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Money Matters News In Brief ( 30 December - 5 January 2014)

  2 min 58 sec to read

National Insurance to Complete Four Decades in Nepal
National Insurance Company is completing four decades of its operations in Nepal on 1st January 2014. The company will be having a month long nationwide celebration in the month of January. The celebrations will start with cake cutting celebrations in head office in Kathmandu and also in all branch offices in Nepal. The company will be distributing blankets, torches and sports item to various institutions including deaf and dumb children as a part of its CSR activities. It will also conduct one day exclusive session for its women employees which will cover areas of health, stress and communication skills among others.  On 5th January, the company is organizing a free health check up and blood donation camp.  
 
NIBL’s 27th AGM Held
Nepal Investment Bank Limited (NIBL)’s 27th Annual General Meeting was held on 26th December. The Net Profit of the Bank has grown by 84.3 per cent to reach Rs 1.91 billion against previous year’s figure of Rs 1.03 billion. The AGM has decided to distribute 25 per cent cash dividend and 10 per cent stock dividend to the existing shareholders.  The Bank has increased its deposits by 9.5 per cent, reaching Rs 62.42 billion against last year’s Rs 57.01 billion. Similarly, total lending of the bank also grew by 11.2 per cent reaching Rs 47.70 billion.
 
Nabil Invest Relocates Offices
Nabil Investment Banking Ltd (Nabil Invest), a Subsidiary Company of Nabil Bank Ltd and a Securities Businessperson (Merchant Banker) has shifted its Chabahil and Anamnagar Offices to Central Plaza at Narayanchaur, Naxal. The new office will provide services like issue management, underwriting, registrar to shares, trusteeship services, depository participant in a central depository service (CDS), portfolio management services (PMS), fund management and depository of Nabil Mutual Fund and corporate advisory services. On this occasion, Nabil Invest is providing 50 per cent discount on the annual management fee on limited PMS products.
 
Mega Bank Supports Aama Ghar
Mega bank has provided Rs 700,000 to Aama Ghar, a philanthropic initiative undertaken by social worker Dil Shova Shrestha. On a programme held on 23rd December, CEO of Mega Bank Anil Keshary Shah handed over the cheque to Shrestha. Shah said that he felt delighted in supporting philanthropic initiatives like ‘Aama Ghar’. He also encouraged the private sector to take initiative in supporting the deprived and destitute people. 
 
Sanima’s Conducts Blood Donation 
Sanima Bank conducted a blood donation program at its head office in Naxal on the occasion of its 10th year of operation. Under its Corporate Social Responsibility (CSR), the Bank has conducted various activities to mark its 10 years of operation. In the current fiscal year, the Bank has approved Rs 6.3 million for CSR activities. The approved amount is 2.07 per cent of net profit of last fiscal year. 
 
Siddhartha Bank’s Blood Donation Program
Siddhartha Bank’s Birgunj Branch organized a blood donation program on 25th December On the occasion of the Bank’s 11th Anniversary. 160 donors participated in the program organized at the branch premises.

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