Dr Sharma assures competent chairman

Veteran economist and chairman of Citizens´ Bank International Shankar Sharma has assured investors and depositors of the bank that a competent chairman will replace him once he assumes the post of Nepal´s ambassador to the United States. "I assure all stakeholders of the bank, including depositors and investors, that a capable chairman, who will be appointed soon, will take the bank to a new height," said Dr Sharma, who was recently nominated as the ambassador to United States.
Speaking at a program organized at the bank´s headquarters to mark the inauguration of four branches of the bank on Monday, Dr Sharma said slow growth rate seen in the credit flow, while comparing with high inflation, is a matter of concern. He said the bank has been focused on promoting a high degree of corporate governance and producing high quality manpower that can contribute for the development of banking industry in Nepal.

Chief Executive Officer of the bank Rajan Singh Bandari announced that the bank was planning to distribute 10 percent cash dividend to its shareholders and added that the bank was able to generate an operating profit of Rs 184.5 million during the last fiscal year. Despite the growing competition in the bank sector, the bank supported by well-trained and dedicated manpower will continue to progress, Bhandari said. According to the bank, it collected a deposit of Rs 11.52 billion and invested Rs 8.21 billion by the end of the last fiscal year.
Source: Republica