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Banks
in Nepal |
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Financial institutions |
NB Finance Ltd
Capital Merchant Banking
& Finance
Everest finance
Ime Financial
institution
National finance Co.
Annapurna finance
company
Union finance company
Ace finance company
Hama finance
Good deposit
schemes, 1 year fixed
7%, 3 year even 8%
Alpic everest finance
Central finance company
Nawa Durga Finance Co
Universal finance
Business Development
Finance Inst.
Nawa Kantipur
Deposit and loan schemes |
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News item 8-2-2007 |
Three troubled financial
institutions —
Nepal Bangladesh Bank,
Nepal Sri Lanka Merchant
Bank Ltd (NSLMBL) and NB
Finance Ltd (NBFL) — are
going to be merged soon. If
everything goes well, the merger process is likely to
be completed by the second
week of March. Nepal Rastra
Bank (NRB) has already given
a green signal for the
amalgamation of these three
‘technically insolvent’
financial institutions
promoted by NB Group. Among
them, the central bank took
over the management of Nepal
Bangladesh Bank on November
12 and running the bank by a
NRB-assigned management team
since then. “The merger
process is in the final
stage. We expect it to be
completed by March 14,” Maha
Prasad Adhikari, coordinator
of NRB-led management team,
told this daily. He further
stated that the merger is
necessary to make the bank
financially viable and
retain its lost credibility.
Out of four stages of merger
process, three major stages
— approval from the annual
general meeting (AGM) and
the central bank, and scheme
of arrangement approval from
the office of company
registrar — have been
already completed, informed
Bhisma Raj Dhungana,
coordinator of the merger
committee. “We are now
finalising the revised
scheme of arrangement and
will submit it within a day
or two to NRB and other
concerned offices for the
final approval,” he said,
adding that the shareholders
of these two finance
companies will get NB Bank’s
shares in two:one (2:1)
ratio.
Read
more about this bank merger
Other banking news and
articles:
Profit
of Global Bank (1-2-2008)
Neelgiri Development Bank
collected a deposit of Rs
45.7 million (21-1-2008)
Sanima
introduces debit card
(1-1-2008)
Sunrise bank launches
saving scheme (1-1-2008)
Banepa, city of banks
(16-12-2007)
Vibor Bikas Bank
launches Vibor Super
Yield Deposit
(14-12-2007)
Makwanpur Agriculture
Development Bank
provides new loans for
unemployed (29-11-2007)
Garima Development Bank
Limited opens in Waling
Bazaar (24-11-2007)
Rastriya Banijya Bank
reports profit (17-8-2007)
Ace Finance Company
upgraded to Ace
Development Bank
(15-8-2007)
birat
laxmi development bank
issues shares (8-8-2007)
Profit Capital Merchant
Banking & Finance
(27-7-2007)
Total deposits at the
banking sector grew by
over 10 percent
(24-6-2007)
ADBL
reduces non performing
loans (8-6-2007)
Citizens Bank International
kicks off commercial
operation (21-4-2007)
Rastriya Banijya Bank opens
branch in Banepa
(8-2-2007)
Development Credit Bank
results (29-1-2007)
Buddha on bank notes
(25-1-2007)
agricultural development
bank loans (24-1-07)
recovery plan for bad
loans (1-1-07)
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Easy
money and Nepali loans
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