Citizens’ Bank opened 4 new branches

In an endeavor to provide extensive modern banking services to its customers, Citizens’ Bank International Monday opened four branches at Kalanki, Thaiti, Nayabazar and Maitidevi. With these branches, the bank claims to provide its services from 17 offices across the country.

Dr. Shankar Sharma, chairman of the bank, and former vice-president of National Planning Commission (NPC), inaugurated the four respective branches via one-line system amidst a function held at the Bank’s central office premises.

On the occasion, Sharma pointed out that the banks and financial institutions should incorporate the corporate governance indicator in a fair manner to render competitiveness and sustain good organization. “The central bank should be more responsible to enforce the corporate governance indicator to the increasing banking and financial organizations,” he added.

He said that the central bank should improve the independent audit system in order to operate the banks and financial institutions more effectively.

Rajan Singh Bhandari, Chief Executive Officer (CEO) of the bank, said that his bank was planning to distribute 10 per cent dividend from the bank’s profit it accumulated last fiscal year. “The process is in the final stage,” he said.

He informed that his bank had planned to expand its branches across the country. “We are planning to open 30 branches in every 14 zones in order to facilitate the customers with modern banking access,” he added.

According to the bank, it collected Rs. 11.52 billion as deposits and floated Rs.8.21 billion loans in the last fiscal year. In the same period the bank’s operating profit stood at Rs. 184.5 million. The bank said that over 46,000 customers were benefiting from its modern banking access across the country.
Source: Arthakoartha.com