Citizens Bank Intern-ational on Wednesday signed an agreement with the Nepal Stock Exchange (NEPSE) to have 10 million units of its shares listed on NEPSE at the price of Rs. 100 per share.
As per the agreement signed between Shanker Man Singh, managing director of NEPSE, and Ganesh Raj Pokharel, acting CEO of Citizens Bank, Rs. 1 billion worth of the bank's stock has been listed on NEPSE. With the entry of Citizens Bank, the number of commercial banks whose shares are traded on NEPSE has reached 21, and the total number of companies listed on the stock exchange has reached 158.
According to a press release issued by Citizens Bank, it has 71,820 shareholders including 70 promoter shareholders.
Source: ekantipur.com
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Saturday, June 6, 2009
NRB seizes NDB liquid assets
Nepal Rastra Bank (NRB) on Wednesday sent a letter to Nepal Development Bank (NDB) asking it to explain why it should not be liquidated.
Under clause 74 of the Banks and Financial Institutions Act, NRB must file a case to begin of liquidation of a financial institution whose damages are beyond repair. Before filing the case NRB must seek justification from the bank.
An NRB team led by deputy director Prakash Chandra Bhattarai went to NDB and seized all cash, cheques and securities.
NRB has not yet decided about the staff. NDB manager Purna Prasad Sharma said, "They said we could come to office tomorrow." Depositors gheraoed NDB, accusing it of cheating.
A board meeting of the central bank yesterday evening had decided to freeze all the transactions of the bank including its accounts in various financial institutions and sent it for liquidation.
Nepal's first development bank that started its operation in 1998 has a paid-up capital worth Rs Rs 320 million but its accumulated loss is more than double the paid up capital — at Rs 678.6 million by the end of mid-March. Its non-performing loan is also at almost 30 per cent.
The bank had also signed an agreement with Strategic Partners led by Deepak Narsingh Shrestha on December 4, 2007 for taking over the responsibility of managing the bank and injecting additional capital required. Strategic Partner nominee Sunanda Bahadur Shrestha was appointed CEO from December 8, 2007. But Shrestha and his group knocked on the NRB door after they were not given any decisive role and power even after injecting Rs 70 million in NDB.
"To increase the capital, the bank has issued rights shares. But board members themselves have not applied for rights shares," an NDB official said citing it as an instance of the board's bad intentions.
Nepal Stock Exchange (Nepse) has suspended the trading of NDB shares. Till yesterday, NDB shares were traded at Rs 126 per unit.
NRB's first-ever bold decision to push a financial institution into liquidation has pulled the development bank sub-group's index down by 5.06 points to 770.9 points. As a result, Nepse went down by 3.39 points to 699.62 points.
NRB had repeatedly warned NDB and declared it ‘problematic' in 2007. It had also issued a gamut of directives in a bid to revive NDB, but the bank led by Uttam Pun, at times, even threatened the central bank instead of improving its own corporate management and internal governance.
Depositors beware!
Depositors of NDB will not be able to withdraw their money after NRB's move. Public shareholders might also lose, contrary to popular belief that the financial institutions' share will not be in loss and that the central bank will rescue the financial institutions. "NRB has taken the decision to discourage malpractices in financial institutions, and depositors — both institutional and individual — should think twice before depositing money in any financial institution," said an NRB official. The bank has a total deposit of Rs 720 million as at mid-March 2009. Of the total deposit, the bank has not been able to return Rs 330 million worth of institutional deposits even after expiry of maturity date. The Employment Provident Fund (EPF) and Nepal Army´s Welfare Fund had deposited Rs 330 million and Rs 200 million, around 45 per cent and 27 per cent respectivley of the deposits.
Source:
THT
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Under clause 74 of the Banks and Financial Institutions Act, NRB must file a case to begin of liquidation of a financial institution whose damages are beyond repair. Before filing the case NRB must seek justification from the bank.
An NRB team led by deputy director Prakash Chandra Bhattarai went to NDB and seized all cash, cheques and securities.
NRB has not yet decided about the staff. NDB manager Purna Prasad Sharma said, "They said we could come to office tomorrow." Depositors gheraoed NDB, accusing it of cheating.
A board meeting of the central bank yesterday evening had decided to freeze all the transactions of the bank including its accounts in various financial institutions and sent it for liquidation.
Nepal's first development bank that started its operation in 1998 has a paid-up capital worth Rs Rs 320 million but its accumulated loss is more than double the paid up capital — at Rs 678.6 million by the end of mid-March. Its non-performing loan is also at almost 30 per cent.
The bank had also signed an agreement with Strategic Partners led by Deepak Narsingh Shrestha on December 4, 2007 for taking over the responsibility of managing the bank and injecting additional capital required. Strategic Partner nominee Sunanda Bahadur Shrestha was appointed CEO from December 8, 2007. But Shrestha and his group knocked on the NRB door after they were not given any decisive role and power even after injecting Rs 70 million in NDB.
"To increase the capital, the bank has issued rights shares. But board members themselves have not applied for rights shares," an NDB official said citing it as an instance of the board's bad intentions.
Nepal Stock Exchange (Nepse) has suspended the trading of NDB shares. Till yesterday, NDB shares were traded at Rs 126 per unit.
NRB's first-ever bold decision to push a financial institution into liquidation has pulled the development bank sub-group's index down by 5.06 points to 770.9 points. As a result, Nepse went down by 3.39 points to 699.62 points.
NRB had repeatedly warned NDB and declared it ‘problematic' in 2007. It had also issued a gamut of directives in a bid to revive NDB, but the bank led by Uttam Pun, at times, even threatened the central bank instead of improving its own corporate management and internal governance.
Depositors beware!
Depositors of NDB will not be able to withdraw their money after NRB's move. Public shareholders might also lose, contrary to popular belief that the financial institutions' share will not be in loss and that the central bank will rescue the financial institutions. "NRB has taken the decision to discourage malpractices in financial institutions, and depositors — both institutional and individual — should think twice before depositing money in any financial institution," said an NRB official. The bank has a total deposit of Rs 720 million as at mid-March 2009. Of the total deposit, the bank has not been able to return Rs 330 million worth of institutional deposits even after expiry of maturity date. The Employment Provident Fund (EPF) and Nepal Army´s Welfare Fund had deposited Rs 330 million and Rs 200 million, around 45 per cent and 27 per cent respectivley of the deposits.
Source:
THT
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NEPSE concludes its 27th AGM
Nepal Stock Exchange concluded its 27th annual general meeting on 5th June 2009 (2066 Jestha 22) with lots of promises and assurances. Nanda Kishore Mundara, chairman of Broker's association addressed following issues:
• Nepal Stock Exchange has to be privatized soon and the paid up capital of the company should be raised to 200 million so as to keep up the pace with the other emerging new stock exchanges.
• NESE should be automated and Central Depository System should be implemented,
• The numbers of brokers should be increased, • The prevailing rules should be taken to practice strictly.
Moreover, Arjan Raj Poudel, broker No. 13 stressed on the need of various aspects of NEPSE that has to be improved.
Meanwhile, Chairman of NEPSE Dr. Narayan Prasad Poudel said that the concept paper of NEPSE privatization has already been sent to the central bank and the discussions are going on. He also added that Kathmandu centered service of NEPSE will be extended very soon to Biratnagar and Nepalgunj. He also announced Mr. Yagya Raj Bhatta as the auditor of the exchange.
Source:
Jamb News Service
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• Nepal Stock Exchange has to be privatized soon and the paid up capital of the company should be raised to 200 million so as to keep up the pace with the other emerging new stock exchanges.
• NESE should be automated and Central Depository System should be implemented,
• The numbers of brokers should be increased, • The prevailing rules should be taken to practice strictly.
Moreover, Arjan Raj Poudel, broker No. 13 stressed on the need of various aspects of NEPSE that has to be improved.
Meanwhile, Chairman of NEPSE Dr. Narayan Prasad Poudel said that the concept paper of NEPSE privatization has already been sent to the central bank and the discussions are going on. He also added that Kathmandu centered service of NEPSE will be extended very soon to Biratnagar and Nepalgunj. He also announced Mr. Yagya Raj Bhatta as the auditor of the exchange.
Source:
Jamb News Service
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Money put on rights issue is safe: NRB Fate of initial share investment, deposits uncertain
Nepal Rastra Bank (NRB) Thursday said shareholders of the troubled Nepal Development Bank (NDB), who recently deposited money to subscribe NDB´s rights issues would get their money back. However, it failed to console investors and depositors about the fate of their ordinary share investments and deposits in the bank.
"The money put on rights shares is still with NIDC Capital Markets, the issue manager, and will be excluded from the liquidation process," NRB Executive Director Gopal Kafle said . He told myrepublica.com that the central bank has already instructed the issue manager to keep the money as it is.
This will safeguarded some Rs 80 million of NDB´s shareholders money.
NDB had announced rights issues in the ratio of 1:1 to ordinary shareholders after the central bank asked it to raise its capital base to improve its deteriorating financial health.
Irked investors who picketed the central bank Thursday charged the NRB with not protecting their interests. Mainly they blamed the central bank for giving a nod to the the rights issue even when it was well aware of its turbulent financial situation.
In defense, NRB Governor Deependra Bahadur Kshetry said the NRB had given its consent because the revival of the bank´s financial health relied on reinjection of capital.
In another dramatic act, the NDB management refused to receive the central bank´s letter, asking the management to justify why the NRB shouldn´t initiate the liquidation process by filing a case at the Appellate Court in Patan within 15 days. The NRB had faxed the letter and also sent its staff in person.
Following the management´s refusal to take the letter, the central bank sent a letter through a courier on Thursday.
"We will seek measures for further action if they continue to reject the letter," said Kshetry.
Kshetry also revealed that the central bank has decided to slap a penalty of Rs 200,000 on NDB Chairman Ambar Gurung and Rs 100,000 each on its board members Dr Kiran Joshi and Lawa Raj Joshi, for serving in similar positions in Nepal Cooperative Ltd--a subsidiary of NDB. Their act flouted the Nepal Bank and Financial Institution Act, 2063 (BAFIA). NRB has also sought clarification over the violation of the Act within 15 days.
