We all know and have heard a lot by now about corporate governance. Fifteen years back, there was no such buzzword called “corporate governance”. Does this mean that there were no business principles and ethics in the past? Why has corporate governance suddenly sprung into action?
The fact is everything was in place but it was the deteriorating financial discipline in many countries, which compelled the regulators to venture deeper into the subject. Be it the security scam of 1992 in India or the Baring Brothers episode, the whole financial system got a heavy jolt. There were many other similar events happening across the globe. More recently, the importance of corporate governance has increased manifolds owing to the chain of events that caused the cataclysm termed as the global financial crisis.
Corporate governance is a manner by which organizations are directed and controlled. It provides a structure through which a company’s objectives are set and the means of monitoring the performance of those objectives are outlined. It includes the laws governing the formation of individual units, firms, companies etc. and the bylaws established by themselves in their Memorandum of Association and Article of Association. The fundamental concern of corporate governance is to ensure that a company’s directors and managers act in the interest of the company and all its stakeholders. Good governance thus aims to protect shareholders’ rights, enhance disclosures and transparency facilitating an effective functioning of the board and provide an efficient legal and regulatory environment and enforcement framework. Concisely, corporate governance is all about responsibility and accountability of the directors and the management team to the stakeholders. It has to be a transparent and fair system where all the shareholders are treated equally and have the opportunity for redressing the violation of their individual rights.
NEPALI SCENARIO
Against this backdrop, let us evaluate the present scenario of corporate governance in Nepal, especially in the financial sector. Is the recent Nepal Rastra Bank (NRB) order to liquidate a commercial bank a pre-cursor to the future happening of important events?
We all know that banks play a crucial role in building the economy and Nepal is no exception. Effective corporate governance in banks and financial institutions helps foster financial stability, strengthen risk management and ultimately contribute to a strong financial system. A sustainable growth in the economy is critically dependent on a sound financial system. Nepal is in a critical stage of transition. At this juncture, there is an utmost need to have good corporate governance practices in the financial sector. The working board requires individuals who are informed, competent and independent to ensure enterprise integrity, which can promote sound economic growth. Increased competition resulting from entry of international players has significantly improved corporate governance in the banks of many developing economies.
In Nepali context, the regulators very kindly agreed for the entry of international players in the form of joint venture banks into the market. This shows that government/regulators are open to competition from international companies. With Nepal’s accession to World Trade Organization, other major international players are expected to join in who will bring in fresh dimensions to the sector. In other developing markets, the entry of international players has made all the difference; they have galvanized the market and imparted healthy competition.
Banking reforms can only be fully implemented once prudential regulatory systems are in place. As a matter of fact, Nepal has plenty of it. There are many laws and bylaws. It is critically important for making corporate governance effective in an economy like Nepal. Most of the markets, which have developed today, have gone through this phase for many years. Nepal is not an exception.
From the viewpoint of banks and financial institutions, corporate governance includes maintaining capital adequacy, transparency in the publication of accounts, management of operational, credit, market and environmental risks, to name a few. As for example, when Standard Chartered Bank started its operation in Nepal, we were aware of only two risks – operational and credit. Today, so many added risks have come through the process of evolution because markets have matured and newer instruments have been introduced. So, as a sequel to that, regulators have to devise additional control mechanisms. The Basel II is a good reference to make.
In Nepal, NRB has issued directives on good corporate governance. It is a clear indication of central bank’s commitment to bring about high level of corporate governance. To be very specific, Directive Number 6 of the central bank is related to the code of ethics to be observed by directors and chief executive officers of banks and financial institutions. These codes of ethics require all the directors, regardless of their executive or non-executive status, to sign a declaration which prohibits directors’ involvement in activities against the interest of the company.
I firmly believe that good governance and good performance reinforce each other. With good governance, good performance comes automatically.
