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Money Matters News In Brief (27 January - 02 February 2014)

  2 min 47 sec to read

NIBL Capital Markets Sign Agreement with Hydro Companies 
NIBLNIBL Capital Markets Limited has signed agreements on 23 January with two hydropower companies, United Modi Hydropower Private Limited and ApiPower Company Limited, to act as the issue manager and underwriter for their respective Initial Public Offering.  United Modi Hydro Private Limited will be issuing 4,000,000 units of common stock, having total value of Rs 400 million at Rs 100 par value. Currently, United Modi is in the process of converting into a Public Limited Company. United Modi runs the 10MW Lower Modi-1 Hydropower Project in Parbat and is now constructing 10.5 MW Lower Modi-2 Hydropower Project as the second part of the cascade project. Api Power Company Limited will issue up to 2,046,240 units of common stock, having total value up to Rs 204,624,000 at Rs 100 par value.  Api Power Company Limited has already started construction of the 8.5 MW Naugard Gad Project in Darchula.
 
Dahal Appointed Sanima’s CEO
Bhuvan Kumar DahalBhuvan Kumar Dahal is appointed as the Chief Executive Officer (CEO) of Sanima Bank for four years. The Board Meeting of Sanima Bank held on 21st January, 2014 made the appointment. Dahal had been working at Sanima Bank as a Deputy Chief Executive Officer (DCEO) for the last seven months. Before joining Sanima Bank, Dahal worked at Nabil Bank for 22 years in various capacities. Last three positions he held in Nabil were Chief Operating Officer, Chief Investment Officer and Chief Financial Officer.
 
 
EBL’s ATM in Pashupatinath Temple
Everest Bank Limited (EBL)Everest Bank Limited (EBL) has installed its new ATM inside Pashupatinath Temple premises. The ATM was jointly inaugurated by Govind Tandon (Member Secretary-Pashupatinath Trust) and AK Ahluwalia (CEO-EBL). The inaugural function was also attended by dignitaries including officials of Pashupatinath Trust, Bank’s Employees and Brand Ambassador of EBL Sadichha Shrestha. At the same function, the Bank also distributed warm clothes to around 250 elderly people of Pashupatinath Old-age home.
 
Citizens Bank’s Brach in Siddharthanagar
 Citizens Bank’s Brach in SiddharthanagarCitizens Bank International Limited has opened its 37th branch in Siddharthanagar of Rupandehi. On the occasion, the Bank also distributed warm clothes to elderlies of an oldage home of Basanapur VDC of Rupandehi. Branch Manager Rajendra Thapa Chhetri informed that the branch will provide banking service of international standard to the people of Siddharthanagar and neighbouring areas. The Bank also informed that it will install an ATM in Bhairahawa within a week. The Bank has been offering irs services through 37 branches, 36 ATm counters and 46 branchless banking service. 

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