Depositors of NDB also met Kshetry and other senior NRB officials on Thursday and requested the top NRB brass to protect their savings.
The victims also placed demands such as the immediate return of their deposits, and stern action against the bank´s promoters and defaulters who pushed the bank into its current state, and the freezing of all of assets of the promoters, among others.
In reply to their queries over the fate of their savings, Governor Kshetry said he would not be able to say anything until the liquidator gave its final assessment report.
So far, the NRB has taken control of Rs 50.2 million worth of NDB´s assets in Pokhara. It is still assessing the value of assets seized in Kathmandu. The NRB had decided to send the long-troubled NDB into liquidation on Tuesday, after its five-year-long efforts to revive the bank proved futile. The decision, the first of its kind in Nepal,sent shockwaves among shareholders and depositors. General people hold more than Rs 100 million worth of shares of the bank. The bank had deposits of more than Rs 720 million.
Source:
Myrepublica.com
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"The money put on rights shares is still with NIDC Capital Markets, the issue manager, and will be excluded from the liquidation process," NRB Executive Director Gopal Kafle said . He told myrepublica.com that the central bank has already instructed the issue manager to keep the money as it is.
This will safeguarded some Rs 80 million of NDB´s shareholders money.
NDB had announced rights issues in the ratio of 1:1 to ordinary shareholders after the central bank asked it to raise its capital base to improve its deteriorating financial health.
Irked investors who picketed the central bank Thursday charged the NRB with not protecting their interests. Mainly they blamed the central bank for giving a nod to the the rights issue even when it was well aware of its turbulent financial situation.
In defense, NRB Governor Deependra Bahadur Kshetry said the NRB had given its consent because the revival of the bank´s financial health relied on reinjection of capital.
In another dramatic act, the NDB management refused to receive the central bank´s letter, asking the management to justify why the NRB shouldn´t initiate the liquidation process by filing a case at the Appellate Court in Patan within 15 days. The NRB had faxed the letter and also sent its staff in person.
Following the management´s refusal to take the letter, the central bank sent a letter through a courier on Thursday.
"We will seek measures for further action if they continue to reject the letter," said Kshetry.
Kshetry also revealed that the central bank has decided to slap a penalty of Rs 200,000 on NDB Chairman Ambar Gurung and Rs 100,000 each on its board members Dr Kiran Joshi and Lawa Raj Joshi, for serving in similar positions in Nepal Cooperative Ltd--a subsidiary of NDB. Their act flouted the Nepal Bank and Financial Institution Act, 2063 (BAFIA). NRB has also sought clarification over the violation of the Act within 15 days.
Depositors of NDB also met Kshetry and other senior NRB officials on Thursday and requested the top NRB brass to protect their savings.
The victims also placed demands such as the immediate return of their deposits, and stern action against the bank´s promoters and defaulters who pushed the bank into its current state, and the freezing of all of assets of the promoters, among others.
In reply to their queries over the fate of their savings, Governor Kshetry said he would not be able to say anything until the liquidator gave its final assessment report.
So far, the NRB has taken control of Rs 50.2 million worth of NDB´s assets in Pokhara. It is still assessing the value of assets seized in Kathmandu. The NRB had decided to send the long-troubled NDB into liquidation on Tuesday, after its five-year-long efforts to revive the bank proved futile. The decision, the first of its kind in Nepal,sent shockwaves among shareholders and depositors. General people hold more than Rs 100 million worth of shares of the bank. The bank had deposits of more than Rs 720 million.
Source:
Myrepublica.com
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Sebon to give warning to NMB Bank
A meeting of the Securities Board of Nepal (Sebon) today decided to send a warning letter to NMB Bank to be careful in handling primary issues and other documentation work.
It may be recalled that while managing the primary isue of Sunrise Bank, NMB Bank had lost track of at least 47 application forms after the data entry. It was the issue manager for Sunrise Bank. However, it has recovered almost all the lost forms.Sunrise Bank's 37,50,000-unit shares worth Rs 375 million were floated from May 3 to 6 through NMB Bank. NMB Bank has admitted that the forms got lost due to carelessness.
"The applications were lost after data entry," said the head of the merchant banking section of NMB Bank, acknowledging that it was a human error. NMB has assured investors that the lost applications are already listed in the data bank and that all these will be included in share allocation.
Source:
THT
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It may be recalled that while managing the primary isue of Sunrise Bank, NMB Bank had lost track of at least 47 application forms after the data entry. It was the issue manager for Sunrise Bank. However, it has recovered almost all the lost forms.Sunrise Bank's 37,50,000-unit shares worth Rs 375 million were floated from May 3 to 6 through NMB Bank. NMB Bank has admitted that the forms got lost due to carelessness.
"The applications were lost after data entry," said the head of the merchant banking section of NMB Bank, acknowledging that it was a human error. NMB has assured investors that the lost applications are already listed in the data bank and that all these will be included in share allocation.
Source:
THT
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Friday, June 5, 2009
NRB points gun to NDB promoters
Nepal Rastra Bank (NRB) has sought clarification from three promoters of Nepal Development Bank (NDB) why they should not be penalised for involvement in the board of Nepal Cooperative although they are already in the NDB board.
NRB is contemplating to penalise Amar Gurung, the chairman of both NDB and Nepal Cooperative with a fine of Rs. 200,000 for providing false report about his involvement to the NRB, said Gopal Kafle, executive director of NRB.
Likewise, NRB has also sought to penalise two other board members Kiran Joshi and Lab Raj Joshi with a fine of Rs. 100,000 each for representing both institutions.
Meanwhile, depositors and share holders of Nepal Development Bank (NDB) staged a sit-in at Nepal Rastra Bank (NRB) on Thursday demanding withdrawl of their deposits and investments. Many NDB depositors and investors who gathered in front of NRB returned disappointed.
Among them was Binod Akauliya of Dhading who was worried about his sister-in-law 's deposit of Rs. 500,000 in NDB. However, they couldn't get assurance from the central bank that they would get all their money back.
NRB Governer Dipendra Bahadur Chhetri told them the central bank's decision was aimed at safeguarding depositors interest. “We haven't started the liquidation process yet,” Chhetri said,”If NDB's clarification fails to satisfy us, the central bank will initiate the process as per law.”
As NRB gears up for the liquidation process, more and more irregularities on the part of NDB's promoters are surfacing. It was found that its Chairman Amar Gurung happens to be the chairman of Nepal Cooperative also. NDB still has deposits of Rs. 90 million in the cooperative.
"Even we were not informed about his involvement in the cooperative as chairman," said Chetri at ameeting with depositors and shareholders of the bank on Thursday. The existing Bank and Financial Institution Act has barred directors of any bank from becoming director of other financial institutions.
The Act also bars any financial institution from investing in projects in which the bank's promoters are involved. It had given loans worth Rs. 10 million to Gorkha Hydropower project in which the bank has a share investment of Rs. 75.9 million, according to Kafle. "We had directed the bank to sell those shares and recover the loans but the bank's promoters didn't listen to us," Kafle said. In another case, the bank took control of the property of Holyland International School worth Rs. 140 million because of the school's failure to repay loans. But, the bank sold its property to the International Foundation of Health and Medical Science (IFHMS) at just Rs. 90 million in which Nepal Cooperative had invested. "The IFHMS has not paid a single rupee to the bank but the bank allowed it to own a certain plot of Holyland'," Kafle said. NRB had directed the bank to re-evaluate the the property sold to IFHMS.
Shareholders who had applied for right shares are demanding that at least their invested money be returned. Jaya Prakash Bhuju, one of the shareholder at NDB who had invested Rs. 80,000 in rights shares told the Post that he wanted his recent investment back. Both the NRB and SEBON are in confusion whether shareholders of the bank will be getting the money invested in the recent issuance of rights shares, which are yet to be allotted.
SEBON chairman Surbir Thapa said that they felt the money invested in the rights shares should be returned as it had not been allotted. "We should hold legal consultation before a decision on it," he said.
Source:
ekantipur.com
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NRB is contemplating to penalise Amar Gurung, the chairman of both NDB and Nepal Cooperative with a fine of Rs. 200,000 for providing false report about his involvement to the NRB, said Gopal Kafle, executive director of NRB.
Likewise, NRB has also sought to penalise two other board members Kiran Joshi and Lab Raj Joshi with a fine of Rs. 100,000 each for representing both institutions.
Meanwhile, depositors and share holders of Nepal Development Bank (NDB) staged a sit-in at Nepal Rastra Bank (NRB) on Thursday demanding withdrawl of their deposits and investments. Many NDB depositors and investors who gathered in front of NRB returned disappointed.
Among them was Binod Akauliya of Dhading who was worried about his sister-in-law 's deposit of Rs. 500,000 in NDB. However, they couldn't get assurance from the central bank that they would get all their money back.
NRB Governer Dipendra Bahadur Chhetri told them the central bank's decision was aimed at safeguarding depositors interest. “We haven't started the liquidation process yet,” Chhetri said,”If NDB's clarification fails to satisfy us, the central bank will initiate the process as per law.”
As NRB gears up for the liquidation process, more and more irregularities on the part of NDB's promoters are surfacing. It was found that its Chairman Amar Gurung happens to be the chairman of Nepal Cooperative also. NDB still has deposits of Rs. 90 million in the cooperative.
"Even we were not informed about his involvement in the cooperative as chairman," said Chetri at ameeting with depositors and shareholders of the bank on Thursday. The existing Bank and Financial Institution Act has barred directors of any bank from becoming director of other financial institutions.
