%; font-family: Wingdings; color: rgb(237, 28, 36); letter-spacing: -0.15pt;"><span style=""> </span> <br /> </span></p> <p class="MsoNormal" style="text-align: center;"> <span style="font-size: 20px;"><span color:="" franklin="" gothic="" heavy="" sans-serif=""><br /> </span></span></p> <p class="MsoNormal" style="text-align: center;"> <!--[if gte mso 9]><xml> <w:WordDocument> <w:View>Normal</w:View> <w:Zoom>0</w:Zoom> <w:TrackMoves/> <w:TrackFormatting/> <w:PunctuationKerning/> <w:ValidateAgainstSchemas/> <w:SaveIfXMLInvalid>false</w:SaveIfXMLInvalid> <w:IgnoreMixedContent>false</w:IgnoreMixedContent> <w:AlwaysShowPlaceholderText>false</w:AlwaysShowPlaceholderText> <w:DoNotPromoteQF/> <w:LidThemeOther>EN-US</w:LidThemeOther> <w:LidThemeAsian>X-NONE</w:LidThemeAsian> <w:LidThemeComplexScript>X-NONE</w:LidThemeComplexScript> <w:Compatibility> <w:BreakWrappedTables/> <w:SnapToGridInCell/> <w:WrapTextWithPunct/> <w:UseAsianBreakRules/> <w:DontGrowAutofit/> <w:SplitPgBreakAndParaMark/> <w:DontVertAlignCellWithSp/> <w:DontBreakConstrainedForcedTables/> <w:DontVertAlignInTxbx/> <w:Word11KerningPairs/> <w:CachedColBalance/> </w:Compatibility> <m:mathPr> <m:mathFont m:val="Cambria Math"/> <m:brkBin m:val="before"/> <m:brkBinSub m:val="--"/> <m:smallFrac m:val="off"/> <m:dispDef/> <m:lMargin m:val="0"/> <m:rMargin m:val="0"/> <m:defJc m:val="centerGroup"/> <m:wrapIndent m:val="1440"/> <m:intLim m:val="subSup"/> <m:naryLim m:val="undOvr"/> </m:mathPr></w:WordDocument> </xml><![endif]--><!--[if gte mso 9]><xml> <w:LatentStyles DefLockedState="false" DefUnhideWhenUsed="true" DefSemiHidden="true" DefQFormat="false" DefPriority="99" LatentStyleCount="267"> <w:LsdException Locked="false" Priority="0" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Normal"/> <w:LsdException Locked="false" Priority="9" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="heading 1"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 2"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 3"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 4"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 5"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 6"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 7"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 8"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 9"/> <w:LsdException Locked="false" Priority="39" Name="toc 1"/> <w:LsdException Locked="false" Priority="39" Name="toc 2"/> <w:LsdException Locked="false" Priority="39" Name="toc 3"/> <w:LsdException Locked="false" Priority="39" Name="toc 4"/> <w:LsdException Locked="false" Priority="39" Name="toc 5"/> <w:LsdException Locked="false" Priority="39" Name="toc 6"/> <w:LsdException Locked="false" Priority="39" Name="toc 7"/> <w:LsdException Locked="false" Priority="39" Name="toc 8"/> <w:LsdException Locked="false" Priority="39" Name="toc 9"/> <w:LsdException Locked="false" Priority="35" QFormat="true" Name="caption"/> <w:LsdException Locked="false" Priority="10" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Title"/> <w:LsdException Locked="false" Priority="1" Name="Default Paragraph Font"/> <w:LsdException Locked="false" Priority="11" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Subtitle"/> <w:LsdException Locked="false" Priority="22" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Strong"/> <w:LsdException Locked="false" Priority="20" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Emphasis"/> <w:LsdException Locked="false" Priority="59" SemiHidden="false" UnhideWhenUsed="false" Name="Table Grid"/> <w:LsdException Locked="false" UnhideWhenUsed="false" Name="Placeholder Text"/> <w:LsdException Locked="false" Priority="1" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="No Spacing"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 1"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 1"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 1"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 1"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 1"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 1"/> <w:LsdException Locked="false" UnhideWhenUsed="false" Name="Revision"/> <w:LsdException Locked="false" Priority="34" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="List Paragraph"/> <w:LsdException Locked="false" Priority="29" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Quote"/> <w:LsdException Locked="false" Priority="30" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Intense Quote"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 1"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 1"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 1"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 1"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 1"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 1"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 1"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 1"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 2"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 2"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 2"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 2"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 2"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 2"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 2"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 2"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 2"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 2"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 2"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 2"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 2"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 2"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 3"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 3"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 3"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 3"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 3"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 3"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 3"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 3"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 3"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 3"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 3"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 3"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 3"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 3"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 4"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 4"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 4"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 4"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 4"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 4"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 4"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 4"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 4"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 4"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 4"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 4"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 4"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 4"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 5"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 5"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 5"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 5"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 5"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 5"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 5"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 5"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 5"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 5"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 5"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 5"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 5"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 5"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 6"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 6"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 6"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 6"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 6"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 6"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 6"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 6"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 6"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 6"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 6"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 6"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 6"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 6"/> <w:LsdException Locked="false" Priority="19" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Subtle Emphasis"/> <w:LsdException Locked="false" Priority="21" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Intense Emphasis"/> <w:LsdException Locked="false" Priority="31" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Subtle Reference"/> <w:LsdException Locked="false" Priority="32" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Intense Reference"/> <w:LsdException Locked="false" Priority="33" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Book Title"/> <w:LsdException Locked="false" Priority="37" Name="Bibliography"/> <w:LsdException Locked="false" Priority="39" QFormat="true" Name="TOC Heading"/> </w:LatentStyles> </xml><![endif]--><!--[if gte mso 10]> <style> /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} </style> <![endif]--></p> <p style="text-align: center;"> <span style="font-size: 24px;"><span style="font-family: "Franklin Gothic Heavy","sans-serif"; color: rgb(237, 28, 36);">NIC Bank’s</span><span style="font-family: "Franklin Gothic Heavy","sans-serif"; color: rgb(46, 48, 146);"> Productive </span><span style="line-height: 115%; font-family: "Franklin Gothic Heavy","sans-serif"; color: rgb(46, 48, 146);">Orientation</span></span></p> <p style="text-align: justify;"> <span style="font-size: 55.5pt; letter-spacing: -0.2pt;"><span style="font-size: 20px;"><span style="font-size: 18px;">W</span></span></span><span style="letter-spacing: -0.2pt;">ith the conclusion of its 13th Annual General Meeting, Nepal Industrial and Commercial Bank Limited (NIC) has decided to distribute a cash dividend of 26.32 per cent. This is one of the highest dividend payout by any bank in 2010. The Bank posted a Net Profit of Rs 449.8 million in FY 2009/10 which is 42 per cent more than last year. The Bank’s Non-Performing Loans are very low at 0.7 per cent. Similarly, in the first four months of this year, the Bank has posted an operating profit of Rs 289 million. The investment of the Bank has also increased from Rs 3.026 billion to Rs 4.947 billion in FY 2009/10 which signifies 63 per cent growth. “Our investment portfolio clearly indicates that our exposure in productive sector is more than 90 per cent. We continue to capitalize on our strengths by increasing our investment in this sector. However, Small and Medium Enterprise sector will be focused more,†says Sunil Pokharel, Head, Retail Banking, NIC Bank. <br /> </span></p> <p class="BODYTEXT"> <span style="letter-spacing: -0.2pt;">The total workforce of the Bank is 320 with 33 per cent female. <br /> </span></p> <p class="BODYTEXT" style="text-align: justify;"> <span style="letter-spacing: -0.2pt;">NIC Bank had commenced its operation on 21st July, 1998 with its head office in Biratnagar. Promoted by several prominent business houses of Nepal, it started with a capital of Rs 500 million which was the highest paid up capital of any bank at that time. The paid-up capital increased to Rs 1.31 billion in FY 2009/10. The Bank has been in profit since its inception and has recorded a robust growth in its overall business and profitability during the recent years. <br /> </span></p> <p class="BODYTEXT" style="text-align: justify;"> <span style="letter-spacing: -0.2pt;">The Bank has been consistently embarking on sustainable network expansion and has successfully added several new branches every year in strategic new locations. At present, the Bank has a total of 28 branches and 26 ATMs across the country serving more than 112,000 customers. The Bank will shortly be opening four more branches and adding 10 ATMs. All its branches are inter-connected through V-SAT and optical-fibre network which is capable of providing on-line real time transactions. <br /> </span></p> <p class="BODYTEXT" style="text-align: justify;"> <span style="letter-spacing: -0.2pt;">Being the first ISO 9001:2008 certified commercial bank of the country, NIC has raised the bars on competition and become more committed towards delivering quality and superior products and services to the customers as well as maintaining corporate governance within its staffs. <br /> </span></p> <p class="BODYTEXT" style="text-align: justify;"> <span style="letter-spacing: -0.2pt;">NIC Bank has played a pioneering role in the Nepali banking sector introducing innovative and customized products and services to its customers. Deposit Products, Business Banking, SME Banking, Consumer Banking, Transaction Banking and Bullion Business are some of the products and services offered by NIC. “We are the first bank to introduce Savings Account Scheme bundled with life insurance. Also, we are the first to introduce fixed deposit account with the ease of a savings account. Recently, we have launched “Complete Savings Accounts†– a truly hassle free account for an individual and “NIC- Remit Savings Accounts†with unique features for those receiving fund from overseas,†says Pokharel.<span style=""> </span> <br /> </span></p> <p class="BODYTEXT" style="text-align: justify;"> <span style="letter-spacing: -0.2pt;">NIC was awarded “Bank of the Year 2007†honour by The Banker Magazine, Financial Times, London. Besides this, it is the first bank in Nepal to be provided a line of credit by International Finance Corporation (IFC), an arm of World Bank Group under its Global Trade Finance Program, enabling the Bank’s Letter of Credit and Guarantee to be accepted by more than 200 banks worldwide. Also, it is the first bank to offer bullion trading and to offer lowest-price home loan schemes. <br /> </span></p> <p class="BODYTEXT" style="text-align: justify;"> <span style="letter-spacing: -0.2pt;">Over the course of five successive fiscal years, the bank’s performance has been tremendous. The Compounded Annual Growth Rate (CAGR) of the bank<span style=""> </span>is one of the highest in the industry for the last five years (see table). “The competition has always been tough. The increasing numbers of banks have now forced to come out from its comfort zone to provide quality services and look for new avenues in order to increase revenue by introducing new and innovative products to its customers. Therefore, we cannot be an exception,†says Pokharel. He adds, “We consider ourselves at the adolescence stage of corporate life cycle and there is a long way to have a turning point. We strongly believe in a positive corporate cultureâ€.<span style=""> </span> <br /> </span></p> <p class="BODYTEXT" style="text-align: justify;"> <span style="letter-spacing: -0.2pt;">The bank has special and distinct Corporate Social Responsibility (CSR) practice. It has sponsored many events and programs which mainly focus on enabling talent through education, creating opportunities through social investments and corporate volunteering. All the contributions and sponsorships come under the Bank’s CSR. As a responsible corporate house, NIC Bank contributes to the society in various ways through NIC Foundation (NICF), an independent non-profit organization promoted by the Bank. The foundation’s main objective is to bring positive societal changes through charitable works. It aims at helping marginalized and underprivileged communities through education, health and skill development. NIC has been providing scholarship to under privileged but meritorious girl children in Kathmandu. It has also been providing scholarship to the visually challenged students who hail from Jumla to pursue their higher education in Kathmandu. It has donated computers to a school of a remote area and provided financial assistance to an orphanage in Birgunj. It has donated two ambulances in Mid-Western Regional Hospital in Surkhet. It has also helped in construction of Mata Tripurasundari Temple at Dhobighat, Lalitpur and has supported to construct a trail from Kusma to Modi Beni in Parbat district. The Bank has also been organizing a Blood Donation Campaign every year. Furthermore, the Bank has also donated for the flood victims in Koshi and diarrhoea victims in Jajarkot. The Bank has recently taken initiatives for the development of sports in Nepal and has sponsored National Open Gymnastics Championship. NICF’s programs are sustained by the Bank’s contribution of 0.5 per cent from its annual profits. NIC is the only bank to have fixed the proportion of its profit to be set aside for such cause. <br /> </span></p> <p class="MsoNormal"> <span style="letter-spacing: -0.2pt;">Being a well established brand with 12 years history, NIC aims to continue striving for better performance and exceed the expectation of all stakeholders. Precisely, the Bank’s future plans are based on providing “Complete Financial Solutions†to the customers and good return on investment to its shareholders. “Apart from increasing footprints and investment in technology and system-upgradation (core banking system), we are also coming with new tailor made products to serve our anticipated customer needs. Also, we are bringing innovative products and services suitable for corporate customers as well as retail customers,†says Pokharel. </span></p> <p class="MsoNormal" style="text-align: center;"> <span style="font-size: 24px;"><span color:="" franklin="" gothic="" heavy="" sans-serif="">Imperial Finance</span><span color:="" franklin="" gothic="" heavy="" sans-serif="">: </span><span style="line-height: 115%; font-family: FranklinGothic; color: rgb(0, 94, 157);">Slow but Steady Steps</span></span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;">Imperial Finance Limited opened a branch on January 14, 2011 at New Road of Kathmandu. Though the company now has only two branches, the presence in the main business centre of the capital gives a very positive message as it is sure to contribute to the business expansion of the company. Established in March 2006 with Rs 50 million as the paid up capital, the company is growing robust with the capital now increased to Rs 150 million. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;">Binod Karki, Chief Executive Officer (CEO) of the company says that the visionary dedication of the founder members has brought the company to this point. The company now has its own building to house its head office for about three years now. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;">Today the company has expanded to two branches and multiplied its capital thrice from Rs 50 million to Rs 150 million, notes Karki who joined the company as the third CEO recently. Now the company is planning to increase its capital to Rs 200 million by 2013 (2070 BS) as required by the central bank. The promoters own 61 percent in the company withy the rest 39 per cent held by the general people. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;">To increase the capital, the company is distributing bonus shares. Last year the company provided 20 per cent bonus share and this year it is giving 15 per cent bonus share. Karki says that the company might also need to issue rights share in the coming days to meet the target of the capital increment. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;">The company has made an operating profit of Rs 47.12 million in the first quarter of the current fiscal year while it was Rs 52.04 million in the same period last year. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;">Last year the company had opened a branch in Narayanghat of Chitwan and the branch expansion continued this year with the New Road facility opened. But that is not sufficient for competition in the market that has so many players – commercial banks, development banks, finance companies and saving-credit cooperatives. However, Karki is confident of his company’s competitiveness.<span style=""> </span>Karki says, “We find ourselves ahead based on the asset and loan quality when compared to other companies.†<br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-', 'published' => true, 'created' => '2011-02-11', 'modified' => '2011-02-11', 'keywords' => '', 'description' => 'Bank of Kathmandu (BOK) has two distinct identities. One, it is among the few commercial banks managed entirely by Nepali professionals. Second, it is the only', 'sortorder' => '147', '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' => '55', 'article_category_id' => '39', 'title' => 'The Table Of Fishtail Lodge', 'sub_title' => '', 'summary' => null, 'content' => '<p> While in Pokhara, everybody enjoys the magnificent sight of Mt. Fishtail and the Fewa Lake.</p>', 'published' => true, 'created' => '2010-11-04', 'modified' => '2010-11-10', 'keywords' => '', 'description' => 'While in Pokhara, everybody enjoys the magnificent sight of Mt. Fishtail and the Fewa Lake.', 'sortorder' => '14', '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' => '54', 'article_category_id' => '39', 'title' => 'Naturally Embedded Hospitality', 'sub_title' => '', 'summary' => null, 'content' => '<p> Tibetan-style Grand Norling Hotel's Resort(GNHR) is situtated adjacent to beautiful Gokarna forest, yet just a turn from the main highway.</p>', 'published' => true, 'created' => '2010-11-04', 'modified' => '2010-11-11', 'keywords' => '', 'description' => 'Tibetan-style Grand Norling Hotel's Resort(GNHR) is situtated adjacent to beautiful Gokarna forest, yet just a turn from the main highway.', 'sortorder' => '13', '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' => '53', 'article_category_id' => '39', 'title' => 'National Insurance', 'sub_title' => '', 'summary' => null, 'content' => '<p> Against the backdrop of an unending political volatility in Nepal, coupled with economcs downturn and unhealthy competition in the general insurance segment.</p>', 'published' => true, 'created' => '2010-11-04', 'modified' => '2010-11-10', 'keywords' => '', 'description' => 'Against the backdrop of an unending political volatility in Nepal, coupled with economcs downturn and unhealthy competition in the general insurance segment.', 'sortorder' => '12', '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' => '52', 'article_category_id' => '39', 'title' => 'Pioneering Alternative Banking', 'sub_title' => '', 'summary' => null, 'content' => '<p> While branching out is the most strategic decision for most of the Nepali banks holds a different card. "We plan to bring seven million people under the fold of our mobile banking,'" says Ajaya B.saha head of Retail Finance Service, Laxmi Bank, pointing out to the viability of the techono-savvy alternative to banking today. </p>', 'published' => true, 'created' => '2010-11-04', 'modified' => '2010-11-10', 'keywords' => '', 'description' => 'While branching out is the most strategic decision for most of the Nepali banks holds a different card.', 'sortorder' => '11', '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
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '394', 'article_category_id' => '39', 'title' => 'Etihad Airways-International(july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-indent: 0in; text-align: justify;"> <span style="font-size: 12pt; letter-spacing: 0.1pt;">E</span><span style="letter-spacing: 0.1pt;">tihad seeks to reflect the best of Arabian hospitality as well as enhance the prestige of Abu Dhabi as a centre of hospitality between East and West. Its goal is to be a truly 21st century global airline challenging and changing the established conventions of airline hospitality. Apart from providing a relaxing experience, it strives to make travel safe and environment-friendly by practicing the highest global standards in both these areas. The airline is constantly innovating, taking the smallest detail into account in its pursuit of excellence and perfection. The overall ambition of Etihad Airways is to be the best airline in the world. </span></div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> Etihad is governed by a Board of Directors under the chairmanship of HH Sheikh Hamed bin Zayed Al Nahyan while the airline’s management team is led by James Hogan who was appointed as Chief Executive Officer in October 2006 to lead the airline’s continued successful growth and development. The ongoing redevelopment work at Abu Dhabi International Airport has significantly enhanced the experience for guests. The second runway, officially opened in October 2008, is part of a large scale UAE Dirham (AED) 25 billion redevelopment programme and expansion project at the airport. Terminal 3 at Abu Dhabi Airport, an exclusive facility for Etihad, was opened in February 2009 increasing the airport’s passenger handling capacity from five to 12 million passengers a year. The first phase of a Midfield Terminal Complex is due for completion in the next few years and will take the airport’s handling capacity to 20 million passengers. The airport will be capable of handling 40 million passengers by 2030 when the project is completed.<br />  </div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0.1pt;">Fleet and network</span></strong></div> <div style="text-align: justify;"> <span style="letter-spacing: 0.1pt;">Etihad’s fleet, among the youngest in the world, has 57 aircraft operating 1,032 flights per week serving an international network of 68 destinations in 45 countries in the Middle East, North America (New York, Chicago and Toronto), Africa, Europe, Australia and Asia (including Kathmandu in Nepal). In addition, Etihad has 30 code-share agreements in place, building the airline’s international network. As part of its long term vision, Etihad plans to operate in up to 100 major business and leisure destinations around the world by 2020. </span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: 0.1pt;">The airline announced the largest aircraft order in commercial aviation history at Farnborough International Air show in 2008, for up to 205 aircraft – 100 firm orders, 55 options (guaranteeing the price of the aircraft and the delivery date) and 50 purchase rights (guaranteeing the price of the aircraft but not the delivery date).<br /> <br /> </span></div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0.1pt;">People and Company Growth </span></strong></div> <div style="text-align: justify;"> <span style="letter-spacing: 0.1pt;">Currently, close to 8,000 people work at Etihad Airways with the majority based in Abu Dhabi and the UAE. In order to meet Etihad’s predicted fleet, passenger and destination growth by 2020 – which plans for more than 25 million passengers to fly to more than 100 destinations aboard a fleet of 150 planes – the airline will need a workforce of approximately 27,000 people. In 2010, Etihad saw passenger numbers top 7 million (7.1 million passengers carried) for the first time and revenue passenger kilometres (RPKs) rise 20.1 per cent. Etihad’s revenue exceeded US $2.9 billion in 2010. </span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: 0.1pt;">On the ground, Etihad has introduced a range of services designed to make the travel experience as comfortable, smooth and fast as possible. It offers a range of convenient ground services, including Etihad Chauffeur, its premium limousine service available at 27 destinations globally, and premium lounges (370,000 lounge guests hosted) in Abu Dhabi, London, Frankfurt, Dublin and Manchester.<br /> <br /> </span></div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0.1pt;">Etihad Guest</span></strong></div> <div style="text-align: justify;"> <span style="letter-spacing: -0.35pt;">Etihad Guest is an award-winning loyalty programme boasting over one million members to date. Launched in August 2006, the programme offers its members opportunities to accumulate Etihad Guest Miles which can be redeemed against a wide selection of over 1,800 flight and non-flight rewards from over 200 partners. Non-flight rewards cover a wide variety of categories from computer and electronic equipment to jewellery and lifestyle products. Each year, over 40 promotions are organised by the CRM and Loyalty department and communicated to all Etihad Guest members.<br /> <br /> </span></div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0.1pt;">Sponsorships</span></strong></div> <div style="text-align: justify;"> <span style="letter-spacing: 0.1pt;">Etihad supports a range of sporting and cultural events in the UAE and the world over. These sponsorships are consistent with Etihad’s values of hospitality and team spirit and helps bring Abu Dhabi to the world and vice-versa. Its major sponsorships include Etihad Stadium, Ferrari Formula 1 (F1) Team, Sport Australia Hall of Fame, GAA Hurling All-Ireland Senior Championship, Harlequins Rugby Football Club, F1 Etihad Airways Abu Dhabi Grand Prix and Manchester City Football Club.<br /> <br /> </span></div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0.1pt;">Marketing </span></strong></div> <div style="text-align: justify;"> <span style="letter-spacing: 0.2pt;">The airline’s marketing department plays a major role in taking the Etihad Airways story to the world. Etihad was awarded ‘World’s Leading Airline’ at the World Travel Awards in 2010 for the second consecutive year. It set the benchmark for the airline’s brand communications enabling Etihad to inspire its audiences through a range of campaigns to ‘fly with the best’. The same year, it launched an international television advertising campaign titled ‘He Likes, She Likes’ showcasing the airline’s continued investment in products and services and commitment to offering a tailored, personal experience for every traveller.</span><span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.05pt;">n</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <strong>An Award Winning Airline</strong></div> <div style="text-align: justify;"> Etihad has received a range of awards that reflects its position as the leading premium airline brand in the world. In its first seven years of operation, its range of local and international awards includes:</div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2011 </span></b></div> <div style="text-align: justify;"> <span style=""> Best Long Haul Airline – Irish Travel Awards </span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2010 </span></b></div> <div style="text-align: justify;"> <span style=""> Airline of the Year – Aviation Business Awards </span></div> <div style="text-align: justify;"> <span style=""> World’s Leading Airline – World Travel Awards (second consecutive year)</span></div> <div style="text-align: justify;"> <span style=""> World’s Best First Class – Skytrax (judged by over 18 million air travellers worldwide in the annual Skytrax survey)</span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2009 </span></b></div> <div style="text-align: justify;"> <span style=""> World’s Leading Airline - World Travel Awards (WTA) </span></div> <div style="text-align: justify;"> <span style=""> Best Airline to the Middle East / Africa - Irish Travel Trade News awards, Dublin </span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2008 </span></b></div> <div style="text-align: justify;"> <span style=""> European Sponsorship of the Year Award - European Sponsorship Association </span></div> <div style="text-align: justify;"> <span style=""> James Hogan, Aviation CEO of the year - CEO Middle East awards (ITP) </span></div> <div style="text-align: justify;"> <span style=""> Best website www.etihadairways.com - Pan Arab Web Awards </span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2007 </span></b></div> <div style="text-align: justify;"> <span style=""> Best Economy class catering award - Skytrax </span></div> <div style="text-align: justify;"> <span style=""> The Middle East’s Leading Airline - World Travel Awards </span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2006 </span></b></div> <div style="text-align: justify;"> <span style=""> Middle East Airline of the Year - Pax International magazine </span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2005 </span></b></div> <div style="text-align: justify;"> <span style="font-size: 5.5pt;"> </span><span style="">Outstanding Food Service by a Carrier – Pax International magazine </span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2004 </span></b></div> <div style="text-align: justify;"> <span style=""> The World’s Leading New Airline – World Travel Awards</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="font-size: 13.5pt; letter-spacing: 0.15pt;">‘Essential Abu Dhabi’</span></div> <p style="text-align: justify;"> <span style="font-size: 11pt; line-height: 115%;">Etihad Airways has designated 2011 as ‘the year of Abu Dhabi’ with the launch of its ‘Essential Abu Dhabi’ destination marketing campaign. The campaign will see Etihad unveil a number of exciting promotional activities across the globe designed to enhance Abu Dhabi’s place as a top tourist and MICE (Meetings, Incentives, Conferences and Exhibitions) destination. All the major tourism operators in the emirate of Abu Dhabi have come together under one showcase umbrella for the first time to promote the very best UAE capital has to offer. The campaign is being supported by the Abu Dhabi Tourism Authority as a major partner. The programme is also targeting millions of passengers transiting through the Abu Dhabi hub, to entice them for a stopover in the city.</span></p>', 'published' => true, 'created' => '2011-09-01', 'modified' => '2011-09-01', 'keywords' => '', 'description' => 'Etihad seeks to reflect the best of Arabian hospitality as well as enhance the prestige of Abu Dhabi as a centre of hospitality between East and West. Its goal is to be a truly 21st.....', 'sortorder' => '310', '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' => '393', 'article_category_id' => '39', 'title' => 'ICFC: Going Steady(july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">ICFC Finance Limited has been largely successful in maintaining its liquidity while a number of financial institutions continue to face liquidity crunch. Sunil Pant, General Manager of ICFC, claimed the company maintains liquidity of 28 to 30 per cent at any given point of time. “Maintaining liquidity is our key concern at present. We think of profitability only after we have maintained enough liquidity,†he explains. The company has made a net profit of Rs 27.19 million by the end of third quarter of the current fiscal year.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">After being registered in 2003, ICFC commenced its operations from July 17, 2004. “We started with a paid-up capital of around Rs 25.5 million before going public,†Pant shared. In its seven years of operation, the company has Rs 330 million as paid-up capital out of core capital of Rs 400 million.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Pant asserts that success did not happen overnight. He says, “We are always focused on our future plans and tread a cautious path while lending.†He added that the finance company is headed by professionals with long exposure and experience in commercial banking. Ram Babu Pant heads the company as the CEO and has served as Deputy Governor of Nepal Rastra Bank (NRB) in the past. The board of directors too comprise of influential members under the chairmanship of Suresh Kumar Agrawal.