The number of commercial
banks will reach 32 as Nepal
Rastra Bank (NRB) has given
green signal to Sanima Bikas
Bank for its upgradation.
The board meeting of central
bank on Tuesday has decided
to issue Letter of Intent (LoI)
for the upgradation of
Sanima to Nepal’s 32nd
commercial bank.
Similarly, the meeting also
signaled Annapurna Finance
Company to upgrade into a
development bank. The
central bank has taken such
decision as per the request
applied by these two
institutions sometime two
years ago. Likewise, the
central bank has also
permitted Infrastructure
Development Bank and Swastik
Merchant Finance Company to
go for merger.