The Act also bars any financial institution from investing in projects in which the bank's promoters are involved. It had given loans worth Rs. 10 million to Gorkha Hydropower project in which the bank has a share investment of Rs. 75.9 million, according to Kafle. "We had directed the bank to sell those shares and recover the loans but the bank's promoters didn't listen to us," Kafle said. In another case, the bank took control of the property of Holyland International School worth Rs. 140 million because of the school's failure to repay loans. But, the bank sold its property to the International Foundation of Health and Medical Science (IFHMS) at just Rs. 90 million in which Nepal Cooperative had invested. "The IFHMS has not paid a single rupee to the bank but the bank allowed it to own a certain plot of Holyland'," Kafle said. NRB had directed the bank to re-evaluate the the property sold to IFHMS.
Shareholders who had applied for right shares are demanding that at least their invested money be returned. Jaya Prakash Bhuju, one of the shareholder at NDB who had invested Rs. 80,000 in rights shares told the Post that he wanted his recent investment back. Both the NRB and SEBON are in confusion whether shareholders of the bank will be getting the money invested in the recent issuance of rights shares, which are yet to be allotted.
SEBON chairman Surbir Thapa said that they felt the money invested in the rights shares should be returned as it had not been allotted. "We should hold legal consultation before a decision on it," he said.
Source:
ekantipur.com
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ICC-Nepal to participate the 6th World Chamers Congress
International Chamber of Commerce-Nepal (ICC-Nepal) treasurer Chandra Dhakal is participating in the 6th World Chambers Congress at Malaysia, which started from 3-5 June, 2009.
A press statement of ICC-Nepal said that the 6th World Chambers Congress is a forum for a huge meeting of the world business entrepreneurs, which comes in the interval of every two years.
Chambers Leaders from various Countries exchange their experiences; build network and address the problems seen in their business communities at this forum.
The meeting is organized by ICC World Chamber Federation (WCF). Over 14,000 chambers from across the world participate in this congress.
Mr. Dhakal said that the World Chambers Congress is extensively discussing the issues of international property, women and business, good governance, social responsibility, public private sector, customer service, chambers and governments working together, ICC arbitration, certification of origin among others.
Source:
Jambnews Service
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A press statement of ICC-Nepal said that the 6th World Chambers Congress is a forum for a huge meeting of the world business entrepreneurs, which comes in the interval of every two years.
Chambers Leaders from various Countries exchange their experiences; build network and address the problems seen in their business communities at this forum.
The meeting is organized by ICC World Chamber Federation (WCF). Over 14,000 chambers from across the world participate in this congress.
Mr. Dhakal said that the World Chambers Congress is extensively discussing the issues of international property, women and business, good governance, social responsibility, public private sector, customer service, chambers and governments working together, ICC arbitration, certification of origin among others.
Source:
Jambnews Service
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Right share of Prudential
Prudential Finance Company Ltd. has decided to provide 1:2 right shares to its share holders. The decision was made at the 5th Annual General Meeting of the company on Thursday held at Kathmandu.
The company has made a deposit of Rs. 490 million and credit/lending of Rs. 580 million in this fiscal year. Formerly named as, Prudential Merchant Banking and Finance Ltd., with the corporate office at Kathmandu, the 58 finance company of Nepal has the authorized capital of Rs. 200 million.
Source:
Jambnews Service
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The company has made a deposit of Rs. 490 million and credit/lending of Rs. 580 million in this fiscal year. Formerly named as, Prudential Merchant Banking and Finance Ltd., with the corporate office at Kathmandu, the 58 finance company of Nepal has the authorized capital of Rs. 200 million.
Source:
Jambnews Service
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Issue Managers warned by SEBON
The Security Board of Nepal (SEBON) has warned and questioned the NMB Bank Ltd. for the negligence and the mishandling of the forms of the shares of the Sunrise Bank Ltd. during its IPO made on the first week of the May, 2009. The warning came after the meeting of the SEBON on Thursday.
Similarly the SEBON also decided to warn the Issue manager of the Prime Bank – the Citizen Investment Trust (CIT) for the printing and distribution of the forms of same numbers.
The SEBON had formed a team under the leadership of Mr. Babu Ram Joshi to investigate the issue, after the disclosure of 47 registered forms of Sunrise IPO found as garbage in the market before the allotment of the shares to the general public. Another such team has been formed to investigate the Prime Share Form issue, said the SEBON.
Both of the issues had questioned the allotment procedure of the IPO and on the credibility of the Issue Managers and had created incredulity among the general public. The Sunrise Bank had floated shares worth Rs. 375 million and the Prime Bank of Rs. 300 million in the primary market.
Source:
Jambnews Service
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Similarly the SEBON also decided to warn the Issue manager of the Prime Bank – the Citizen Investment Trust (CIT) for the printing and distribution of the forms of same numbers.
The SEBON had formed a team under the leadership of Mr. Babu Ram Joshi to investigate the issue, after the disclosure of 47 registered forms of Sunrise IPO found as garbage in the market before the allotment of the shares to the general public. Another such team has been formed to investigate the Prime Share Form issue, said the SEBON.
Both of the issues had questioned the allotment procedure of the IPO and on the credibility of the Issue Managers and had created incredulity among the general public. The Sunrise Bank had floated shares worth Rs. 375 million and the Prime Bank of Rs. 300 million in the primary market.
Source:
Jambnews Service
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NRB to take action against the NDB chief
The Nepal Rastra Bank (NRB) had proceeded for the legal action against the Chairman and the board members of the Nepal Development Bank.
Addressing the Thursday press meet, the NRB Governor Mr. Dipendra Bahadur Kshetry said that Amar Gurung, Chairman of the NDB and other board members will be charged against their act of bringing the bank to this state. The NDB chairman and other board members were found guilty and involved in the co-operative business. As per the NRB regulation, single person cannot be engaged in different institutions of similar nature.
The NDB had also rejected to accept the NRB paper of questioning on the current financial situation of the bank and the appropriate reason of not liquidating the bank. Mr. Governor further denied the NRB decision of approving the NDB to issue right share, despite its degrading situation, but the Deputy Governor Mr. Krishna Bahadur Manandhar said that the decision was passed by the then NRB working committee in the view that the NDB would improve after the issuance of the right share.
The Governor however accepted that the NRB failed in the case of NDB to protect and maintain its financial health. As for the deposits of the general depositors, the court will appoint the liquidator and decide the matter later.
However the general depositors will be getting their deposits back as per the latest report, the total deposits at the NDB is around 80 million and thanks to the NRB regulation to maintain the adequate balance in the account of NRB. The NDB is able to refund the deposits of the depositors, with the Accounts, NDB is maintaining with the NRB and other financial institutions, said the NRB.
Source:
Jambnews Service
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Addressing the Thursday press meet, the NRB Governor Mr. Dipendra Bahadur Kshetry said that Amar Gurung, Chairman of the NDB and other board members will be charged against their act of bringing the bank to this state. The NDB chairman and other board members were found guilty and involved in the co-operative business. As per the NRB regulation, single person cannot be engaged in different institutions of similar nature.
The NDB had also rejected to accept the NRB paper of questioning on the current financial situation of the bank and the appropriate reason of not liquidating the bank. Mr. Governor further denied the NRB decision of approving the NDB to issue right share, despite its degrading situation, but the Deputy Governor Mr. Krishna Bahadur Manandhar said that the decision was passed by the then NRB working committee in the view that the NDB would improve after the issuance of the right share.
The Governor however accepted that the NRB failed in the case of NDB to protect and maintain its financial health. As for the deposits of the general depositors, the court will appoint the liquidator and decide the matter later.
However the general depositors will be getting their deposits back as per the latest report, the total deposits at the NDB is around 80 million and thanks to the NRB regulation to maintain the adequate balance in the account of NRB. The NDB is able to refund the deposits of the depositors, with the Accounts, NDB is maintaining with the NRB and other financial institutions, said the NRB.
Source:
Jambnews Service
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Reliable Changed Its name
Reliable Investment Bittiya Sanstha Ltd. has changed its name to Reliable Finance Ltd.
Source:
Jambnews Service
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Source:
Jambnews Service
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Shares on Auction: NSLMB
Nepal Shree Lanka Mer. Bank Ltd. is selling 287745 shares on auction. These are the unsubscribed shares after the right share issue.
Source:
Jambnews Service
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Source:
Jambnews Service
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Shares on Auction: NSLMB
Nepal Shree Lanka Merchant Bank Ltd. is selling the shares of Nepal Bangladesh Bank Ltd., Nepal Credit & Com. Bank Ltd. and National Hydro Power Co. Ltd it owned.
Source:
Jambnews Service
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Source:
Jambnews Service
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Registrar To Share Replaced: Citizens
Citizens Bank Internationl Ltd. has appointed Elite Capital Ltd. as its registrar to share replacing Ace Development Bank Ltd.
Source:
Jambnews Service
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Source:
Jambnews Service
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Right Share Issue: BBBL
Bhrikuti Vikash Bank Ltd. is issuing 1:2 right share from today, 5th June 2009 (2066 Jestha 22).
Source:
Jambnews Service
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Source:
Jambnews Service
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Nepse Down by 7.78 pc
The Nepse Index, last week showed a slight decline. The transaction was down by 4 percent and the Index by 7.78 pc. The Nepse Index closed at 661.96 point last week.
The sensitive index was down by 1.80 points at 177.73 point. Similarly the Float Index was down by 0.53 points. “A” grade companies alone contributed 67.49 pc in the total transaction worth Rs. 183 million.
Similarly, last week, 10 million shares of Global Bank, 2 million shares of Pashupati Bikas Bank, 825 thousand shares of Reliable Investment Bittiya Sanstha, 500 thousand shares of Shikhar Bittiya Sanstha, were listed in the Stock Exchange. The transaction of new shares can be traded only after 7 days of listing.
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The sensitive index was down by 1.80 points at 177.73 point. Similarly the Float Index was down by 0.53 points. “A” grade companies alone contributed 67.49 pc in the total transaction worth Rs. 183 million.