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;"> “The economic sector was booming and there were a lot of business opportunities when we began our service,†says Pant. He claims ICFC’s Credit to Deposit ratio is around 70 to 75 per cent. He adds, “We never focused on investment in a single sector since the beginning.â€<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">At present, ICFC has deposits of around Rs 3 billion and loans and advances amounting to Rs 2.45 billion. Therefore, the difference between loans and deposit is around Rs 550 million while cash in reserve is about Rs 1.05 billion. It lends mostly in trading, industry and education sectors and less in hire purchase and margin lending. Pant said the company has refrained from investing in land plotting and real estate though it does grant personal and home loans.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The company has eight branches including the main branch at Bhatbhateni. Pant tells that ICFC opens a new branch only after the previous branch reaches break-even . It has been launching a new branch every year in a phase-wise manner. He opines, “We are a finance company so opening multiple branches at once will be challenging to manage. We do want to upgrade our status. However, we have opted to wait and watch given the current state of the economy.†He thinks the current liquidity crisis is snowballing into a sort of credit crunch. “We must maintain a strong position with respect to liquidity as we are responsible for safeguarding our depositors’ interests,†he asserted.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">ICFC has been giving either dividend or bonus shares to its stakeholders every year on an alternate basis. “A cash dividend of 15 per cent was given last year while bonus shares were issued the year before,†Pant states.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The finance company offers its own ATM services at every branch. It is also linked to the SCT network which has around 1,500 ATM counters throughout the country. Pant says that customer satisfaction is the topmost priority at ICFC. “We provide all banking products and facilities offered by a conventional bank,†he claims. The company provides all banking services including mobile banking, SMS banking and Internet banking apart from locker facilities at some of its branches.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Pant distinguishes ICFC from similar institutions through its quality of services provided. “Everyone is doing almost similar things in the market but we are more focused on service delivery along with our bouquet of total banking services,†Pant explains.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The company believes that banking industry largely depends on trust which should not be shaken at any cost. Therefore, the company has made corporate governance its top priority. Pant attributes the failure of some banks and finance companies to weak corporate governance rather than liquidity problem. Pant reassures ICFC was safe in the past and will remain safe in the future too. Its reputation has helped build a customer base of around 50,000 people.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">ICFC is increasing its access to micro financing through First Micro Finance Development Bank, of which it is a promoter. Little service differentiation between commercial banks and finance companies has led to competition between them. Pant feels that while competition is good and adds excitement to work, ICFC does not indulge in aggressive competition. He thinks customers are spoilt with choices today and are free to subscribe to better services and facilities offered by just any company.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">A total of 85 employees work at ICFC Finance Limited. Pant says, “We give equal priority to all ICFC family members and ensure a sense of belonging and job satisfaction. We give our people a lot of independence and authority to meet these objectives.†He adds that the company’s uncompromising attitude in providing facilities at par with the competitors has helped ensure employee retention to a large extent.<br /> <br /> </span></div> <div> <span style="font-size: 9.5pt; line-height: 115%;">ICFC plans to achieve and sustain unprecedented growth in the future. However, it is eagerly waiting for policies that will come in with the new fiscal year. “We can then decide our future course of action,†Pant concludes.</span></div> <div>  </div> <div style="margin: 11pt 0in 0.0001pt; vertical-align: middle;"> <span style="font-size: 11.5pt;">SWOT Analysis</span></div> <div style="margin: 5.65pt 0in 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Strengths:</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Team of experienced professionals</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Strong capital base</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Liquidity maintenance</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Total banking services</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Focus on service delivery</span></div> <div style="margin: 5.65pt 0in 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Weaknesses:</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Less number of branches</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Small capital size</span></div> <div style="margin: 5.65pt 0in 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Opportunities:</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Huge market potential</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Services and branches expansion</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Investment possibilities</span></div> <div style="margin: 5.65pt 0in 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Threats:</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Liquidity crunch in the market</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Political and policy instability</span></div> <div> <span style="font-size: 9.5pt; line-height: 115%; color: black;">Lack of investment environment</span></div> <div>  </div> <div align="center"> Unaudited Financial Results as of mid April 2011</div> <table border="0" cellpadding="0" cellspacing="0" style="margin-left: 4.1pt; border-collapse: collapse;"> <tbody> <tr style="height: 3pt;"> <td style="width: 91.95pt; border: 1pt solid white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 9.5pt;">Particulars</span></b></span></div> </td> <td style="width: 99.55pt; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: white white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 9.5pt;">Third quarter ending (by mid April)</span></b></span></div> </td> <td style="width: 119.2pt; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: white white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 9.5pt;">Corresponding previous year third quarter ending </span></b></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Paid up capital</span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">329,384</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">329,384</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Borrowings</span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">710,000</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">335,000</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Deposits</span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">3,059,446</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">2,3 71,753</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Investments</span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">189,835</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">139,468</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Loans and Advances</span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">2,451,804</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">2,168,906</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Net Profit</span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">27,196</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">41,964</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Non Performing Loan in percentage </span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">0.92%</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">0.49%</span></span></div> </td> </tr> </tbody> </table> <div align="right" style="text-align: right; text-indent: 0in;"> <i><span style="font-size: 7.5pt;">Source</span></i><span style="font-size: 7.5pt;">: ICFC Finance Limited</span></div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'ICFC Finance Limited has been largely successful in maintaining its liquidity while a number of financial institutions continue to face liquidity crunch. Sunil Pant, General Manager of.....', 'sortorder' => '309', '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' => '392', 'article_category_id' => '39', 'title' => 'Story Of NIDC's Turnaround (july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="margin-bottom: 0.0001pt; line-height: 120%; vertical-align: middle; text-align: justify;"> <span style="font-size: 14px;"><b><span style="line-height: 120%;">Shanta Bahadur Shrestha</span></b></span></div> <div style="margin-bottom: 0.0001pt; line-height: 120%; vertical-align: middle; text-align: justify;"> <span style="font-size: 14px;"><span style="line-height: 120%;">Chairman</span></span></div> <div style="text-align: justify;"> <span style="font-size: 14px;"><span style="line-height: 115%;">NIDC Board of Directors</span></span></div> <div style="text-align: justify;"> We are not in aggressive lending and what we have invested in the real estate sector is far below what is allowed by NRB.</div> <p>  </p> <div> <table cellpadding="0" cellspacing="0" hspace="0" style="width: 1px; height: 15px;" vspace="0"> <tbody> <tr> <td style="padding: 0in; text-align: justify;" valign="top">  </td> </tr> </tbody> </table> </div> <p style="text-align: justify;"> <span style="font-size: 9.5pt;">Nepal Industrial Development Corporation Ltd (NIDC), once a comatose public enterprise, has now turned around to become a vibrant company. It had an accumulated loss of Rs 1.41 billion in 2005-06, but it is now expecting a net profit of Rs 300 million in 2010-11. </span></p> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">“We are going to make profit this fiscal year and hopefully declare dividend also,†said Shanta Bahadur Shrestha, Chairman of NIDC Board of Directors and joint secretary at the Ministry of Finance, at the 53rd anniversary function of the corporation on June 15, 2011. Highlighting the recent achievements, company’s General Manager and Director Shivjee Roy Yadav noted that the company’s net worth per share that was a negative Rs 193.47 at the end of 2005-06 has now turned positive to Rs 192.87, by mid-April 2011.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">Behind the newly-found optimism is a long story of struggle and perseverance. Set up in 1959, this first development finance companybloomed till the early 1990s before sliding into a financial mess. Eventually, the government on February 24, 2004, decided to stop this public enterprise from extending any new loan and to focus on just recovering its investments. The plan was to ultimately liquidate the company.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">Though the government decision was made on the basis of a recommendation from PriceWaterhouseCoopers, the company’s management was finally able to convince the government that it can be revived and the government stands to lose if the company is liquidated. Then, a new decision was made by the government on March 2, 2009, that allowed the company to work as a deposit taking institution. Thus, the company started functioning as a bank and this change made the company rise from its deathbed and re-establish itself as a vibrant financial institution. NIDC commenced its banking service from February 8, 2010, and now it is a major provider of funds in the inter-bank market, Yadav claims. Meanwhile, the company focused on recovery and sold some of its investments in stocks. As a result, it fully repaid all the loans it had to pay to the Nepal Rastra Bank and the government. “This is indeed an achievement,†says Yadav, Had the government gone ahead with the liquidation as per the PriceWaterhoseCoopers recommendation, the Nepal Rastra Bank and the government would not have got their money back. Rather, they were required to inject additional capital to clear various other liabilities of the corporation.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">Today, NIDC has an authorised capital of Rs 1.20 billion of which Rs 600 million is issued and Rs 415 million is paid-up. Its non-performing loan has reduced to 75.6 percent by mid-April 2011 from 99.79 percent a year ago. This has further reduced to 70 percent by mid-June and the target is to reduce it further to 35 percent next year, says Yadav. This year’s revised estimate of the profit is lower than the initial estimate. The initial target was Rs 570 million but that could not be achieved as the plan to realise the loan of Himal Cement by selling the mortgaged assets could not go ahead. Similarly, the plan to sell the corporation’s shares in Nabil Bank and NIDC Capital Market could not implemented, explains Yadav. He expects to make these sales once the country’s property and share markets revive.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">Established on June 15, 1959, the company’s mission is to contribute to industrialisation of the country through industrial project financing. Initially, established as a corporation under a special law the Nepal Industrial Development Corporation Act 1959, it was later registered under the Company Act and in 2006 it was made a national level development bank under the Banks and Financial Institution Act 2006.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">From its beginning to mid-April 2004, NIDC invested more than Rs 6 billion in 1,520 industrial projects in different parts of the country. The company estimates that in those projects about 80,000 people received direct employment while 350,000 others got indirect employment.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">NIDC today offers its banking services from its head office in Kathmandu and two regional offices in Biratnagar and Pokhara. The plan is to start banking services also from the Nepalgunj and Dhangadhi offices with approval from the central bank. Meanwhile, the company has started ATM services by setting up an ATM station at the central office and the plan is to set up ATMs in other branches as well in other places of Kathmandu. 9 AGMs in One Go<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">One major recent development of the company is the AGM held on May 7, 2011. It is a major development because there has been no AGM for last nine years from 2001-02 through 2009-10. From the next year, the AGM will be regular, hopes Yadav. One major decision taken at the AGM is to change the company’s name into NIDC Bank Ltd, subject to approval from the relevant authority. <br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">Currently 99.26 per cent of the corporation’s ownership remains with the government while 0.74 per cent stakes are with the public. Therefore, the company’s shares are not traded in the stock exchange though it is listed there. Presenting the annual report to the shareholders in the May 7 AGM, the company’s chairman Shrestha informed about the plan to issue shares through further public offerings so as to increase its paid-up capital.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">Shrestha says, “We are not in aggressive lending and what we have invested in the real estate sector is far below what is allowed by NRB.†</span></div> <div style="text-align: justify;"> <span style="font-size: 9.5pt; line-height: 115%;">According to Shrestha, the company is also planning to offer services like 365 days banking, evening counter, Internet Banking, SMS Banking, Remittance Service, Mobile Banking among other new products. </span><span style="font-size: 6.5pt; line-height: 115%; color: rgb(237, 28, 36); letter-spacing: -0.05pt;">n</span></div> <div style="text-align: justify;">  </div> <div style="margin-top: 8.75pt; text-align: justify;"> <span style="font-size: 9pt;">Financial Statistics of NIDC as of third quarter of 2010/11</span></div> <div style="text-indent: 0in; text-align: justify;"> <i><span style="font-size: 6.5pt;">Rs in million</span></i></div> <table border="0" cellpadding="0" cellspacing="0" style="margin-left: 3.25pt; border-collapse: collapse;"> <tbody> <tr style="height: 3pt;"> <td rowspan="2" style="width: 86.15pt; border: 1pt solid white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">Particulars</span></b></span></div> </td> <td colspan="6" style="width: 224.45pt; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: white white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="299"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">Fiscal years</span></b></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">2005/06</span></b></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">2006/07</span></b></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">2007/08</span></b></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">2008/09</span></b></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">2009/10</span></b></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">2010/11 by mid April</span></b></span></div> </td> </tr> <tr style="height: 12pt;"> <td style="width: 86.15pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">Paid-up Capital</span></span></div> </td> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">415.8</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">415.8</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">415.8</span></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">415.8</span></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">415.8</span></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">415.8</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 86.15pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">Net Profit</span></span></div> </td> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(602.8)</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">87.5</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">797</span></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">172.2</span></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">354.5</span></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">87.4</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 86.15pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">Accumulated Profit (Loss)</span></span></div> </td> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(1416.2)</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(1347.3)</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(595.5)</span></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(459.3)</span></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(179.4)</span></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(109.5)</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 86.15pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">Reserves</span></span></div> </td> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">195.9</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">213.4</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">372.8</span></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">407.3</span></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">478.2</span></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">495.6</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 86.15pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">Networth/Share Rs</span></span></div> </td> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(293.46)</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(172.67)</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">46.44</span></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">87.48</span></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">171.86</span></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">192.87</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 86.15pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">Loan Investment</span></span></div> </td> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">1712.4</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">1466.8</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">1329.7</span></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">1258.5</span></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">1118.6</span></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">1273.6</span></span></div> </td> </tr> </tbody> </table> <div style="text-indent: 0in; text-align: justify;"> <i><span style="font-size: 6pt;">Source</span></i><span style="font-size: 6pt;">: NIDC Press Release on the 53rd anniversary day. </span></div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '2011-09-01', 'keywords' => '', 'description' => 'Nepal Industrial Development Corporation Ltd (NIDC), once a comatose public enterprise, has now turned around to become a vibrant company. It had an accumulated loss of Rs..........', 'sortorder' => '308', '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' => '311', 'article_category_id' => '39', 'title' => 'Wealth Exchange: The Business Of Patience', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-align: justify; text-indent: 0in;"> <b><span style="font-size: 8pt; line-height: 120%;"><img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/sanandan singh.jpg" style="width: 138px; height: 176px;" vspace="1" /><span style="color: rgb(178, 34, 34);">Sanandan Singh</span></span></b></div> <div style="text-align: justify; text-indent: 0in;"> <span style="color: rgb(178, 34, 34);"><span style="font-size: 7pt; line-height: 120%;">CEO</span></span></div> <div style="text-align: justify;"> <span style="color: rgb(178, 34, 34);"><span style="font-size: 7pt;">WEX</span></span></div> <div style="text-align: justify;"> <span style="color: rgb(178, 34, 34);">“We will make profits in a few years as we have not looked in the short term strategy. Our team has understood this and is committed to the vision of the company.â€</span></div> <div style="text-align: justify;"> <span style="color: rgb(178, 34, 34);"><br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;"> <span style="font-size: 12.5pt;">T</span><span style="font-size: 9.5pt;">he commodities exchange business is quite young in Nepal. However, the Wealth Exchange (WEX), the newest such exchange of the country is making big strides though it started business only about five months ago. Registered in March 2010, WEX began its operations from November 2010 as a spot exchange. It is the first spot exchange in Nepal where the number of futures exchanges is three. Sanandan Singh, the CEO of WEX said that the company entered the market at the right time. “This is our soft launching and the big one is yet to come’’, he added. The company is preparing to formally inaugurate its business amid a special function. Singh believes that something substantial like a good profit is required for an entry with a bang. “We are waiting for doing right thing at the right time,†he said.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">In the embryonic market that has just three commodities exchanges, WEX entered as the fourth company with a difference. Singh said that the Meta Trader 4 distinguishes the company from the rest. “Meta Trader 4 is a strong marketing tool for us,†Singh remarked. He explained the reasons for choosing the particular software as, “There is competition in the market and competitors have their own client and niche market. We wanted to introduce a product that is world renowned. And the software has helped to attract business for us.â€</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">WEX specialises in gold and silver. However, the company has the vision to expand its services further with various commodities. There are around 30 commodities traded across the globe. At WEX, gold and silver is virtually traded online with a margin, however, the company claims it can make physical delivery of gold and silver if the clients demand, subject to government regulation. “We have determined Rs 70,000 as the margin for a kilogram of gold which is a standard lot. For silver, the standard lot is 30 kg.†Recently, due to the demand of the investors, mini lot of 100 grams of gold has been introduced too.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">About choosing gold and silver for trading, Singh said, “In Nepal, awareness among the investors about commodities trading may further facilitate the investment climate and other products can be included in the long run. However, gold and silver are the most traded items in the world and known by all.â€</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Trading at WEX does not require bags of solid gold with you. Just a few clicks online and the job is done – thanks to the automated system. Clients make deposits online through the exchange’s banking partner Bank of Kathmandu and the amount is later transferred into the trading platform. Buying and selling to profits and losses are all counted and transferred online.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">There is a unique chain of communication between the company and the clients. The chain includes a clearing member which is in direct contact with WEX and that is followed by brokers and finally the clients. It is actually the brokers who make clients. The organisational communication adopted is vertical. Singh said, “We go down the line while they (clients and members) come up the line. Customers are not only of the brokers but also of the exchange.â€</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">WEX takes membership fees from clearing members and that is passed onto the brokers who may <img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/corporate focus1(1).jpg" style="width: 324px; height: 196px;" vspace="1" />pass this on to their customers. Singh said that the software is the most expensive part of operation of an exchange. He reveals that the company has already reached the breakeven point if the cost of software is excluded. </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Though the company is target oriented, Singh says there are no plans to make millions of rupees within a few months. Stating his company’s growth strategy he says, “We will make profits in a few years as we have not looked in the short term strategy. Our team has understood this and is committed to the vision of the company.†Singh’s principle is ‘Slow and steady wins the race.’ He said that the team is dedicated on strengthening the foundation. He claimed, “After laying the foundation stone, we have already risen above the ground. We are receiving feedback and we welcome criticism because it is a form of recognition too. The suggestion and feedback requested from us by the Securities Board of Nepal (SEBON) is an example of that.â€</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The company has marketed itself saying, ‘A majority of our clients will be in profit, provided they conduct a proper technical and fundamental analysis.’ Singh says the company won’t have any problem even if 100 per cent of its clients benefit. He defies the rule ‘someone has to lose when someone wins.’ Normally when a client makes profit, the exchange would be in loss. He clarifies, “We have managed the risk. Our philosophy is that clients may profit as much as they can. We are competent enough to pay them.†Singh said that the earning of the exchange is nominal. While 70 per cent of the commission of a standard lot is passed on to the brokers, 30 per cent is shared by the clearing member and the exchange. Currently, WEX’s objective is high turnover in low margin. The company has set the target of minimum trading of standard lots for a month.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">However, Singh presently sees limited encouragement among clients. “But we hope it will get better with time,†he said. According to Singh, though people have the money to invest they are reluctant to come into this sector due to their lack of knowledge about it. For that, the company has tied with Commodities Trading Institute for WEX certified courses for potential as well as existing clients and brokers. The company hopes to gain substantial momentum after some idea about this market is developed among the potential clients. When the number of brokers increases, the company receives software charge and membership fees which are the income of the company. </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Currently, there are around 100 clients and 16 brokers of WEX. The company has chosen to increase the clients by spreading knowledge about the commodities market and skills to do trading. Until now, the company has given orientation classes free of cost to 100 - 150 potential clients. The company considers this as an act of Corporate Social Responsibility even before starting to make any profits.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The company has plans to invest further in Corporate Social Responsibility (CSR) after it makes a strong foothold in the market. For now, the company likes to call its orientation classes and its responsible operation as CSR activities.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The company believes in good governance, transparency, decentralisation and system-run mechanism. Singh says, “We don’t believe in one man decision. It has to be a group decision always.†High moral ethics, integrity, discipline etc are must for anyone in the company. Currently, there are 12 staff members in WEX. “Our philosophy is that everyone in the office must have high degree of ethical standards, honesty and competency. ‘Salary is no bar for deserving candidates’ is our philosophy of human resource management and we guarantee a highly motivating career.â€</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">WEX does not feel any competition in the real sense. According to Singh, there is competition with three other exchanges but not in service, commission and platform. “We have monopoly as regards Meta Trader 4 and our efficient and professional standards,†he added.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Being a new entrant in the market, WEX has some challenges to defeat. Preconceived ideas that everyone will lose in the commodities trading has become the biggest challenge. “Brokers feel comfortable with old clients. They bargain unnaturally,†said Singh, “Limited knowledge and long term strategy are the main challenges we are facing now.â€</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The company believes steady growth is the best option for now considering the situation of the country. It is planning to expand its services beyond the Kathmandu Valley. Singh informed that there are already quite a few clients outside the capital. Therefore, expansion into major hubs like Biratnagar, Birgunj, Pokhara, Nepalgunj, Janakpur, Birtamod and Bhairahawa where the company sees immense potential, is in the pipeline. Similarly, WEX is focusing on increasing the number of brokers to 50 and clients to 1,000 in the near future. “We are quality focused. We look for clients who can spare their surplus money, but we don’t advise over stretching their expenses and over trading in the commodities market,†he explained.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The commodities market lacks the presence of regulatory authority and WEX strongly feels its requirement. Though there are directives, an Act is yet to be formulated. SEBON is proposed as the regulator by the Ministry of Finance. Singh said that an external regulator is needed for check and balance so that regular inspections are implemented and corrective measures are enacted by the exchanges as required by the regulator from time to time. Singh feels that the regulator can regulate the exchange companies and also help in developing the expertise of national and international standard. This sector is yet to be explored fully by the investors as opportunities are unlimited.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Though registered as a private limited company, WEX is working and looking forward to going public in the near future. It aims at being the premier commodities exchange in the country, managed by a highly professional and dedicated team for contributing towards the growth of this sector by disseminating knowledge and investment opportunities to investors. </span></div> <div style="text-align: justify;"> <span style="font-size: 9.5pt; line-height: 115%;">WEX is confident that the commodities market will grow tremendously and become popular in the days to come that open the new vista of investment and speculative trading to people in general. </span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> SWOT Analysis</div> <div style="text-align: justify;"> Strengths:</div> <div style="text-align: justify;"> • First Spot exchange in Nepal specialising in Gold and Silver</div> <div style="text-align: justify;"> • Huge capability to facilitate the most complex and demanding trading. The WEX Platform offers trading 24 hours a day throughout the trading week which is more than any other exchange in the country</div> <div style="text-align: justify;"> • The liquidity of trading is largest and most diverse. Ability to execute large purchases and sales orders quickly and efficiently</div> <div style="text-align: justify;"> • WEX market is fair, transparent and anonymous and its electronic trading platform offers the same opportunity for all participants</div> <div style="text-align: justify;"> • Good corporate governance with experienced team</div> <div style="text-align: justify;"> • First commodity exchange to introduce mobile trading</div> <div style="text-align: justify;"> • Contract does not expire in SPOT exchange unlike in future exchange</div> <div style="text-align: justify;"> Weaknesses:</div> <div style="text-align: justify;"> • Specialisation in two commodities. Unable to provide service to investors having interest in other commodities</div> <div style="text-align: justify;"> • Teething problems as WEX is in its initial stage</div> <div style="text-align: justify;"> • Unable to expand its potentials in the absence of a government regulator</div> <div style="text-align: justify;"> Opportunities:</div> <div style="text-align: justify;"> • Huge market potential</div> <div style="text-align: justify;"> • By-product of commodities market is not practised</div> <div style="text-align: justify;"> Threats:</div> <div style="text-align: justify;"> • Unstable political situation</div> <div style="text-align: justify;"> • Inadequate knowledge of commodities market</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Quick Facts</div> <div style="text-align: justify;"> • Incorporated at Company Registrar of Nepal on 18 March 2010</div> <div style="text-align: justify;"> • Came into operation from 11 Nov 2010</div> <div style="text-align: justify;"> • Number of Trading Members: 17</div> <div style="text-align: justify;"> • Number of active traders: More than 300</div> <div style="text-align: justify;"> • Strategic Bank: Bank of Kathmandu</div> <div style="text-align: justify;"> • Traded Commodities: Gold and Silver</div> <div style="text-align: justify;"> • Minimum Trading Size: 100 gm Gold and 5 Kg Silver at Rs 7,000 Margin</div> <div style="text-align: justify;"> • Trading Platform: Meta Trader 4</div> <div style="text-align: justify;"> • Spread (difference of bid and ask): 20 on Gold and 1 on Silver</div> <div style="text-align: justify;"> • Coverage outside the valley : 20 per cent</div> <div style="text-align: justify;"> • Average Monthly Transaction (standard lot): approximately 1,250</div> <div style="text-align: justify;"> • Average Monthly Transaction by number: 1,860</div> <div style="text-align: justify;"> • Average Monthly Transaction by individual investor: approx 6</div> <div style="text-align: justify;"> • Annual trading member target: 30</div> <div style="text-align: justify;"> • Annual target of active investors: 2,000</div> <div style="text-align: justify;"> • Annual target coverage outside Kathmandu Valley: 35 per cent of total</div> <div style="text-align: justify;"> <i><span style="font-size: 8pt;">Source</span></i><span style="font-size: 8pt;">: WEX</span></div> <div style="text-align: justify;">  </div>', 'published' => true, 'created' => '2011-06-03', 'modified' => '2011-06-03', 'keywords' => '', 'description' => 'The commodities exchange business is quite young in Nepal. However, the Wealth Exchange (WEX), the newest such exchange of the country is making big strides though it started business only about five months ago.', 'sortorder' => '234', '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' => '310', 'article_category_id' => '39', 'title' => 'Kist Bank’s Social Service', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-indent: 0in; text-align: justify;"> <span style="font-size: 13.5pt;"><img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/corporate focus.jpg" style="width: 204px; height: 183px;" vspace="1" />W</span>ith a network of 51 branches and 73 ATM outlets, Kist Bank Limited is slowly but surely inching towards becoming a premier bank. With an existing customer base of 300,000, the bank is focusing on providing faster and friendlier services. Kamal Prasad Gnawali, the Managing Director of the bank says, “Kist Bank stands for customers’ convenience and support. We always look forward to serve them by understanding their needs and designing tailored products.