Wednesday, October 21, 2009
Unilever Nepal: Cash Dividend Distribution Notice of
Unilever Nepal Ltd. is distributing Rs.325 (Per share) cash dividend from 21 October 2009 (2066 Kartik 4).
Alliance Insurance: Right Share Issue
Alliance Insurance co. Ltd. is issuing 1:1 right share from 4th November 2009 (2066 Kartik 18)(Source: Jamb News Service)
Birgunj Finance: Right Share Issue
Birgunj Finance Ltd. is issuing 1:3.923 right share from 18th September to 22 October, 2009 (2066, Ashoj 2 to Kartik 5) (Source: Jamb News Service)
Sunday, October 18, 2009
KBL's Bonus Share
The BOD meeting of Kumari Bank Ltd. held on 4th October 2009 (2066 Aswin 18) has proposed to give 10:1 bonus shares to its shareholders from the profit of fiscal year 2065/66. The bonus proposal need to be approved by NRB and bank's upcoming AGM for distribution.The bank has made Rs. 258.4692 million net profits and Rs. 354.961 million operating profit according to the bank's fourth quarter financial report of fiscal year of 2065/66. Likewise, the bank has Rs. 1.186 billion paid up capital and holds Rs. 442.451 millions in its reserve and surplus account.
Source:Jamb News Service
BOAN to provide 1:1 Right share
Bank of Asia Nepal will provide 1:1 right shares to its shareholders to increase the paid up capital to Rs. 2 billion from its current capital of Rs.1 billion. Speaking at a function to inaugurate the 22nd branch of the bank at Birgunj on Wednesday, CEO of the bank Parshuram K. Chhetri said "the bank will increase its paid up capital to Rs. 2 billion as per the provision of NRB".The inauguration of new branch was done by Chariman of the bank, Trilok Chanda Agrawal. The bank aims to open five more branches across the nation within the current fiscal year. The bank which has celebrated its 2nd year of foundation few weeks before posted Rs. 61.510 million net profit and Rs. 94.826 million operating profit during the fiscal year 2008/09 (un-audited figure). Likewise, the bank holds Rs. 65.972 millions in its reserve &surplus account with deposits Rs. 8.875 billions and provided loans and advances of Rs. 7.635 billions.
Source:Jamb News Service
Kist's 37th Branch at kalimati
The network of Kist Bank Ltd. has reached to 37 after it opened its new branch at kalimati on Thursday. President of the bank, Rajendra Shakya inaugurated the branch of bank being the leading commercial bank to open more branches in Nepal. At an inauguration, Kamal Gnawali, MD of the bank said the bank has aimed to open total of 50 branches across the nation during the current fiscal year. The bank will add five more branches in near future which is under construction.
The bank has posted Rs. 88.376 million net profit and Rs. 136.836 million operating profit as per the fourth quarter financial report of fiscal year 2065/66. Earlier, the BOD meeting held on 23rd September 2009 (2066 Aswin 7) has decided to propose 3.50 percent cash dividend to its shareholders from the profit of fiscal year 2065/66.
Source:Jamb News Service
The bank has posted Rs. 88.376 million net profit and Rs. 136.836 million operating profit as per the fourth quarter financial report of fiscal year 2065/66. Earlier, the BOD meeting held on 23rd September 2009 (2066 Aswin 7) has decided to propose 3.50 percent cash dividend to its shareholders from the profit of fiscal year 2065/66.
Source:Jamb News Service
GMFIL opens two branches
Guheshwari Merchant Banking and Finance Ltd has opened its second and third branches at Kantipath in Hetauda and Chuchchepati in Kathmandu.
According to fourth quarter financial report (2008/09) of the company it has posted Rs. 20.026 million net profit and Rs. 30.795 million operating profit. Likewise, it has Rs. 109.811 million as paid-up capital and holds Rs. 30.116 in its reserve and surplus account.
Source:Jamb News Service
According to fourth quarter financial report (2008/09) of the company it has posted Rs. 20.026 million net profit and Rs. 30.795 million operating profit. Likewise, it has Rs. 109.811 million as paid-up capital and holds Rs. 30.116 in its reserve and surplus account.
Source:Jamb News Service
Gurkha Development Bank in Thimi
Gurkha Development Bank (Nepal) opened its 12th branch at Shankhadhar Chowk of Madhyapur Thimi Municipality on Thursday. DB Bamjan, chairman of the bank, inaugurated the new branch, states a press release issued by the bank.