In conclusion, I would like to emphasize that for the betterment of the overall financial system in the country, it is incumbent upon all of us i.e the regulators, the companies, the directors, employees and the shareholders to gracefully honor the principles of governance. It is our collective responsibility and we cannot just hold the central bank or the chief executive officer responsible for any setback. I strongly believe that banks and financial institutions reforms can fully be implemented if and only if prudential regulatory systems are practiced with a strong desire for success. Nevertheless, an efficient judiciary system would also be required for effective implementation.
By Sujit Mundul (Writer is CEO, Standard Chartered Bank Nepal Ltd.
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Saturday, June 20, 2009
Bad governance bane of corporate sector
Bad governance has been good business for Nepal's corporate sector, alleged Surbir Poudel, chairman of the Security Board of Nepal (SEBON), on Friday.
Speaking at an interaction on good corporate governance in the capital, he said that the Nepali business community was yet to adopt a good corporate culture with adequate care of the general public's interest. The event was organised by the Nepal Stock Exchange (NEPSE) and the World Bank's private sector wing International Finance Corporation (IFC).
"Promoters think that the money collected from the general public is their own," he said. Citing Nepal Development Bank and Nepal Bangladesh Bank as examples of financial institutions earning a bad name for their governance, he said that there had been no clear separation between ownership and management.
President of Nepal Bankers Association Sashin Joshi stressed the need for a strong regulator to promote good governance. During the interaction, participants spoke about the situation of corporate governance in Nepal, international practices and how to implement good practices in family businesses and state-owned enterprises.
Padma Jyoti, prominent businessman and Constituent Assembly member, said that the Nepali private sector was yet to fully adopt a good corporate culture as the heritage of Nepal's business corporations was not so entrepreneurial.
Source: EKantipur
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Speaking at an interaction on good corporate governance in the capital, he said that the Nepali business community was yet to adopt a good corporate culture with adequate care of the general public's interest. The event was organised by the Nepal Stock Exchange (NEPSE) and the World Bank's private sector wing International Finance Corporation (IFC).
"Promoters think that the money collected from the general public is their own," he said. Citing Nepal Development Bank and Nepal Bangladesh Bank as examples of financial institutions earning a bad name for their governance, he said that there had been no clear separation between ownership and management.
President of Nepal Bankers Association Sashin Joshi stressed the need for a strong regulator to promote good governance. During the interaction, participants spoke about the situation of corporate governance in Nepal, international practices and how to implement good practices in family businesses and state-owned enterprises.
Padma Jyoti, prominent businessman and Constituent Assembly member, said that the Nepali private sector was yet to fully adopt a good corporate culture as the heritage of Nepal's business corporations was not so entrepreneurial.
Source: EKantipur
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Market declines on Chilime IPO suspension
The leading news of the week was the postponement of Chilime Hydropower´s much anticipated Initial Public Offering (IPO). Locals affected by the hydropower project moved the Supreme Court on June 14 after the company issued a notice allocating only 5% of the IPO to them instead of the formerly announced 8%. The Supreme Court is scheduled to decide on the matter on June 24. However, the primary market still remained active as Crystal Finance began its IPO on June 16 and Vibor Development Bank´s IPO, which closed June 14, was reportedly oversubscribed by approximately 4.52 times. Investors are also looking forward to IPOs from Arun Hydro Development and Public Development Bank next week.
With Chilime´s IPO on hold, the market turnover for common shares improved slightly by 9.96% to Rs 226,147,280 . The total turnover for the week declined by 75.79% as the bulk of last week´s turnover resulted from the trading of promoter shares. The NEPSE index declined slightly by 0.10% to end the week at 683.71. Trading (+3.04%) was the only sector to gain as Bishal Bazar´s stock increased by Rs 100. The ´Others´ sector remained unchanged. Development banking (-2.71%) was the biggest loser of the week, mainly due to the Infrastructure Development Bank (-Rs. 90) becoming the biggest loser of the week. Slight declines were registered in Insurance (-0.69%), Hydropower (-0.55%), Finance (-0.40%) and Commercial banking (-0.25%). Overall, there was modest activity in the market as investors waited for the IPO rush to end.
