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Banks
in Nepal |
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financial institutions |
Kist Merchant Banking
and Finance
Everest finance
Ime Financial
institution
National finance Co.
Crystal Finance
Crystal Finance Ltd
GPO: 19390, Ktm, Bag
Durbar
Kathmandu, Nepal
Hama finance
Good deposit
schemes, 1 year fixed
7%, 3 year even 8%
Alpic everest finance
Central finance company
Nawa Durga Finance Co
Standard Finance Limited
Capital Merchant Banking
& Finance
Gorkha finance
Universal finance
Business Development
Finance Inst.
Nawa Kantipur
Deposit and loan schemes
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News item 13-10-2007 |
It seems banks are
flooding Nepal. Two
commercial banks; Bank of
Asia and Sunrise Bank,
started their operations
from today making the total
number of commercial banks
in operation at 23.
Similarly, two more
development banks; Country
Development Bank (CDB) based
in Banepa and Kasthamandap
Development Bank (KDB) based
in Kathmandu, also started
their operations from today.
Bharatmani Sharma Risal is
the founding chairman and
Uday Lal Raj is the managing
director (MD) of the CDB and
Samundra Kaji Shrestha,
Bishnu Sundar Rimal and
Mohan Bahadur Thapa are the
Board of Directors. The
authorised capital of
Country Development Bank is
Rs 200 million, while Rs 100
million is issued capital
and Rs 51 million is paid-up
capital. The bank aims to
float shares to the general
public of Rs 49 million.
“Due to
Nepal Rastra bank’s
(NRB) directive, those
financial institutions that
have already registered must
get operating licence within
the month of Ashwin or they
will be treated like the new
ones,” Bhishma Raj Chalise,
chief operating officer
(COO) of KDB says explaining
the reason of the sudden
flood of banks. Jagannath
Gyawali is the chairman and
Krishna Gyawali is the
director of KDB, where there
are 23 promoters. On one
hand, data from NRB shows
that only 20 per cent of the
populace have access to
banking services leaving the
vast majority out of the
banking reach. And on the
other hand, all the banks
though they claim of going
to rural areas are
urban-centric and promise to
provide modern banking
services. “There has been no
market expansion and the
banks are operating on very
thin-margin,” says one
banker adding that the size
of the market should rise
and the banks explore new
areas of investment. As the
market is not growing in
proportion to the number of
players in this field,
banking yield has also gone
down. The cut-throat
competition has also given
rise to unhealthy practise
like ‘stealing’ the
customers and staff. Both
the new commercial banks
have Rs 2 billion authorised
capital and Rs 1 billion
issued capital — 70 per cent
promoters and 30 per cent
public. T M Duggar group is
one of the promoters of
Sunrise Bank, while Shangai
group and Bishal group are
the major promoters of Bank
of Asia.
More
information about rise in
number of banks in Nepal
Other banking news and
articles:
Nabil
Bank Nepal gets
international rating
(26-2-2008)
Prime commercial bank
launches Prime gold
saving scheme
(18-2-2008)
Profit of Global Bank
(1-2-2008)
Job hopping in bank
sector of Nepal
(4-2-2008)
Neelgiri Development
Bank collected a deposit
of Rs 45.7 million
(21-1-2008)
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)
Excel Development Bank
issues shares
(20-8-2007)
Rastriya
Banijya Bank reports
profit (17-8-2007)
Nepal Stock Exchange
suspends trading of
Nepal Credit and
Commerce Bank
(30-1-2007)
Buddha on bank notes
(25-1-2007)
Rastriya
Banijya Bank
privatisation (23-1-2007)
agricultural development
bank loans (24-1-07)
recovery plan for bad
loans (1-1-07)
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Easy
money and Nepali banks
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