The bank has the total paid-up capital of Rs 600 million. The bank´s total deposit has reached Rs 3.36 billion till the end of the fiscal year 2008/09. Likewise, the bank´s total investment and loan disbursement stood at Rs 100 million and Rs 3.4 billion respectively during the period. The bank earned a net profit of Rs 50 million in the fiscal year.
The bank has been providing modern banking services including SMS Banking, Online Banking, ATM Services and Any Branch Banking Service.
Source:Republica
The bank has the total paid-up capital of Rs 600 million. The bank´s total deposit has reached Rs 3.36 billion till the end of the fiscal year 2008/09. Likewise, the bank´s total investment and loan disbursement stood at Rs 100 million and Rs 3.4 billion respectively during the period. The bank earned a net profit of Rs 50 million in the fiscal year.
The bank has been providing modern banking services including SMS Banking, Online Banking, ATM Services and Any Branch Banking Service.
Source:Republica
Inflation still in double digits
Consumer inflation is still in double digits. The latest statistics of the central bank shows that the rate of inflation was 10.4 percent in the first month of the current fiscal year. The only good news for consumers is that inflation has started to slide. Nepal Rastra Bank (NRB) data shows that the price index of the food and beverages group increased by 17.8 percent compared to an increase of 13.4 percent during the same period last year. Except for oil and ghee, the price of all the items in the group has increased.
Of the items showing a double-digit price rise, the price indices of sugar and sugar related products increased by a whopping 49.6 percent in mid-August 2009 compared to an increase of 18.2 percent a year ago, said the release. Similarly, the price of vegetables and fruits has increased by 47.2 percent against a decline of 10.6 percent last year. Likewise, meat, fish and eggs and pulses sub-groups increased in the review period by 32.8 percent and 31.7 percent respectively compared to an increase of 12.1 percent and 19.4 percent in the same period last year.
In the non-food and services groups, tobacco and tobacco related products rose by 17 percent in the review period. Domestic credit increased by 0.1 percent during the period compared to an increase of 1.8 percent last year mainly due to a decrease in the growth of private sector credit, which grew by 0.8 percent. In the foreign trade sector, exports expanded by 12.4 percent compared to a rise of 4.5 percent in the corresponding period of the previous year. Exports to India went up by 6.6 percent in contrast to a decline of 20.4 percent in the same period last year mainly due to a rise in the export of polyester yarn, thread, jute goods, textiles and copper wire rods.
The overall balance of payments (BOP) recorded a deficit of Rs. 1.42 billion in the first month of the current fiscal year. However, the current account posted a surplus of Rs. 777.1 million. "Although there was an increase in the trade deficit, the increase in net transfers was responsible for the current account surplus," states the release of the central bank. Likewise, gross foreign exchange reserves stood at Rs. 270.17 billion in mid-August 2009, a decline of 3.3 percent compared to mid-July 2009. The current level of reserves is sufficient for financing merchandise imports for 10.8 months and service imports for 8.9 months.
Source:Kantipur
Of the items showing a double-digit price rise, the price indices of sugar and sugar related products increased by a whopping 49.6 percent in mid-August 2009 compared to an increase of 18.2 percent a year ago, said the release. Similarly, the price of vegetables and fruits has increased by 47.2 percent against a decline of 10.6 percent last year. Likewise, meat, fish and eggs and pulses sub-groups increased in the review period by 32.8 percent and 31.7 percent respectively compared to an increase of 12.1 percent and 19.4 percent in the same period last year.
In the non-food and services groups, tobacco and tobacco related products rose by 17 percent in the review period. Domestic credit increased by 0.1 percent during the period compared to an increase of 1.8 percent last year mainly due to a decrease in the growth of private sector credit, which grew by 0.8 percent. In the foreign trade sector, exports expanded by 12.4 percent compared to a rise of 4.5 percent in the corresponding period of the previous year. Exports to India went up by 6.6 percent in contrast to a decline of 20.4 percent in the same period last year mainly due to a rise in the export of polyester yarn, thread, jute goods, textiles and copper wire rods.
The overall balance of payments (BOP) recorded a deficit of Rs. 1.42 billion in the first month of the current fiscal year. However, the current account posted a surplus of Rs. 777.1 million. "Although there was an increase in the trade deficit, the increase in net transfers was responsible for the current account surplus," states the release of the central bank. Likewise, gross foreign exchange reserves stood at Rs. 270.17 billion in mid-August 2009, a decline of 3.3 percent compared to mid-July 2009. The current level of reserves is sufficient for financing merchandise imports for 10.8 months and service imports for 8.9 months.