Issues relating to corporate governance were raised during the week as World Merchant Banking and Finance´s chief executive officer and one of the directors got arrested over fraud charges. The firm´s stock was subsequently suspended from the exchange for a day, and resumed later in the week after Nepal Rastra Bank rules and other related rules were met. In recent times, Nepal Rastra Bank has taken over the Bank of Kathmandu´s board following internal dispute among its board members and decided to liquidate Nepal Development Bank citing the latter´s extremely weak financial position. The regulatory body´s tight monitoring could make investors wary but tight monitoring will be in the interest of the investors and help maintain the integrity of the banking and financial sectors.
Source: myrepublica.com
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With Chilime´s IPO on hold, the market turnover for common shares improved slightly by 9.96% to Rs 226,147,280 . The total turnover for the week declined by 75.79% as the bulk of last week´s turnover resulted from the trading of promoter shares. The NEPSE index declined slightly by 0.10% to end the week at 683.71. Trading (+3.04%) was the only sector to gain as Bishal Bazar´s stock increased by Rs 100. The ´Others´ sector remained unchanged. Development banking (-2.71%) was the biggest loser of the week, mainly due to the Infrastructure Development Bank (-Rs. 90) becoming the biggest loser of the week. Slight declines were registered in Insurance (-0.69%), Hydropower (-0.55%), Finance (-0.40%) and Commercial banking (-0.25%). Overall, there was modest activity in the market as investors waited for the IPO rush to end.
Issues relating to corporate governance were raised during the week as World Merchant Banking and Finance´s chief executive officer and one of the directors got arrested over fraud charges. The firm´s stock was subsequently suspended from the exchange for a day, and resumed later in the week after Nepal Rastra Bank rules and other related rules were met. In recent times, Nepal Rastra Bank has taken over the Bank of Kathmandu´s board following internal dispute among its board members and decided to liquidate Nepal Development Bank citing the latter´s extremely weak financial position. The regulatory body´s tight monitoring could make investors wary but tight monitoring will be in the interest of the investors and help maintain the integrity of the banking and financial sectors.
Source: myrepublica.com
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Good governance will ensure good business
Corporate governance is an area of great importance for all financial and real sector institutions, opined experts here today during a seminar on ‘Good corporate governance means good business’ organised jointly by Nepal Stock Exchange (Nepse) and International Finance Corporation (IFC), the private sector arm of the World Bank Group.
“For companies, good governance means securing access to broader based, cheaper capital,” said Nepse general manager Shanker Man Singh. “Good governance equals good business. All of us are working towards that goal, whether through legislative measures, training or inculcating new standards of ethics in business,” he said.
At a time when domestic companies are deep into boardroom disputes, corporate good governance is in a shambles. Regulatory authorities like Nepal Rastra Bank (NRB), Securities Board of Nepal (Sebon), Beema Samiti, Company Registrar and front line regulator Nepse face great challenges in safeguarding depositors’ and shareholders’ rights.
Though in April 2005 Corporate Governance Country Assessment — a corporate financial governance project that provided impetus for the development of Nepali capital market — with the help of World Bank, the situation has not yet improved.
For the regulatory authorities supervision and monitoring are becoming more challenging due to lack of trained manpower, infrastructure and increasing number of public companies.
“The Company Act provides basic corporate framework, but when companies go public and their shares get publicly traded at the sole secondary market, their corporate good governance is a matter of concern for the public as well,” Singh said.
“Capital market is limited to family, multinationals are not going public and public enterprises are suffering from political influence,” said Constituent Assembly member and industrialist Padhma Jyoti. With a five-decade long experience and expertise in Nepali corporate business, he urged entrepreneurs to escape from political turmoil.
Mike Lubrano, MD of Catrca Capital, Washington presented a paper on, “Stock Exchange and Improvement in Corporate Governance: the Case of Novo Mercado, Brazil’. Sanaa Abzouzid of IFC presented a paper on ‘Preparing a family business for IPO’. She explored the feasibility of transformation of family business into public business in Nepal.