Similarly, last week, 10 million shares of Global Bank, 2 million shares of Pashupati Bikas Bank, 825 thousand shares of Reliable Investment Bittiya Sanstha, 500 thousand shares of Shikhar Bittiya Sanstha, were listed in the Stock Exchange. The transaction of new shares can be traded only after 7 days of listing.
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Thursday, June 4, 2009
CEDBL's 4th branch at Fiddim
Clean Energy Development Bank (CEDBL) that commenced its commercial operation from September 2006 has opened its fourth branch at Fiddim bazaar (Ward no: 1) of Panchthar. CEDBL with 320 million paid up capital have rest of the three branches in Durbarmarg (Kathmandu), Birtamode (Jhapa) and Gorkha municipality-3(Gorkha). The Company has earned Rs. 11.388 million in the first nine month of this current fiscal year (2065/066) which was Rs. 3.546 million in corresponding previous year for the same period.
Source:
Jamb News Service
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Source:
Jamb News Service
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NRB move hits depositors' panic button
Worried depositors and shareholders of Nepal Development Bank (NDB) picketed the central office of the bank at Kamaladi on Wednesday following the central bank decion on Tuesday to initiate NDB's liquidation process.
Angry depositors chanted slogans against the bank promoters and sought legal action against them. The protesters were equally critical of Nepal Rastra Bank (NRB) and Security Board of Nepal(SEBON) that had allowed NDB to issue right shares few months ago. NRB board's decision to start NDB's liquidation has left depositors and investors worried abouttheir money, their primary concern being whether they would be able to retrieve the deposits from the bank.
As per Nepal Rastra Bank Act 2002, the central bank has sent a letter to the board of NDB demanding an explanation on why its liquidation process should not be initiated since the bank's financial condition is already vulnerable.
If the NDB reply fails to satisfy the central bank, it can start the liquidation process by applying to the Appellate Court.
The formal process starts after appellate court gives order to initiate liquidation, according to corporate lawyer Gandhi Pandit. "Then onwards, the process goes according to the insolvency act," Pandit said. For liquidation, the CentralBank has to appoint a liquidator,who in turn will sell off the bank assets after a thorough evaluation.
The money received from selling is used to pay back the depositors and creditors of the bank. Share holders' turn will come at the end.
NDB has Rs. 750 million in deposit of general public and institutional depositors. But there is less possibility that depositors and share holders receiving the money they have invested on it. Advocate Pandit said, "Depositors may not get their full money as money is divided as per insolvency act."NRB on Wednesday closed all accounts of the NDB and also the transaction of Nepal Sahakari. "We've found NDB's investment on Nepal Sahakari and Nepal Sahakari's investmentof NDB," Gopal Kafle,executive director of NRB's Supervision Department said.
"We've closed it as there is possibility of withdrawing money."The NDB episode has taught the lesson to the depositors and the shareholders that they have to be aware while depositing or buying shares of financial institutions. "One has to be careful while depositing or investing", said Kafle. "It also has given message that the bank will collapse if properly not handled."
Source:
Ekantipur.com
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Angry depositors chanted slogans against the bank promoters and sought legal action against them. The protesters were equally critical of Nepal Rastra Bank (NRB) and Security Board of Nepal(SEBON) that had allowed NDB to issue right shares few months ago. NRB board's decision to start NDB's liquidation has left depositors and investors worried abouttheir money, their primary concern being whether they would be able to retrieve the deposits from the bank.
As per Nepal Rastra Bank Act 2002, the central bank has sent a letter to the board of NDB demanding an explanation on why its liquidation process should not be initiated since the bank's financial condition is already vulnerable.
If the NDB reply fails to satisfy the central bank, it can start the liquidation process by applying to the Appellate Court.
The formal process starts after appellate court gives order to initiate liquidation, according to corporate lawyer Gandhi Pandit. "Then onwards, the process goes according to the insolvency act," Pandit said. For liquidation, the CentralBank has to appoint a liquidator,who in turn will sell off the bank assets after a thorough evaluation.
The money received from selling is used to pay back the depositors and creditors of the bank. Share holders' turn will come at the end.
NDB has Rs. 750 million in deposit of general public and institutional depositors. But there is less possibility that depositors and share holders receiving the money they have invested on it. Advocate Pandit said, "Depositors may not get their full money as money is divided as per insolvency act."NRB on Wednesday closed all accounts of the NDB and also the transaction of Nepal Sahakari. "We've found NDB's investment on Nepal Sahakari and Nepal Sahakari's investmentof NDB," Gopal Kafle,executive director of NRB's Supervision Department said.
"We've closed it as there is possibility of withdrawing money."The NDB episode has taught the lesson to the depositors and the shareholders that they have to be aware while depositing or buying shares of financial institutions. "One has to be careful while depositing or investing", said Kafle. "It also has given message that the bank will collapse if properly not handled."
Source:
Ekantipur.com
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NRB seizes NDB liquid assets
Nepal Rastra Bank (NRB) on Wednesday sent a letter to Nepal Development Bank (NDB) asking it to explain why it should not be liquidated.
Under clause 74 of the Banks and Financial Institutions Act, NRB must file a case to begin of liquidation of a financial institution whose damages are beyond repair. Before filing the case NRB must seek justification from the bank.
An NRB team led by deputy director Prakash Chandra Bhattarai went to NDB and seized all cash, cheques and securities.
NRB has not yet decided about the staff. NDB manager Purna Prasad Sharma said, "They said we could come to office tomorrow." Depositors gheraoed NDB, accusing it of cheating.
A board meeting of the central bank yesterday evening had decided to freeze all the transactions of the bank including its accounts in various financial institutions and sent it for liquidation.
Nepal's first development bank that started its operation in 1998 has a paid-up capital worth Rs Rs 320 million but its accumulated loss is more than double the paid up capital — at Rs 678.6 million by the end of mid-March. Its non-performing loan is also at almost 30 per cent.
The bank had also signed an agreement with Strategic Partners led by Deepak Narsingh Shrestha on December 4, 2007 for taking over the responsibility of managing the bank and injecting additional capital required. Strategic Partner nominee Sunanda Bahadur Shrestha was appointed CEO from December 8, 2007. But Shrestha and his group knocked on the NRB door after they were not given any decisive role and power even after injecting Rs 70 million in NDB.
"To increase the capital, the bank has issued rights shares. But board members themselves have not applied for rights shares," an NDB official said citing it as an instance of the board's bad intentions.
Nepal Stock Exchange (Nepse) has suspended the trading of NDB shares. Till yesterday, NDB shares were traded at Rs 126 per unit.
NRB's first-ever bold decision to push a financial institution into liquidation has pulled the development bank sub-group's index down by 5.06 points to 770.9 points. As a result, Nepse went down by 3.39 points to 699.62 points.
NRB had repeatedly warned NDB and declared it ‘problematic' in 2007. It had also issued a gamut of directives in a bid to revive NDB, but the bank led by Uttam Pun, at times, even threatened the central bank instead of improving its own corporate management and internal governance.
Depositors beware!
Depositors of NDB will not be able to withdraw their money after NRB's move. Public shareholders might also lose, contrary to popular belief that the financial institutions' share will not be in loss and that the central bank will rescue the financial institutions. "NRB has taken the decision to discourage malpractices in financial institutions, and depositors — both institutional and individual — should think twice before depositing money in any financial institution," said an NRB official. The bank has a total deposit of Rs 720 million as at mid-March 2009. Of the total deposit, the bank has not been able to return Rs 330 million worth of institutional deposits even after expiry of maturity date. The Employment Provident Fund (EPF) and Nepal Army´s Welfare Fund had deposited Rs 330 million and Rs 200 million, around 45 per cent and 27 per cent respectivley of the deposits.
Source:
THT
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Under clause 74 of the Banks and Financial Institutions Act, NRB must file a case to begin of liquidation of a financial institution whose damages are beyond repair. Before filing the case NRB must seek justification from the bank.
An NRB team led by deputy director Prakash Chandra Bhattarai went to NDB and seized all cash, cheques and securities.
NRB has not yet decided about the staff. NDB manager Purna Prasad Sharma said, "They said we could come to office tomorrow." Depositors gheraoed NDB, accusing it of cheating.
A board meeting of the central bank yesterday evening had decided to freeze all the transactions of the bank including its accounts in various financial institutions and sent it for liquidation.
Nepal's first development bank that started its operation in 1998 has a paid-up capital worth Rs Rs 320 million but its accumulated loss is more than double the paid up capital — at Rs 678.6 million by the end of mid-March. Its non-performing loan is also at almost 30 per cent.
The bank had also signed an agreement with Strategic Partners led by Deepak Narsingh Shrestha on December 4, 2007 for taking over the responsibility of managing the bank and injecting additional capital required. Strategic Partner nominee Sunanda Bahadur Shrestha was appointed CEO from December 8, 2007. But Shrestha and his group knocked on the NRB door after they were not given any decisive role and power even after injecting Rs 70 million in NDB.
"To increase the capital, the bank has issued rights shares. But board members themselves have not applied for rights shares," an NDB official said citing it as an instance of the board's bad intentions.
Nepal Stock Exchange (Nepse) has suspended the trading of NDB shares. Till yesterday, NDB shares were traded at Rs 126 per unit.
NRB's first-ever bold decision to push a financial institution into liquidation has pulled the development bank sub-group's index down by 5.06 points to 770.9 points. As a result, Nepse went down by 3.39 points to 699.62 points.
NRB had repeatedly warned NDB and declared it ‘problematic' in 2007. It had also issued a gamut of directives in a bid to revive NDB, but the bank led by Uttam Pun, at times, even threatened the central bank instead of improving its own corporate management and internal governance.
Depositors beware!
Depositors of NDB will not be able to withdraw their money after NRB's move. Public shareholders might also lose, contrary to popular belief that the financial institutions' share will not be in loss and that the central bank will rescue the financial institutions. "NRB has taken the decision to discourage malpractices in financial institutions, and depositors — both institutional and individual — should think twice before depositing money in any financial institution," said an NRB official. The bank has a total deposit of Rs 720 million as at mid-March 2009. Of the total deposit, the bank has not been able to return Rs 330 million worth of institutional deposits even after expiry of maturity date. The Employment Provident Fund (EPF) and Nepal Army´s Welfare Fund had deposited Rs 330 million and Rs 200 million, around 45 per cent and 27 per cent respectivley of the deposits.
