Bank of Asia Nepal will provide 1:1 right shares to its shareholders to increase the paid up capital to Rs. 2 billion from its current capital of Rs.1 billion. Speaking at a function to inaugurate the 22nd branch of the bank at Birgunj on Wednesday, CEO of the bank Parshuram K. Chhetri said "the bank will increase its paid up capital to Rs. 2 billion as per the provision of NRB".The inauguration of new branch was done by Chariman of the bank, Trilok Chanda Agrawal. The bank aims to open five more branches across the nation within the current fiscal year. The bank which has celebrated its 2nd year of foundation few weeks before posted Rs. 61.510 million net profit and Rs. 94.826 million operating profit during the fiscal year 2008/09 (un-audited figure). Likewise, the bank holds Rs. 65.972 millions in its reserve &surplus account with deposits Rs. 8.875 billions and provided loans and advances of Rs. 7.635 billions.
Source:Jamb News Service
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