A firm with good governance
can attract higher investment premiums, have cheaper access to
debt, outperform its peers in the long run and gain better access to multilateral investors. To establish good corporate governance, a firm should have well-defined shareholders rights including protection of minority shareholders, solid control environment including strong risk management and internal control, high levels of transparency and disclosure and an empowered and capable Board of Directors.
“Business is not just about making sound investment decisions, taking and managing risks and dealing with economic uncertainties. Today, it is about social responsibility, putting all of our actions under public scrutiny and responding to the concerns of those among whom we conduct our business in open and accountable way,” Singh said.
Securities Board of Nepal chairman Dr Sur Bir Poudel, Nepal Bankers’ Association president Sashin Joshi, Himalayan Distillery chairman Narendra Basnyat and Unilever Nepal managing director Kamran Baqr also shared their experiences of corporate good governance.NRB deputy governor Krishna Bahadur Manandhar and Washington-based IFC corporate governance unit’s Maxin Garvey also shed light on good corporate governance.
Source: THT
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“For companies, good governance means securing access to broader based, cheaper capital,” said Nepse general manager Shanker Man Singh. “Good governance equals good business. All of us are working towards that goal, whether through legislative measures, training or inculcating new standards of ethics in business,” he said.
At a time when domestic companies are deep into boardroom disputes, corporate good governance is in a shambles. Regulatory authorities like Nepal Rastra Bank (NRB), Securities Board of Nepal (Sebon), Beema Samiti, Company Registrar and front line regulator Nepse face great challenges in safeguarding depositors’ and shareholders’ rights.
Though in April 2005 Corporate Governance Country Assessment — a corporate financial governance project that provided impetus for the development of Nepali capital market — with the help of World Bank, the situation has not yet improved.
For the regulatory authorities supervision and monitoring are becoming more challenging due to lack of trained manpower, infrastructure and increasing number of public companies.
“The Company Act provides basic corporate framework, but when companies go public and their shares get publicly traded at the sole secondary market, their corporate good governance is a matter of concern for the public as well,” Singh said.
“Capital market is limited to family, multinationals are not going public and public enterprises are suffering from political influence,” said Constituent Assembly member and industrialist Padhma Jyoti. With a five-decade long experience and expertise in Nepali corporate business, he urged entrepreneurs to escape from political turmoil.
Mike Lubrano, MD of Catrca Capital, Washington presented a paper on, “Stock Exchange and Improvement in Corporate Governance: the Case of Novo Mercado, Brazil’. Sanaa Abzouzid of IFC presented a paper on ‘Preparing a family business for IPO’. She explored the feasibility of transformation of family business into public business in Nepal.
A firm with good governance
can attract higher investment premiums, have cheaper access to
debt, outperform its peers in the long run and gain better access to multilateral investors. To establish good corporate governance, a firm should have well-defined shareholders rights including protection of minority shareholders, solid control environment including strong risk management and internal control, high levels of transparency and disclosure and an empowered and capable Board of Directors.
“Business is not just about making sound investment decisions, taking and managing risks and dealing with economic uncertainties. Today, it is about social responsibility, putting all of our actions under public scrutiny and responding to the concerns of those among whom we conduct our business in open and accountable way,” Singh said.
Securities Board of Nepal chairman Dr Sur Bir Poudel, Nepal Bankers’ Association president Sashin Joshi, Himalayan Distillery chairman Narendra Basnyat and Unilever Nepal managing director Kamran Baqr also shared their experiences of corporate good governance.NRB deputy governor Krishna Bahadur Manandhar and Washington-based IFC corporate governance unit’s Maxin Garvey also shed light on good corporate governance.
Source: THT
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ADBN Seeks Permission For Public Issue
Agricultural Development Bank Limited (ADBN) has sought permission from Securities Board Nepal for issuing shares to the general public. Issuing a press release, the bank said it has lodged an application at the board for issuing 9.6 million units of shares worth Rs 960 million. The bank has further announced that it has already completed all necessary preparations for the issue and would go to public as soon as the board gives its nod.