Source:
THT
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Diyalo Bikas Bank appoints issue manager
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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"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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Registrar To Share Appointed
Bank Of Asia has appointed Civil Capital Market Ltd. as its registrar to share.
Source:
Jambnews Service
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Source:
Jambnews Service
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Bonus Share Certificate Distribution: KBL
Kumari Bank Ltd. is distributing its bonus share certificate from 7th June 2009 (2066 Jestha 24).
Source
Jambnews.com
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Source
Jambnews.com
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Right Share Issue: EFL
Everest Finance Ltd. is issuing 1:1 right shares from 23rd June 2009 to 27th July 2009 (2066 Ashad 9 to 2066 Shrawan 12). For this purpose it is having its book closure on 10th June 2009 (2066 Jestha 27).
Source
Jambnews.com
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Source
Jambnews.com
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Right Share Issue: PFLBS
Patan Finance Ltd. is issuing 1:1 right shares from 22nd June 2009 to 26th July 2009 (2066 Ashad 8 to 2066 Shrawan 11). For this purpose it is having its book closure on 5th June 2009 (2066 Jestha 22).
Source:
Jambnews.com
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Source:
Jambnews.com
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Company Analysis: SDBL
Siddhartha Development Bank Ltd. has published its quarterly company analysis.
Source
Jambnews.com
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Source
Jambnews.com
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General Share Enlistment Notice: BOA
Nepal Stock Exchange Ltd. has enlisted 10000000 general shares of Bank Of Asia Nepal Ltd. The enlistment agreement was carried out on 3rd June 2009 (2066 Jestha 20).
Source:
Jambnews.com
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Source:
Jambnews.com
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General Share Enlistment Notice: Citizens
Nepal Stock Exchange Ltd. has enlisted 10000000 general shares of Citizens Bank International Ltd. The enlistment agreement was carried out on 3rd June 2009 (2066 Jestha 20).
Source
Jambnews.com
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Source
Jambnews.com
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Right Share Certificate Distribution: NSLMB
Nepal Shree Lanka Merchant Bank Ltd. is distributing its right share certificate from 5th June 2009 (2066 Jestha 22).
Jambnews.com
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Jambnews.com
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Wednesday, June 3, 2009
Today's Share Price (As of 2009-06-03)
 |
| S.No. | Traded Companies | No.of Transaction | Max. Price | Min. Price | Closing Price | Total Share | Amount | Previous Closing | Difference Rs. |
| 1 | Annapurna Bikash Bank Limited | 11 | 490 | 476 | 480 | 1,760 | 845,055 | 490 | -10 |
| 2 | Ace Development Bank Limited | 7 | 622 | 598 | 598 | 650 | 391,300 | 610 | -12 |
| 3 | Alpic Everest Finance Company Limited | 1 | 490 | 490 | 490 | 19 | 9,310 | 500 | -10 |
| 4 | Annapurna Finance Company Limited | 2 | 930 | 915 | 930 | 220 | 201,600 | 905 | 25 |
| 5 | Business Development Bank Ltd. | 1 | 635 | 635 | 635 | 200 | 127,000 | 645 | -10 |
| 6 | Biratlaxmi Bikash Bank Limited | 2 | 720 | 720 | 720 | 200 | 144,000 | 721 | -1 |
| 7 | Bank of Kathmandu | 18 | 1,540 | 1,525 | 1,535 | 1,690 | 2,585,794 | 1,535 | 0 |
| 8 | Chhimek Vikash Bank Ltd. | 2 | 316 | 310 | 316 | 642 | 200,040 | 304 | 12 |
| 9 | Clean Energy Development Bank Limited | 99 | 890 | 807 | 860 | 4,150 | 3,454,630 | 888 | -28 |
| 10 | Chilime Hydro power Co. | 9 | 1,175 | 1,150 | 1,175 | 1,700 | 1,974,600 | 1,170 | 5 |
| 11 | Capital Mer. Bamk & Fin | 2 | 676 | 675 | 675 | 320 | 216,120 | 686 | -11 |
| 12 | Cosmic Mer.Bank & Fin. | 1 | 520 | 520 | 520 | 50 | 26,000 | 510 | 10 |
| 13 | Capital Merchant Banking & Finance Limited Promotor Share | 1 | 204 | 204 | 204 | 35,625 | 7,267,500 | 204 | 0 |
| 14 | DCBL Bank Ltd. | 3 | 424 | 421 | 422 | 234 | 98,847 | 432 | -10 |
| 15 | Everest Bank Ltd | 2 | 2,300 | 2,259 | 2,300 | 66 | 149,668 | 2,305 | -5 |
| 16 | Everest Bank Limited Convertible Preference | 3 | 950 | 950 | 950 | 60 | 57,000 | 950 | 0 |
| 17 | Fewa Finance Co. Ltd. Promoter Share | 33 | 235 | 235 | 235 | 41,280 | 9,700,800 | 235 | 0 |
| 18 | Global Bank Limited | 32 | 599 | 564 | 564 | 1,470 | 852,150 | 595 | -31 |
| 19 | Gandaki Bikas Bank Limited | 1 | 560 | 560 | 560 | 140 | 78,400 | 550 | 10 |
| 20 | Gorkha Finance Ltd. | 1 | 306 | 306 | 306 | 88 | 26,928 | 302 | 4 |
| 21 | Guheyshwori Mer. Bank. Fin | 2 | 775 | 770 | 770 | 1,160 | 893,250 | 790 | -20 |
| 22 | Himalayan Bank Ltd. | 3 | 1,705 | 1,690 | 1,690 | 641 | 1,085,510 | 1,703 | -13 |
| 23 | ICFC Bittya Sanstha Ltd. | 4 | 495 | 486 | 490 | 588 | 289,260 | 486 | 4 |
| 24 | Infrastructure Development Bank Limited | 4 | 550 | 540 | 550 | 40 | 21,700 | 550 | 0 |
| 25 | International Leasing & Fin. Co. | 9 | 644 | 620 | 644 | 604 | 376,816 | 629 | 15 |
| 26 | IME Financial Institution | 13 | 960 | 925 | 941 | 4,360 | 4,158,960 | 945 | -4 |
| 27 | Janaki Finance Ltd. | 1 | 471 | 471 | 471 | 2,000 | 942,000 | 471 | 0 |
| 28 | Kaski Finance Limited | 12 | 912 | 880 | 880 | 190 | 168,670 | 912 | -32 |
| 29 | Kumari Bank Ltd | 4 | 655 | 654 | 655 | 328 | 214,642 | 667 | -12 |
| 30 | KIST Bank Limited | 7 | 397 | 390 | 397 | 775 | 306,400 | 390 | 7 |
| 31 | Lord Buddha Financial Institutional Limited | 14 | 450 | 440 | 440 | 210 | 93,700 | 450 | -10 |
| 32 | Life Insurance Co. Nepal | 1 | 711 | 711 | 711 | 10 | 7,110 | 725 | -14 |
| 33 | Lumbini Bank Ltd. | 9 | 440 | 425 | 425 | 844 | 361,044 | 440 | -15 |
| 34 | Machhachapuchhre Bank Ltd | 7 | 470 | 456 | 465 | 701 | 324,703 | 470 | -5 |
| 35 | Malika Bikash Bank Limited | 7 | 1,248 | 1,171 | 1,224 | 160 | 192,640 | 1,187 | 37 |
| 36 | Merchant Finance Company Limited | 1 | 312 | 312 | 312 | 20 | 6,240 | 306 | 6 |
| 37 | Nabil Bank Ltd. | 10 | 4,314 | 4,200 | 4,314 | 638 | 2,705,493 | 4,223 | 91 |
| 38 | Nepal Bangladesh Bank Ltd. | 10 | 297 | 289 | 290 | 1,520 | 445,060 | 300 | -10 |
| 39 | Nepal Credit & Com. Bank | 18 | 312 | 303 | 307 | 4,660 | 1,424,700 | 300 | 7 |
| 40 | Nepal Express Finance Limited | 31 | 313 | 313 | 313 | 992 | 310,496 | 307 | 6 |
| 41 | National Hydro Power Co. | 1 | 105 | 105 | 105 | 1,000 | 105,000 | 107 | -2 |
| 42 | Nepal Investment Bank Ltd. | 6 | 1,300 | 1,290 | 1,297 | 771 | 997,049 | 1,300 | -3 |
| 43 | Nepal Industrial & Co.Bank | 17 | 1,001 | 977 | 990 | 2,793 | 2,760,885 | 1,000 | -10 |
| 44 | NMB Bank Ltd. | 5 | 491 | 467 | 467 | 810 | 384,090 | 482 | -15 |
| 45 | Nepal Share Markets Ltd. | 23 | 1,000 | 986 | 990 | 1,849 | 1,836,228 | 1,000 | -10 |
| 46 | Nepal Doorsanchar Company Limited | 11 | 570 | 555 | 555 | 1,790 | 1,007,050 | 570 | -15 |
| 47 | Paschimanchal Bikash Bank Ltd. Promoter Share | 1 | 368 | 368 | 368 | 3,000 | 1,104,000 | 368 | 0 |
| 48 | Patan Finance Ltd. | 4 | 303 | 300 | 303 | 500 | 150,800 | 299 | 4 |
| 49 | Patan Finance Limited Promoter Share | 5 | 130 | 130 | 130 | 6,000 | 780,000 | 130 | 0 |
| 50 | Prabhu Finance Company Limited | 853 | 886 | 811 | 870 | 15,570 | 13,217,670 | 857 | 13 |
| 51 | Pashupati Development Bank Limited | 25 | 530 | 515 | 515 | 390 | 201,450 | 535 | -20 |
| 52 | Reliable Investment Bittiya Sanstha Limited | 20 | 700 | 686 | 690 | 560 | 386,420 | 700 | -10 |
| 53 | Sanima Vikash Bank Ltd. | 3 | 647 | 635 | 645 | 174 | 112,090 | 635 | 10 |
| 54 | Nepal SBI Bank Limited | 11 | 1,725 | 1,701 | 1,707 | 797 | 1,361,992 | 1,751 | -44 |
| 55 | Siddhartha Bank Limited | 15 | 975 | 935 | 935 | 1,695 | 1,620,451 | 972 | -37 |
| 56 | Shikhar Bittiya Sanstha Limited | 4 | 307 | 296 | 307 | 70 | 21,090 | 291 | 16 |
| 57 | Standard Chartered Bank Ltd. | 20 | 5,710 | 5,586 | 5,710 | 2,645 | 14,850,410 | 5,586 | 124 |
| 58 | Siddhartha Development Bank Limited | 5 | 310 | 305 | 310 | 330 | 101,750 | 308 | 2 |
| 59 | Shree Investment Finance Co. Ltd | 2 | 820 | 819 | 820 | 114 | 93,386 | 823 | -3 |
| 60 | Siddhartha Insurance Limited | 26 | 189 | 181 | 189 | 610 | 112,360 | 178 | 11 |
| 61 | Sagarmatha Merchant Banking & Finance Limited | 18 | 700 | 680 | 700 | 510 | 354,590 | 690 | 10 |
| 62 | Standard Finance Ltd. | 8 | 384 | 358 | 358 | 816 | 301,133 | 390 | -32 |
| 63 | Subhechha Bikas Bank Limited | 2 | 708 | 708 | 708 | 40 | 28,320 | 720 | -12 |
| 64 | Triveni Bikas Bank Limited | 9 | 612 | 595 | 612 | 220 | 132,140 | 606 | 6 |
| Total Traded Amount Rs.: | 84,755,490 |
| Total Traded Shares: | 154,059 |
| Total Transactions: | 1,492 |
Source: nepalstock.com
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Bank robbed at Gaur
A group of five unidentified armed looters have robbed the Rajshree Saving and Cooperative Bank Ltd. on Tuesday. The armed group has taken Rs. 539,494 said the bank source.