â€</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> Kist Merchant Banking and Finance was initially incorporated as a ‘C’ category financial institution in 2003 for undertaking limited banking activities. It started commercial banking activities as Kist Bank Limited from 7 May 2009. Starting with seven employees in 2003, it has 582 people in its ranks today. The bank has deposits to the tune of Rs 16 billion and loans of Rs 13 billion in current fiscal year 2010-11. In the last fiscal year 2009-10, the deposits and loans stood at Rs 15 billion and Rs 12.5 billion respectively.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> The bank is driven by values of efficiency in operations, integrity and a strong focus on catering the needs of every customer by offering high quality and cost effective products and services. The management team along with its dedicated employees operate in a highly automated environment. It has put in substantial efforts and investments in acquiring the best technologies available to build necessary banking infrastructure. The bank’s superior information technology and communication systems enable delivery of prompt and quality services.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: 0.1pt;">Due to its wide network of branches, a sizeable population has access to its banking services where most value added services come free of cost. Gnawali says that the transition to a full-fledged bank in 2009 was a major turning point in the company’s history. “It was a challenge in terms of manpower, market perception and expectations,†he admits. Having pioneered many products in Nepal’s financial sector, the bank these days does not pursue matters aggressively. It rather believes in a controlled business approach and focuses on individuals and SMEs as its clients.</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: 0.2pt;">A young bank with its employees averaging 26 years of age, it believes in a democratic style of working. The staff equation is well taken care of by maintaining a good balance between senior and junior employees. The human resource department at the bank conducts training every week to increase the efficiency of its workforce. Kist Bank believes in having a participative management and ensures easy access and direct approach among its employees. Gnawali was the First Runner Up at the prestigious MAN Awards 2010 under ‘Manager of the Year’ category. “Any award that I receive is because of the bank and not for me as an individual,†he says giving credit for his personal success to the bank’s management team. </span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <strong>Commitment to CSR</strong></div> <div style="text-align: justify;"> For Kist Bank, corporate social responsibility (CSR) has always been a top agenda. It means embracing responsibility for the impact of its activities on the environment, consumers, employees, communities, stakeholders and the public at large. Gnawali explains, “It helps us manage our business responsibly and sensibly for long term sustainable banking.â€</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <strong>Some CSR commitments of the bank include:</strong></div> <div style="text-indent: 0in; text-align: justify;"> <b> </b></div> <div style="text-indent: 0in; text-align: justify;"> <b><span style="">Cash Assistance to Cyclist Puskar Shah</span></b></div> <div style="text-align: justify;"> The bank honoured cyclist Puskar Shah as its goodwill ambassador and assisted him during his world cycling tour of 150 countries. It also provided a cash assistance of Rs 442,417 to Shah for his expedition to Mount Everest. Shah took to the summit the national flags of the countries he visiteda as well as a banner with the Kist Bank’s logo.</div> <div style="text-indent: 0in; text-align: justify;"> <b> </b></div> <div style="text-indent: 0in; text-align: justify;"> <b><span style="">Society of Economic Journalists (SEJON)</span></b></div> <div style="text-align: justify;"> The bank has provided a cash assistance of Rs 500,000 to SEJON to establish a revolving fund to provide annual award to three economic journalists. The bank hopes that this award will be an additional incentive to the journalists.</div> <div style="text-indent: 0in; text-align: justify;"> <b> </b></div> <div style="text-indent: 0in; text-align: justify;"> <b><span style="">Traffic Awareness Programme</span></b></div> <div style="text-align: justify;"> With the objective to raise the awareness among the commuters and drivers of public transport vehicles in urban areas, the bank has provided an assistance of Rs 240,000 to create 20,000 traffic awareness stickers. These stickers were pasted on public vehicles in coordination with Namuna Sadan and Media Agency.</div> <div style="text-indent: 0in; text-align: justify;"> <b> </b></div> <div style="text-indent: 0in; text-align: justify;"> <b><span style="">Cataract Surgery</span></b></div> <div style="text-align: justify;"> The bank provided Rs 12,500 for cataract surgery of five ophthalmic patients in an eye camp organised with the initiation of Reyukai Masunga Eye Hospital, Banepa.</div> <div style="text-indent: 0in; text-align: justify;"> <b> </b></div> <div style="text-indent: 0in; text-align: justify;"> <b><span style="">Gaurishankar Campus</span></b></div> <div style="text-align: justify;"> The bank provided cash and kind equivalent to Rs 84,000 for an enlightening discourse programme on Bhagawat Geeta aimed at collecting funds to convert Gaurishankar College at Charikot, Dolakha into a University.</div> <div style="text-indent: 0in; text-align: justify;"> <b> </b></div> <div style="text-indent: 0in; text-align: justify;"> <b><span style="">Street Lights</span></b></div> <div style="text-align: justify;"> Four street lights worth Rs 24,000 were installed at main road in Kalanki, Kathmandu in coordination with LOYUS, an NGO.</div> <div style="text-indent: 0in; text-align: justify;"> <b> </b></div> <div style="text-indent: 0in; text-align: justify;"> <b><span style="">River Conservation and Tree Plantation</span></b></div> <div style="text-align: justify;"> Under the initiation of National Nature Conservation Fund, the bank provided Rs 15,000 for planting 100,000 trees on the banks of Bagmati River.</div> <div style="text-indent: 0in; text-align: justify;"> <b> </b></div> <div style="text-indent: 0in; text-align: justify;"> <b><span style="">Children Memorial Monument and Garden</span></b></div> <div style="text-align: justify;"> A financial assistance of Rs 200,000 was made to Vishwo Shanti Prachar Manch, an NGO, for the construction of children memorial monument and garden near the entrance of Tribhuvan International Airport.</div> <div style="text-indent: 0in; text-align: justify;"> <b> </b></div> <div style="text-indent: 0in; text-align: justify;"> <b><span style="">Plans</span></b></div> <div style="text-align: justify;"> The bank says it has always been giving prime focus on physical infrastructure and human resource development. It has laid emphasis on acquiring state-of-the-art information technology to ensure the most secure transaction and remain competitive. It has enhanced its distribution outlet to reach un-banked areas and serve people with banking services.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> A few key plans of the bank are:</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Having acquired VISA’s Associate Membership in 2011, the bank is set to launch VISA accredited credit and debit cards this year. Presently, the bank has 150,000 debit card holders on its rolls.</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Last year, the company focused on expansion and building internal strength. Situation permitting and with a favourable environment, the bank’s dream this year is to turn multinational and extend its banking services to countries that have sizeable Nepali Diaspora.</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Increase customer base to 500,000 from the present 300,000.</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> The bank currently provides services to customers from its own buildings in Anamnagar, Birtamod, Damak, Biratnagar and Narayangarh. It wants to have own bank buildings at all possible branch locations. A multi-storey building which will house the bank’s main branch and head office is presently under construction at Anamnagar, Kathmandu.</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Too many players in the market have resulted in quality manpower crunch. To counter this, the bank plans to develop a competitive workforce to undertake higher responsibilities. Its training and development department bears the responsibility to train qualified individuals hired by the bank.</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Expand its remittance business making it accessible to a larger section of the population.</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Develop and launch innovative and customer-friendly products to meet the needs of people deprived of banking services. The bank has a research and development wing that carries out research effecting this direction.</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Support the investors to start large infrastructure development projects in the country.</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> The bank also plans to promote micro finance to develop self sustainable enterprises and make individuals self-reliant.</div> <div style="text-align: justify;"> <strong>Vision and Mission</strong></div> <div style="text-align: justify;"> Kist Bank’s vision is to become the best bank based on operational excellence and superior financial performance. It remains open to the idea of a merger. The bank aspires to become a leading bank by providing best quality financial products and services to its customers, enhancing shareholders value, creating excellent growth opportunity for its employees and contributing to the economic prosperity of the country. </div> <div style="text-align: justify;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 120%; vertical-align: middle;"> <b><span style="font-size: 8pt; line-height: 120%;"><img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/kamal prasad.jpg" style="width: 140px; height: 186px;" vspace="1" />Kamal Prasad Gnawali</span></b></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 120%; vertical-align: middle;"> <span style="font-size: 7pt; line-height: 120%;">Managing Director</span></div> <div style="text-align: justify;"> <span style="font-size: 7pt; line-height: 115%;">Kist Bank</span></div> <div style="text-align: justify;"> “The transition to a full-fledged bank in 2009 was a major turning point in the company’s history. It was a challenge in terms of manpower, market perception and expectations,â€</div> <div style="text-align: justify;"> <span style="color: rgb(165, 42, 42);"><br /> </span></div> <div style="text-align: justify;"> <span style="color: rgb(165, 42, 42);">Kist Bank Briefs</span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> The authorised capital is Rs 5 billion and the issued and paid-up capital Rs 2 billion.</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> 60 per cent of the paid-up capital is held by the promoters and remaining 40 per cent by the general public.</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> The shares of the bank are listed at Nepal Stock Exchange Limited (NEPSE) as ‘A’ category shares.</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; line-height: 115%; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span><span> The seven-member Board of Directors (BOD) has three Directors representing the promoters, two representing the general public and one representing the Professional Director.</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> SWOT Analysis</div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">Strengths: </span></b></div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Young and career-oriented workforce</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span>Good relations between Promoters and Directors</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Quick implementation of ideas</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> A sound infrastructure</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Impressive range of products</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Promoters’ trust in the institution</div> <div style="text-align: justify;"> <b><span style="">Weaknesses:</span></b></div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">* </span>Comparatively new entrant in the market</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Limited exposure in corporate banking</div> <div style="text-align: justify;"> <b><span style="">Opportunities:</span></b></div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Foray into corporate banking</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Further business expansion and development</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Build on existing infrastructure</div> <div style="text-align: justify;"> <b><span style="">Threats:</span></b></div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Mushrooming competitors</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Political instability</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; line-height: 115%; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span>Unhealthy competition</div>', 'published' => true, 'created' => '2011-06-03', 'modified' => '2011-06-03', 'keywords' => '', 'description' => 'With a network of 51 branches and 73 ATM outlets, Kist Bank Limited is slowly but surely inching towards becoming a premier bank. With an existing customer base of 300,000, the bank is focusing on providing faster and friendlier services.', 'sortorder' => '233', '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' => '265', 'article_category_id' => '39', 'title' => 'Healthcare Technologies: Promoting Personal Wellbeing', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-align: justify;"> <b><img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/Vineet Kumar Tulshyan.jpg" style="width: 218px; height: 168px;" vspace="2" />Vineet Kumar Tulshyan</b></div> <div style="text-align: justify;"> Director</div> <div style="text-align: justify;"> Healthcare Technologies Pvt Ltd</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> “In Nepal, spreading awareness about personal healthcare is crucial. In order to live healthy, people must use quality products as it helps them know where they stand medically and take necessary precautions,in time.â€</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Incorporated in 2001, Healthcare Technologies Pvt Ltd has come a long way since. With an annual turnover of Rs 80 million, it has targeted a growth of 15-20 per cent for 2011. Beginning with importing medical equipments in 2001, the company set up a Personal Healthcare Division in 2008. “Given the immense potential for its market in Nepal, we hope that the industry size grows by 1000 per cent,†says Vineet Kumar Tulshyan, the Director of the company. He adds that this tremendous growth can be realised by spreading awareness about personal healthcare. While the expected market is worth a whopping Rs 500 crores, Tulshyan says the current sales of personal healthcare products in Nepal are mere Rs 2-3 crores.<br />  </div> <div style="text-align: justify;"> Run by a group of young and experienced professionals with core interests in the healthcare sector, the company focuses its efforts in specialised areas. The primary objective of Healthcare Technologies is to deliver qualitative medical products and services to the health professionals in Nepal. It has been active in the healthcare sector in different forms and areas. The company imports and distributes medical and surgical equipments, surgical goods, personal healthcare items, laboratory products etc. Its medical equipments are received well in the private sector entities while it is the market leader in personal healthcare products. “Our Microlife range of products enjoy 50 per cent market share,†informs Tulshyan.<br />  </div> <div style="text-align: justify;"> <img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/corporate focus1.jpg" style="width: 266px; height: 166px;" vspace="2" />Healthcare Technologies caters its products to government institutes and organisations, pharmaceuticals companies, hospitals, medical colleges, nursing homes, INGOs and NGOs among others. It has a nationwide distribution network which carries out the work in the most professional manner possible. With its distribution channel in place all over Nepal, it has registered a rapid growth in the last three years. The company had a group turnover (Medical Division) of approx US$ 1.7 million in the last financial year, a growth of nearly 80 per cent. Besides the Kathmandu Valley, the company distributes its products through its dealer network in Butwal, Bhairahawa, Pokhara and Birgunj in central Nepal. Similarly, it has dealers in Nepalgunj in western Nepal and Janakpur, Biratnagar and Dharan in eastern Nepal. The company also indulges in direct marketing to hospitals and nursing homes.<br />  </div> <div style="text-align: justify;"> A total of 15 people are employed with the company under the medical division. Tulshyan says, “I have inculcated a culture in my colleagues that if the company grows, it benefits the employees too.†Healthcare Technologies was recognised by the Nepal Radiological Society in 2009 for its contributions. As part of its corporate social responsibility initiative, it has donated equipments such as Blood Pressure Machines and Thermometers to NGOs and charity hospitals. The company’s mission is to promote personal healthcare system in Nepal. Tulshyan reiterated that spreading awareness is crucial. “In order to live healthy, people must use quality products as it helps them know where they stand medically and take necessary precautions, in time,†says he.<br />  </div> <div style="text-align: justify;"> Tulshyan owes his company’s success to being honest with products and customers. Irrespective of temptations, he does not recommend sub-standard products, he explains. As part of the company’s future endeavours, he plans to manufacture surgical products and start exports in five years time if the government rules and regulations favour the business environment. He says that government support is absolutely important for the sector to flourish.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <strong>Healthcare Technologies and its sister concerns</strong></div> <div style="text-align: justify;"> 1)<span> Healthcare Technologies Pvt Ltd:</span> Exclusive Distributor of</div> <div style="text-align: justify;"> <span> <b>DeVilbiss Healthcare –</b> Portable Oxygen Concentrator and Respiratory Items (5 litre Compact Oxygen Concentrator, IGO Portable Oxygen Concentrator, IFill Personal Oxygen Station, CPAP & Bilevel CPAP)</span></div> <div style="text-align: justify;"> <b>Microlife AG (Switzerland) –</b> Hypertension and Fever Management Products (Digital Blood Pressure Machine, Aneroid Blood Pressure Machine & Stethoscope, Digital Thermometer)</div> <div style="text-align: justify;"> <b> Bayer HealthCare – </b>Diabetic Care Division</div> <div style="text-align: justify;"> <b>AMPall (Korea) – </b>Syringe and Infusion Pumps (Syringe Pump SP-8800, Infusion Pump IP-7700)</div> <div style="text-align: justify;"> <span> <b>Mitsubishi Electric – </b>Video Thermal Printer and Paper</span></div> <div style="text-align: justify;"> 2)<span> Sun Medical Concern:</span> Exclusive Distributor of</div> <div style="text-align: justify;"> <b>GE Healthcare – </b>Technologies (Medical Equipments)</div> <div style="text-align: justify;"> <b>GE Healthcare – </b>Diagnostics (Contrast Media)</div> <div style="text-align: justify;"> 3) Sun Exim:Manufacturer, Importer and Exporter of Medical Recording Paper</div> <div style="text-align: justify;"> 4)<span> Technical Associates Services Pte Ltd:</span> Exclusive Distributor of</div> <div style="text-align: justify;"> <b>Hitachi Air Compressor</b></div> <div style="text-align: justify;"> <b> Thermax Ltd </b>(India)</div> <div style="text-align: justify;"> <b> TAS Medical Gas System </b></div> <div style="text-align: justify;"> <b> Grundfos </b>(Denmark)</div> <div style="text-align: justify;"> 5)<span> Care Plus:</span>Branded Personal Healthcare Product showroom in the heart of Kathmandu City</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> SWOT Analysis</div> <div style="text-align: justify;"> Strengths</div> <div style="text-align: justify;"> Ø Quality of Products</div> <div style="text-align: justify;"> Ø Immediate After Sales Service</div> <div style="text-align: justify;"> Ø Engineer available on Hotline</div> <div style="text-align: justify;"> Ø Competitive Prices</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Weaknesses</div> <div style="text-align: justify;"> Ø Belief in honesty (Tulshyan says he doesn’t bribe to get business)</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Opportunities</div> <div style="text-align: justify;"> Ø Spreading awareness</div> <div style="text-align: justify;"> Ø Small health centres outside Kathmandu Valley</div> <div style="text-align: justify;"> Ø Largely unexploited market</div> <div style="text-align: justify;"> Ø Free BP check up camps in cities and small towns</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Threats</div> <div style="text-align: justify;"> Ø Low quality products</div> <div style="text-align: justify;"> Ø Unhealthy competition</div> <div style="text-align: justify;">  </div>', 'published' => true, 'created' => '2011-04-27', 'modified' => '0000-00-00', 'keywords' => '', 'description' => '“In Nepal, spreading awareness about personal healthcare is crucial. In order to live healthy, people must use quality products as it helps them know where they stand medically and take necessary precautions,in time.â€', 'sortorder' => '191', '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' => '264', 'article_category_id' => '39', 'title' => 'CG Education:Taking Education Beyond Classroom', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-align: justify;"> <b><img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/Bhushan Gurung.jpg" style="width: 197px; height: 141px;" vspace="2" />Bhushan Gurung</b></div> <div style="text-align: justify;"> GM</div> <div style="text-align: justify;"> CG Education</div> <div style="text-align: justify;"> “We believe in a system which is holistic and all encompassing. We envision learning which is self motivated, pragmatic and related to the present context. Our mission is to build an education brand synonymous with quality, scale and dynamism in Nepal.â€</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Encouraged by its spectacular growth in recent times, CG Education aims to have 10,000 students by 2015 under its umbrella. It encompasses schools from pre-school to mainstream schooling under both CBSE and HSEB boards. Ranging from kindergarten to post-graduate level, it plans to expand its reach and create facilities at all major cities in the country. Bhushan Gurung, the GM of CG Education asserts, “We believe in a system which is holistic and all encompassing. We envision learning which is self motivated, pragmatic and related to the present context. Our mission is to build an education brand synonymous with quality, scale and dynamism in Nepal.â€</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> The organisational vision is to be an integral part of the educational revolution and deliver quality to its students. “Our contribution will not only synergise the vibrant educational sector of the nation but will also activate others to follow suit,†adds Gurung. It was part of the strategic plan of Chaudhary Group, the parent company, to balance its investment portfolio between manufacturing and service sectors. CG Education is one venture that strengthens the group’s foray in the service sector where it sees a tremendous growth potential. More importantly, the society at large – students, government and the nation – will benefit from this gigantic effort.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> CG Education’s investment in its present portfolio of schools, colleges and institutes is over Rs 100 crores. This is spread over its flagship ‘The Chandbagh School’ with likely additions in Pokhara , Butwal and the ‘DPS School’ in Birgunj. The latest entrant under its flagship is ‘The Chandbagh Pre School’, a Montessori system based school for children up to six years of age. It envisages acquiring about 25 schools and institutions and bring them under the CG Education fold. The organisation also plans to work on a public-private partnership with Nepal Government on operating many government educational institutions. It hopes that this will result in a total enhancement of quality of these institutions in terms of faculty, infrastructure and management.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Chaudhary Group believes that high quality affordable education is the key to Nepal’s development. Based on the experience gained from running The Chandbagh School successfully in Kathmandu and with a desire to replicate and move to the next level, it entered into a joint venture with Manipal K-12 Education. The venture offers management services to existing and new schools under the brand name CG-Manipal Schools. It also offers <img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/cg edu.jpg" style="width: 349px; height: 164px;" vspace="2" />ICT-based School learning solutions and tutorials. “The CG-Manipal Schools is a logical extension of the Manipal Group’s strength in education and CG’s new initiatives in the field of education,†says Gurung. The schools are designed to use the right combination of technology and pedagogy for an effective learning process. Manipal K-12 is part of Pearson Education, the largest educational resource providing organisation in the world. In recent times, CG-Manipal has acquired the highly successful Campion Institutions namely Campion School-Lagankhel, Campion Academy-Lagankhel, Campion Kathmandu Higher Secondary School-Gahanapokhari and Campion College-Kupandole.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <strong><i>Digi</i> Classrooms</strong></div> <div style="text-align: justify;"> Involved in various educational activities in Nepal since 1996, CG Education has now initiated efforts to establish <i>Digi</i> Classrooms in the educational institutions of the country. It is a cognitive learning approach and is a widely accepted theory on the learning process. “CG Education is now taking an initiative to establish <i>Digi</i> Classrooms in the educational institutions of Nepal,†Gurung proudly states. CG Education wanted to introduce a new approach where students can understand better and retain new information and hence, the effort. <i>Digi</i> Class’s multimedia contents include audiovisual aids, demonstrations, simulations, rhymes, games, activity sheets, eBooks, 3D interactivity, and patterns which help teachers teach the students in a better way and make them understand better. The content support for digital classes is from Manipal K-12. The curriculum is as per the needs and requirements of boards such as CBSE and SLC/HSEB. The product is available in a hassle-free way under Single Window Service.<br />  </div> <div style="text-align: justify;"> The schools associated with CGEducation have already implemented ICT-enabled classes.<br />  </div> <div style="text-align: justify;"> <strong>CG Polytechnic</strong></div> <div style="text-align: justify;"> With the intention to develop skilled human resource for Nepali Industries and for better employment opportunities, CG Polytechnic aspires to be the backbone of country’s skill inventory. The Chaudhary Group of industries and Manmohan Memorial Polytechnic (MMP) have jointly launched a technical training programme at CG’s industrial village - CUG in Nawalparasi from September 2009 offering technical courses on mechanical and industrial faculties. The training includes both theory and practical classes in various technical subjects which is tailor made to meet industrial requirement. The main objective of the training is to bring significant improvement in human skill matrix of the organisation.<br />  </div> <div style="text-align: justify;"> CG Polytechnic is building its capacity to diversify into food technology, accountancy and many other sectors on the need assessment. To be more customer-oriented, it reaches different relevant stakeholders for need analysis as well as maintaining quality of education. In the very near future, CG Polytechnic will become a landmark where technical skills get honed to the highest level.<br />  </div> <div style="text-align: justify;"> <strong>Accreditation and Affiliation</strong></div> <div style="text-align: justify;"> CG Education wants to contribute in all streams of education with the aim to be acknowledged as an institution with complete educational solution. Apart from managing schools and colleges, CG Education is involved in the vocational sector as well. With this objective, it has joined hands with renowned educational institutions of the world. Its international affiliations and accreditations include CBSE Board, ‘A’ Level Cambridge University besides the joint venture with Manipal K-12. CG Education’s association with other educational institutions is intended to derive quality from their years of experience in mainstream education. It is also in the process of obtaining accreditation and affiliation with ISO, IB, ETS, ESOL and other renowned educational institutions and agencies.</div> <p style="text-align: justify;"> CG Education’s ultimate vision and mission is to impart world class holistic education and produce educated citizens equipped to meet international standards.</p>', 'published' => true, 'created' => '2011-04-27', 'modified' => '0000-00-00', 'keywords' => '', 'description' => '“We believe in a system which is holistic and all encompassing. We envision learning which is self motivated, pragmatic and related to the present context. Our....', 'sortorder' => '190', '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' => '263', 'article_category_id' => '39', 'title' => 'Leon Motors:Recreating Mitsubishi Magic', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-align: justify;"> <b><img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/Ashish Shrestha.jpg" style="width: 246px; height: 176px;" vspace="2" />Ashish Shrestha</b></div> <div style="text-align: justify;"> Executive Chairman</div> <div style="text-align: justify;"> Leon Motors Private Limited</div> <div style="text-align: justify;"> “A little over a decade ago, Mitsubishi Pajero was the synonym for an SUV (Sports Utility Vehicle). That perception changed during the quiet period of eight years but we hope to bring back the lost glory of yesteryears.â€</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Leon Motors Private Limited is the authorised sub-distributor in Nepal for Mitsubishi Motors Corporation, Japan and Mitsubishi Fuso Group, Japan. The company started importing Mitsubishi vehicles in 2008 and has sold over 150 units so far. 2010 was its most productive year in which it sold 70 units. The vehicles sold by the company fall on different price points ranging between Rs 4 million and Rs 12 million.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Leon Motors is the brainchild of its dynamic Executive Chairman Ashish Shrestha. Coming from a family that has traditionally dealt in gold for generations, Shrestha holds an MBA degree from American InterContinental University in United Kingdom. After returning to Nepal in 2006, he wanted to establish a business that suited his personality and justified his management acumen. And thus, Leon Motors came into being in 2007. It is currently focused on reviving the brand image of Mitsubishi Motors. The brand lost its charm and took a beating in the Nepali market due to non-availability of new models from 1998 till 2006. Shrestha says, “A little over a decade ago, Mitsubishi Pajero was the synonym for an SUV (Sports Utility Vehicle). That perception changed during the quiet period of eight years but we hope to bring back the lost glory of yesteryears.†He believes that 236 per cent duty on importing vehicles is astronomically high and plagues Nepali automobile market to a large extent. The company plans to revive Mitsubishi Fuso trucks and buses in 2011 to achieve its targeted growth of 10 per cent.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Shrestha rues the unhealthy competition that exists in the automobile market. According to him, a number of automobile companies in Nepal under-invoice their transactions which helps them to dodge the tax and reduce the retail price or increase their profit. He strongly believes that this unethical practice needs to be stopped as it creates unfair competition in the market. To make his point strong, Shrestha proudly shows a certification from TRACE Inc, a US based internationally recognised organisation promoting transparency and anti-bribery compliance in international business transactions.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> The company practices an ‘open door policy’ where the employees have direct access to Shrestha for any matter they need to discuss, be it a suggestion or a complaint. An outsider might as well feel that it’s a family run business. That’s the level of camaraderie which exists between the employees at Leon Motors. As part of its CSR (Corporate Social Responsibility) initiative, the company supports an NGO, Society Developer Nepal with its endeavour in providing education for underprivileged children.