Source: myrepublica.com
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Source: myrepublica.com
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Friday, June 19, 2009
NMB opens new branch, BoK installs ATM
NMB Bank has opened a new branch at Amrit Marg in Thamel.
The bank plans to open two more branches this year and take the number of its outlets to 11, says a press release issued by the bank on Thursday.
“The branch will provide all regular banking services to customers,” states the release.
Meanwhile, the bank has recently introduced an online service using which the customers can pay their post-paid mobile and landline telephone bills.
Source: myrepublica.com
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The bank plans to open two more branches this year and take the number of its outlets to 11, says a press release issued by the bank on Thursday.
“The branch will provide all regular banking services to customers,” states the release.
Meanwhile, the bank has recently introduced an online service using which the customers can pay their post-paid mobile and landline telephone bills.
Source: myrepublica.com
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BoK´s new ATM at Gyaneshwar
Bank of Kathmandu (BoK) has installed an ATM at its branch in Gyanwshwar.
BoK now has a total of 17 ATMs, according to a press statement issued by the bank Thursday
Source: myrepublica.com
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BoK now has a total of 17 ATMs, according to a press statement issued by the bank Thursday
Source: myrepublica.com
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Lower CRR by one percentage point: Banks
Nepal Bankers´ Association (NBA), an umbrella organization of commercial banks, has officially asked the central bank to lower the Cash Reserve Ratio (CRR) -- mandatory cash deposit that banks have to maintain at the central bank -- by one percentage point to 4.5 percent.
In its recommendations handed over to the NRB for the Monetary Policy for the next fiscal year, NBA has argued that lowering the CRR rate by at least one percentage point is necessary to deal with the ongoing ´mild´ liquidity shortage, which is continuously fueling both deposit and lending rates in recent months.
The monetary policy unveiled last year had raised CRR on local currency deposits to 5.5 per cent from 5 per cent.According to estimates, if the upcoming monetary policy incorporated NBA´s demand, it will release around Rs 4 billion worth of liquidity into the market.
An NBA board member told Republica that the association has recommended the central bank to review its liberal licensing policy, as raising the number of financial institutions without strengthening of supervision and inspection capacity of the NRB might lead toward crisis.
"The present policy of issuing license to run a financial institution just because someone has the capital shouldn´t be continued," said the official.
Likewise, the NBA has also urged the central bank to increase foreign currency exchange facility to Nepali people visiting abroad from existing US$ 2,000 to US$ 5,000 per visit. It has also suggested raising the foreign exchange facility to US$ 50,000 for those who wish to migrate to foreign country. Such facility at present is US$ 10,000 per family.
The NBA has also sought changes in the NRB´s existing policy regarding opening new branches of commercial banks. The present policy of allowing a new branch inside the Kathmandu Valley upon opening a branch outside the Valley has no meaning and it should be scraped, he said.
The NBA also wants the NRB to allow banks to open extension counters, which can significantly lower the cost of operating branches without compromising with quality of basic banking services. At present, the central bank allows banks to open such counters in hospitals only.
Similarly, the bankers´ umbrella organization has also suggested lowering the present three percent SLF penal rate to something around one percent. "Three percent penal rate is too high at the time of liquidity crisis," said the official.
The NBA has recommended that the NRB take policy decision to make all the transactions worth over five million rupees through banking channel.
Source
myrepublica.com
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In its recommendations handed over to the NRB for the Monetary Policy for the next fiscal year, NBA has argued that lowering the CRR rate by at least one percentage point is necessary to deal with the ongoing ´mild´ liquidity shortage, which is continuously fueling both deposit and lending rates in recent months.
The monetary policy unveiled last year had raised CRR on local currency deposits to 5.5 per cent from 5 per cent.According to estimates, if the upcoming monetary policy incorporated NBA´s demand, it will release around Rs 4 billion worth of liquidity into the market.