The bank is just at the side of the Gaur branch of the Rastriya Banijya Bank (RBB) which is guard by the team of Armed Police Force and Nepal Police. There are also offices of the security force not less than 500 meters from the bank.
As per the Manager of the bank, five armed robbers taking the bank’s staffs under the custody with guns at their head, looted the bank and took away the cash.
Source: arthakoartha.com
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The bank is just at the side of the Gaur branch of the Rastriya Banijya Bank (RBB) which is guard by the team of Armed Police Force and Nepal Police. There are also offices of the security force not less than 500 meters from the bank.
As per the Manager of the bank, five armed robbers taking the bank’s staffs under the custody with guns at their head, looted the bank and took away the cash.
Source: arthakoartha.com
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SBI increased its investment at Nepal SBI Bank Ltd.
The State Bank of India (SBI) has increased its capital investment at the Nepal SBI Bank Ltd. The investment has been increased by 5 percent, hence making the total investment to 55 percent.
The Nepal SBI Bank Ltd. is the first Joint Venture Bank of its kind, having share investment of an Indian State owned bank. 30 percent of the total capital has been issued to the general public and the 15 percent has been owned by the Citizen Investment Trust (CIT).
As per the Nepal Rastra Bank (NRB) regulation to release the share owned by any financial institution of another financial institution, the Agricultural Development Bank had auctioned the 5 percent share of the Nepal SBI Bank Ltd, which was acquired by the SBI by the highest bid.
Source: arthakoartha.com
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The Nepal SBI Bank Ltd. is the first Joint Venture Bank of its kind, having share investment of an Indian State owned bank. 30 percent of the total capital has been issued to the general public and the 15 percent has been owned by the Citizen Investment Trust (CIT).
As per the Nepal Rastra Bank (NRB) regulation to release the share owned by any financial institution of another financial institution, the Agricultural Development Bank had auctioned the 5 percent share of the Nepal SBI Bank Ltd, which was acquired by the SBI by the highest bid.
Source: arthakoartha.com
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IFC to guarantee the HBL for Import/Export Business
The Himalayan Bank Ltd. has signed an agreement with the International Finance Corporation (IFC) a member of the World Bank Group, for the security of the international trade under the World Business Finance Program.
The agreement paper was signed by the Chief Executive Officer of HBL Mr. Ashok S. Rana and the Regional Manager of the IFC Washington, Perles Rouge, on Tuesday.
As per the agreement, the IFC will provide HBL with the grant assistance for the Business Finance Securities. Under this program, the IFC will be supporting and providing security for the payment against the liabilities of the Import and Export Business and HBL customers involved in the International Trade.
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The agreement paper was signed by the Chief Executive Officer of HBL Mr. Ashok S. Rana and the Regional Manager of the IFC Washington, Perles Rouge, on Tuesday.
As per the agreement, the IFC will provide HBL with the grant assistance for the Business Finance Securities. Under this program, the IFC will be supporting and providing security for the payment against the liabilities of the Import and Export Business and HBL customers involved in the International Trade.
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Are your deposit safe at Bank?
The central bank and the governing body - Nepal Rastra Bank (NRB) is to declare and liquidate the Nepal Development Bank if the later fails to provide appropriate reason behind the bank’s current financial situation within the period of 15 days.
The meeting of the board members of the NRB on Tuesday had taken the decision to take the step, said the NRB source. He further said that looking at the present financial status of the Nepal Development Bank, it is sure to be liquidate. The bank with the paid up capital of Rs. 320 million has a loss of Rs. 670 million. If the NRB liquidate the Nepal Development Bank then this will be the first time in the Nepalese Banking History that any bank has been declared bankruptcy.
All the accounts in the bank have been freeze, after the NRB’s decision to liquidate the bank along with the accounts maintained by the bank in different financial institution including the central bank.
The central bank had warned and instructed the bank’s management to restructure and maintain the sound financial status since the year 2064 B.S. but had been ignored by the NDB. The investment Rs. of 330 million of the Employee Provident Fund and Rs. 200 million of the Nepal Army are at high risk due to the bankruptcy. The deposit from the general public is Rs. 750 million.
As per the NRB analysis, the assets capacity of the NDB is just around Rs. 100 million, which means that the promoters and the general share holders are cent percent sure to loose their investments. Further the bank recently had increased its capital by issuing right shares worth Rs. 80 million.
NRB has the right to liquidate and dissolve any financial institution having bad financial condition. This recent development has brought a huge attention in the Nepalese banking sector and to other financial institutions which has failed to maintain a sound financial status.
Source: arthakoartha.com
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The meeting of the board members of the NRB on Tuesday had taken the decision to take the step, said the NRB source. He further said that looking at the present financial status of the Nepal Development Bank, it is sure to be liquidate. The bank with the paid up capital of Rs. 320 million has a loss of Rs. 670 million. If the NRB liquidate the Nepal Development Bank then this will be the first time in the Nepalese Banking History that any bank has been declared bankruptcy.
All the accounts in the bank have been freeze, after the NRB’s decision to liquidate the bank along with the accounts maintained by the bank in different financial institution including the central bank.
The central bank had warned and instructed the bank’s management to restructure and maintain the sound financial status since the year 2064 B.S. but had been ignored by the NDB. The investment Rs. of 330 million of the Employee Provident Fund and Rs. 200 million of the Nepal Army are at high risk due to the bankruptcy. The deposit from the general public is Rs. 750 million.
As per the NRB analysis, the assets capacity of the NDB is just around Rs. 100 million, which means that the promoters and the general share holders are cent percent sure to loose their investments. Further the bank recently had increased its capital by issuing right shares worth Rs. 80 million.
NRB has the right to liquidate and dissolve any financial institution having bad financial condition. This recent development has brought a huge attention in the Nepalese banking sector and to other financial institutions which has failed to maintain a sound financial status.
Source: arthakoartha.com
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NDB's shares suspended on liquidity news
Nepal Stock Exchange has suspended the trading of "Nepal Development Bank" and "Nepal Development Bank Limited Promoter Share" as the liquidation news of the company flared in.
Nepal Rastra Bank (NRB) decided to send the long-troubled Nepal Development Bank into liquidation after concluding that all its five-year long efforts to revive the bank failed owing to incompetent and defiant management.
Source:
Jamb News Service
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Nepal Rastra Bank (NRB) decided to send the long-troubled Nepal Development Bank into liquidation after concluding that all its five-year long efforts to revive the bank failed owing to incompetent and defiant management.
Source:
Jamb News Service
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Nepal Dev Bank to be liquidated
In a landmark decision, Nepal Rastra Bank (NRB) has decided to send the long-troubled Nepal Development Bank into liquidation after concluding that all its five-year long efforts to revive the bank failed owing to incompetent and defiant management.
A vital board meeting of the central bank held on Tuesday also decided to freeze all the transactions of the bank, including accounts maintained by the NDB at other financial institutions until the appointment of a liquidator. It, however, decided to release a limited amount for essential administrative expenditures of the bank. "The action was very necessary to clean up the mess in the Nepali banking sector," NRB Governor Deependra Bahadur Kshetry told myrepublica.com.
The board meeting also decided to send a letter to the board of Nepal Development Bank asking it to justify why shouldn´t the NRB initiate liquidation process by filing a case at the Appellate Court in Patan within 15 days.
"The clarification has been sought due to legal provisions. Otherwise, transactions, property, liquid assets at the bank, bank accounts and books of accounts will be seized from Wednesday itself," said a highly-placed source.
What this means is, depositors of the bank would not be able to withdraw their money, among others, from Wednesday.
