Diyalo Bikas Bank, a development bank, has appointed Ace Development Bank as its issue manager for the public issuance of its shares. Lok Raj Pant, the chairman of Diyalo Bank and Siddhanta Raj Pandey, chief executive of Ace Development Bank have signed an agreement to this extent.
"After the issuance of shares, the paid-up capital of the bank will stand at Rs 100 million," states a press release issued by the bank, which came into operation some 18 months ago.
So far, the bank has collected deposits of Rs 270 million and extended Rs 240 million in loans. The bank has set a target of generating a profit of five million rupees in the current fiscal year.
Source:
Myrepublica.com
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Thursday, June 4, 2009
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