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Leon Auto Works is the sole authorised after-sales and service centre for Mitsubishi Motors Corporation and Mitsubishi Fuso Group. Besides this servicing arm of Leon Motors Private Limited, there are a number of group companies <i>(see box)</i>.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> This group of businesses employs more than 50 people on a permanent basis and considers itself blessed to have a dedicated workforce, many of whom have been involved in their jobs for years now. Shrestha believes that the market is circled with inflated prices, for example, unreal values of real estate holdings. He adds that this coupled with political instability are the major reasons behind people refraining from making investments in the country. On an optimistic note, however, the group plans to enter hospitality business by establishing boutique hotels. It is currently scouting for properties in Kathmandu and Pokhara and seeks to contribute towards Nepal’s tourism prospects. On a personal note, Shrestha has the burning desire in him to bring more hydropower projects to Nepal. He hopes to succeed in convincing investors to do so as it promises to put the country back on track to attain sustainable development. n</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Sister concerns of Leon Motors Pvt Ltd</div> <div style="text-align: justify;"> <b>1. Leon Global Private Limited (Trading) </b></div> <div style="text-align: justify;"> A successful trading house, it has represented an impressive list of international organisations on turnkey projects in Nepal. The company promotes development related projects in the tourism and civil aviation sector, establishment of industries, construction of hydropower projects, supply of communication equipments etc to Nepalese Army, Nepal Telecom and Civil Aviation Authority of Nepal and supply of construction equipments to the Ministry of Physical Planning & Works among others. It is extensively involved in liaison work and promotional activities and provides complete local support during pre and post tendering periods.<br />  </div> <div style="text-align: justify;"> <b>2. Leon Hager International Private Limited (Distribution)</b></div> <div style="text-align: justify;"> <span> It is into distribution business representing various international beverage companies around the world. It currently imports and distributes alcoholic and non alcoholic brands such as ‘Nite’, a ready-to-drink (RTD) product from Thai Spirit Industry Co Ltd, Thailand; ‘Ignite’, a vodka based RTD product from Ignite Corp Pty Ltd, Australia; ‘Jugular’ and ‘Rock’ energy drinks from Jugular Global Pacific Ltd, Australia; ‘Victoria Bitter’ – Australia’s highest selling beer – popularly known as VB from Foster’s Group and rich and robust cooking wines from Australia and France among other European countries.<br /> <br /> </span></div> <div style="text-align: justify;"> <b>3. Green City Development Private Limited (Township Development)</b></div> <div style="text-align: justify;"> This company was established in 2007 along with the leading business houses to develop first-of-a-kind township within the Kathmandu Valley. It plans to build a township covering approximately 387 acres of land with all modern amenities one can think of. Currently, the company is busy purchasing land at the site of the planned project. While it hopes to complete its land acquisition deals by this year end, the project plan and design is being prepared by a Singapore-based firm.<br />  </div> <div style="text-align: justify;"> <b>4. Ivory International Private Limited (Construction)</b></div> <div style="text-align: justify;"> <span> Involved in construction business, it has tied up with a leading Chinese construction company, China Railway Engineering Group Co Ltd. This joint venture has been constructing various projects that include commercial buildings, hospitals, hotels, apartment buildings, super malls, roads, bridges, hydropower plants and many more.</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> SWOT Analysis</div> <div style="text-align: justify;"> <b>Strengths </b></div> <div style="text-align: justify;"> *Strong management team</div> <div style="text-align: justify;"> *Prime location (Shantinagar, New Baneshwor)</div> <div style="text-align: justify;"> *Famous brand name</div> <div style="text-align: justify;"> * Innovative ideas</div> <div style="text-align: justify;"> <b>Weaknesses</b></div> <div style="text-align: justify;"> * Branding hiatus between 1998-2006</div> <div style="text-align: justify;"> * Lack of a state-of-the-art showroom</div> <div style="text-align: justify;"> <b>Opportunities</b></div> <div style="text-align: justify;"> * Impending expansion</div> <div style="text-align: justify;"> * Sports models</div> <div style="text-align: justify;"> (small hatchback cars by 2011 end)</div> <div style="text-align: justify;"> <b>Threats</b></div> <div style="text-align: justify;"> *Too many players in the market</div> <div style="text-align: justify;"> * Unhealthy competition</div> <div style="text-align: justify;"> * Competitors’ prices</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Mitsubishi Products in Nepal</div> <table border="1" cellpadding="1" cellspacing="1"> <tbody> <tr> <td style="text-align: justify;" width="28"> *</td> <td width="172"> <div style="text-align: justify;"> Mitsubishi Pajero</div> </td> </tr> <tr> <td width="28"> <div style="text-align: justify;"> *</div> </td> <td width="172"> <div style="text-align: justify;"> Pajero Sport</div> </td> </tr> <tr> <td width="28"> <div style="text-align: justify;"> *</div> </td> <td width="172"> <div style="text-align: justify;"> Outlander</div> </td> </tr> <tr> <td width="28"> <div style="text-align: justify;"> *</div> </td> <td width="172"> <div style="text-align: justify;"> Active Smart X-SUV (ASX)</div> </td> </tr> <tr> <td width="28"> <div style="text-align: justify;"> *</div> </td> <td width="172"> <div style="text-align: justify;"> L200 Sportero</div> </td> </tr> <tr> <td style="text-align: justify;" width="28"> *</td> <td width="172"> <div style="text-align: justify;"> L300</div> </td> </tr> <tr> <td style="text-align: justify;" width="28"> *</td> <td width="172"> <div style="text-align: justify;"> Lancer Ex</div> </td> </tr> <tr> <td style="text-align: justify;" width="28"> *</td> <td width="172"> <div style="text-align: justify;"> Rosa</div> </td> </tr> <tr> <td width="28"> <div style="text-align: justify;"> *</div> </td> <td width="172"> <div style="text-align: justify;"> Heavy Duty Trucks & Buses </div> </td> </tr> </tbody> </table> <p style="text-align: justify;">  </p>', 'published' => true, 'created' => '2011-04-27', 'modified' => '0000-00-00', 'keywords' => '', 'description' => '“A little over a decade ago, Mitsubishi Pajero was the synonym for an SUV (Sports Utility Vehicle). That perception changed during the quiet period of eight years but we hope to bring back the lost glory of yesteryears.â€', 'sortorder' => '189', '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' => '211', 'article_category_id' => '39', 'title' => 'BOK: Changed Focus', 'sub_title' => '', 'summary' => null, 'content' => '<p> <!--[if gte mso 9]><xml> <w:WordDocument> <w:View>Normal</w:View> <w:Zoom>0</w:Zoom> <w:TrackMoves/> <w:TrackFormatting/> <w:PunctuationKerning/> <w:ValidateAgainstSchemas/> <w:SaveIfXMLInvalid>false</w:SaveIfXMLInvalid> <w:IgnoreMixedContent>false</w:IgnoreMixedContent> <w:AlwaysShowPlaceholderText>false</w:AlwaysShowPlaceholderText> <w:DoNotPromoteQF/> <w:LidThemeOther>EN-US</w:LidThemeOther> <w:LidThemeAsian>X-NONE</w:LidThemeAsian> <w:LidThemeComplexScript>X-NONE</w:LidThemeComplexScript> <w:Compatibility> <w:BreakWrappedTables/> <w:SnapToGridInCell/> <w:WrapTextWithPunct/> <w:UseAsianBreakRules/> <w:DontGrowAutofit/> <w:SplitPgBreakAndParaMark/> <w:DontVertAlignCellWithSp/> <w:DontBreakConstrainedForcedTables/> <w:DontVertAlignInTxbx/> <w:Word11KerningPairs/> <w:CachedColBalance/> </w:Compatibility> <m:mathPr> <m:mathFont m:val="Cambria Math"/> <m:brkBin m:val="before"/> <m:brkBinSub m:val="--"/> <m:smallFrac m:val="off"/> <m:dispDef/> <m:lMargin m:val="0"/> <m:rMargin m:val="0"/> <m:defJc m:val="centerGroup"/> <m:wrapIndent m:val="1440"/> <m:intLim m:val="subSup"/> <m:naryLim m:val="undOvr"/> </m:mathPr></w:WordDocument> </xml><![endif]--><!--[if gte mso 9]><xml> <w:LatentStyles DefLockedState="false" DefUnhideWhenUsed="true" DefSemiHidden="true" DefQFormat="false" DefPriority="99" LatentStyleCount="267"> <w:LsdException Locked="false" Priority="0" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Normal"/> <w:LsdException Locked="false" Priority="9" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="heading 1"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 2"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 3"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 4"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 5"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 6"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 7"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 8"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 9"/> <w:LsdException Locked="false" Priority="39" Name="toc 1"/> <w:LsdException Locked="false" Priority="39" Name="toc 2"/> <w:LsdException Locked="false" Priority="39" Name="toc 3"/> <w:LsdException Locked="false" Priority="39" Name="toc 4"/> <w:LsdException Locked="false" Priority="39" Name="toc 5"/> <w:LsdException Locked="false" Priority="39" Name="toc 6"/> <w:LsdException Locked="false" Priority="39" Name="toc 7"/> <w:LsdException Locked="false" Priority="39" Name="toc 8"/> <w:LsdException Locked="false" Priority="39" Name="toc 9"/> <w:LsdException Locked="false" Priority="35" QFormat="true" Name="caption"/> <w:LsdException Locked="false" Priority="10" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Title"/> <w:LsdException Locked="false" Priority="1" Name="Default Paragraph Font"/> <w:LsdException Locked="false" Priority="11" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Subtitle"/> <w:LsdException Locked="false" Priority="22" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Strong"/> <w:LsdException Locked="false" Priority="20" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Emphasis"/> <w:LsdException Locked="false" Priority="59" SemiHidden="false" UnhideWhenUsed="false" Name="Table Grid"/> <w:LsdException Locked="false" UnhideWhenUsed="false" Name="Placeholder Text"/> <w:LsdException Locked="false" Priority="1" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="No Spacing"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 1"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 1"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 1"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 1"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 1"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 1"/> <w:LsdException Locked="false" UnhideWhenUsed="false" Name="Revision"/> <w:LsdException Locked="false" Priority="34" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="List Paragraph"/> <w:LsdException Locked="false" Priority="29" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Quote"/> <w:LsdException Locked="false" Priority="30" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Intense Quote"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 1"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 1"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 1"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 1"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 1"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 1"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 1"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 1"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 2"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 2"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 2"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 2"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 2"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 2"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 2"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 2"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 2"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 2"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 2"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 2"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 2"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 2"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 3"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 3"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 3"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 3"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 3"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 3"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 3"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 3"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 3"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 3"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 3"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 3"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 3"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 3"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 4"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 4"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 4"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 4"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 4"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 4"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 4"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 4"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 4"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 4"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 4"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 4"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 4"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 4"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 5"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 5"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 5"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 5"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 5"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 5"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 5"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 5"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 5"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 5"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 5"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 5"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 5"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 5"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 6"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 6"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 6"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 6"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 6"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 6"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 6"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 6"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 6"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 6"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 6"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 6"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 6"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 6"/> <w:LsdException Locked="false" Priority="19" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Subtle Emphasis"/> <w:LsdException Locked="false" Priority="21" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Intense Emphasis"/> <w:LsdException Locked="false" Priority="31" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Subtle Reference"/> <w:LsdException Locked="false" Priority="32" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Intense Reference"/> <w:LsdException Locked="false" Priority="33" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Book Title"/> <w:LsdException Locked="false" Priority="37" Name="Bibliography"/> <w:LsdException Locked="false" Priority="39" QFormat="true" Name="TOC Heading"/> </w:LatentStyles> </xml><![endif]--><!--[if gte mso 10]> <style> /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} </style> <![endif]--></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <b><span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 55.5pt;"><span style="font-size: 16px;">B</span></span></b><span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">ank of Kathmandu (BOK) has two distinct identities. One, it is among the few commercial banks managed entirely by Nepali professionals. Second, it is the only commercial bank with more shares in the hands of the public shareholders than with the promoters. The Bank recorded some 25 per cent increase in its net profit in the first quarter of the current fiscal year (2010/11). In the first quarter of last fiscal year (2009/10), the Bank had a net profit of Rs 120 million. In this year’s corresponding period, the Bank’s net profit rose by some 40 million to cross Rs 160 million. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">“This time around, it was not wise to thicken the balance sheet by increasing deposits. Rather, we focused on increasing the net profit,†says Ajay Shrestha, Chief Executive Officer of the Bank since February 2010. “Aggressive deposit increase would only add to the costs. That’s why, we diverted our focus.†<br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">Though Shrestha joined BOK as its CEO just one year ago, he was not a complete stranger. He was the duty of the CEO in BOK for some six years and had left it to work in another bank. It was only two years gap when he rejoined BOK in February 2010. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">As of today, the total deposit of the Bank is around Rs 18 billion and the loan outstanding is around Rs 17 billion. “We are observing whether the same growth in profit margin will sustain in the coming quarters as well,†Shrestha adds. “Our effort will be to gain a reasonable growth in the profitability. Overall, our balance sheet is stable.†<br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">BOK started operation in March 1995 as a joint venture with the Siam Commercial Bank of Thailand. But the Bank could not do well due to various problems and the main reason cited is the ‘mixed-culture management’ of that time with Nepali and Thai management style not finding synergy. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">So, Siam Commercial Bank pulled out in the year 2000 selling its shares to the general Nepali public. The result was that the Bank’s management came to entirely Nepali hands and the performance of the Bank started turning around. The efforts undertaken during 2001-2004 period set the foundation for the Bank’s success in the following years, notes Shrestha. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">During this period, the Bank changed the customer profile. It focused on importers and exporters and also started project financing in areas such as medical colleges and hydropower. Though the Bank continued financing the corporate sector, it also initiated retail banking at the same time. Under retail banking, the Bank encouraged small account holders to open ‘Sajilo Bachat Khata’ which translates to ‘easy saving account’. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">Today, the Bank has 37 branches including the head office at Kamaladi, Kathmandu, 41 ATM outlets and 6 extension counters across the country. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">According to Shrestha, the human resource management of the bank is based on the concept of looking basically on two factors: recruitment standard and growth potential. “Under the first, we evaluate whether the new recruit is as per the level and requirements that we have set. Under the second, we provide growth potentials within the organisation for the hired ones.†<br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">The Bank, however, is not always lucky to get the manpower of required quality. Though most of the newcomers have a management degree, they still need brushing up their skills. The reason is that the fresh graduates are mostly with academic background in finance but the Bank needs people also for non-finance fields such as marketing, general management etc. This sometimes creates problems for the Bank. Marketing is very crucial for a bank to sustain and expand. “But, we don’t often get the manpower trained and educated on quality marketing,†laments Shrestha. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">However, the challenges in the human resource field don’t end there. As the competition is stiff in banking sector, one bank’s capable employees are lured by other banks offering attractive perks and benefits. According to Shrestha, his bank is facing this challenge by continuous training process. He stresses that as long as a bank has the capacity to train its staff, it would not be a problem when some individuals leave the bank. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">At present, the number of employees with the Bank is 780. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">According to the opinion of Shrestha, the people don’t differentiate between the banks much. For them, bank A and bank B are the same, he says and underlines the need to educate the people so that they could differentiate between the banks. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">When Shrestha rejoined BOK as its CEO in February 2010, Shrestha mainly concentrated on two initiatives to increase the customer base. First, he offered higher interest rates to small depositors and next, he brought the ‘unbanked’ population to banking service. In this connection, the Bank paid attention to expanding customer base outside the Kathmandu valley. And the result is that, in the last 10 months or so, some 30 thousand new accounts were opened in the Bank. “We ran a campaign making people aware that deposits are important in life. Being present ourselves in the field, we helped women, the disabled and the low income people open their own bank accounts,†says he. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">An account can be opened in BOK with Rs 1000 as balance to which the Bank adds Rs 300 from its side, thus making the ‘seed money’ rise up to Rs 1300. The Bank has also removed the minimum deposit requirement in the fixed deposit. However, BOK has not offered ‘zero balance’ or ‘Rs 1†accounts that many other banks are offering.<span style=""> </span>“Zero balance or Rs 1 accounts may not help the people to learn about generating value from their deposits. That’s why we did not go for that,†explains Shrestha.<span style=""> </span> <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">Another strategic decision of the Bank is to focus its lending to a few areas so that the profiting position is not lost. Therefore, the Bank is providing only a few types of loans such as corporate loan, SME loan, retail loan, credit card and development credit. The Bank has plans to become even more focused, reveals Shrestha. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">The Bank has changed even its focus in Corporate Social Responsibility. In the past, the Bank’s key priority areas used to be education, health and environment. But for the past few years, the Bank has been focusing on finance and banking. Under this, the Bank has been campaigning to raise people’s awareness on the value of deposits with the slogan, “We make your life easier.†<br /> </span></p> <p class="MsoNormal"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt; line-height: 115%;"><br /> </span></p> <p class="MsoNormal"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt; line-height: 115%;">Shrestha’s management mantra is efficiency, not volume. ‘Efficiency is a must for a bank’s survival’ is his refrain. </span><span style="font-size: 6.5pt; line-height: 115%; font-family: Wingdings; color: rgb(237, 28, 36); letter-spacing: -0.15pt;"><span style=""> </span> <br /> </span></p> <p class="MsoNormal" style="text-align: center;"> <span style="font-size: 20px;"><span color:="" franklin="" gothic="" heavy="" sans-serif=""><br /> </span></span></p> <p class="MsoNormal" style="text-align: center;"> <!--[if gte mso 9]><xml> <w:WordDocument> <w:View>Normal</w:View> <w:Zoom>0</w:Zoom> <w:TrackMoves/> <w:TrackFormatting/> <w:PunctuationKerning/> <w:ValidateAgainstSchemas/> <w:SaveIfXMLInvalid>false</w:SaveIfXMLInvalid> <w:IgnoreMixedContent>false</w:IgnoreMixedContent> <w:AlwaysShowPlaceholderText>false</w:AlwaysShowPlaceholderText> <w:DoNotPromoteQF/> <w:LidThemeOther>EN-US</w:LidThemeOther> <w:LidThemeAsian>X-NONE</w:LidThemeAsian> <w:LidThemeComplexScript>X-NONE</w:LidThemeComplexScript> <w:Compatibility> <w:BreakWrappedTables/> <w:SnapToGridInCell/> <w:WrapTextWithPunct/> <w:UseAsianBreakRules/> <w:DontGrowAutofit/> <w:SplitPgBreakAndParaMark/> <w:DontVertAlignCellWithSp/> <w:DontBreakConstrainedForcedTables/> <w:DontVertAlignInTxbx/> <w:Word11KerningPairs/> <w:CachedColBalance/> </w:Compatibility> <m:mathPr> <m:mathFont m:val="Cambria Math"/> <m:brkBin m:val="before"/> <m:brkBinSub m:val="--"/> <m:smallFrac m:val="off"/> <m:dispDef/> <m:lMargin m:val="0"/> <m:rMargin m:val="0"/> <m:defJc m:val="centerGroup"/> <m:wrapIndent m:val="1440"/> <m:intLim m:val="subSup"/> <m:naryLim m:val="undOvr"/> </m:mathPr></w:WordDocument> </xml><![endif]--><!--[if gte mso 9]><xml> <w:LatentStyles DefLockedState="false" DefUnhideWhenUsed="true" DefSemiHidden="true" DefQFormat="false" DefPriority="99" LatentStyleCount="267"> <w:LsdException Locked="false" Priority="0" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Normal"/> <w:LsdException Locked="false" Priority="9" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="heading 1"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 2"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 3"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 4"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 5"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 6"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 7"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 8"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 9"/> <w:LsdException Locked="false" Priority="39" Name="toc 1"/> <w:LsdException Locked="false" Priority="39" Name="toc 2"/> <w:LsdException Locked="false" Priority="39" Name="toc 3"/> <w:LsdException Locked="false" Priority="39" Name="toc 4"/> <w:LsdException Locked="false" Priority="39" Name="toc 5"/> <w:LsdException Locked="false" Priority="39" Name="toc 6"/> <w:LsdException Locked="false" Priority="39" Name="toc 7"/> <w:LsdException Locked="false" Priority="39" Name="toc 8"/> <w:LsdException Locked="false" Priority="39" Name="toc 9"/> <w:LsdException Locked="false" Priority="35" QFormat="true" Name="caption"/> <w:LsdException Locked="false" Priority="10" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Title"/> <w:LsdException Locked="false" Priority="1" Name="Default Paragraph Font"/> <w:LsdException Locked="false" Priority="11" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Subtitle"/> <w:LsdException Locked="false" Priority="22" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Strong"/> <w:LsdException Locked="false" Priority="20" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Emphasis"/> <w:LsdException Locked="false" Priority="59" SemiHidden="false" UnhideWhenUsed="false" Name="Table Grid"/> <w:LsdException Locked="false" UnhideWhenUsed="false" Name="Placeholder Text"/> <w:LsdException Locked="false" Priority="1" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="No Spacing"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 1"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 1"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 1"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 1"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 1"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 1"/> <w:LsdException Locked="false" UnhideWhenUsed="false" Name="Revision"/> <w:LsdException Locked="false" Priority="34" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="List Paragraph"/> <w:LsdException Locked="false" Priority="29" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Quote"/> <w:LsdException Locked="false" Priority="30" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Intense Quote"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 1"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 1"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 1"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 1"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 1"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 1"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 1"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 1"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 2"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 2"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 2"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 2"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 2"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 2"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 2"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 2"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 2"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 2"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 2"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 2"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 2"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 2"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 3"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 3"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 3"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 3"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 3"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 3"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 3"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 3"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 3"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 3"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 3"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 3"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 3"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 3"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 4"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 4"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 4"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 4"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 4"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 4"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 4"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 4"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 4"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 4"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 4"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 4"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 4"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 4"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 5"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 5"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 5"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 5"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 5"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 5"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 5"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 5"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 5"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 5"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 5"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 5"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 5"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 5"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 6"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 6"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 6"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 6"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 6"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 6"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 6"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 6"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 6"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 6"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 6"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 6"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 6"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 6"/> <w:LsdException Locked="false" Priority="19" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Subtle Emphasis"/> <w:LsdException Locked="false" Priority="21" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Intense Emphasis"/> <w:LsdException Locked="false" Priority="31" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Subtle Reference"/> <w:LsdException Locked="false" Priority="32" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Intense Reference"/> <w:LsdException Locked="false" Priority="33" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Book Title"/> <w:LsdException Locked="false" Priority="37" Name="Bibliography"/> <w:LsdException Locked="false" Priority="39" QFormat="true" Name="TOC Heading"/> </w:LatentStyles> </xml><![endif]--><!--[if gte mso 10]> <style> /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} </style> <![endif]--></p> <p style="text-align: center;"> <span style="font-size: 24px;"><span style="font-family: "Franklin Gothic Heavy","sans-serif"; color: rgb(237, 28, 36);">NIC Bank’s</span><span style="font-family: "Franklin Gothic Heavy","sans-serif"; color: rgb(46, 48, 146);"> Productive </span><span style="line-height: 115%; font-family: "Franklin Gothic Heavy","sans-serif"; color: rgb(46, 48, 146);">Orientation</span></span></p> <p style="text-align: justify;"> <span style="font-size: 55.5pt; letter-spacing: -0.2pt;"><span style="font-size: 20px;"><span style="font-size: 18px;">W</span></span></span><span style="letter-spacing: -0.2pt;">ith the conclusion of its 13th Annual General Meeting, Nepal Industrial and Commercial Bank Limited (NIC) has decided to distribute a cash dividend of 26.32 per cent. This is one of the highest dividend payout by any bank in 2010. The Bank posted a Net Profit of Rs 449.8 million in FY 2009/10 which is 42 per cent more than last year. The Bank’s Non-Performing Loans are very low at 0.7 per cent. Similarly, in the first four months of this year, the Bank has posted an operating profit of Rs 289 million. The investment of the Bank has also increased from Rs 3.026 billion to Rs 4.947 billion in FY 2009/10 which signifies 63 per cent growth. “Our investment portfolio clearly indicates that our exposure in productive sector is more than 90 per cent. We continue to capitalize on our strengths by increasing our investment in this sector. However, Small and Medium Enterprise sector will be focused more,†says Sunil Pokharel, Head, Retail Banking, NIC Bank. <br /> </span></p> <p class="BODYTEXT"> <span style="letter-spacing: -0.2pt;">The total workforce of the Bank is 320 with 33 per cent female. <br /> </span></p> <p class="BODYTEXT" style="text-align: justify;"> <span style="letter-spacing: -0.2pt;">NIC Bank had commenced its operation on 21st July, 1998 with its head office in Biratnagar. Promoted by several prominent business houses of Nepal, it started with a capital of Rs 500 million which was the highest paid up capital of any bank at that time. The paid-up capital increased to Rs 1.31 billion in FY 2009/10. The Bank has been in profit since its inception and has recorded a robust growth in its overall business and profitability during the recent years. <br /> </span></p> <p class="BODYTEXT" style="text-align: justify;"> <span style="letter-spacing: -0.2pt;">The Bank has been consistently embarking on sustainable network expansion and has successfully added several new branches every year in strategic new locations. At present, the Bank has a total of 28 branches and 26 ATMs across the country serving more than 112,000 customers. The Bank will shortly be opening four more branches and adding 10 ATMs. All its branches are inter-connected through V-SAT and optical-fibre network which is capable of providing on-line real time transactions. <br /> </span></p> <p class="BODYTEXT" style="text-align: justify;"> <span style="letter-spacing: -0.2pt;">Being the first ISO 9001:2008 certified commercial bank of the country, NIC has raised the bars on competition and become more committed towards delivering quality and superior products and services to the customers as well as maintaining corporate governance within its staffs. <br /> </span></p> <p class="BODYTEXT" style="text-align: justify;"> <span style="letter-spacing: -0.2pt;">NIC Bank has played a pioneering role in the Nepali banking sector introducing innovative and customized products and services to its customers. Deposit Products, Business Banking, SME Banking, Consumer Banking, Transaction Banking and Bullion Business are some of the products and services offered by NIC. “We are the first bank to introduce Savings Account Scheme bundled with life insurance. Also, we are the first to introduce fixed deposit account with the ease of a savings account. Recently, we have launched “Complete Savings Accounts†– a truly hassle free account for an individual and “NIC- Remit Savings Accounts†with unique features for those receiving fund from overseas,†says Pokharel.