|
Banks
in Nepal |
Citizens Bank International
The Bank is located at Sharada Sadan,
Kamaladi, Kathmandu, the heart of financial sector of the country. It is
promoted by eminent personalities/business and industrial houses and
reputed individuals having high social standing. It is managed by a team
of experienced bankers and professionals
Ace Development Bank
Since its inception in August 1995, Ace Finance Company Ltd. (now Ace
Dev. Bank Ltd.) has been a leading player in the financial market of
Nepal. Over the years, regulators and customers have been in
appreciation of the many financial products and innovations developed by
Ace
Prime Commercial Bank
established by prominent business
personnel and professionals from diversified areas with a prime
objective of providing 'Banking Services to Everyone' in the country
where still large number of population are deprived of Banking Services
Sunrise Bank
Founded by reputed entrepreneurs of Nepal, Sunrise Bank Limited (SrBL)
has entered the banking industry of the country with a sizeable capital
base. Powered by a well experienced and professional management team,
the Bank is completely geared for managing banking needs of all. |
|
|
|
News item 13-04-2009 |
Investors of
Citizens Bank International
returned empty-handed and
seething today when issue
manager
Ace Development Bank
Limited failed to return
their deposit. Nearly half
of the collection money
remained unreturned. “Come
the day after tomorrow,”
officials of Unique
Financial Institution
Limited at New Plaza,
Putalisadak have been
telling the investors coming
there for refund.
When a journalist of
The Himalayan Times
asked them why they were not
refunding the deposit they
hemmed and hawed. At last,
an official explained on
condition of anonymity,
“Senior officials are not
here. It is basically a
management problem.” The
nearby
Annapurna Finance also
seemed reluctant to refund
the deposit today. Citizens’
Bank shares were opened to
the public from January 10
to 14 and the allocation was
made on April 9. Around
17,750 people including 115
employees got shares whereas
the total number of
applicants was 275,042. The
issue manager, Ace
Development Bank, has to
return full deposit of 58.64
million units of share
equivalent to Rs 5.864
billion.
“They are cheating us,”
investor Kedar Giri foamed
at the mouth. He too had to
return empty-handed. “They
should be punished,” he
added. Hundreds of others
had to swelter in the heat
because of the mismanagement
of the issue manager and
collection counter workers.
Ace Development Bank has
already published a notice
about refunding the money
from today. Officials of the
bank tried to pass the buck
saying they had already sent
cheques to the collection
counters. “Perhaps, there is
a problem with the courier
service,” said Ace official
Radheya Shrestha, adding, “I
will check and solve the
problem.”
Securities Board
of Nepal (Sebon) also was
caught unawares about the
issue. “Is it happening?”
asked Sebon director Neeraj
Giri after the poser was put
to him. “Sebon will
investigate and punish them
if this is true,” he
assured. Laws and
regulations of Sebon are
sufficient to punish those
committing irregularities.
Sebon can levy a fine from
Rs 50,000 to Rs150,000 from
collection counters failing
to return the deposit in
time. Sebon can even seal
the centres if they do it
again. Lastly, the license
of the issue manager can be
cancelled. “It is the issue
manager’s fault. Ace must
take onus,” said former
Sebon general manager Dr
Chiranjivi adding Sebon must
protect the rights of
investors. He blaming issue
managers for creating delays
like these in order to earn
interest from the deposit.
Source :
thehimalayantimes.com
Other banking news and
articles:
remittance service
Sunrise bank Nepal
(02-02-2009)
Gurkha
Bikash Bank opens fourth
ATM in Nepal (6-12-2008)
increasing number of
banks in Nepal
(29-11-2008)
Citizens Bank
International launches
three saving schemes in
Nepal (17-11-2008)
Sunrise bank starts
operations (11-10-2007)
Everest bank starts
mobile banking
(27-9-2007)
Nepal Bank begins
remittance service
(26-9-2007)
Standard Chartered PLC
to acquire American
Express Bank (19-9-2007)
|
|
Easy
money and banks in Nepal
|
|