An NBA board member told Republica that the association has recommended the central bank to review its liberal licensing policy, as raising the number of financial institutions without strengthening of supervision and inspection capacity of the NRB might lead toward crisis.
"The present policy of issuing license to run a financial institution just because someone has the capital shouldn´t be continued," said the official.
Likewise, the NBA has also urged the central bank to increase foreign currency exchange facility to Nepali people visiting abroad from existing US$ 2,000 to US$ 5,000 per visit. It has also suggested raising the foreign exchange facility to US$ 50,000 for those who wish to migrate to foreign country. Such facility at present is US$ 10,000 per family.
The NBA has also sought changes in the NRB´s existing policy regarding opening new branches of commercial banks. The present policy of allowing a new branch inside the Kathmandu Valley upon opening a branch outside the Valley has no meaning and it should be scraped, he said.
The NBA also wants the NRB to allow banks to open extension counters, which can significantly lower the cost of operating branches without compromising with quality of basic banking services. At present, the central bank allows banks to open such counters in hospitals only.
Similarly, the bankers´ umbrella organization has also suggested lowering the present three percent SLF penal rate to something around one percent. "Three percent penal rate is too high at the time of liquidity crisis," said the official.
The NBA has recommended that the NRB take policy decision to make all the transactions worth over five million rupees through banking channel.
Source
myrepublica.com
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Upcoming 1st AGM:Swastik
Swastik Merchant Finance Co. Ltd has announced its forthcoming 1st annual general meeting to be held on 10th July 2009 (2066 Ashad 26).
Source
Jamb News Service
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Source
Jamb News Service
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Right Share Issue: GFL
General Finance Ltd. is issuing 1:1 right share from 7th July 2009 to 10th August 2009 (2066 Ashad 23 to 2066 Shrawan 26). For this purpose it is having its book closure on 19th June 2009 (2066 Ashad 5).
Source
Jamb News Service
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Source
Jamb News Service
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Right Share Issue Closing: SBBL
Sanima Bikash Bank Ltd.is closing the right share issue from today (19-June-2009.
Source
Jamb News Service
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Source
Jamb News Service
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IPO Issue Closing: Crystal
Crystal Finance Ltd. will be closing its IPO issue from today, 19th June 2009 (2066 Ashad 5) after the banking hours.
Source
Jamb News Service
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Source
Jamb News Service
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Upcoming 11th and 12th AGM:GFL