<span style=""> </span> <br /> </span></p> <p class="BODYTEXT" style="text-align: justify;"> <span style="letter-spacing: -0.2pt;">NIC was awarded “Bank of the Year 2007†honour by The Banker Magazine, Financial Times, London. Besides this, it is the first bank in Nepal to be provided a line of credit by International Finance Corporation (IFC), an arm of World Bank Group under its Global Trade Finance Program, enabling the Bank’s Letter of Credit and Guarantee to be accepted by more than 200 banks worldwide. Also, it is the first bank to offer bullion trading and to offer lowest-price home loan schemes. <br /> </span></p> <p class="BODYTEXT" style="text-align: justify;"> <span style="letter-spacing: -0.2pt;">Over the course of five successive fiscal years, the bank’s performance has been tremendous. The Compounded Annual Growth Rate (CAGR) of the bank<span style=""> </span>is one of the highest in the industry for the last five years (see table). “The competition has always been tough. The increasing numbers of banks have now forced to come out from its comfort zone to provide quality services and look for new avenues in order to increase revenue by introducing new and innovative products to its customers. Therefore, we cannot be an exception,†says Pokharel. He adds, “We consider ourselves at the adolescence stage of corporate life cycle and there is a long way to have a turning point. We strongly believe in a positive corporate cultureâ€.<span style=""> </span> <br /> </span></p> <p class="BODYTEXT" style="text-align: justify;"> <span style="letter-spacing: -0.2pt;">The bank has special and distinct Corporate Social Responsibility (CSR) practice. It has sponsored many events and programs which mainly focus on enabling talent through education, creating opportunities through social investments and corporate volunteering. All the contributions and sponsorships come under the Bank’s CSR. As a responsible corporate house, NIC Bank contributes to the society in various ways through NIC Foundation (NICF), an independent non-profit organization promoted by the Bank. The foundation’s main objective is to bring positive societal changes through charitable works. It aims at helping marginalized and underprivileged communities through education, health and skill development. NIC has been providing scholarship to under privileged but meritorious girl children in Kathmandu. It has also been providing scholarship to the visually challenged students who hail from Jumla to pursue their higher education in Kathmandu. It has donated computers to a school of a remote area and provided financial assistance to an orphanage in Birgunj. It has donated two ambulances in Mid-Western Regional Hospital in Surkhet. It has also helped in construction of Mata Tripurasundari Temple at Dhobighat, Lalitpur and has supported to construct a trail from Kusma to Modi Beni in Parbat district. The Bank has also been organizing a Blood Donation Campaign every year. Furthermore, the Bank has also donated for the flood victims in Koshi and diarrhoea victims in Jajarkot. The Bank has recently taken initiatives for the development of sports in Nepal and has sponsored National Open Gymnastics Championship. NICF’s programs are sustained by the Bank’s contribution of 0.5 per cent from its annual profits. NIC is the only bank to have fixed the proportion of its profit to be set aside for such cause. <br /> </span></p> <p class="MsoNormal"> <span style="letter-spacing: -0.2pt;">Being a well established brand with 12 years history, NIC aims to continue striving for better performance and exceed the expectation of all stakeholders. Precisely, the Bank’s future plans are based on providing “Complete Financial Solutions†to the customers and good return on investment to its shareholders. “Apart from increasing footprints and investment in technology and system-upgradation (core banking system), we are also coming with new tailor made products to serve our anticipated customer needs. Also, we are bringing innovative products and services suitable for corporate customers as well as retail customers,†says Pokharel. </span></p> <p class="MsoNormal" style="text-align: center;"> <span style="font-size: 24px;"><span color:="" franklin="" gothic="" heavy="" sans-serif="">Imperial Finance</span><span color:="" franklin="" gothic="" heavy="" sans-serif="">: </span><span style="line-height: 115%; font-family: FranklinGothic; color: rgb(0, 94, 157);">Slow but Steady Steps</span></span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;">Imperial Finance Limited opened a branch on January 14, 2011 at New Road of Kathmandu. Though the company now has only two branches, the presence in the main business centre of the capital gives a very positive message as it is sure to contribute to the business expansion of the company. Established in March 2006 with Rs 50 million as the paid up capital, the company is growing robust with the capital now increased to Rs 150 million. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;">Binod Karki, Chief Executive Officer (CEO) of the company says that the visionary dedication of the founder members has brought the company to this point. The company now has its own building to house its head office for about three years now. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;">Today the company has expanded to two branches and multiplied its capital thrice from Rs 50 million to Rs 150 million, notes Karki who joined the company as the third CEO recently. Now the company is planning to increase its capital to Rs 200 million by 2013 (2070 BS) as required by the central bank. The promoters own 61 percent in the company withy the rest 39 per cent held by the general people. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;">To increase the capital, the company is distributing bonus shares. Last year the company provided 20 per cent bonus share and this year it is giving 15 per cent bonus share. Karki says that the company might also need to issue rights share in the coming days to meet the target of the capital increment. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;">The company has made an operating profit of Rs 47.12 million in the first quarter of the current fiscal year while it was Rs 52.04 million in the same period last year. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;">Last year the company had opened a branch in Narayanghat of Chitwan and the branch expansion continued this year with the New Road facility opened. But that is not sufficient for competition in the market that has so many players – commercial banks, development banks, finance companies and saving-credit cooperatives. However, Karki is confident of his company’s competitiveness.<span style=""> </span>Karki says, “We find ourselves ahead based on the asset and loan quality when compared to other companies.†<br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-', 'published' => true, 'created' => '2011-02-11', 'modified' => '2011-02-11', 'keywords' => '', 'description' => 'Bank of Kathmandu (BOK) has two distinct identities. One, it is among the few commercial banks managed entirely by Nepali professionals. Second, it is the only', 'sortorder' => '147', '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' => '55', 'article_category_id' => '39', 'title' => 'The Table Of Fishtail Lodge', 'sub_title' => '', 'summary' => null, 'content' => '<p> While in Pokhara, everybody enjoys the magnificent sight of Mt. Fishtail and the Fewa Lake.</p>', 'published' => true, 'created' => '2010-11-04', 'modified' => '2010-11-10', 'keywords' => '', 'description' => 'While in Pokhara, everybody enjoys the magnificent sight of Mt. Fishtail and the Fewa Lake.', 'sortorder' => '14', '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' => '54', 'article_category_id' => '39', 'title' => 'Naturally Embedded Hospitality', 'sub_title' => '', 'summary' => null, 'content' => '<p> Tibetan-style Grand Norling Hotel's Resort(GNHR) is situtated adjacent to beautiful Gokarna forest, yet just a turn from the main highway.</p>', 'published' => true, 'created' => '2010-11-04', 'modified' => '2010-11-11', 'keywords' => '', 'description' => 'Tibetan-style Grand Norling Hotel's Resort(GNHR) is situtated adjacent to beautiful Gokarna forest, yet just a turn from the main highway.', 'sortorder' => '13', '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' => '53', 'article_category_id' => '39', 'title' => 'National Insurance', 'sub_title' => '', 'summary' => null, 'content' => '<p> Against the backdrop of an unending political volatility in Nepal, coupled with economcs downturn and unhealthy competition in the general insurance segment.</p>', 'published' => true, 'created' => '2010-11-04', 'modified' => '2010-11-10', 'keywords' => '', 'description' => 'Against the backdrop of an unending political volatility in Nepal, coupled with economcs downturn and unhealthy competition in the general insurance segment.', 'sortorder' => '12', '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' => '52', 'article_category_id' => '39', 'title' => 'Pioneering Alternative Banking', 'sub_title' => '', 'summary' => null, 'content' => '<p> While branching out is the most strategic decision for most of the Nepali banks holds a different card. "We plan to bring seven million people under the fold of our mobile banking,'" says Ajaya B.saha head of Retail Finance Service, Laxmi Bank, pointing out to the viability of the techono-savvy alternative to banking today. </p>', 'published' => true, 'created' => '2010-11-04', 'modified' => '2010-11-10', 'keywords' => '', 'description' => 'While branching out is the most strategic decision for most of the Nepali banks holds a different card.', 'sortorder' => '11', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '394', 'article_category_id' => '39', 'title' => 'Etihad Airways-International(july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-indent: 0in; text-align: justify;"> <span style="font-size: 12pt; letter-spacing: 0.1pt;">E</span><span style="letter-spacing: 0.1pt;">tihad seeks to reflect the best of Arabian hospitality as well as enhance the prestige of Abu Dhabi as a centre of hospitality between East and West. Its goal is to be a truly 21st century global airline challenging and changing the established conventions of airline hospitality. Apart from providing a relaxing experience, it strives to make travel safe and environment-friendly by practicing the highest global standards in both these areas. The airline is constantly innovating, taking the smallest detail into account in its pursuit of excellence and perfection. The overall ambition of Etihad Airways is to be the best airline in the world. </span></div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> Etihad is governed by a Board of Directors under the chairmanship of HH Sheikh Hamed bin Zayed Al Nahyan while the airline’s management team is led by James Hogan who was appointed as Chief Executive Officer in October 2006 to lead the airline’s continued successful growth and development. The ongoing redevelopment work at Abu Dhabi International Airport has significantly enhanced the experience for guests. The second runway, officially opened in October 2008, is part of a large scale UAE Dirham (AED) 25 billion redevelopment programme and expansion project at the airport. Terminal 3 at Abu Dhabi Airport, an exclusive facility for Etihad, was opened in February 2009 increasing the airport’s passenger handling capacity from five to 12 million passengers a year. The first phase of a Midfield Terminal Complex is due for completion in the next few years and will take the airport’s handling capacity to 20 million passengers. The airport will be capable of handling 40 million passengers by 2030 when the project is completed.<br />  </div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0.1pt;">Fleet and network</span></strong></div> <div style="text-align: justify;"> <span style="letter-spacing: 0.1pt;">Etihad’s fleet, among the youngest in the world, has 57 aircraft operating 1,032 flights per week serving an international network of 68 destinations in 45 countries in the Middle East, North America (New York, Chicago and Toronto), Africa, Europe, Australia and Asia (including Kathmandu in Nepal). In addition, Etihad has 30 code-share agreements in place, building the airline’s international network. As part of its long term vision, Etihad plans to operate in up to 100 major business and leisure destinations around the world by 2020. </span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: 0.1pt;">The airline announced the largest aircraft order in commercial aviation history at Farnborough International Air show in 2008, for up to 205 aircraft – 100 firm orders, 55 options (guaranteeing the price of the aircraft and the delivery date) and 50 purchase rights (guaranteeing the price of the aircraft but not the delivery date).<br /> <br /> </span></div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0.1pt;">People and Company Growth </span></strong></div> <div style="text-align: justify;"> <span style="letter-spacing: 0.1pt;">Currently, close to 8,000 people work at Etihad Airways with the majority based in Abu Dhabi and the UAE. In order to meet Etihad’s predicted fleet, passenger and destination growth by 2020 – which plans for more than 25 million passengers to fly to more than 100 destinations aboard a fleet of 150 planes – the airline will need a workforce of approximately 27,000 people. In 2010, Etihad saw passenger numbers top 7 million (7.1 million passengers carried) for the first time and revenue passenger kilometres (RPKs) rise 20.1 per cent. Etihad’s revenue exceeded US $2.9 billion in 2010. </span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: 0.1pt;">On the ground, Etihad has introduced a range of services designed to make the travel experience as comfortable, smooth and fast as possible. It offers a range of convenient ground services, including Etihad Chauffeur, its premium limousine service available at 27 destinations globally, and premium lounges (370,000 lounge guests hosted) in Abu Dhabi, London, Frankfurt, Dublin and Manchester.<br /> <br /> </span></div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0.1pt;">Etihad Guest</span></strong></div> <div style="text-align: justify;"> <span style="letter-spacing: -0.35pt;">Etihad Guest is an award-winning loyalty programme boasting over one million members to date. Launched in August 2006, the programme offers its members opportunities to accumulate Etihad Guest Miles which can be redeemed against a wide selection of over 1,800 flight and non-flight rewards from over 200 partners. Non-flight rewards cover a wide variety of categories from computer and electronic equipment to jewellery and lifestyle products. Each year, over 40 promotions are organised by the CRM and Loyalty department and communicated to all Etihad Guest members.<br /> <br /> </span></div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0.1pt;">Sponsorships</span></strong></div> <div style="text-align: justify;"> <span style="letter-spacing: 0.1pt;">Etihad supports a range of sporting and cultural events in the UAE and the world over. These sponsorships are consistent with Etihad’s values of hospitality and team spirit and helps bring Abu Dhabi to the world and vice-versa. Its major sponsorships include Etihad Stadium, Ferrari Formula 1 (F1) Team, Sport Australia Hall of Fame, GAA Hurling All-Ireland Senior Championship, Harlequins Rugby Football Club, F1 Etihad Airways Abu Dhabi Grand Prix and Manchester City Football Club.<br /> <br /> </span></div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0.1pt;">Marketing </span></strong></div> <div style="text-align: justify;"> <span style="letter-spacing: 0.2pt;">The airline’s marketing department plays a major role in taking the Etihad Airways story to the world. Etihad was awarded ‘World’s Leading Airline’ at the World Travel Awards in 2010 for the second consecutive year. It set the benchmark for the airline’s brand communications enabling Etihad to inspire its audiences through a range of campaigns to ‘fly with the best’. The same year, it launched an international television advertising campaign titled ‘He Likes, She Likes’ showcasing the airline’s continued investment in products and services and commitment to offering a tailored, personal experience for every traveller.</span><span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.05pt;">n</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <strong>An Award Winning Airline</strong></div> <div style="text-align: justify;"> Etihad has received a range of awards that reflects its position as the leading premium airline brand in the world. In its first seven years of operation, its range of local and international awards includes:</div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2011 </span></b></div> <div style="text-align: justify;"> <span style=""> Best Long Haul Airline – Irish Travel Awards </span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2010 </span></b></div> <div style="text-align: justify;"> <span style=""> Airline of the Year – Aviation Business Awards </span></div> <div style="text-align: justify;"> <span style=""> World’s Leading Airline – World Travel Awards (second consecutive year)</span></div> <div style="text-align: justify;"> <span style=""> World’s Best First Class – Skytrax (judged by over 18 million air travellers worldwide in the annual Skytrax survey)</span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2009 </span></b></div> <div style="text-align: justify;"> <span style=""> World’s Leading Airline - World Travel Awards (WTA) </span></div> <div style="text-align: justify;"> <span style=""> Best Airline to the Middle East / Africa - Irish Travel Trade News awards, Dublin </span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2008 </span></b></div> <div style="text-align: justify;"> <span style=""> European Sponsorship of the Year Award - European Sponsorship Association </span></div> <div style="text-align: justify;"> <span style=""> James Hogan, Aviation CEO of the year - CEO Middle East awards (ITP) </span></div> <div style="text-align: justify;"> <span style=""> Best website www.etihadairways.com - Pan Arab Web Awards </span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2007 </span></b></div> <div style="text-align: justify;"> <span style=""> Best Economy class catering award - Skytrax </span></div> <div style="text-align: justify;"> <span style=""> The Middle East’s Leading Airline - World Travel Awards </span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2006 </span></b></div> <div style="text-align: justify;"> <span style=""> Middle East Airline of the Year - Pax International magazine </span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2005 </span></b></div> <div style="text-align: justify;"> <span style="font-size: 5.5pt;"> </span><span style="">Outstanding Food Service by a Carrier – Pax International magazine </span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2004 </span></b></div> <div style="text-align: justify;"> <span style=""> The World’s Leading New Airline – World Travel Awards</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="font-size: 13.5pt; letter-spacing: 0.15pt;">‘Essential Abu Dhabi’</span></div> <p style="text-align: justify;"> <span style="font-size: 11pt; line-height: 115%;">Etihad Airways has designated 2011 as ‘the year of Abu Dhabi’ with the launch of its ‘Essential Abu Dhabi’ destination marketing campaign. The campaign will see Etihad unveil a number of exciting promotional activities across the globe designed to enhance Abu Dhabi’s place as a top tourist and MICE (Meetings, Incentives, Conferences and Exhibitions) destination. All the major tourism operators in the emirate of Abu Dhabi have come together under one showcase umbrella for the first time to promote the very best UAE capital has to offer. The campaign is being supported by the Abu Dhabi Tourism Authority as a major partner. The programme is also targeting millions of passengers transiting through the Abu Dhabi hub, to entice them for a stopover in the city.</span></p>', 'published' => true, 'created' => '2011-09-01', 'modified' => '2011-09-01', 'keywords' => '', 'description' => 'Etihad seeks to reflect the best of Arabian hospitality as well as enhance the prestige of Abu Dhabi as a centre of hospitality between East and West. Its goal is to be a truly 21st.....', 'sortorder' => '310', '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' => '393', 'article_category_id' => '39', 'title' => 'ICFC: Going Steady(july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">ICFC Finance Limited has been largely successful in maintaining its liquidity while a number of financial institutions continue to face liquidity crunch. Sunil Pant, General Manager of ICFC, claimed the company maintains liquidity of 28 to 30 per cent at any given point of time. “Maintaining liquidity is our key concern at present. We think of profitability only after we have maintained enough liquidity,†he explains. The company has made a net profit of Rs 27.19 million by the end of third quarter of the current fiscal year.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">After being registered in 2003, ICFC commenced its operations from July 17, 2004. “We started with a paid-up capital of around Rs 25.5 million before going public,†Pant shared. In its seven years of operation, the company has Rs 330 million as paid-up capital out of core capital of Rs 400 million.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Pant asserts that success did not happen overnight. He says, “We are always focused on our future plans and tread a cautious path while lending.†He added that the finance company is headed by professionals with long exposure and experience in commercial banking. Ram Babu Pant heads the company as the CEO and has served as Deputy Governor of Nepal Rastra Bank (NRB) in the past. The board of directors too comprise of influential members under the chairmanship of Suresh Kumar Agrawal.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;"> “The economic sector was booming and there were a lot of business opportunities when we began our service,†says Pant. He claims ICFC’s Credit to Deposit ratio is around 70 to 75 per cent. He adds, “We never focused on investment in a single sector since the beginning.â€<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">At present, ICFC has deposits of around Rs 3 billion and loans and advances amounting to Rs 2.45 billion. Therefore, the difference between loans and deposit is around Rs 550 million while cash in reserve is about Rs 1.05 billion. It lends mostly in trading, industry and education sectors and less in hire purchase and margin lending. Pant said the company has refrained from investing in land plotting and real estate though it does grant personal and home loans.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The company has eight branches including the main branch at Bhatbhateni. Pant tells that ICFC opens a new branch only after the previous branch reaches break-even . It has been launching a new branch every year in a phase-wise manner. He opines, “We are a finance company so opening multiple branches at once will be challenging to manage. We do want to upgrade our status. However, we have opted to wait and watch given the current state of the economy.†He thinks the current liquidity crisis is snowballing into a sort of credit crunch. “We must maintain a strong position with respect to liquidity as we are responsible for safeguarding our depositors’ interests,†he asserted.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">ICFC has been giving either dividend or bonus shares to its stakeholders every year on an alternate basis. “A cash dividend of 15 per cent was given last year while bonus shares were issued the year before,†Pant states.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The finance company offers its own ATM services at every branch. It is also linked to the SCT network which has around 1,500 ATM counters throughout the country. Pant says that customer satisfaction is the topmost priority at ICFC. “We provide all banking products and facilities offered by a conventional bank,†he claims. The company provides all banking services including mobile banking, SMS banking and Internet banking apart from locker facilities at some of its branches.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Pant distinguishes ICFC from similar institutions through its quality of services provided. “Everyone is doing almost similar things in the market but we are more focused on service delivery along with our bouquet of total banking services,†Pant explains.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The company believes that banking industry largely depends on trust which should not be shaken at any cost. Therefore, the company has made corporate governance its top priority. Pant attributes the failure of some banks and finance companies to weak corporate governance rather than liquidity problem. Pant reassures ICFC was safe in the past and will remain safe in the future too. Its reputation has helped build a customer base of around 50,000 people.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">ICFC is increasing its access to micro financing through First Micro Finance Development Bank, of which it is a promoter. Little service differentiation between commercial banks and finance companies has led to competition between them. Pant feels that while competition is good and adds excitement to work, ICFC does not indulge in aggressive competition. He thinks customers are spoilt with choices today and are free to subscribe to better services and facilities offered by just any company.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">A total of 85 employees work at ICFC Finance Limited. Pant says, “We give equal priority to all ICFC family members and ensure a sense of belonging and job satisfaction. We give our people a lot of independence and authority to meet these objectives.†He adds that the company’s uncompromising attitude in providing facilities at par with the competitors has helped ensure employee retention to a large extent.<br /> <br /> </span></div> <div> <span style="font-size: 9.5pt; line-height: 115%;">ICFC plans to achieve and sustain unprecedented growth in the future. However, it is eagerly waiting for policies that will come in with the new fiscal year. “We can then decide our future course of action,†Pant concludes.</span></div> <div>  </div> <div style="margin: 11pt 0in 0.0001pt; vertical-align: middle;"> <span style="font-size: 11.5pt;">SWOT Analysis</span></div> <div style="margin: 5.65pt 0in 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Strengths:</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Team of experienced professionals</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Strong capital base</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Liquidity maintenance</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Total banking services</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Focus on service delivery</span></div> <div style="margin: 5.65pt 0in 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Weaknesses:</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Less number of branches</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Small capital size</span></div> <div style="margin: 5.65pt 0in 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Opportunities:</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Huge market potential</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Services and branches expansion</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Investment possibilities</span></div> <div style="margin: 5.65pt 0in 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Threats:</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Liquidity crunch in the market</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Political and policy instability</span></div> <div> <span style="font-size: 9.5pt; line-height: 115%; color: black;">Lack of investment environment</span></div> <div>  </div> <div align="center"> Unaudited Financial Results as of mid April 2011</div> <table border="0" cellpadding="0" cellspacing="0" style="margin-left: 4.1pt; border-collapse: collapse;"> <tbody> <tr style="height: 3pt;"> <td style="width: 91.95pt; border: 1pt solid white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 9.5pt;">Particulars</span></b></span></div> </td> <td style="width: 99.55pt; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: white white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 9.5pt;">Third quarter ending (by mid April)</span></b></span></div> </td> <td style="width: 119.2pt; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: white white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 9.5pt;">Corresponding previous year third quarter ending </span></b></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Paid up capital</span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">329,384</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">329,384</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Borrowings</span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">710,000</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">335,000</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Deposits</span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">3,059,446</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">2,3 71,753</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Investments</span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">189,835</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">139,468</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Loans and Advances</span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">2,451,804</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">2,168,906</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Net Profit</span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">27,196</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">41,964</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Non Performing Loan in percentage </span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">0.92%</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">0.49%</span></span></div> </td> </tr> </tbody> </table> <div align="right" style="text-align: right; text-indent: 0in;"> <i><span style="font-size: 7.5pt;">Source</span></i><span style="font-size: 7.5pt;">: ICFC Finance Limited</span></div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'ICFC Finance Limited has been largely successful in maintaining its liquidity while a number of financial institutions continue to face liquidity crunch. Sunil Pant, General Manager of.....', 'sortorder' => '309', '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' => '392', 'article_category_id' => '39', 'title' => 'Story Of NIDC's Turnaround (july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="margin-bottom: 0.0001pt; line-height: 120%; vertical-align: middle; text-align: justify;"> <span style="font-size: 14px;"><b><span style="line-height: 120%;">Shanta Bahadur Shrestha</span></b></span></div> <div style="margin-bottom: 0.0001pt; line-height: 120%; vertical-align: middle; text-align: justify;"> <span style="font-size: 14px;"><span style="line-height: 120%;">Chairman</span></span></div> <div style="text-align: justify;"> <span style="font-size: 14px;"><span style="line-height: 115%;">NIDC Board of Directors</span></span></div> <div style="text-align: justify;"> We are not in aggressive lending and what we have invested in the real estate sector is far below what is allowed by NRB.</div> <p>  </p> <div> <table cellpadding="0" cellspacing="0" hspace="0" style="width: 1px; height: 15px;" vspace="0"> <tbody> <tr> <td style="padding: 0in; text-align: justify;" valign="top">  </td> </tr> </tbody> </table> </div> <p style="text-align: justify;"> <span style="font-size: 9.5pt;">Nepal Industrial Development Corporation Ltd (NIDC), once a comatose public enterprise, has now turned around to become a vibrant company. It had an accumulated loss of Rs 1.41 billion in 2005-06, but it is now expecting a net profit of Rs 300 million in 2010-11. </span></p> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">“We are going to make profit this fiscal year and hopefully declare dividend also,†said Shanta Bahadur Shrestha, Chairman of NIDC Board of Directors and joint secretary at the Ministry of Finance, at the 53rd anniversary function of the corporation on June 15, 2011. Highlighting the recent achievements, company’s General Manager and Director Shivjee Roy Yadav noted that the company’s net worth per share that was a negative Rs 193.47 at the end of 2005-06 has now turned positive to Rs 192.87, by mid-April 2011.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">Behind the newly-found optimism is a long story of struggle and perseverance. Set up in 1959, this first development finance companybloomed till the early 1990s before sliding into a financial mess. Eventually, the government on February 24, 2004, decided to stop this public enterprise from extending any new loan and to focus on just recovering its investments. The plan was to ultimately liquidate the company.