Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 115]
Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 115]
Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 116]

NBL to Introduce New Policy

  2 min 2 sec to read
NBL to Introduce New Policy
Notice (8): Undefined index: caption [APP/View/Articles/view.ctp, line 241]

August 29: Nepal Bank Limited (NBL) is preparing to move forward with new policies after meeting the capital adequacy ratio (CAR) set by Nepal Rastra Bank (NRB). “NBL was unable to make new policy as CAR was less than 10 percent in previous years,” said Debendra Pratap Shah, CEO of NBL amid a press conference on August 28. According to him, after reaching CAR to 11.41 percent on mid-July this year, the bank can now open new branches and subsidiary companies along with make investment in the secondary market.

In the FY 2071/2072, NBL earned net profit of Rs 3.1 billion. Out of the net profit, Rs 1.14 billion came from sales of properties and Rs 1.86 billion from other transactions. Apart from significant increase in the operating profit, the reserve fund of the bank that was negative since the last three decades was positive by Rs 380 million by the end of last FY.

Currently, the paid up capital of NBL is Rs 6.46 billion. The bank is planning to meet the paid up capital of Rs 8 billion by issuing 23.73 percent right shares this year, as per Shah. However, the major share holder of the bank, Nepal government has not given any decision about purchasing the right shares, he added. According to him, the bank has an option of selling the right shares through auction bidding if the government decides not to invest in the right shares.

If the right shares are sold through auction bidding, the government ownership in the bank will of 50.28 percent only. Currently, NBL has 62.21 percent government ownership and 37.79 percent of public ownership. “If government ownership decreases, it will open door to bring foreign strategic partners,” informed Shah. Previously, Nepal government had 38 percent ownership in NBL. However, the ownership reached 62 percent when the support of World Bank to NBL was converted into government ownership.

Recently, NBL has started operation of Pumori-4 banking system. Similarly, it has built required infrastructure to start smart banking system. The bank has obtained NRB approval regarding implementation of the system.  Likewise, the bank has finalised an agreement with Sajha Yatatyat to provide E-ticket to the passengers that will be started soon, informed Shah. If the plan gets work out, it will be the first incident in Nepal where passengers can pay bus fair with a smart card.

Deprecated (16384): Using key `action` is deprecated, use `url` directly instead. [CORE/Cake/View/Helper/FormHelper.php, line 383]
No comments yet. Be the first one to comment.