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Financial institutions in
Nepal |
Mahalaxmi Finance Ltd
Birgunj Finance Ltd
Siddhartha Finance Ltd
Butawal Finance Ltd
Himchuli
Development Bank
Everest finance
Ime Financial
institution
Business Development
Finance Inst.
Nawa Durga Finance Co
Standard Finance Limited
Capital Merchant Banking
& Finance
Hama finance
Good deposit
schemes, 1 year fixed
7%, 3 year even 8%
National finance Co.
Annapurna finance
company
Ace finance company
Gorkha finance
Universal finance
Nawa Kantipur
Deposit and loan schemes |
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News item 30-4-2008 |
Five financial institutions
— Mahalaxmi Finance Ltd,
Birgunj Finance Ltd,
Siddhartha Finance Ltd,
Butawal Finance Ltd and
Himchuli
Development Bank —
have signed an accord
yesterday to merge and
upgrade to ‘A’ level
commercial bank. “All the
financial institutions are
planning to increase their
paid up capital to Rs 400
million each to make Rs 2
billion in total required
for the upgradation for the
commercial banks,” said
Ramesh Kumar Bhattarai,
coordinator of the Merger
committee. The proposed
‘United Bank of Nepal’ after
the merger, will have head
office in Kathmandu,
according to the Memorandum
of Understanding (MoU).
However, the companies that
have currently Rs 50 million
to 100 million paid up
capital have to increase to
Rs 400 million each to make
a total of Rs 2 billion
required for a commercial
bank. “We will hold special
AGM and propose 1:4 rights
shares,” informed Bhatta-rai,
without clarifying what will
happen if they cannot raise
paid up capital to almost
four to eight times.
Mahalaxmi Finance, National
Finance and Narayani Finance
have earlier declared a
merger for upgradation to a
Development bank.
Other finance
articles:
4
years Birgunj Finance
(1-10-2007)
foreign employment
insurance scheme
forwarded to Ministry of
Finance (26-8-2007)
Real estate is
interesting niche for
investment (29-6-2007)
5
years International
Money Express
(14-6-2007)
Imperial Finance to
issue shares
(6-2-2007)
Foreign aid increases
(3-2-2007)
IME gets permission for
foreign exchange
business (2-2-2007)
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Easy
money and Nepali finance
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