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">Though the government decision was made on the basis of a recommendation from PriceWaterhouseCoopers, the company’s management was finally able to convince the government that it can be revived and the government stands to lose if the company is liquidated. Then, a new decision was made by the government on March 2, 2009, that allowed the company to work as a deposit taking institution. Thus, the company started functioning as a bank and this change made the company rise from its deathbed and re-establish itself as a vibrant financial institution. NIDC commenced its banking service from February 8, 2010, and now it is a major provider of funds in the inter-bank market, Yadav claims. Meanwhile, the company focused on recovery and sold some of its investments in stocks. As a result, it fully repaid all the loans it had to pay to the Nepal Rastra Bank and the government. “This is indeed an achievement,†says Yadav, Had the government gone ahead with the liquidation as per the PriceWaterhoseCoopers recommendation, the Nepal Rastra Bank and the government would not have got their money back. Rather, they were required to inject additional capital to clear various other liabilities of the corporation.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">Today, NIDC has an authorised capital of Rs 1.20 billion of which Rs 600 million is issued and Rs 415 million is paid-up. Its non-performing loan has reduced to 75.6 percent by mid-April 2011 from 99.79 percent a year ago. This has further reduced to 70 percent by mid-June and the target is to reduce it further to 35 percent next year, says Yadav. This year’s revised estimate of the profit is lower than the initial estimate. The initial target was Rs 570 million but that could not be achieved as the plan to realise the loan of Himal Cement by selling the mortgaged assets could not go ahead. Similarly, the plan to sell the corporation’s shares in Nabil Bank and NIDC Capital Market could not implemented, explains Yadav. He expects to make these sales once the country’s property and share markets revive.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">Established on June 15, 1959, the company’s mission is to contribute to industrialisation of the country through industrial project financing. Initially, established as a corporation under a special law the Nepal Industrial Development Corporation Act 1959, it was later registered under the Company Act and in 2006 it was made a national level development bank under the Banks and Financial Institution Act 2006.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">From its beginning to mid-April 2004, NIDC invested more than Rs 6 billion in 1,520 industrial projects in different parts of the country. The company estimates that in those projects about 80,000 people received direct employment while 350,000 others got indirect employment.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">NIDC today offers its banking services from its head office in Kathmandu and two regional offices in Biratnagar and Pokhara. The plan is to start banking services also from the Nepalgunj and Dhangadhi offices with approval from the central bank. Meanwhile, the company has started ATM services by setting up an ATM station at the central office and the plan is to set up ATMs in other branches as well in other places of Kathmandu. 9 AGMs in One Go<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">One major recent development of the company is the AGM held on May 7, 2011. It is a major development because there has been no AGM for last nine years from 2001-02 through 2009-10. From the next year, the AGM will be regular, hopes Yadav. One major decision taken at the AGM is to change the company’s name into NIDC Bank Ltd, subject to approval from the relevant authority. <br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">Currently 99.26 per cent of the corporation’s ownership remains with the government while 0.74 per cent stakes are with the public. Therefore, the company’s shares are not traded in the stock exchange though it is listed there. Presenting the annual report to the shareholders in the May 7 AGM, the company’s chairman Shrestha informed about the plan to issue shares through further public offerings so as to increase its paid-up capital.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">Shrestha says, “We are not in aggressive lending and what we have invested in the real estate sector is far below what is allowed by NRB.†</span></div> <div style="text-align: justify;"> <span style="font-size: 9.5pt; line-height: 115%;">According to Shrestha, the company is also planning to offer services like 365 days banking, evening counter, Internet Banking, SMS Banking, Remittance Service, Mobile Banking among other new products. </span><span style="font-size: 6.5pt; line-height: 115%; color: rgb(237, 28, 36); letter-spacing: -0.05pt;">n</span></div> <div style="text-align: justify;">  </div> <div style="margin-top: 8.75pt; text-align: justify;"> <span style="font-size: 9pt;">Financial Statistics of NIDC as of third quarter of 2010/11</span></div> <div style="text-indent: 0in; text-align: justify;"> <i><span style="font-size: 6.5pt;">Rs in million</span></i></div> <table border="0" cellpadding="0" cellspacing="0" style="margin-left: 3.25pt; border-collapse: collapse;"> <tbody> <tr style="height: 3pt;"> <td rowspan="2" style="width: 86.15pt; border: 1pt solid white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">Particulars</span></b></span></div> </td> <td colspan="6" style="width: 224.45pt; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: white white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="299"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">Fiscal years</span></b></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">2005/06</span></b></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">2006/07</span></b></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">2007/08</span></b></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">2008/09</span></b></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">2009/10</span></b></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">2010/11 by mid April</span></b></span></div> </td> </tr> <tr style="height: 12pt;"> <td style="width: 86.15pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">Paid-up Capital</span></span></div> </td> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">415.8</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">415.8</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">415.8</span></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">415.8</span></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">415.8</span></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">415.8</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 86.15pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">Net Profit</span></span></div> </td> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(602.8)</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">87.5</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">797</span></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">172.2</span></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">354.5</span></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">87.4</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 86.15pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">Accumulated Profit (Loss)</span></span></div> </td> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(1416.2)</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(1347.3)</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(595.5)</span></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(459.3)</span></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(179.4)</span></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(109.5)</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 86.15pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">Reserves</span></span></div> </td> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">195.9</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">213.4</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">372.8</span></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">407.3</span></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">478.2</span></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">495.6</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 86.15pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">Networth/Share Rs</span></span></div> </td> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(293.46)</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(172.67)</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">46.44</span></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">87.48</span></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">171.86</span></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">192.87</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 86.15pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">Loan Investment</span></span></div> </td> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">1712.4</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">1466.8</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">1329.7</span></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">1258.5</span></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">1118.6</span></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">1273.6</span></span></div> </td> </tr> </tbody> </table> <div style="text-indent: 0in; text-align: justify;"> <i><span style="font-size: 6pt;">Source</span></i><span style="font-size: 6pt;">: NIDC Press Release on the 53rd anniversary day. </span></div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '2011-09-01', 'keywords' => '', 'description' => 'Nepal Industrial Development Corporation Ltd (NIDC), once a comatose public enterprise, has now turned around to become a vibrant company. It had an accumulated loss of Rs..........', 'sortorder' => '308', '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' => '311', 'article_category_id' => '39', 'title' => 'Wealth Exchange: The Business Of Patience', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-align: justify; text-indent: 0in;"> <b><span style="font-size: 8pt; line-height: 120%;"><img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/sanandan singh.jpg" style="width: 138px; height: 176px;" vspace="1" /><span style="color: rgb(178, 34, 34);">Sanandan Singh</span></span></b></div> <div style="text-align: justify; text-indent: 0in;"> <span style="color: rgb(178, 34, 34);"><span style="font-size: 7pt; line-height: 120%;">CEO</span></span></div> <div style="text-align: justify;"> <span style="color: rgb(178, 34, 34);"><span style="font-size: 7pt;">WEX</span></span></div> <div style="text-align: justify;"> <span style="color: rgb(178, 34, 34);">“We will make profits in a few years as we have not looked in the short term strategy. Our team has understood this and is committed to the vision of the company.â€</span></div> <div style="text-align: justify;"> <span style="color: rgb(178, 34, 34);"><br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;"> <span style="font-size: 12.5pt;">T</span><span style="font-size: 9.5pt;">he commodities exchange business is quite young in Nepal. However, the Wealth Exchange (WEX), the newest such exchange of the country is making big strides though it started business only about five months ago. Registered in March 2010, WEX began its operations from November 2010 as a spot exchange. It is the first spot exchange in Nepal where the number of futures exchanges is three. Sanandan Singh, the CEO of WEX said that the company entered the market at the right time. “This is our soft launching and the big one is yet to come’’, he added. The company is preparing to formally inaugurate its business amid a special function. Singh believes that something substantial like a good profit is required for an entry with a bang. “We are waiting for doing right thing at the right time,†he said.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">In the embryonic market that has just three commodities exchanges, WEX entered as the fourth company with a difference. Singh said that the Meta Trader 4 distinguishes the company from the rest. “Meta Trader 4 is a strong marketing tool for us,†Singh remarked. He explained the reasons for choosing the particular software as, “There is competition in the market and competitors have their own client and niche market. We wanted to introduce a product that is world renowned. And the software has helped to attract business for us.â€</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">WEX specialises in gold and silver. However, the company has the vision to expand its services further with various commodities. There are around 30 commodities traded across the globe. At WEX, gold and silver is virtually traded online with a margin, however, the company claims it can make physical delivery of gold and silver if the clients demand, subject to government regulation. “We have determined Rs 70,000 as the margin for a kilogram of gold which is a standard lot. For silver, the standard lot is 30 kg.†Recently, due to the demand of the investors, mini lot of 100 grams of gold has been introduced too.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">About choosing gold and silver for trading, Singh said, “In Nepal, awareness among the investors about commodities trading may further facilitate the investment climate and other products can be included in the long run. However, gold and silver are the most traded items in the world and known by all.â€</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Trading at WEX does not require bags of solid gold with you. Just a few clicks online and the job is done – thanks to the automated system. Clients make deposits online through the exchange’s banking partner Bank of Kathmandu and the amount is later transferred into the trading platform. Buying and selling to profits and losses are all counted and transferred online.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">There is a unique chain of communication between the company and the clients. The chain includes a clearing member which is in direct contact with WEX and that is followed by brokers and finally the clients. It is actually the brokers who make clients. The organisational communication adopted is vertical. Singh said, “We go down the line while they (clients and members) come up the line. Customers are not only of the brokers but also of the exchange.â€</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">WEX takes membership fees from clearing members and that is passed onto the brokers who may <img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/corporate focus1(1).jpg" style="width: 324px; height: 196px;" vspace="1" />pass this on to their customers. Singh said that the software is the most expensive part of operation of an exchange. He reveals that the company has already reached the breakeven point if the cost of software is excluded. </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Though the company is target oriented, Singh says there are no plans to make millions of rupees within a few months. Stating his company’s growth strategy he says, “We will make profits in a few years as we have not looked in the short term strategy. Our team has understood this and is committed to the vision of the company.†Singh’s principle is ‘Slow and steady wins the race.’ He said that the team is dedicated on strengthening the foundation. He claimed, “After laying the foundation stone, we have already risen above the ground. We are receiving feedback and we welcome criticism because it is a form of recognition too. The suggestion and feedback requested from us by the Securities Board of Nepal (SEBON) is an example of that.â€</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The company has marketed itself saying, ‘A majority of our clients will be in profit, provided they conduct a proper technical and fundamental analysis.’ Singh says the company won’t have any problem even if 100 per cent of its clients benefit. He defies the rule ‘someone has to lose when someone wins.’ Normally when a client makes profit, the exchange would be in loss. He clarifies, “We have managed the risk. Our philosophy is that clients may profit as much as they can. We are competent enough to pay them.†Singh said that the earning of the exchange is nominal. While 70 per cent of the commission of a standard lot is passed on to the brokers, 30 per cent is shared by the clearing member and the exchange. Currently, WEX’s objective is high turnover in low margin. The company has set the target of minimum trading of standard lots for a month.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">However, Singh presently sees limited encouragement among clients. “But we hope it will get better with time,†he said. According to Singh, though people have the money to invest they are reluctant to come into this sector due to their lack of knowledge about it. For that, the company has tied with Commodities Trading Institute for WEX certified courses for potential as well as existing clients and brokers. The company hopes to gain substantial momentum after some idea about this market is developed among the potential clients. When the number of brokers increases, the company receives software charge and membership fees which are the income of the company. </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Currently, there are around 100 clients and 16 brokers of WEX. The company has chosen to increase the clients by spreading knowledge about the commodities market and skills to do trading. Until now, the company has given orientation classes free of cost to 100 - 150 potential clients. The company considers this as an act of Corporate Social Responsibility even before starting to make any profits.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The company has plans to invest further in Corporate Social Responsibility (CSR) after it makes a strong foothold in the market. For now, the company likes to call its orientation classes and its responsible operation as CSR activities.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The company believes in good governance, transparency, decentralisation and system-run mechanism. Singh says, “We don’t believe in one man decision. It has to be a group decision always.†High moral ethics, integrity, discipline etc are must for anyone in the company. Currently, there are 12 staff members in WEX. “Our philosophy is that everyone in the office must have high degree of ethical standards, honesty and competency. ‘Salary is no bar for deserving candidates’ is our philosophy of human resource management and we guarantee a highly motivating career.â€</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">WEX does not feel any competition in the real sense. According to Singh, there is competition with three other exchanges but not in service, commission and platform. “We have monopoly as regards Meta Trader 4 and our efficient and professional standards,†he added.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Being a new entrant in the market, WEX has some challenges to defeat. Preconceived ideas that everyone will lose in the commodities trading has become the biggest challenge. “Brokers feel comfortable with old clients. They bargain unnaturally,†said Singh, “Limited knowledge and long term strategy are the main challenges we are facing now.â€</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The company believes steady growth is the best option for now considering the situation of the country. It is planning to expand its services beyond the Kathmandu Valley. Singh informed that there are already quite a few clients outside the capital. Therefore, expansion into major hubs like Biratnagar, Birgunj, Pokhara, Nepalgunj, Janakpur, Birtamod and Bhairahawa where the company sees immense potential, is in the pipeline. Similarly, WEX is focusing on increasing the number of brokers to 50 and clients to 1,000 in the near future. “We are quality focused. We look for clients who can spare their surplus money, but we don’t advise over stretching their expenses and over trading in the commodities market,†he explained.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The commodities market lacks the presence of regulatory authority and WEX strongly feels its requirement. Though there are directives, an Act is yet to be formulated. SEBON is proposed as the regulator by the Ministry of Finance. Singh said that an external regulator is needed for check and balance so that regular inspections are implemented and corrective measures are enacted by the exchanges as required by the regulator from time to time. Singh feels that the regulator can regulate the exchange companies and also help in developing the expertise of national and international standard. This sector is yet to be explored fully by the investors as opportunities are unlimited.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Though registered as a private limited company, WEX is working and looking forward to going public in the near future. It aims at being the premier commodities exchange in the country, managed by a highly professional and dedicated team for contributing towards the growth of this sector by disseminating knowledge and investment opportunities to investors. </span></div> <div style="text-align: justify;"> <span style="font-size: 9.5pt; line-height: 115%;">WEX is confident that the commodities market will grow tremendously and become popular in the days to come that open the new vista of investment and speculative trading to people in general. </span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> SWOT Analysis</div> <div style="text-align: justify;"> Strengths:</div> <div style="text-align: justify;"> • First Spot exchange in Nepal specialising in Gold and Silver</div> <div style="text-align: justify;"> • Huge capability to facilitate the most complex and demanding trading. The WEX Platform offers trading 24 hours a day throughout the trading week which is more than any other exchange in the country</div> <div style="text-align: justify;"> • The liquidity of trading is largest and most diverse. Ability to execute large purchases and sales orders quickly and efficiently</div> <div style="text-align: justify;"> • WEX market is fair, transparent and anonymous and its electronic trading platform offers the same opportunity for all participants</div> <div style="text-align: justify;"> • Good corporate governance with experienced team</div> <div style="text-align: justify;"> • First commodity exchange to introduce mobile trading</div> <div style="text-align: justify;"> • Contract does not expire in SPOT exchange unlike in future exchange</div> <div style="text-align: justify;"> Weaknesses:</div> <div style="text-align: justify;"> • Specialisation in two commodities. Unable to provide service to investors having interest in other commodities</div> <div style="text-align: justify;"> • Teething problems as WEX is in its initial stage</div> <div style="text-align: justify;"> • Unable to expand its potentials in the absence of a government regulator</div> <div style="text-align: justify;"> Opportunities:</div> <div style="text-align: justify;"> • Huge market potential</div> <div style="text-align: justify;"> • By-product of commodities market is not practised</div> <div style="text-align: justify;"> Threats:</div> <div style="text-align: justify;"> • Unstable political situation</div> <div style="text-align: justify;"> • Inadequate knowledge of commodities market</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Quick Facts</div> <div style="text-align: justify;"> • Incorporated at Company Registrar of Nepal on 18 March 2010</div> <div style="text-align: justify;"> • Came into operation from 11 Nov 2010</div> <div style="text-align: justify;"> • Number of Trading Members: 17</div> <div style="text-align: justify;"> • Number of active traders: More than 300</div> <div style="text-align: justify;"> • Strategic Bank: Bank of Kathmandu</div> <div style="text-align: justify;"> • Traded Commodities: Gold and Silver</div> <div style="text-align: justify;"> • Minimum Trading Size: 100 gm Gold and 5 Kg Silver at Rs 7,000 Margin</div> <div style="text-align: justify;"> • Trading Platform: Meta Trader 4</div> <div style="text-align: justify;"> • Spread (difference of bid and ask): 20 on Gold and 1 on Silver</div> <div style="text-align: justify;"> • Coverage outside the valley : 20 per cent</div> <div style="text-align: justify;"> • Average Monthly Transaction (standard lot): approximately 1,250</div> <div style="text-align: justify;"> • Average Monthly Transaction by number: 1,860</div> <div style="text-align: justify;"> • Average Monthly Transaction by individual investor: approx 6</div> <div style="text-align: justify;"> • Annual trading member target: 30</div> <div style="text-align: justify;"> • Annual target of active investors: 2,000</div> <div style="text-align: justify;"> • Annual target coverage outside Kathmandu Valley: 35 per cent of total</div> <div style="text-align: justify;"> <i><span style="font-size: 8pt;">Source</span></i><span style="font-size: 8pt;">: WEX</span></div> <div style="text-align: justify;">  </div>', 'published' => true, 'created' => '2011-06-03', 'modified' => '2011-06-03', 'keywords' => '', 'description' => 'The commodities exchange business is quite young in Nepal. However, the Wealth Exchange (WEX), the newest such exchange of the country is making big strides though it started business only about five months ago.', 'sortorder' => '234', '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' => '310', 'article_category_id' => '39', 'title' => 'Kist Bank’s Social Service', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-indent: 0in; text-align: justify;"> <span style="font-size: 13.5pt;"><img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/corporate focus.jpg" style="width: 204px; height: 183px;" vspace="1" />W</span>ith a network of 51 branches and 73 ATM outlets, Kist Bank Limited is slowly but surely inching towards becoming a premier bank. With an existing customer base of 300,000, the bank is focusing on providing faster and friendlier services. Kamal Prasad Gnawali, the Managing Director of the bank says, “Kist Bank stands for customers’ convenience and support. We always look forward to serve them by understanding their needs and designing tailored products.â€</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> Kist Merchant Banking and Finance was initially incorporated as a ‘C’ category financial institution in 2003 for undertaking limited banking activities. It started commercial banking activities as Kist Bank Limited from 7 May 2009. Starting with seven employees in 2003, it has 582 people in its ranks today. The bank has deposits to the tune of Rs 16 billion and loans of Rs 13 billion in current fiscal year 2010-11. In the last fiscal year 2009-10, the deposits and loans stood at Rs 15 billion and Rs 12.5 billion respectively.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> The bank is driven by values of efficiency in operations, integrity and a strong focus on catering the needs of every customer by offering high quality and cost effective products and services. The management team along with its dedicated employees operate in a highly automated environment. It has put in substantial efforts and investments in acquiring the best technologies available to build necessary banking infrastructure. The bank’s superior information technology and communication systems enable delivery of prompt and quality services.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: 0.1pt;">Due to its wide network of branches, a sizeable population has access to its banking services where most value added services come free of cost. Gnawali says that the transition to a full-fledged bank in 2009 was a major turning point in the company’s history. “It was a challenge in terms of manpower, market perception and expectations,†he admits. Having pioneered many products in Nepal’s financial sector, the bank these days does not pursue matters aggressively. It rather believes in a controlled business approach and focuses on individuals and SMEs as its clients.</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: 0.2pt;">A young bank with its employees averaging 26 years of age, it believes in a democratic style of working. The staff equation is well taken care of by maintaining a good balance between senior and junior employees. The human resource department at the bank conducts training every week to increase the efficiency of its workforce. Kist Bank believes in having a participative management and ensures easy access and direct approach among its employees. Gnawali was the First Runner Up at the prestigious MAN Awards 2010 under ‘Manager of the Year’ category. “Any award that I receive is because of the bank and not for me as an individual,†he says giving credit for his personal success to the bank’s management team. </span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <strong>Commitment to CSR</strong></div> <div style="text-align: justify;"> For Kist Bank, corporate social responsibility (CSR) has always been a top agenda. It means embracing responsibility for the impact of its activities on the environment, consumers, employees, communities, stakeholders and the public at large. Gnawali explains, “It helps us manage our business responsibly and sensibly for long term sustainable banking.â€</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <strong>Some CSR commitments of the bank include:</strong></div> <div style="text-indent: 0in; text-align: justify;"> <b> </b></div> <div style="text-indent: 0in; text-align: justify;"> <b><span style="">Cash Assistance to Cyclist Puskar Shah</span></b></div> <div style="text-align: justify;"> The bank honoured cyclist Puskar Shah as its goodwill ambassador and assisted him during his world cycling tour of 150 countries. It also provided a cash assistance of Rs 442,417 to Shah for his expedition to Mount Everest. Shah took to the summit the national flags of the countries he visiteda as well as a banner with the Kist Bank’s logo.</div> <div style="text-indent: 0in; text-align: justify;"> <b> </b></div> <div style="text-indent: 0in; text-align: justify;"> <b><span style="">Society of Economic Journalists (SEJON)</span></b></div> <div style="text-align: justify;"> The bank has provided a cash assistance of Rs 500,000 to SEJON to establish a revolving fund to provide annual award to three economic journalists. The bank hopes that this award will be an additional incentive to the journalists.</div> <div style="text-indent: 0in; text-align: justify;"> <b> </b></div> <div style="text-indent: 0in; text-align: justify;"> <b><span style="">Traffic Awareness Programme</span></b></div> <div style="text-align: justify;"> With the objective to raise the awareness among the commuters and drivers of public transport vehicles in urban areas, the bank has provided an assistance of Rs 240,000 to create 20,000 traffic awareness stickers. These stickers were pasted on public vehicles in coordination with Namuna Sadan and Media Agency.</div> <div style="text-indent: 0in; text-align: justify;"> <b> </b></div> <div style="text-indent: 0in; text-align: justify;"> <b><span style="">Cataract Surgery</span></b></div> <div style="text-align: justify;"> The bank provided Rs 12,500 for cataract surgery of five ophthalmic patients in an eye camp organised with the initiation of Reyukai Masunga Eye Hospital, Banepa.</div> <div style="text-indent: 0in; text-align: justify;"> <b> </b></div> <div style="text-indent: 0in; text-align: justify;"> <b><span style="">Gaurishankar Campus</span></b></div> <div style="text-align: justify;"> The bank provided cash and kind equivalent to Rs 84,000 for an enlightening discourse programme on Bhagawat Geeta aimed at collecting funds to convert Gaurishankar College at Charikot, Dolakha into a University.</div> <div style="text-indent: 0in; text-align: justify;"> <b> </b></div> <div style="text-indent: 0in; text-align: justify;"> <b><span style="">Street Lights</span></b></div> <div style="text-align: justify;"> Four street lights worth Rs 24,000 were installed at main road in Kalanki, Kathmandu in coordination with LOYUS, an NGO.</div> <div style="text-indent: 0in; text-align: justify;"> <b> </b></div> <div style="text-indent: 0in; text-align: justify;"> <b><span style="">River Conservation and Tree Plantation</span></b></div> <div style="text-align: justify;"> Under the initiation of National Nature Conservation Fund, the bank provided Rs 15,000 for planting 100,000 trees on the banks of Bagmati River.</div> <div style="text-indent: 0in; text-align: justify;"> <b> </b></div> <div style="text-indent: 0in; text-align: justify;"> <b><span style="">Children Memorial Monument and Garden</span></b></div> <div style="text-align: justify;"> A financial assistance of Rs 200,000 was made to Vishwo Shanti Prachar Manch, an NGO, for the construction of children memorial monument and garden near the entrance of Tribhuvan International Airport.</div> <div style="text-indent: 0in; text-align: justify;"> <b> </b></div> <div style="text-indent: 0in; text-align: justify;"> <b><span style="">Plans</span></b></div> <div style="text-align: justify;"> The bank says it has always been giving prime focus on physical infrastructure and human resource development. It has laid emphasis on acquiring state-of-the-art information technology to ensure the most secure transaction and remain competitive. It has enhanced its distribution outlet to reach un-banked areas and serve people with banking services.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> A few key plans of the bank are:</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Having acquired VISA’s Associate Membership in 2011, the bank is set to launch VISA accredited credit and debit cards this year. Presently, the bank has 150,000 debit card holders on its rolls.</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Last year, the company focused on expansion and building internal strength. Situation permitting and with a favourable environment, the bank’s dream this year is to turn multinational and extend its banking services to countries that have sizeable Nepali Diaspora.</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Increase customer base to 500,000 from the present 300,000.</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> The bank currently provides services to customers from its own buildings in Anamnagar, Birtamod, Damak, Biratnagar and Narayangarh. It wants to have own bank buildings at all possible branch locations. A multi-storey building which will house the bank’s main branch and head office is presently under construction at Anamnagar, Kathmandu.</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Too many players in the market have resulted in quality manpower crunch. To counter this, the bank plans to develop a competitive workforce to undertake higher responsibilities. Its training and development department bears the responsibility to train qualified individuals hired by the bank.</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Expand its remittance business making it accessible to a larger section of the population.</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Develop and launch innovative and customer-friendly products to meet the needs of people deprived of banking services. The bank has a research and development wing that carries out research effecting this direction.</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Support the investors to start large infrastructure development projects in the country.</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> The bank also plans to promote micro finance to develop self sustainable enterprises and make individuals self-reliant.