General Finance Ltd. has announced its forthcoming 11th and 12th annual general meeting to be held on 11th July 2009 (2066 Ashad 27).
Source
Jamb News Service
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Source
Jamb News Service
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Compant Analysis: FFCL
Fewa Finance Ltd. has published its third quarter company analysis of fiscal year 2065/66.
Source
Jamb News Service
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Source
Jamb News Service
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Thursday, June 18, 2009
Today's Share Price (As of 2009-06-18)
| 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 | 7 | 496 | 455 | 496 | 1,225 | 563,150 | 455 | 41 |
| 2 | Ace Development Bank Limited | 3 | 540 | 540 | 540 | 350 | 189,000 | 550 | -10 |
| 3 | Annapurna Finance Company Limited | 1 | 950 | 950 | 950 | 20 | 19,000 | 950 | 0 |
| 4 | Bhrikuti Vikash Bank Limited | 1 | 128 | 128 | 128 | 67 | 8,576 | 128 | 0 |
| 5 | Bishal Bazar Co. Ltd. | 4 | 3,213 | 3,150 | 3,200 | 324 | 1,029,060 | 3,100 | 100 |
| 6 | Business Development Bank Ltd. | 2 | 596 | 595 | 595 | 300 | 178,600 | 600 | -5 |
| 7 | Bhajuratna Fin.& Sav. Co. Ltd. | 2 | 148 | 148 | 148 | 88 | 13,024 | 146 | 2 |
| 8 | Bank of Asia Nepal Limited | 97 | 465 | 455 | 465 | 5,050 | 2,317,220 | 460 | 5 |
| 9 | Bank of Kathmandu | 20 | 1,525 | 1,500 | 1,520 | 2,443 | 3,674,095 | 1,540 | -20 |
| 10 | Butwal Power Co. Ltd. | 2 | 983 | 983 | 983 | 200 | 196,600 | 983 | 0 |
| 11 | Clean Energy Development Bank Limited | 16 | 793 | 780 | 790 | 780 | 613,910 | 778 | 12 |
| 12 | Chilime Hydro power Co. | 6 | 1,173 | 1,140 | 1,173 | 3,000 | 3,435,550 | 1,162 | 11 |
| 13 | Citizens Bank International Limited | 90 | 570 | 561 | 563 | 4,375 | 2,461,435 | 562 | 1 |
| 14 | DCBL Bank Ltd. | 9 | 406 | 397 | 402 | 1,487 | 594,514 | 400 | 2 |
| 15 | Everest Bank Ltd | 2 | 2,350 | 2,303 | 2,303 | 100 | 231,475 | 2,345 | -42 |
| 16 | Global Bank Limited | 32 | 550 | 530 | 550 | 1,730 | 933,280 | 539 | 11 |
| 17 | General Finance Ltd. | 1 | 179 | 179 | 179 | 50 | 8,950 | 176 | 3 |
| 18 | Himalayan Bank Ltd. | 3 | 1,615 | 1,605 | 1,615 | 277 | 445,585 | 1,605 | 10 |
| 19 | ICFC Bittya Sanstha Ltd. | 45 | 484 | 448 | 475 | 2,071 | 966,136 | 475 | 0 |
| 20 | Infrastructure Development Bank Limited | 35 | 476 | 440 | 445 | 1,740 | 794,010 | 485 | -40 |
| 21 | International Leasing & Fin. Co. | 3 | 576 | 576 | 576 | 308 | 177,408 | 565 | 11 |
| 22 | IME Financial Institution | 2 | 890 | 889 | 889 | 600 | 533,500 | 887 | 2 |
| 23 | Kaski Finance Limited | 11 | 860 | 860 | 860 | 110 | 94,600 | 861 | -1 |
| 24 | Kumari Bank Ltd | 8 | 619 | 602 | 619 | 6,445 | 3,922,404 | 616 | 3 |
| 25 | Kathmandu Finance Limited. | 2 | 379 | 372 | 372 | 244 | 92,028 | 386 | -14 |
| 26 | KIST Bank Limited | 12 | 377 | 365 | 377 | 3,150 | 1,170,050 | 370 | 7 |
| 27 | Kuber Merchant Bittiya Sanstha Limited | 45 | 725 | 725 | 725 | 480 | 348,000 | 725 | 0 |
| 28 | Lumbini General Insurance | 57 | 219 | 199 | 202 | 1,210 | 247,350 | 221 | -19 |
