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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 4-2-2008 |
Expansion of banks is
increasing the opportunities
for banking staff to
move on to greener pastures
with handsome salaries and
promotions. Bankers said a
paucity of skilled manpower
has surfaced in banking, and
in the coming days the
shortage would only push up
salaries and
benefits. But it will also
hinder expansion plans at
banks. Santosh Nirola joined
the Bank of Asia recently as
head of Finance and Treasury
Department, quitting his
post as manager at
Laxmi Bank. He said he was offered
a higher position and 20
percent more pay than he was
earning in his previous job.
He belongs to a growing
number of bank officials who
are jumping over to other
banks for better salary,
positions and changes in
working style. "Aside from
salary and position, I was
also on a lookout for a new
working place as I had been
in the same place for four
years," he said. Kishor
Maharjan, chief executive
officer of
Sunrise Bank,
the newly established
commercial bank, said his
bank hired 26 officials from
the existing banking system.
"To half of them we gave
promotions, and to the other
half higher salaries," he
said. He said the starting
salary for a fresh official
is Rs 22,000 and an
additional Rs 3,000 for
those having one to two
years of experience. Five
commercial banks came into
operation over the past one
year. The shortage of
manpower will intensify, as
these banks go for branch
expansion. "In the next
year, the new banks will
need 150-200 experienced
hands, which will be very
hard to find," said Maharjan.
"It is very likely that the
manpower shortage will halt
banks' growth plans," he
said. Maharjan said even
established banks are
reeling under the shortage
of qualified human resources
as many staffers have given
up their jobs to go abroad.
"That is why skilled
professionals get a very
good bargain like steep rise
in salary and promotions."
The banking sector has
offered young and
well-educated professionals
attractive careers ever
since joint venture banks
entered Nepal nearly two
decades ago. The payroll is
on a sustained rise. Bank
chief executive officers
(CEOs) are among the highest
paid salary-earners in
Nepal. The CEOs draw in the
range of Rs 400,000 to Rs
1.5 million a month. Sashin
Joshi, vice-president of
Nepal Bankers Association
(NBA), said the salaries in
the banking sector have
grown on an average at an
annual rate of 15 percent
during the last one decade.
There are 23 commercial
banks, 58 development banks
and 80 financial
institutions currently
operating in Nepal.
Read
more about salaries and jobs
in Nepali banking sector
Other banking news and
articles:
More
banks come into operations
in Nepal (13-10-2007)
Nepal
Merchant Banking and Finance
to become a commercial bank
(19-10-2007)
Sunrise bank starts
operations (11-10-2007)
Everest bank starts
mobile banking
(27-9-2007)
Nepal Bank begins
remittance service
(26-9-2007)
Excel
Development Bank issues
shares (20-8-2007)
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)
Nbbil
bank provides dividend
(15-7-2007)
Total deposits at the
banking sector grew by
over 10 percent
(24-6-2007)
ADBL
reduces non performing
loans (8-6-2007)
banks move to rural
areas (3-6-2007)
Salaries of Nepali
bank's CEOs (5-5-2007)
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Easy
money and Nepali loans
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