</div> <div style="text-align: justify;"> <strong>Vision and Mission</strong></div> <div style="text-align: justify;"> Kist Bank’s vision is to become the best bank based on operational excellence and superior financial performance. It remains open to the idea of a merger. The bank aspires to become a leading bank by providing best quality financial products and services to its customers, enhancing shareholders value, creating excellent growth opportunity for its employees and contributing to the economic prosperity of the country. </div> <div style="text-align: justify;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 120%; vertical-align: middle;"> <b><span style="font-size: 8pt; line-height: 120%;"><img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/kamal prasad.jpg" style="width: 140px; height: 186px;" vspace="1" />Kamal Prasad Gnawali</span></b></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 120%; vertical-align: middle;"> <span style="font-size: 7pt; line-height: 120%;">Managing Director</span></div> <div style="text-align: justify;"> <span style="font-size: 7pt; line-height: 115%;">Kist Bank</span></div> <div style="text-align: justify;"> “The transition to a full-fledged bank in 2009 was a major turning point in the company’s history. It was a challenge in terms of manpower, market perception and expectations,â€</div> <div style="text-align: justify;"> <span style="color: rgb(165, 42, 42);"><br /> </span></div> <div style="text-align: justify;"> <span style="color: rgb(165, 42, 42);">Kist Bank Briefs</span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> The authorised capital is Rs 5 billion and the issued and paid-up capital Rs 2 billion.</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> 60 per cent of the paid-up capital is held by the promoters and remaining 40 per cent by the general public.</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> The shares of the bank are listed at Nepal Stock Exchange Limited (NEPSE) as ‘A’ category shares.</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; line-height: 115%; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span><span> The seven-member Board of Directors (BOD) has three Directors representing the promoters, two representing the general public and one representing the Professional Director.</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> SWOT Analysis</div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">Strengths: </span></b></div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Young and career-oriented workforce</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span>Good relations between Promoters and Directors</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Quick implementation of ideas</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> A sound infrastructure</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Impressive range of products</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Promoters’ trust in the institution</div> <div style="text-align: justify;"> <b><span style="">Weaknesses:</span></b></div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">* </span>Comparatively new entrant in the market</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Limited exposure in corporate banking</div> <div style="text-align: justify;"> <b><span style="">Opportunities:</span></b></div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Foray into corporate banking</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Further business expansion and development</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Build on existing infrastructure</div> <div style="text-align: justify;"> <b><span style="">Threats:</span></b></div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Mushrooming competitors</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Political instability</div> <div style="text-align: justify;"> <span style="font-size: 6.5pt; line-height: 115%; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span>Unhealthy competition</div>', 'published' => true, 'created' => '2011-06-03', 'modified' => '2011-06-03', 'keywords' => '', 'description' => 'With a network of 51 branches and 73 ATM outlets, Kist Bank Limited is slowly but surely inching towards becoming a premier bank. With an existing customer base of 300,000, the bank is focusing on providing faster and friendlier services.', 'sortorder' => '233', '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' => '265', 'article_category_id' => '39', 'title' => 'Healthcare Technologies: Promoting Personal Wellbeing', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-align: justify;"> <b><img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/Vineet Kumar Tulshyan.jpg" style="width: 218px; height: 168px;" vspace="2" />Vineet Kumar Tulshyan</b></div> <div style="text-align: justify;"> Director</div> <div style="text-align: justify;"> Healthcare Technologies Pvt Ltd</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> “In Nepal, spreading awareness about personal healthcare is crucial. In order to live healthy, people must use quality products as it helps them know where they stand medically and take necessary precautions,in time.â€</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Incorporated in 2001, Healthcare Technologies Pvt Ltd has come a long way since. With an annual turnover of Rs 80 million, it has targeted a growth of 15-20 per cent for 2011. Beginning with importing medical equipments in 2001, the company set up a Personal Healthcare Division in 2008. “Given the immense potential for its market in Nepal, we hope that the industry size grows by 1000 per cent,†says Vineet Kumar Tulshyan, the Director of the company. He adds that this tremendous growth can be realised by spreading awareness about personal healthcare. While the expected market is worth a whopping Rs 500 crores, Tulshyan says the current sales of personal healthcare products in Nepal are mere Rs 2-3 crores.<br />  </div> <div style="text-align: justify;"> Run by a group of young and experienced professionals with core interests in the healthcare sector, the company focuses its efforts in specialised areas. The primary objective of Healthcare Technologies is to deliver qualitative medical products and services to the health professionals in Nepal. It has been active in the healthcare sector in different forms and areas. The company imports and distributes medical and surgical equipments, surgical goods, personal healthcare items, laboratory products etc. Its medical equipments are received well in the private sector entities while it is the market leader in personal healthcare products. “Our Microlife range of products enjoy 50 per cent market share,†informs Tulshyan.<br />  </div> <div style="text-align: justify;"> <img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/corporate focus1.jpg" style="width: 266px; height: 166px;" vspace="2" />Healthcare Technologies caters its products to government institutes and organisations, pharmaceuticals companies, hospitals, medical colleges, nursing homes, INGOs and NGOs among others. It has a nationwide distribution network which carries out the work in the most professional manner possible. With its distribution channel in place all over Nepal, it has registered a rapid growth in the last three years. The company had a group turnover (Medical Division) of approx US$ 1.7 million in the last financial year, a growth of nearly 80 per cent. Besides the Kathmandu Valley, the company distributes its products through its dealer network in Butwal, Bhairahawa, Pokhara and Birgunj in central Nepal. Similarly, it has dealers in Nepalgunj in western Nepal and Janakpur, Biratnagar and Dharan in eastern Nepal. The company also indulges in direct marketing to hospitals and nursing homes.<br />  </div> <div style="text-align: justify;"> A total of 15 people are employed with the company under the medical division. Tulshyan says, “I have inculcated a culture in my colleagues that if the company grows, it benefits the employees too.†Healthcare Technologies was recognised by the Nepal Radiological Society in 2009 for its contributions. As part of its corporate social responsibility initiative, it has donated equipments such as Blood Pressure Machines and Thermometers to NGOs and charity hospitals. The company’s mission is to promote personal healthcare system in Nepal. Tulshyan reiterated that spreading awareness is crucial. “In order to live healthy, people must use quality products as it helps them know where they stand medically and take necessary precautions, in time,†says he.<br />  </div> <div style="text-align: justify;"> Tulshyan owes his company’s success to being honest with products and customers. Irrespective of temptations, he does not recommend sub-standard products, he explains. As part of the company’s future endeavours, he plans to manufacture surgical products and start exports in five years time if the government rules and regulations favour the business environment. He says that government support is absolutely important for the sector to flourish.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <strong>Healthcare Technologies and its sister concerns</strong></div> <div style="text-align: justify;"> 1)<span> Healthcare Technologies Pvt Ltd:</span> Exclusive Distributor of</div> <div style="text-align: justify;"> <span> <b>DeVilbiss Healthcare –</b> Portable Oxygen Concentrator and Respiratory Items (5 litre Compact Oxygen Concentrator, IGO Portable Oxygen Concentrator, IFill Personal Oxygen Station, CPAP & Bilevel CPAP)</span></div> <div style="text-align: justify;"> <b>Microlife AG (Switzerland) –</b> Hypertension and Fever Management Products (Digital Blood Pressure Machine, Aneroid Blood Pressure Machine & Stethoscope, Digital Thermometer)</div> <div style="text-align: justify;"> <b> Bayer HealthCare – </b>Diabetic Care Division</div> <div style="text-align: justify;"> <b>AMPall (Korea) – </b>Syringe and Infusion Pumps (Syringe Pump SP-8800, Infusion Pump IP-7700)</div> <div style="text-align: justify;"> <span> <b>Mitsubishi Electric – </b>Video Thermal Printer and Paper</span></div> <div style="text-align: justify;"> 2)<span> Sun Medical Concern:</span> Exclusive Distributor of</div> <div style="text-align: justify;"> <b>GE Healthcare – </b>Technologies (Medical Equipments)</div> <div style="text-align: justify;"> <b>GE Healthcare – </b>Diagnostics (Contrast Media)</div> <div style="text-align: justify;"> 3) Sun Exim:Manufacturer, Importer and Exporter of Medical Recording Paper</div> <div style="text-align: justify;"> 4)<span> Technical Associates Services Pte Ltd:</span> Exclusive Distributor of</div> <div style="text-align: justify;"> <b>Hitachi Air Compressor</b></div> <div style="text-align: justify;"> <b> Thermax Ltd </b>(India)</div> <div style="text-align: justify;"> <b> TAS Medical Gas System </b></div> <div style="text-align: justify;"> <b> Grundfos </b>(Denmark)</div> <div style="text-align: justify;"> 5)<span> Care Plus:</span>Branded Personal Healthcare Product showroom in the heart of Kathmandu City</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> SWOT Analysis</div> <div style="text-align: justify;"> Strengths</div> <div style="text-align: justify;"> Ø Quality of Products</div> <div style="text-align: justify;"> Ø Immediate After Sales Service</div> <div style="text-align: justify;"> Ø Engineer available on Hotline</div> <div style="text-align: justify;"> Ø Competitive Prices</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Weaknesses</div> <div style="text-align: justify;"> Ø Belief in honesty (Tulshyan says he doesn’t bribe to get business)</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Opportunities</div> <div style="text-align: justify;"> Ø Spreading awareness</div> <div style="text-align: justify;"> Ø Small health centres outside Kathmandu Valley</div> <div style="text-align: justify;"> Ø Largely unexploited market</div> <div style="text-align: justify;"> Ø Free BP check up camps in cities and small towns</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Threats</div> <div style="text-align: justify;"> Ø Low quality products</div> <div style="text-align: justify;"> Ø Unhealthy competition</div> <div style="text-align: justify;">  </div>', 'published' => true, 'created' => '2011-04-27', 'modified' => '0000-00-00', 'keywords' => '', 'description' => '“In Nepal, spreading awareness about personal healthcare is crucial. In order to live healthy, people must use quality products as it helps them know where they stand medically and take necessary precautions,in time.â€', 'sortorder' => '191', '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' => '264', 'article_category_id' => '39', 'title' => 'CG Education:Taking Education Beyond Classroom', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-align: justify;"> <b><img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/Bhushan Gurung.jpg" style="width: 197px; height: 141px;" vspace="2" />Bhushan Gurung</b></div> <div style="text-align: justify;"> GM</div> <div style="text-align: justify;"> CG Education</div> <div style="text-align: justify;"> “We believe in a system which is holistic and all encompassing. We envision learning which is self motivated, pragmatic and related to the present context. Our mission is to build an education brand synonymous with quality, scale and dynamism in Nepal.â€</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Encouraged by its spectacular growth in recent times, CG Education aims to have 10,000 students by 2015 under its umbrella. It encompasses schools from pre-school to mainstream schooling under both CBSE and HSEB boards. Ranging from kindergarten to post-graduate level, it plans to expand its reach and create facilities at all major cities in the country. Bhushan Gurung, the GM of CG Education asserts, “We believe in a system which is holistic and all encompassing. We envision learning which is self motivated, pragmatic and related to the present context. Our mission is to build an education brand synonymous with quality, scale and dynamism in Nepal.â€</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> The organisational vision is to be an integral part of the educational revolution and deliver quality to its students. “Our contribution will not only synergise the vibrant educational sector of the nation but will also activate others to follow suit,†adds Gurung. It was part of the strategic plan of Chaudhary Group, the parent company, to balance its investment portfolio between manufacturing and service sectors. CG Education is one venture that strengthens the group’s foray in the service sector where it sees a tremendous growth potential. More importantly, the society at large – students, government and the nation – will benefit from this gigantic effort.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> CG Education’s investment in its present portfolio of schools, colleges and institutes is over Rs 100 crores. This is spread over its flagship ‘The Chandbagh School’ with likely additions in Pokhara , Butwal and the ‘DPS School’ in Birgunj. The latest entrant under its flagship is ‘The Chandbagh Pre School’, a Montessori system based school for children up to six years of age. It envisages acquiring about 25 schools and institutions and bring them under the CG Education fold. The organisation also plans to work on a public-private partnership with Nepal Government on operating many government educational institutions. It hopes that this will result in a total enhancement of quality of these institutions in terms of faculty, infrastructure and management.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Chaudhary Group believes that high quality affordable education is the key to Nepal’s development. Based on the experience gained from running The Chandbagh School successfully in Kathmandu and with a desire to replicate and move to the next level, it entered into a joint venture with Manipal K-12 Education. The venture offers management services to existing and new schools under the brand name CG-Manipal Schools. It also offers <img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/cg edu.jpg" style="width: 349px; height: 164px;" vspace="2" />ICT-based School learning solutions and tutorials. “The CG-Manipal Schools is a logical extension of the Manipal Group’s strength in education and CG’s new initiatives in the field of education,†says Gurung. The schools are designed to use the right combination of technology and pedagogy for an effective learning process. Manipal K-12 is part of Pearson Education, the largest educational resource providing organisation in the world. In recent times, CG-Manipal has acquired the highly successful Campion Institutions namely Campion School-Lagankhel, Campion Academy-Lagankhel, Campion Kathmandu Higher Secondary School-Gahanapokhari and Campion College-Kupandole.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <strong><i>Digi</i> Classrooms</strong></div> <div style="text-align: justify;"> Involved in various educational activities in Nepal since 1996, CG Education has now initiated efforts to establish <i>Digi</i> Classrooms in the educational institutions of the country. It is a cognitive learning approach and is a widely accepted theory on the learning process. “CG Education is now taking an initiative to establish <i>Digi</i> Classrooms in the educational institutions of Nepal,†Gurung proudly states. CG Education wanted to introduce a new approach where students can understand better and retain new information and hence, the effort. <i>Digi</i> Class’s multimedia contents include audiovisual aids, demonstrations, simulations, rhymes, games, activity sheets, eBooks, 3D interactivity, and patterns which help teachers teach the students in a better way and make them understand better. The content support for digital classes is from Manipal K-12. The curriculum is as per the needs and requirements of boards such as CBSE and SLC/HSEB. The product is available in a hassle-free way under Single Window Service.<br />  </div> <div style="text-align: justify;"> The schools associated with CGEducation have already implemented ICT-enabled classes.<br />  </div> <div style="text-align: justify;"> <strong>CG Polytechnic</strong></div> <div style="text-align: justify;"> With the intention to develop skilled human resource for Nepali Industries and for better employment opportunities, CG Polytechnic aspires to be the backbone of country’s skill inventory. The Chaudhary Group of industries and Manmohan Memorial Polytechnic (MMP) have jointly launched a technical training programme at CG’s industrial village - CUG in Nawalparasi from September 2009 offering technical courses on mechanical and industrial faculties. The training includes both theory and practical classes in various technical subjects which is tailor made to meet industrial requirement. The main objective of the training is to bring significant improvement in human skill matrix of the organisation.<br />  </div> <div style="text-align: justify;"> CG Polytechnic is building its capacity to diversify into food technology, accountancy and many other sectors on the need assessment. To be more customer-oriented, it reaches different relevant stakeholders for need analysis as well as maintaining quality of education. In the very near future, CG Polytechnic will become a landmark where technical skills get honed to the highest level.<br />  </div> <div style="text-align: justify;"> <strong>Accreditation and Affiliation</strong></div> <div style="text-align: justify;"> CG Education wants to contribute in all streams of education with the aim to be acknowledged as an institution with complete educational solution. Apart from managing schools and colleges, CG Education is involved in the vocational sector as well. With this objective, it has joined hands with renowned educational institutions of the world. Its international affiliations and accreditations include CBSE Board, ‘A’ Level Cambridge University besides the joint venture with Manipal K-12. CG Education’s association with other educational institutions is intended to derive quality from their years of experience in mainstream education. It is also in the process of obtaining accreditation and affiliation with ISO, IB, ETS, ESOL and other renowned educational institutions and agencies.</div> <p style="text-align: justify;"> CG Education’s ultimate vision and mission is to impart world class holistic education and produce educated citizens equipped to meet international standards.</p>', 'published' => true, 'created' => '2011-04-27', 'modified' => '0000-00-00', 'keywords' => '', 'description' => '“We believe in a system which is holistic and all encompassing. We envision learning which is self motivated, pragmatic and related to the present context. Our....', 'sortorder' => '190', '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' => '263', 'article_category_id' => '39', 'title' => 'Leon Motors:Recreating Mitsubishi Magic', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-align: justify;"> <b><img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/Ashish Shrestha.jpg" style="width: 246px; height: 176px;" vspace="2" />Ashish Shrestha</b></div> <div style="text-align: justify;"> Executive Chairman</div> <div style="text-align: justify;"> Leon Motors Private Limited</div> <div style="text-align: justify;"> “A little over a decade ago, Mitsubishi Pajero was the synonym for an SUV (Sports Utility Vehicle). That perception changed during the quiet period of eight years but we hope to bring back the lost glory of yesteryears.â€</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Leon Motors Private Limited is the authorised sub-distributor in Nepal for Mitsubishi Motors Corporation, Japan and Mitsubishi Fuso Group, Japan. The company started importing Mitsubishi vehicles in 2008 and has sold over 150 units so far. 2010 was its most productive year in which it sold 70 units. The vehicles sold by the company fall on different price points ranging between Rs 4 million and Rs 12 million.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Leon Motors is the brainchild of its dynamic Executive Chairman Ashish Shrestha. Coming from a family that has traditionally dealt in gold for generations, Shrestha holds an MBA degree from American InterContinental University in United Kingdom. After returning to Nepal in 2006, he wanted to establish a business that suited his personality and justified his management acumen. And thus, Leon Motors came into being in 2007. It is currently focused on reviving the brand image of Mitsubishi Motors. The brand lost its charm and took a beating in the Nepali market due to non-availability of new models from 1998 till 2006. Shrestha says, “A little over a decade ago, Mitsubishi Pajero was the synonym for an SUV (Sports Utility Vehicle). That perception changed during the quiet period of eight years but we hope to bring back the lost glory of yesteryears.†He believes that 236 per cent duty on importing vehicles is astronomically high and plagues Nepali automobile market to a large extent. The company plans to revive Mitsubishi Fuso trucks and buses in 2011 to achieve its targeted growth of 10 per cent.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Shrestha rues the unhealthy competition that exists in the automobile market. According to him, a number of automobile companies in Nepal under-invoice their transactions which helps them to dodge the tax and reduce the retail price or increase their profit. He strongly believes that this unethical practice needs to be stopped as it creates unfair competition in the market. To make his point strong, Shrestha proudly shows a certification from TRACE Inc, a US based internationally recognised organisation promoting transparency and anti-bribery compliance in international business transactions.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> The company practices an ‘open door policy’ where the employees have direct access to Shrestha for any matter they need to discuss, be it a suggestion or a complaint. An outsider might as well feel that it’s a family run business. That’s the level of camaraderie which exists between the employees at Leon Motors. As part of its CSR (Corporate Social Responsibility) initiative, the company supports an NGO, Society Developer Nepal with its endeavour in providing education for underprivileged children.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Leon Auto Works is the sole authorised after-sales and service centre for Mitsubishi Motors Corporation and Mitsubishi Fuso Group. Besides this servicing arm of Leon Motors Private Limited, there are a number of group companies <i>(see box)</i>.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> This group of businesses employs more than 50 people on a permanent basis and considers itself blessed to have a dedicated workforce, many of whom have been involved in their jobs for years now. Shrestha believes that the market is circled with inflated prices, for example, unreal values of real estate holdings. He adds that this coupled with political instability are the major reasons behind people refraining from making investments in the country. On an optimistic note, however, the group plans to enter hospitality business by establishing boutique hotels. It is currently scouting for properties in Kathmandu and Pokhara and seeks to contribute towards Nepal’s tourism prospects. On a personal note, Shrestha has the burning desire in him to bring more hydropower projects to Nepal. He hopes to succeed in convincing investors to do so as it promises to put the country back on track to attain sustainable development. n</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Sister concerns of Leon Motors Pvt Ltd</div> <div style="text-align: justify;"> <b>1. Leon Global Private Limited (Trading) </b></div> <div style="text-align: justify;"> A successful trading house, it has represented an impressive list of international organisations on turnkey projects in Nepal. The company promotes development related projects in the tourism and civil aviation sector, establishment of industries, construction of hydropower projects, supply of communication equipments etc to Nepalese Army, Nepal Telecom and Civil Aviation Authority of Nepal and supply of construction equipments to the Ministry of Physical Planning & Works among others. It is extensively involved in liaison work and promotional activities and provides complete local support during pre and post tendering periods.<br />  </div> <div style="text-align: justify;"> <b>2. Leon Hager International Private Limited (Distribution)</b></div> <div style="text-align: justify;"> <span> It is into distribution business representing various international beverage companies around the world. It currently imports and distributes alcoholic and non alcoholic brands such as ‘Nite’, a ready-to-drink (RTD) product from Thai Spirit Industry Co Ltd, Thailand; ‘Ignite’, a vodka based RTD product from Ignite Corp Pty Ltd, Australia; ‘Jugular’ and ‘Rock’ energy drinks from Jugular Global Pacific Ltd, Australia; ‘Victoria Bitter’ – Australia’s highest selling beer – popularly known as VB from Foster’s Group and rich and robust cooking wines from Australia and France among other European countries.<br /> <br /> </span></div> <div style="text-align: justify;"> <b>3. Green City Development Private Limited (Township Development)</b></div> <div style="text-align: justify;"> This company was established in 2007 along with the leading business houses to develop first-of-a-kind township within the Kathmandu Valley. It plans to build a township covering approximately 387 acres of land with all modern amenities one can think of. Currently, the company is busy purchasing land at the site of the planned project. While it hopes to complete its land acquisition deals by this year end, the project plan and design is being prepared by a Singapore-based firm.<br />  </div> <div style="text-align: justify;"> <b>4. Ivory International Private Limited (Construction)</b></div> <div style="text-align: justify;"> <span> Involved in construction business, it has tied up with a leading Chinese construction company, China Railway Engineering Group Co Ltd. This joint venture has been constructing various projects that include commercial buildings, hospitals, hotels, apartment buildings, super malls, roads, bridges, hydropower plants and many more.</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> SWOT Analysis</div> <div style="text-align: justify;"> <b>Strengths </b></div> <div style="text-align: justify;"> *Strong management team</div> <div style="text-align: justify;"> *Prime location (Shantinagar, New Baneshwor)</div> <div style="text-align: justify;"> *Famous brand name</div> <div style="text-align: justify;"> * Innovative ideas</div> <div style="text-align: justify;"> <b>Weaknesses</b></div> <div style="text-align: justify;"> * Branding hiatus between 1998-2006</div> <div style="text-align: justify;"> * Lack of a state-of-the-art showroom</div> <div style="text-align: justify;"> <b>Opportunities</b></div> <div style="text-align: justify;"> * Impending expansion</div> <div style="text-align: justify;"> * Sports models</div> <div style="text-align: justify;"> (small hatchback cars by 2011 end)</div> <div style="text-align: justify;"> <b>Threats</b></div> <div style="text-align: justify;"> *Too many players in the market</div> <div style="text-align: justify;"> * Unhealthy competition</div> <div style="text-align: justify;"> * Competitors’ prices</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> Mitsubishi Products in Nepal</div> <table border="1" cellpadding="1" cellspacing="1"> <tbody> <tr> <td style="text-align: justify;" width="28"> *</td> <td width="172"> <div style="text-align: justify;"> Mitsubishi Pajero</div> </td> </tr> <tr> <td width="28"> <div style="text-align: justify;"> *</div> </td> <td width="172"> <div style="text-align: justify;"> Pajero Sport</div> </td> </tr> <tr> <td width="28"> <div style="text-align: justify;"> *</div> </td> <td width="172"> <div style="text-align: justify;"> Outlander</div> </td> </tr> <tr> <td width="28"> <div style="text-align: justify;"> *</div> </td> <td width="172"> <div style="text-align: justify;"> Active Smart X-SUV (ASX)</div> </td> </tr> <tr> <td width="28"> <div style="text-align: justify;"> *</div> </td> <td width="172"> <div style="text-align: justify;"> L200 Sportero</div> </td> </tr> <tr> <td style="text-align: justify;" width="28"> *</td> <td width="172"> <div style="text-align: justify;"> L300</div> </td> </tr> <tr> <td style="text-align: justify;" width="28"> *</td> <td width="172"> <div style="text-align: justify;"> Lancer Ex</div> </td> </tr> <tr> <td style="text-align: justify;" width="28"> *</td> <td width="172"> <div style="text-align: justify;"> Rosa</div> </td> </tr> <tr> <td width="28"> <div style="text-align: justify;"> *</div> </td> <td width="172"> <div style="text-align: justify;"> Heavy Duty Trucks & Buses </div> </td> </tr> </tbody> </table> <p style="text-align: justify;">  </p>', 'published' => true, 'created' => '2011-04-27', 'modified' => '0000-00-00', 'keywords' => '', 'description' => '“A little over a decade ago, Mitsubishi Pajero was the synonym for an SUV (Sports Utility Vehicle). That perception changed during the quiet period of eight years but we hope to bring back the lost glory of yesteryears.â€', 'sortorder' => '189', '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' => '211', 'article_category_id' => '39', 'title' => 'BOK: Changed Focus', 'sub_title' => '', 'summary' => null, 'content' => '<p> <!--[if gte mso 9]><xml> <w:WordDocument> <w:View>Normal</w:View> <w:Zoom>0</w:Zoom> <w:TrackMoves/> <w:TrackFormatting/> <w:PunctuationKerning/> <w:ValidateAgainstSchemas/> <w:SaveIfXMLInvalid>false</w:SaveIfXMLInvalid> <w:IgnoreMixedContent>false</w:IgnoreMixedContent> <w:AlwaysShowPlaceholderText>false</w:AlwaysShowPlaceholderText> <w:DoNotPromoteQF/> <w:LidThemeOther>EN-US</w:LidThemeOther> <w:LidThemeAsian>X-NONE</w:LidThemeAsian> <w:LidThemeComplexScript>X-NONE</w:LidThemeComplexScript> <w:Compatibility> <w:BreakWrappedTables/> <w:SnapToGridInCell/> <w:WrapTextWithPunct/> <w:UseAsianBreakRules/> <w:DontGrowAutofit/> <w:SplitPgBreakAndParaMark/> <w:DontVertAlignCellWithSp/> <w:DontBreakConstrainedForcedTables/> <w:DontVertAlignInTxbx/> <w:Word11KerningPairs/> <w:CachedColBalance/> </w:Compatibility> <m:mathPr> <m:mathFont m:val="Cambria Math"/> <m:brkBin m:val="before"/> <m:brkBinSub m:val="--"/> <m:smallFrac m:val="off"/> <m:dispDef/> <m:lMargin m:val="0"/> <m:rMargin m:val="0"/> <m:defJc m:val="centerGroup"/> <m:wrapIndent m:val="1440"/> <m:intLim m:val="subSup"/> <m:naryLim m:val="undOvr"/> </m:mathPr></w:WordDocument> </xml><![endif]--><!