| 29 | Life Insurance Co. Nepal | 1 | 690 | 690 | 690 | 30 | 20,700 | 677 | 13 |
| 30 | Lumbini Bank Ltd. | 5 | 395 | 383 | 383 | 804 | 311,047 | 390 | -7 |
| 31 | Machhachapuchhre Bank Ltd | 9 | 425 | 409 | 422 | 963 | 401,116 | 425 | -3 |
| 32 | Malika Bikash Bank Limited | 11 | 1,230 | 1,215 | 1,230 | 450 | 549,720 | 1,220 | 10 |
| 33 | Merchant Finance Company Limited | 1 | 284 | 284 | 284 | 20 | 5,680 | 289 | -5 |
| 34 | Nabil Bank Ltd. | 5 | 4,335 | 4,300 | 4,300 | 344 | 1,480,036 | 4,299 | 1 |
| 35 | Nepal Bangladesh Bank Ltd. | 19 | 260 | 245 | 260 | 5,848 | 1,457,940 | 245 | 15 |
| 36 | Nepal Credit & Com. Bank | 13 | 301 | 294 | 295 | 1,150 | 341,060 | 296 | -1 |
| 37 | National Hydro Power Co. | 6 | 94 | 92 | 94 | 5,900 | 548,300 | 93 | 1 |
| 38 | Nepal Investment Bank Ltd. | 9 | 1,191 | 1,170 | 1,190 | 1,049 | 1,242,260 | 1,177 | 13 |
| 39 | Nepal Industrial & Co.Bank | 20 | 995 | 979 | 985 | 1,557 | 1,527,381 | 975 | 10 |
| 40 | Nepal Life Insurance Co. Ltd. | 1 | 1,155 | 1,155 | 1,155 | 60 | 69,300 | 1,140 | 15 |
| 41 | National LifeInsu. Co.Ltd. | 3 | 637 | 637 | 637 | 162 | 103,194 | 637 | 0 |
| 42 | NMB Bank Ltd. | 6 | 459 | 445 | 449 | 551 | 250,494 | 450 | -1 |
| 43 | Nepal Doorsanchar Company Limited | 5 | 550 | 550 | 550 | 630 | 346,500 | 550 | 0 |
| 44 | Prudential Bittiya Sans | 1 | 440 | 440 | 440 | 205 | 90,200 | 436 | 4 |
| 45 | Pokhara Finance Ltd. | 6 | 417 | 410 | 417 | 2,120 | 872,800 | 425 | -8 |
| 46 | Premier Insurance co. Ltd. | 7 | 250 | 230 | 230 | 200 | 47,360 | 255 | -25 |
| 47 | Pashupati Development Bank Limited | 74 | 449 | 429 | 435 | 4,300 | 1,910,660 | 457 | -22 |
| 48 | Reliable Finance Limited | 14 | 690 | 665 | 665 | 470 | 322,290 | 670 | -5 |
| 49 | Royal Mer. Bank.& Fin | 1 | 529 | 529 | 529 | 98 | 51,842 | 539 | -10 |
| 50 | Sanima Vikash Bank Ltd. | 6 | 615 | 607 | 615 | 670 | 409,450 | 615 | 0 |
| 51 | Nepal SBI Bank Limited | 12 | 1,730 | 1,725 | 1,730 | 1,363 | 2,354,428 | 1,725 | 5 |
| 52 | Siddhartha Bank Limited | 10 | 930 | 891 | 902 | 1,349 | 1,214,272 | 915 | -13 |
| 53 | Shikhar Bittiya Sanstha Limited | 2 | 280 | 275 | 280 | 50 | 13,900 | 280 | 0 |
| 54 | Standard Chartered Bank Ltd. | 5 | 5,694 | 5,645 | 5,694 | 127 | 718,759 | 5,700 | -6 |
| 55 | Siddhartha Development Bank Limited | 3 | 290 | 290 | 290 | 308 | 89,320 | 290 | 0 |
| 56 | Soaltee Hotel Ltd. | 2 | 206 | 205 | 205 | 378 | 77,724 | 206 | -1 |
| 57 | Sagarmatha Merchant Banking & Finance Limited | 24 | 682 | 660 | 662 | 380 | 255,170 | 695 | -33 |
| 58 | Subhechha Bikas Bank Limited | 6 | 700 | 698 | 700 | 90 | 62,960 | 700 | 0 |
| 59 | Swabalamwan Bikash Bank | 12 | 613 | 601 | 610 | 918 | 558,999 | 625 | -15 |
| 60 | Triveni Bikas Bank Limited | 2 | 620 | 610 | 620 | 20 | 12,300 | 599 | 21 |
| 61 | United Finance Ltd | 2 | 800 | 790 | 800 | 235 | 186,650 | 775 | 25 |
| 62 | Yeti Finance Company Ltd. | 6 | 370 | 370 | 370 | 225 | 83,250 | 370 | 0 |
| Total Traded Amount Rs.: | 43,245,572 |
| Total Traded Shares: | 71,248 |
| Total Transactions: | 827 |
Source: www.nepalstock.com
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