The bank has a total deposit of Rs 720 million as at mid-March 2009. Of the total deposit, the bank has not been able to return Rs 330 million worth of institutional deposits, mainly belonging to Employees Provident Fund (EPF) and Nepal Army, even after the expiry of maturity date.
EPF and Nepal Army´s Welfare Fund have deposits worth Rs 330 million and Rs 200 million as the fixed term deposits at NDB. That is, 45 percent of the deposits owned by the bank belongs to EPF, while NA´s Welfare Fund deposit concentration is 27 percent.
As per the clause 74 of the Banks and Financial Institutions Act, the NRB has to file a case at the Patan Appellate Court to begin the process of liquidation of a financial institution whose financial damages are beyond repair.
The NDB, which started its operation in 1998 as a development bank, has a paid-up capital worth Rs 320 million. Of the total capital, 70 percent is owned by the promoters while remaining 30 percent shares were subscribed by general public.
Despite repeated directives issued by the central bank aimed at improving financial health of NDB, its negative capital fund, which was 25.02 percent, further worsened to 30.43 percent by mid-March 2009, according to an inspection report of NRB. Similarly, its non-performing loans also scaled to almost 30 percent from 25.02 percent. Accumulated loss of NDB too touched Rs 678.6 million by the end of mid-March 2009.
In its decision, the central bank has accused NDB of not being able to fulfill a set of directives that it had issued to the management of the bank while declaring the NDB a problematic bank in October 2007. The NRB has argued that the whopping negative capital fund, worst internal governance and repeated violation of the central bank´s directives are the major factors that compelled the central bank to take the decision.
Source:
Myrepublica.com
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A vital board meeting of the central bank held on Tuesday also decided to freeze all the transactions of the bank, including accounts maintained by the NDB at other financial institutions until the appointment of a liquidator. It, however, decided to release a limited amount for essential administrative expenditures of the bank. "The action was very necessary to clean up the mess in the Nepali banking sector," NRB Governor Deependra Bahadur Kshetry told myrepublica.com.
The board meeting also decided to send a letter to the board of Nepal Development Bank asking it to justify why shouldn´t the NRB initiate liquidation process by filing a case at the Appellate Court in Patan within 15 days.
"The clarification has been sought due to legal provisions. Otherwise, transactions, property, liquid assets at the bank, bank accounts and books of accounts will be seized from Wednesday itself," said a highly-placed source.
What this means is, depositors of the bank would not be able to withdraw their money, among others, from Wednesday.
The bank has a total deposit of Rs 720 million as at mid-March 2009. Of the total deposit, the bank has not been able to return Rs 330 million worth of institutional deposits, mainly belonging to Employees Provident Fund (EPF) and Nepal Army, even after the expiry of maturity date.
EPF and Nepal Army´s Welfare Fund have deposits worth Rs 330 million and Rs 200 million as the fixed term deposits at NDB. That is, 45 percent of the deposits owned by the bank belongs to EPF, while NA´s Welfare Fund deposit concentration is 27 percent.
As per the clause 74 of the Banks and Financial Institutions Act, the NRB has to file a case at the Patan Appellate Court to begin the process of liquidation of a financial institution whose financial damages are beyond repair.
The NDB, which started its operation in 1998 as a development bank, has a paid-up capital worth Rs 320 million. Of the total capital, 70 percent is owned by the promoters while remaining 30 percent shares were subscribed by general public.
Despite repeated directives issued by the central bank aimed at improving financial health of NDB, its negative capital fund, which was 25.02 percent, further worsened to 30.43 percent by mid-March 2009, according to an inspection report of NRB. Similarly, its non-performing loans also scaled to almost 30 percent from 25.02 percent. Accumulated loss of NDB too touched Rs 678.6 million by the end of mid-March 2009.
In its decision, the central bank has accused NDB of not being able to fulfill a set of directives that it had issued to the management of the bank while declaring the NDB a problematic bank in October 2007. The NRB has argued that the whopping negative capital fund, worst internal governance and repeated violation of the central bank´s directives are the major factors that compelled the central bank to take the decision.
Source:
Myrepublica.com
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State Bank of India Owned 55% of shares in Nepal SBI
State Bank of India (SBI), India's largest bank has purchased 5 percent shares of Nepal SBI which was previously owned by Agriculture Development Bank of Nepal. Nepal SBI Bank is the first Indo-Nepal joint venture in the financial sector sponsored by three institutional promoters — SBI, Employees Provident Fund and Agricultural Development Bank of Nepal. SBI now has 55% of shares in Nepal SBI, which was 50% before the purchase of 4,37,400 shares from ADB Nepal. Apart from it, Employees Provident Fund (EPF) has15 % and general public holds 35 % of shares in Nepal SBI.
Nepal Rastra Bank had made a provision that one financial institution can't keep the cross hold share of other financial institution. Hence, ADB Nepal was liable to sell the promoter shares of Nepal SBI appointing ACE development bank as the issue manager.
The sell of shares was on competitive bid process and SBI bank had agreed to pay maximum amount amongst eight competitive groups thus the shares of Nepal SBI was sold to SBI, said sources of ADB Nepal. SBI had compete with two different prices, RS.1502 for 3,49,290 shares and Rs. 1492 for 87,840 shares.
Total of 87,34,791 shares of Nepal SBI is listed in Nepal Stock Exchange and had market price of Rs. 1751 Tuesday. In India, SBI had market price Rs. 1897.80 (INR) Tuesday at Bombay Stock Exchange. Nepal SBI had earned about 225.182 millions during nine months of the current fiscal year which was 144.45 million in the same period last year.
Source:
Jamb News Service
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Nepal Rastra Bank had made a provision that one financial institution can't keep the cross hold share of other financial institution. Hence, ADB Nepal was liable to sell the promoter shares of Nepal SBI appointing ACE development bank as the issue manager.
The sell of shares was on competitive bid process and SBI bank had agreed to pay maximum amount amongst eight competitive groups thus the shares of Nepal SBI was sold to SBI, said sources of ADB Nepal. SBI had compete with two different prices, RS.1502 for 3,49,290 shares and Rs. 1492 for 87,840 shares.
Total of 87,34,791 shares of Nepal SBI is listed in Nepal Stock Exchange and had market price of Rs. 1751 Tuesday. In India, SBI had market price Rs. 1897.80 (INR) Tuesday at Bombay Stock Exchange. Nepal SBI had earned about 225.182 millions during nine months of the current fiscal year which was 144.45 million in the same period last year.
Source:
Jamb News Service
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Chilime to provide shares to affected VDCs
Chilime Hydropower Company has decided to provide 2,15,200 shares to the three VDCs of Rasuwa district which are influenced by the operation of the company.
Chilime has announced to issue 23,00,000 shares in public at premium of 223.70 and out of these, 2,15,200 shares are to be distributed to Chilime, Goljung and Syafru VDCs. Securities Board of Nepal had recently approved to issue the shares of Chilime to public at Rs. 323.70. "IPO of Chilime will be issued in the first week of Ashad month (Mid June) said," Lilanath Bhattarai, Managing director of the company.
Chilime which was established with the national investment and capital (no international funds) has total capacity of producing 20MW electricity. The market price of company is around Rs 1200 at present.
Source:
Jamb News Service
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Chilime has announced to issue 23,00,000 shares in public at premium of 223.70 and out of these, 2,15,200 shares are to be distributed to Chilime, Goljung and Syafru VDCs. Securities Board of Nepal had recently approved to issue the shares of Chilime to public at Rs. 323.70. "IPO of Chilime will be issued in the first week of Ashad month (Mid June) said," Lilanath Bhattarai, Managing director of the company.
Chilime which was established with the national investment and capital (no international funds) has total capacity of producing 20MW electricity. The market price of company is around Rs 1200 at present.
Source:
Jamb News Service
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Nabil opens 4 branches
Nabil Bank on Tuesday opened four new branches in the valley.
Satyendra Pyara Shrestha, chairman of Nabil and former governor of Nepal Rastra Bank, inaugurated the branches at Thamel, Halchok, Kausaltar and New Baneshwor. The branches will provide ATM service within a week besides all modern banking services.
Shrestha said that expansion of the bank's network of branches was part of its strategy to increase reach and service delivery in the valley. "In the future, we will have to compete with international-level banks. Thus the expansion is also a preparation for that," he added.
Established 24 years ago, Nabil has been providing banking services through its network spread across most major urban, semi urban and rural areas of the country. "Next year, we will be opening 10 new branches targeting rural areas, which will help increase microfinancial activities there,"said Shrestha.
Anil K. Shah, chief executive officer of Nabil, said that the New Baneshwor branch will also work as national coordinator for SME lending affairs.
With the opening of the four new branches, Nabil now maintains 32 branches across the country, among which 10 are located in the valley. According to Nabil,its deposits, lending and net profit during the first nine months of the current fiscal year stand at Rs. 35.7 billion,Rs. 26.4 billion and Rs. 659 million respectively.
The bank is going to mark next year as "year of deposit" to increase deposits from customers.
Source:
Ekantipur
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Satyendra Pyara Shrestha, chairman of Nabil and former governor of Nepal Rastra Bank, inaugurated the branches at Thamel, Halchok, Kausaltar and New Baneshwor. The branches will provide ATM service within a week besides all modern banking services.
Shrestha said that expansion of the bank's network of branches was part of its strategy to increase reach and service delivery in the valley. "In the future, we will have to compete with international-level banks. Thus the expansion is also a preparation for that," he added.
Established 24 years ago, Nabil has been providing banking services through its network spread across most major urban, semi urban and rural areas of the country. "Next year, we will be opening 10 new branches targeting rural areas, which will help increase microfinancial activities there,"said Shrestha.
Anil K. Shah, chief executive officer of Nabil, said that the New Baneshwor branch will also work as national coordinator for SME lending affairs.
With the opening of the four new branches, Nabil now maintains 32 branches across the country, among which 10 are located in the valley. According to Nabil,its deposits, lending and net profit during the first nine months of the current fiscal year stand at Rs. 35.7 billion,Rs. 26.4 billion and Rs. 659 million respectively.