--[if gte mso 9]><xml> <w:LatentStyles DefLockedState="false" DefUnhideWhenUsed="true" DefSemiHidden="true" DefQFormat="false" DefPriority="99" LatentStyleCount="267"> <w:LsdException Locked="false" Priority="0" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Normal"/> <w:LsdException Locked="false" Priority="9" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="heading 1"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 2"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 3"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 4"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 5"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 6"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 7"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 8"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 9"/> <w:LsdException Locked="false" Priority="39" Name="toc 1"/> <w:LsdException Locked="false" Priority="39" Name="toc 2"/> <w:LsdException Locked="false" Priority="39" Name="toc 3"/> <w:LsdException Locked="false" Priority="39" Name="toc 4"/> <w:LsdException Locked="false" Priority="39" Name="toc 5"/> <w:LsdException Locked="false" Priority="39" Name="toc 6"/> <w:LsdException Locked="false" Priority="39" Name="toc 7"/> <w:LsdException Locked="false" Priority="39" Name="toc 8"/> <w:LsdException Locked="false" Priority="39" Name="toc 9"/> <w:LsdException Locked="false" Priority="35" QFormat="true" Name="caption"/> <w:LsdException Locked="false" Priority="10" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Title"/> <w:LsdException Locked="false" Priority="1" Name="Default Paragraph Font"/> <w:LsdException Locked="false" Priority="11" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Subtitle"/> <w:LsdException Locked="false" Priority="22" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Strong"/> <w:LsdException Locked="false" Priority="20" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Emphasis"/> <w:LsdException Locked="false" Priority="59" SemiHidden="false" UnhideWhenUsed="false" Name="Table Grid"/> <w:LsdException Locked="false" UnhideWhenUsed="false" Name="Placeholder Text"/> <w:LsdException Locked="false" Priority="1" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="No Spacing"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 1"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 1"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 1"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 1"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 1"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 1"/> <w:LsdException Locked="false" UnhideWhenUsed="false" Name="Revision"/> <w:LsdException Locked="false" Priority="34" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="List Paragraph"/> <w:LsdException Locked="false" Priority="29" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Quote"/> <w:LsdException Locked="false" Priority="30" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Intense Quote"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 1"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 1"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 1"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 1"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 1"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 1"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 1"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 1"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 2"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 2"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 2"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 2"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 2"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 2"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 2"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 2"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 2"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 2"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 2"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 2"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 2"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 2"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 3"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 3"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 3"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 3"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 3"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 3"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 3"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 3"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 3"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 3"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 3"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 3"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 3"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 3"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 4"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 4"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 4"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 4"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 4"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 4"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 4"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 4"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 4"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 4"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 4"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 4"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 4"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 4"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 5"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 5"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 5"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 5"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 5"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 5"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 5"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 5"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 5"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 5"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 5"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 5"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 5"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 5"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 6"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 6"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 6"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 6"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 6"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 6"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 6"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 6"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 6"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 6"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 6"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 6"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 6"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 6"/> <w:LsdException Locked="false" Priority="19" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Subtle Emphasis"/> <w:LsdException Locked="false" Priority="21" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Intense Emphasis"/> <w:LsdException Locked="false" Priority="31" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Subtle Reference"/> <w:LsdException Locked="false" Priority="32" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Intense Reference"/> <w:LsdException Locked="false" Priority="33" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Book Title"/> <w:LsdException Locked="false" Priority="37" Name="Bibliography"/> <w:LsdException Locked="false" Priority="39" QFormat="true" Name="TOC Heading"/> </w:LatentStyles> </xml><![endif]--><!--[if gte mso 10]> <style> /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} </style> <![endif]--></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <b><span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 55.5pt;"><span style="font-size: 16px;">B</span></span></b><span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">ank of Kathmandu (BOK) has two distinct identities. One, it is among the few commercial banks managed entirely by Nepali professionals. Second, it is the only commercial bank with more shares in the hands of the public shareholders than with the promoters. The Bank recorded some 25 per cent increase in its net profit in the first quarter of the current fiscal year (2010/11). In the first quarter of last fiscal year (2009/10), the Bank had a net profit of Rs 120 million. In this year’s corresponding period, the Bank’s net profit rose by some 40 million to cross Rs 160 million. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">“This time around, it was not wise to thicken the balance sheet by increasing deposits. Rather, we focused on increasing the net profit,†says Ajay Shrestha, Chief Executive Officer of the Bank since February 2010. “Aggressive deposit increase would only add to the costs. That’s why, we diverted our focus.†<br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">Though Shrestha joined BOK as its CEO just one year ago, he was not a complete stranger. He was the duty of the CEO in BOK for some six years and had left it to work in another bank. It was only two years gap when he rejoined BOK in February 2010. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">As of today, the total deposit of the Bank is around Rs 18 billion and the loan outstanding is around Rs 17 billion. “We are observing whether the same growth in profit margin will sustain in the coming quarters as well,†Shrestha adds. “Our effort will be to gain a reasonable growth in the profitability. Overall, our balance sheet is stable.†<br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">BOK started operation in March 1995 as a joint venture with the Siam Commercial Bank of Thailand. But the Bank could not do well due to various problems and the main reason cited is the ‘mixed-culture management’ of that time with Nepali and Thai management style not finding synergy. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">So, Siam Commercial Bank pulled out in the year 2000 selling its shares to the general Nepali public. The result was that the Bank’s management came to entirely Nepali hands and the performance of the Bank started turning around. The efforts undertaken during 2001-2004 period set the foundation for the Bank’s success in the following years, notes Shrestha. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">During this period, the Bank changed the customer profile. It focused on importers and exporters and also started project financing in areas such as medical colleges and hydropower. Though the Bank continued financing the corporate sector, it also initiated retail banking at the same time. Under retail banking, the Bank encouraged small account holders to open ‘Sajilo Bachat Khata’ which translates to ‘easy saving account’. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">Today, the Bank has 37 branches including the head office at Kamaladi, Kathmandu, 41 ATM outlets and 6 extension counters across the country. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">According to Shrestha, the human resource management of the bank is based on the concept of looking basically on two factors: recruitment standard and growth potential. “Under the first, we evaluate whether the new recruit is as per the level and requirements that we have set. Under the second, we provide growth potentials within the organisation for the hired ones.†<br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">The Bank, however, is not always lucky to get the manpower of required quality. Though most of the newcomers have a management degree, they still need brushing up their skills. The reason is that the fresh graduates are mostly with academic background in finance but the Bank needs people also for non-finance fields such as marketing, general management etc. This sometimes creates problems for the Bank. Marketing is very crucial for a bank to sustain and expand. “But, we don’t often get the manpower trained and educated on quality marketing,†laments Shrestha. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">However, the challenges in the human resource field don’t end there. As the competition is stiff in banking sector, one bank’s capable employees are lured by other banks offering attractive perks and benefits. According to Shrestha, his bank is facing this challenge by continuous training process. He stresses that as long as a bank has the capacity to train its staff, it would not be a problem when some individuals leave the bank. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">At present, the number of employees with the Bank is 780. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">According to the opinion of Shrestha, the people don’t differentiate between the banks much. For them, bank A and bank B are the same, he says and underlines the need to educate the people so that they could differentiate between the banks. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">When Shrestha rejoined BOK as its CEO in February 2010, Shrestha mainly concentrated on two initiatives to increase the customer base. First, he offered higher interest rates to small depositors and next, he brought the ‘unbanked’ population to banking service. In this connection, the Bank paid attention to expanding customer base outside the Kathmandu valley. And the result is that, in the last 10 months or so, some 30 thousand new accounts were opened in the Bank. “We ran a campaign making people aware that deposits are important in life. Being present ourselves in the field, we helped women, the disabled and the low income people open their own bank accounts,†says he. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">An account can be opened in BOK with Rs 1000 as balance to which the Bank adds Rs 300 from its side, thus making the ‘seed money’ rise up to Rs 1300. The Bank has also removed the minimum deposit requirement in the fixed deposit. However, BOK has not offered ‘zero balance’ or ‘Rs 1†accounts that many other banks are offering.<span style=""> </span>“Zero balance or Rs 1 accounts may not help the people to learn about generating value from their deposits. That’s why we did not go for that,†explains Shrestha.<span style=""> </span> <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">Another strategic decision of the Bank is to focus its lending to a few areas so that the profiting position is not lost. Therefore, the Bank is providing only a few types of loans such as corporate loan, SME loan, retail loan, credit card and development credit. The Bank has plans to become even more focused, reveals Shrestha. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">The Bank has changed even its focus in Corporate Social Responsibility. In the past, the Bank’s key priority areas used to be education, health and environment. But for the past few years, the Bank has been focusing on finance and banking. Under this, the Bank has been campaigning to raise people’s awareness on the value of deposits with the slogan, “We make your life easier.†<br /> </span></p> <p class="MsoNormal"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt; line-height: 115%;"><br /> </span></p> <p class="MsoNormal"> <span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt; line-height: 115%;">Shrestha’s management mantra is efficiency, not volume. ‘Efficiency is a must for a bank’s survival’ is his refrain. </span><span style="font-size: 6.5pt; line-height: 115%; font-family: Wingdings; color: rgb(237, 28, 36); letter-spacing: -0.15pt;"><span style=""> </span> <br /> </span></p> <p class="MsoNormal" style="text-align: center;"> <span style="font-size: 20px;"><span color:="" franklin="" gothic="" heavy="" sans-serif=""><br /> </span></span></p> <p class="MsoNormal" style="text-align: center;"> <!--[if gte mso 9]><xml> <w:WordDocument> <w:View>Normal</w:View> <w:Zoom>0</w:Zoom> <w:TrackMoves/> <w:TrackFormatting/> <w:PunctuationKerning/> <w:ValidateAgainstSchemas/> <w:SaveIfXMLInvalid>false</w:SaveIfXMLInvalid> <w:IgnoreMixedContent>false</w:IgnoreMixedContent> <w:AlwaysShowPlaceholderText>false</w:AlwaysShowPlaceholderText> <w:DoNotPromoteQF/> <w:LidThemeOther>EN-US</w:LidThemeOther> <w:LidThemeAsian>X-NONE</w:LidThemeAsian> <w:LidThemeComplexScript>X-NONE</w:LidThemeComplexScript> <w:Compatibility> <w:BreakWrappedTables/> <w:SnapToGridInCell/> <w:WrapTextWithPunct/> <w:UseAsianBreakRules/> <w:DontGrowAutofit/> <w:SplitPgBreakAndParaMark/> <w:DontVertAlignCellWithSp/> <w:DontBreakConstrainedForcedTables/> <w:DontVertAlignInTxbx/> <w:Word11KerningPairs/> <w:CachedColBalance/> </w:Compatibility> <m:mathPr> <m:mathFont m:val="Cambria Math"/> <m:brkBin m:val="before"/> <m:brkBinSub m:val="--"/> <m:smallFrac m:val="off"/> <m:dispDef/> <m:lMargin m:val="0"/> <m:rMargin m:val="0"/> <m:defJc m:val="centerGroup"/> <m:wrapIndent m:val="1440"/> <m:intLim m:val="subSup"/> <m:naryLim m:val="undOvr"/> </m:mathPr></w:WordDocument> </xml><![endif]--><!--[if gte mso 9]><xml> <w:LatentStyles DefLockedState="false" DefUnhideWhenUsed="true" DefSemiHidden="true" DefQFormat="false" DefPriority="99" LatentStyleCount="267"> <w:LsdException Locked="false" Priority="0" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Normal"/> <w:LsdException Locked="false" Priority="9" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="heading 1"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 2"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 3"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 4"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 5"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 6"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 7"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 8"/> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 9"/> <w:LsdException Locked="false" Priority="39" Name="toc 1"/> <w:LsdException Locked="false" Priority="39" Name="toc 2"/> <w:LsdException Locked="false" Priority="39" Name="toc 3"/> <w:LsdException Locked="false" Priority="39" Name="toc 4"/> <w:LsdException Locked="false" Priority="39" Name="toc 5"/> <w:LsdException Locked="false" Priority="39" Name="toc 6"/> <w:LsdException Locked="false" Priority="39" Name="toc 7"/> <w:LsdException Locked="false" Priority="39" Name="toc 8"/> <w:LsdException Locked="false" Priority="39" Name="toc 9"/> <w:LsdException Locked="false" Priority="35" QFormat="true" Name="caption"/> <w:LsdException Locked="false" Priority="10" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Title"/> <w:LsdException Locked="false" Priority="1" Name="Default Paragraph Font"/> <w:LsdException Locked="false" Priority="11" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Subtitle"/> <w:LsdException Locked="false" Priority="22" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Strong"/> <w:LsdException Locked="false" Priority="20" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Emphasis"/> <w:LsdException Locked="false" Priority="59" SemiHidden="false" UnhideWhenUsed="false" Name="Table Grid"/> <w:LsdException Locked="false" UnhideWhenUsed="false" Name="Placeholder Text"/> <w:LsdException Locked="false" Priority="1" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="No Spacing"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 1"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 1"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 1"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 1"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 1"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 1"/> <w:LsdException Locked="false" UnhideWhenUsed="false" Name="Revision"/> <w:LsdException Locked="false" Priority="34" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="List Paragraph"/> <w:LsdException Locked="false" Priority="29" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Quote"/> <w:LsdException Locked="false" Priority="30" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Intense Quote"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 1"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 1"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 1"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 1"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 1"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 1"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 1"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 1"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 2"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 2"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 2"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 2"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 2"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 2"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 2"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 2"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 2"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 2"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 2"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 2"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 2"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 2"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 3"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 3"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 3"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 3"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 3"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 3"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 3"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 3"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 3"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 3"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 3"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 3"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 3"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 3"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 4"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 4"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 4"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 4"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 4"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 4"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 4"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 4"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 4"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 4"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 4"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 4"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 4"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 4"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 5"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 5"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 5"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 5"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 5"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 5"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 5"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 5"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 5"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 5"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 5"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 5"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 5"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 5"/> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 6"/> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 6"/> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 6"/> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 6"/> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 6"/> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 6"/> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 6"/> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 6"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 6"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 6"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 6"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 6"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 6"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 6"/> <w:LsdException Locked="false" Priority="19" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Subtle Emphasis"/> <w:LsdException Locked="false" Priority="21" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Intense Emphasis"/> <w:LsdException Locked="false" Priority="31" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Subtle Reference"/> <w:LsdException Locked="false" Priority="32" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Intense Reference"/> <w:LsdException Locked="false" Priority="33" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Book Title"/> <w:LsdException Locked="false" Priority="37" Name="Bibliography"/> <w:LsdException Locked="false" Priority="39" QFormat="true" Name="TOC Heading"/> </w:LatentStyles> </xml><![endif]--><!--[if gte mso 10]> <style> /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} </style> <![endif]--></p> <p style="text-align: center;"> <span style="font-size: 24px;"><span style="font-family: "Franklin Gothic Heavy","sans-serif"; color: rgb(237, 28, 36);">NIC Bank’s</span><span style="font-family: "Franklin Gothic Heavy","sans-serif"; color: rgb(46, 48, 146);"> Productive </span><span style="line-height: 115%; font-family: "Franklin Gothic Heavy","sans-serif"; color: rgb(46, 48, 146);">Orientation</span></span></p> <p style="text-align: justify;"> <span style="font-size: 55.5pt; letter-spacing: -0.2pt;"><span style="font-size: 20px;"><span style="font-size: 18px;">W</span></span></span><span style="letter-spacing: -0.2pt;">ith the conclusion of its 13th Annual General Meeting, Nepal Industrial and Commercial Bank Limited (NIC) has decided to distribute a cash dividend of 26.32 per cent. This is one of the highest dividend payout by any bank in 2010. The Bank posted a Net Profit of Rs 449.8 million in FY 2009/10 which is 42 per cent more than last year. The Bank’s Non-Performing Loans are very low at 0.7 per cent. Similarly, in the first four months of this year, the Bank has posted an operating profit of Rs 289 million. The investment of the Bank has also increased from Rs 3.026 billion to Rs 4.947 billion in FY 2009/10 which signifies 63 per cent growth. “Our investment portfolio clearly indicates that our exposure in productive sector is more than 90 per cent. We continue to capitalize on our strengths by increasing our investment in this sector. However, Small and Medium Enterprise sector will be focused more,†says Sunil Pokharel, Head, Retail Banking, NIC Bank. <br /> </span></p> <p class="BODYTEXT"> <span style="letter-spacing: -0.2pt;">The total workforce of the Bank is 320 with 33 per cent female. <br /> </span></p> <p class="BODYTEXT" style="text-align: justify;"> <span style="letter-spacing: -0.2pt;">NIC Bank had commenced its operation on 21st July, 1998 with its head office in Biratnagar. Promoted by several prominent business houses of Nepal, it started with a capital of Rs 500 million which was the highest paid up capital of any bank at that time. The paid-up capital increased to Rs 1.31 billion in FY 2009/10. The Bank has been in profit since its inception and has recorded a robust growth in its overall business and profitability during the recent years. <br /> </span></p> <p class="BODYTEXT" style="text-align: justify;"> <span style="letter-spacing: -0.2pt;">The Bank has been consistently embarking on sustainable network expansion and has successfully added several new branches every year in strategic new locations. At present, the Bank has a total of 28 branches and 26 ATMs across the country serving more than 112,000 customers. The Bank will shortly be opening four more branches and adding 10 ATMs. All its branches are inter-connected through V-SAT and optical-fibre network which is capable of providing on-line real time transactions. <br /> </span></p> <p class="BODYTEXT" style="text-align: justify;"> <span style="letter-spacing: -0.2pt;">Being the first ISO 9001:2008 certified commercial bank of the country, NIC has raised the bars on competition and become more committed towards delivering quality and superior products and services to the customers as well as maintaining corporate governance within its staffs. <br /> </span></p> <p class="BODYTEXT" style="text-align: justify;"> <span style="letter-spacing: -0.2pt;">NIC Bank has played a pioneering role in the Nepali banking sector introducing innovative and customized products and services to its customers. Deposit Products, Business Banking, SME Banking, Consumer Banking, Transaction Banking and Bullion Business are some of the products and services offered by NIC. “We are the first bank to introduce Savings Account Scheme bundled with life insurance. Also, we are the first to introduce fixed deposit account with the ease of a savings account. Recently, we have launched “Complete Savings Accounts†– a truly hassle free account for an individual and “NIC- Remit Savings Accounts†with unique features for those receiving fund from overseas,†says Pokharel.<span style=""> </span> <br /> </span></p> <p class="BODYTEXT" style="text-align: justify;"> <span style="letter-spacing: -0.2pt;">NIC was awarded “Bank of the Year 2007†honour by The Banker Magazine, Financial Times, London. Besides this, it is the first bank in Nepal to be provided a line of credit by International Finance Corporation (IFC), an arm of World Bank Group under its Global Trade Finance Program, enabling the Bank’s Letter of Credit and Guarantee to be accepted by more than 200 banks worldwide. Also, it is the first bank to offer bullion trading and to offer lowest-price home loan schemes. <br /> </span></p> <p class="BODYTEXT" style="text-align: justify;"> <span style="letter-spacing: -0.2pt;">Over the course of five successive fiscal years, the bank’s performance has been tremendous. The Compounded Annual Growth Rate (CAGR) of the bank<span style=""> </span>is one of the highest in the industry for the last five years (see table). “The competition has always been tough. The increasing numbers of banks have now forced to come out from its comfort zone to provide quality services and look for new avenues in order to increase revenue by introducing new and innovative products to its customers. Therefore, we cannot be an exception,†says Pokharel. He adds, “We consider ourselves at the adolescence stage of corporate life cycle and there is a long way to have a turning point. We strongly believe in a positive corporate cultureâ€.<span style=""> </span> <br /> </span></p> <p class="BODYTEXT" style="text-align: justify;"> <span style="letter-spacing: -0.2pt;">The bank has special and distinct Corporate Social Responsibility (CSR) practice. It has sponsored many events and programs which mainly focus on enabling talent through education, creating opportunities through social investments and corporate volunteering. All the contributions and sponsorships come under the Bank’s CSR. As a responsible corporate house, NIC Bank contributes to the society in various ways through NIC Foundation (NICF), an independent non-profit organization promoted by the Bank. The foundation’s main objective is to bring positive societal changes through charitable works. It aims at helping marginalized and underprivileged communities through education, health and skill development. NIC has been providing scholarship to under privileged but meritorious girl children in Kathmandu. It has also been providing scholarship to the visually challenged students who hail from Jumla to pursue their higher education in Kathmandu. It has donated computers to a school of a remote area and provided financial assistance to an orphanage in Birgunj. It has donated two ambulances in Mid-Western Regional Hospital in Surkhet. It has also helped in construction of Mata Tripurasundari Temple at Dhobighat, Lalitpur and has supported to construct a trail from Kusma to Modi Beni in Parbat district. The Bank has also been organizing a Blood Donation Campaign every year. Furthermore, the Bank has also donated for the flood victims in Koshi and diarrhoea victims in Jajarkot. The Bank has recently taken initiatives for the development of sports in Nepal and has sponsored National Open Gymnastics Championship. NICF’s programs are sustained by the Bank’s contribution of 0.5 per cent from its annual profits. NIC is the only bank to have fixed the proportion of its profit to be set aside for such cause. <br /> </span></p> <p class="MsoNormal"> <span style="letter-spacing: -0.2pt;">Being a well established brand with 12 years history, NIC aims to continue striving for better performance and exceed the expectation of all stakeholders. Precisely, the Bank’s future plans are based on providing “Complete Financial Solutions†to the customers and good return on investment to its shareholders. “Apart from increasing footprints and investment in technology and system-upgradation (core banking system), we are also coming with new tailor made products to serve our anticipated customer needs. Also, we are bringing innovative products and services suitable for corporate customers as well as retail customers,†says Pokharel. </span></p> <p class="MsoNormal" style="text-align: center;"> <span style="font-size: 24px;"><span color:="" franklin="" gothic="" heavy="" sans-serif="">Imperial Finance</span><span color:="" franklin="" gothic="" heavy="" sans-serif="">: </span><span style="line-height: 115%; font-family: FranklinGothic; color: rgb(0, 94, 157);">Slow but Steady Steps</span></span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;">Imperial Finance Limited opened a branch on January 14, 2011 at New Road of Kathmandu. Though the company now has only two branches, the presence in the main business centre of the capital gives a very positive message as it is sure to contribute to the business expansion of the company. Established in March 2006 with Rs 50 million as the paid up capital, the company is growing robust with the capital now increased to Rs 150 million. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;">Binod Karki, Chief Executive Officer (CEO) of the company says that the visionary dedication of the founder members has brought the company to this point. The company now has its own building to house its head office for about three years now. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;">Today the company has expanded to two branches and multiplied its capital thrice from Rs 50 million to Rs 150 million, notes Karki who joined the company as the third CEO recently. Now the company is planning to increase its capital to Rs 200 million by 2013 (2070 BS) as required by the central bank. The promoters own 61 percent in the company withy the rest 39 per cent held by the general people. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;">To increase the capital, the company is distributing bonus shares. Last year the company provided 20 per cent bonus share and this year it is giving 15 per cent bonus share. Karki says that the company might also need to issue rights share in the coming days to meet the target of the capital increment. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;">The company has made an operating profit of Rs 47.12 million in the first quarter of the current fiscal year while it was Rs 52.04 million in the same period last year. <br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;">Last year the company had opened a branch in Narayanghat of Chitwan and the branch expansion continued this year with the New Road facility opened. But that is not sufficient for competition in the market that has so many players – commercial banks, development banks, finance companies and saving-credit cooperatives. However, Karki is confident of his company’s competitiveness.<span style=""> </span>Karki says, “We find ourselves ahead based on the asset and loan quality when compared to other companies.†<br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;"><br /> </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-', 'published' => true, 'created' => '2011-02-11', 'modified' => '2011-02-11', 'keywords' => '', 'description' => 'Bank of Kathmandu (BOK) has two distinct identities. One, it is among the few commercial banks managed entirely by Nepali professionals. Second, it is the only', 'sortorder' => '147', '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' => '55', 'article_category_id' => '39', 'title' => 'The Table Of Fishtail Lodge', 'sub_title' => '', 'summary' => null, 'content' => '<p> While in Pokhara, everybody enjoys the magnificent sight of Mt. Fishtail and the Fewa Lake.</p>', 'published' => true, 'created' => '2010-11-04', 'modified' => '2010-11-10', 'keywords' => '', 'description' => 'While in Pokhara, everybody enjoys the magnificent sight of Mt. Fishtail and the Fewa Lake.', 'sortorder' => '14', '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' => '54', 'article_category_id' => '39', 'title' => 'Naturally Embedded Hospitality', 'sub_title' => '', 'summary' => null, 'content' => '<p> Tibetan-style Grand Norling Hotel's Resort(GNHR) is situtated adjacent to beautiful Gokarna forest, yet just a turn from the main highway.</p>', 'published' => true, 'created' => '2010-11-04', 'modified' => '2010-11-11', 'keywords' => '', 'description' => 'Tibetan-style Grand Norling Hotel's Resort(GNHR) is situtated adjacent to beautiful Gokarna forest, yet just a turn from the main highway.', 'sortorder' => '13', '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' => '53', 'article_category_id' => '39', 'title' => 'National Insurance', 'sub_title' => '', 'summary' => null, 'content' => '<p> Against the backdrop of an unending political volatility in Nepal, coupled with economcs downturn and unhealthy competition in the general insurance segment.</p>', 'published' => true, 'created' => '2010-11-04', 'modified' => '2010-11-10', 'keywords' => '', 'description' => 'Against the backdrop of an unending political volatility in Nepal, coupled with economcs downturn and unhealthy competition in the general insurance segment.', 'sortorder' => '12', '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' => '52', 'article_category_id' => '39', 'title' => 'Pioneering Alternative Banking', 'sub_title' => '', 'summary' => null, 'content' => '<p> While branching out is the most strategic decision for most of the Nepali banks holds a different card. "We plan to bring seven million people under the fold of our mobile banking,'" says Ajaya B.saha head of Retail Finance Service, Laxmi Bank, pointing out to the viability of the techono-savvy alternative to banking today. </p>', 'published' => true, 'created' => '2010-11-04', 'modified' => '2010-11-10', 'keywords' => '', 'description' => 'While branching out is the most strategic decision for most of the Nepali banks holds a different card.', 'sortorder' => '11', '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
