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Money Matters News In Brief (2 - 8 December 2013)

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RBB Posts 259m Net Profit
Rastriya Banijya Bank Ltd has earned Rs 259.2 million net profit in the first quarter of the current fiscal year. According to the press release of the Bank, the amount is 29 per cent higher than the net profit of the corresponding period of the last fiscal year. During the review period, the Bank has collected Rs 92.78 billion rupees as a deposit, while floated a total of Rs 48.66 billion as a loan. The Bank has non performing loan ratio of 5.55 per cent. The Bank has been serving its customers through 147 branch offices, 10 counters, nine branchless banking and 50 ATM outlets in 64 districts. 
 
Muktinath’s Branch at Bhairahawa
Muktinath Development Bank Ltd has established its new branch office at Bhairawa. The newly opened branch was jointly inaugurated by Nepal Rastra Bank’s Director Harisharan KC and Siddarthanagar Chamber of Industries and Commerce chairman Bishnu Sharma amid a programme last Monday. With this one, the Bank has now a total of 20 branches across the country. According to the press release of the Bank, the branch was established with an aim that ‘bank should reach to the people, not the people should reach to bank’. The banking service can be expanded to the Siddarthanagar municipality and its adjoining VDCs, said Bank’s Chief Executive Officer Bharat Raj Dhakal. 
 
Global IME Signs Agreement with Deniba International 
Global IME Bank and Deniba International Exchange of the UAE have signed an agreement to conduct remittance transactions. Chief Executive Officer of the Bank Ratnaraj Bajracharya and Chief  Director of Deniba, Abbas Mehamad, signed an agreement last Tuesday. As per the agreement, people in Nepal can receive money sent from all the branches of Deniba International UAE from all the 72 branches and 2,500 agents of IME.  The bank had already signed agreements with Emirates India International of the UAE and Alamana Exchange of Qatar.
 
Civil Bank in 4th year
Civil Bank Ltd has entered the fourth year of its operation from last Monday. The Bank organised a blood donation programme at its corporate office premises in Kamaladi to commemorate its fourth anniversary, where 43 persons donated the blood. Likewise, the Company also distributed 230 blankets to the elderly persons at Elderly Home in Pashupatinath. According to the Bank, its paid-up capital has reached Rs 2 billion after issuing Initial Public Offering in the current fiscal year. The Bank has already signed a Memorandum of Understanding (MoU) with the Axis Development Bank and Civil Merchant Finance Company Ltd, said the Bank. The Bank has collected a total of Rs 15.70 billion rupees deposit, while extended Rs 13.96 billion loan in the first quarter of the current fiscal year. The Bank is also planning to start a micro banking service in the near future.
 
Loan within 5 days from Reliable
Reliable Finance Ltd has said that it will extend the loan to its customers within 5 days of processing. According to the Company, it will provide loans for agriculture, middle and micro enterprises, educational, residential homes, and business sectors within five days. This service will be available from its central office in Kathmandu as well as Gongabu, Kalanki, Narayanghat, Lamjung, Manthali, Trishuli and Biratnagar branches, informed the Company.

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