The bank is going to mark next year as "year of deposit" to increase deposits from customers.
Source:
Ekantipur
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Right Share Issue Closing: UFLK
Universal Finance Ltd. is closing its right share issue from today, 3rd June 2009 (2066 Jestha 20).
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Right Share Issue: STFL
Standard Finance Ltd. is issuing 1:5 right share from today, 3rd June 2009 to 7th July 2009 (2066 Jestha 20 to 2066 Ashad 23).
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Right Share Allotment Notice: SDBL
Siddhartha Development Bank Ltd. has allotted its right shares on 31st May 2009 (2066 Jestha 17).
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Book Closure Altered Again: PFLBS
Patan Finance Ltd. is having its book closure on 5th June 2009 (2066 Jestha 22) instead of 3rd June 2009 (2066 Jestha 20) for the purpose of issuing 1:1 right share.
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Right Share Issue Closing: CMBSL
Civil Merchant Bittiya Sanstha Ltd. is closing its right share issue from today, 3rd June 2009 (2066 Jestha 20).
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Right Share Issue: PRFL
Prabhu Finance Company Ltd. is issuing 2:1 right share from 19th June 2009 to 23rd July 2009 (2066 Ashad 5 to 2066 Shrawan 8). For this purpose it is having its book closure on 4th June 2009 (2066 Jestha 21).
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Tuesday, June 2, 2009
Today's Share Price (As of 2009-06-02)
| S.No. | Traded Companies | No.of Transaction | Max. Price | Min. Price | Closing Price | Total Share | Amount | Previous Closing | Difference Rs. |
| 1 | Annapurna Bikash Bank Limited | 17 | 492 | 485 | 490 | 515 | 252,195 | 483 | 7 |
| 2 | Ace Development Bank Limited | 12 | 610 | 575 | 610 | 2,125 | 1,246,104 | 580 | 30 |
| 3 | Annapurna Finance Company Limited | 1 | 905 | 905 | 905 | 200 | 181,000 | 905 | 0 |
| 4 | Business Development Bank Ltd. | 2 | 645 | 645 | 645 | 150 | 96,750 | 640 | 5 |
| 5 | Bank of Kathmandu | 18 | 1,580 | 1,506 | 1,535 | 1,708 | 2,619,387 | 1,520 | 15 |
| 6 | Chhimek Vikash Bank Ltd. | 1 | 304 | 304 | 304 | 480 | 145,920 | 304 | 0 |
| 7 | Clean Energy Development Bank Limited | 30 | 888 | 848 | 888 | 1,290 | 1,144,180 | 808 | 80 |
| 8 | Chilime Hydro power Co. | 11 | 1,203 | 1,160 | 1,170 | 2,910 | 3,420,510 | 1,160 | 10 |
| 9 | Capital Mer. Bamk & Fin | 1 | 686 | 686 | 686 | 288 | 197,568 | 700 | -14 |
| 10 | Civil Merchant bittya sanstha | 1 | 404 | 404 | 404 | 50 | 20,200 | 404 | 0 |
| 11 | DCBL Bank Ltd. | 2 | 432 | 427 | 432 | 253 | 109,031 | 419 | 13 |
| 12 | Everest Bank Ltd | 2 | 2,352 | 2,305 | 2,305 | 185 | 430,420 | 2,400 | -95 |
| 13 | Everest Finance Ltd, | 4 | 475 | 460 | 475 | 470 | 218,570 | 469 | 6 |
| 14 | Global Bank Limited | 20 | 600 | 580 | 595 | 1,220 | 721,780 | 595 | 0 |
| 15 | Gandaki Bikas Bank Limited | 1 | 550 | 550 | 550 | 100 | 55,000 | 555 | -5 |
| 16 | Himalayan Bank Ltd. | 6 | 1,735 | 1,700 | 1,703 | 1,282 | 2,187,230 | 1,700 | 3 |
| 17 | ICFC Bittya Sanstha Ltd. | 2 | 495 | 486 | 486 | 1,190 | 583,650 | 500 | -14 |
| 18 | Infrastructure Development Bank Limited | 1 | 550 | 550 | 550 | 230 | 126,500 | 560 | -10 |
| 19 | International Leasing & Fin. Co. | 2 | 629 | 617 | 629 | 128 | 79,216 | 605 | 24 |
| 20 | IME Financial Institution | 10 | 950 | 913 | 945 | 2,408 | 2,252,700 | 940 | 5 |
| 21 | Janaki Finance Ltd. | 1 | 471 | 471 | 471 | 413 | 194,523 | 480 | -9 |
| 22 | Kaski Finance Limited | 7 | 930 | 912 | 912 | 160 | 146,100 | 912 | 0 |
| 23 | Kumari Bank Ltd | 4 | 675 | 660 | 667 | 463 | 307,543 | 662 | 5 |
| 24 | KIST Bank Limited | 27 | 408 | 390 | 390 | 6,970 | 2,775,310 | 400 | -10 |
| 25 | Kuber Merchant Bittiya Sanstha Limited | 52 | 799 | 769 | 799 | 630 | 499,020 | 754 | 45 |
| 26 | Lord Buddha Financial Institutional Limited | 29 | 450 | 442 | 450 | 540 | 240,750 | 450 | 0 |
| 27 | Lumbini General Insurance | 5 | 200 | 200 | 200 | 50 | 10,000 | 204 | -4 |
| 28 | Life Insurance Co. Nepal | 1 | 725 | 725 | 725 | 20 | 14,500 | 725 | 0 |
| 29 | Lumbini Bank Ltd. | 6 | 446 | 431 | 440 | 524 | 227,794 | 430 | 10 |
| 30 | Machhachapuchhre Bank Ltd | 7 | 470 | 451 | 470 | 886 | 406,407 | 466 | 4 |
| 31 | Malika Bikash Bank Limited | 3 | 1,187 | 1,142 | 1,187 | 60 | 69,860 | 1,120 | 67 |
| 32 | Nepal Aawas Bikas Beeta Co. Ltd. | 1 | 285 | 285 | 285 | 66 | 18,810 | 290 | -5 |
| 33 | Nabil Bank Ltd. | 10 | 4,309 | 4,170 | 4,223 | 759 | 3,187,981 | 4,175 | 48 |
| 34 | Nepal Bangladesh Bank Ltd. | 7 | 302 | 300 | 300 | 840 | 252,320 | 297 | 3 |
| 35 | Nepal Credit & Com. Bank | 9 | 310 | 300 | 300 | 55,020 | 16,531,580 | 308 | -8 |
| 36 | Nepal Development Bank | 1 | 126 | 126 | 126 | 100 | 12,600 | 127 | -1 |
| 37 | National Hydro Power Co. | 1 | 107 | 107 | 107 | 1,000 | 107,000 | 109 | -2 |
| 38 | Nepal Investment Bank Ltd. | 6 | 1,330 | 1,300 | 1,300 | 625 | 824,634 | 1,301 | -1 |
| 39 | Nepal Industrial & Co.Bank | 22 | 1,005 | 990 | 1,000 | 3,845 | 3,845,089 | 995 | 5 |
| 40 | NMB Bank Ltd. | 2 | 490 | 482 | 482 | 440 | 212,720 | 499 | -17 |
| 41 | Nepal Share Markets Ltd. | 30 | 1,018 | 990 | 1,000 | 2,600 | 2,602,143 | 1,000 | 0 |
| 42 | Nepal Doorsanchar Company Limited | 10 | 576 | 570 | 570 | 2,110 | 1,209,050 | 572 | -2 |
| 43 | Premier Finance Co. Ltd | 1 | 343 | 343 | 343 | 23 | 7,889 | 337 | 6 |
| 44 | Pokhara Finance Ltd. | 3 | 465 | 447 | 447 | 200 | 90,660 | 473 | -26 |
| 45 | Patan Finance Ltd. | 1 | 299 | 299 | 299 | 100 | 29,900 | 294 | 5 |
| 46 | Prabhu Finance Company Limited | 541 | 867 | 780 | 857 | 9,320 | 7,924,820 | 814 | 43 |
| 47 | Pashupati Development Bank Limited | 37 | 551 | 530 | 535 | 820 | 442,760 | 551 | -16 |
| 48 | Reliable Investment Bittiya Sanstha Limited | 7 | 725 | 700 | 700 | 130 | 92,160 | 725 | -25 |
| 49 | Sanima Vikash Bank Ltd. | 5 | 635 | 625 | 635 | 660 | 414,310 | 625 | 10 |
| 50 | Nepal SBI Bank Limited | 9 | 1,751 | 1,700 | 1,751 | 790 | 1,356,224 | 1,700 | 51 |
| 51 | Siddhartha Bank Limited | 19 | 980 | 972 | 972 | 2,628 | 2,564,094 | 975 | -3 |
| 52 | Standard Chartered Bank Ltd. | 11 | 5,700 | 5,550 | 5,586 | 969 | 5,402,411 | 5,450 | 136 |
| 53 | Siddhartha Development Bank Limited | 1 | 308 | 308 | 308 | 46 | 14,168 | 306 | 2 |
| 54 | Siddhartha Insurance Limited | 7 | 178 | 178 | 178 | 140 | 24,920 | 175 | 3 |
| 55 | Sagarmatha Merchant Banking & Finance Limited | 6 | 691 | 690 | 690 | 190 | 131,140 | 700 | -10 |
| 56 | Standard Finance Ltd. | 17 | 390 | 360 | 390 | 1,452 | 548,184 | 384 | 6 |
| 57 | Subhechha Bikas Bank Limited | 3 | 720 | 720 | 720 | 60 | 43,200 | 715 | 5 |
| 58 | Triveni Bikas Bank Limited | 1 | 606 | 606 | 606 | 10 | 6,060 | 606 | 0 |
| Total Traded Amount Rs.: | 68,876,545 |
| Total Traded Shares: | 112,841 |
| Total Transactions: | 1,054 |
Source:nepalstock.com
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