Source:Kantipur
Stocks Stampede to optimistic pricing: 2nd Hour Report
After subdued rally in first hour, stocks rallied to positive note on Second hour. Demand of financial stocks rose on last session before Tihar Holiday letting positive price of key banking stocks like Standard Chartered(Rs. 3672, +2.86%), Nepal SBI (Rs. 1735, +2.06%) along with bucket of scrip.
Nepse index traded higher of 6.18 points or 1.03 percent to 605.68 as Banking rose 8.53 points, Development bank added 4.47 points, finance and others are single point forward. It seemed investors got boost from yesterdays upbeat and cling hope for further advancement. If this trend will forward till the closing bell, Nepse might boost the investors' psychology and surely will initiate the positive rally for next session to come after Tihar Holiday.
Source:Jamb News Services
Nepse index traded higher of 6.18 points or 1.03 percent to 605.68 as Banking rose 8.53 points, Development bank added 4.47 points, finance and others are single point forward. It seemed investors got boost from yesterdays upbeat and cling hope for further advancement. If this trend will forward till the closing bell, Nepse might boost the investors' psychology and surely will initiate the positive rally for next session to come after Tihar Holiday.
Source:Jamb News Services
First Hour: Passive Trade
Investor's hair at Nepali equity market was falling thinner day by day as the market was following the bearish foot. However, green shot in last two sessions has triggered hope for positive shift but today's first hour session performed lackluster shedding full-size optimism to ground level.
The passive trade lost 0.68 points to 598.82 triggered by plummets in banking scrip like Standard Chartered (-0.56%) and Bank of Kathmandu (-1.56%). Moreover, the Nepse index is trading below 600 which is low for more than 27 months. Development bank (652.81, -0.70) sector is trading feeble while finance's (+0.73) positive note was boosted by price of Merchant Finance Co. Ltd. (Rs. 319, +6.69%).
Thinner volume of Rs. 3,229,896 from 5,824 shares traded in a dull first hour session. Investor's participation seems too weak at the last day before Tihar Holiday. Investor's psychology is much more concerned for Tihar rather than secondary trade. From tomorrow, new IPO of Miteri Development Bank will kicked off, has also sidelined many investors investment today for coming IPO.
Source: Jamb News Service
The passive trade lost 0.68 points to 598.82 triggered by plummets in banking scrip like Standard Chartered (-0.56%) and Bank of Kathmandu (-1.56%). Moreover, the Nepse index is trading below 600 which is low for more than 27 months. Development bank (652.81, -0.70) sector is trading feeble while finance's (+0.73) positive note was boosted by price of Merchant Finance Co. Ltd. (Rs. 319, +6.69%).
Thinner volume of Rs. 3,229,896 from 5,824 shares traded in a dull first hour session. Investor's participation seems too weak at the last day before Tihar Holiday. Investor's psychology is much more concerned for Tihar rather than secondary trade. From tomorrow, new IPO of Miteri Development Bank will kicked off, has also sidelined many investors investment today for coming IPO.
Source: Jamb News Service
Kist's 36th Branch
Kist Bank Ltd. has opened its 36th branch at Butwal. The second branch of the bank in Amarpath of Butwal was inaugurated by Managing Director of the bank, Kamal Prasal Gnawali. The bank aims to expand its branching facilities across the country to 50 within the current fiscal year.
The bank has posted Rs. 88.376 million net profit and Rs. 136.836 million operating profit as per the fourth quarter financial report of fiscal year 2065/66. Earlier, the BOD meeting held on 23rd September 2009 (2066 Aswin 7) has decided to propose 3.50 percent cash dividend to its shareholders from the profit of fiscal year 2065/66.
Source:Jamb News Service
The bank has posted Rs. 88.376 million net profit and Rs. 136.836 million operating profit as per the fourth quarter financial report of fiscal year 2065/66. Earlier, the BOD meeting held on 23rd September 2009 (2066 Aswin 7) has decided to propose 3.50 percent cash dividend to its shareholders from the profit of fiscal year 2065/66.
Source:Jamb News Service
HBL opens 25th Branch in Damak
The 25th branch of Himalayan Bank Limited (HBL) was inaugurated by Masood Ul Hasan, senior general manager of Himalayan Bank in Damak on Wednesday. Hasan highlighted the current activities of the bank where the deposit base of the bank reached RS. 37.49 billion and loan portfolio over Rs. 26.52 billion. The branch will provide special deposit product called 'Himal Savings Account' with Rs. 0 as the minimum balance and small and medium enterprise loans at a very reasonable rate, says a statement issued by the bank.
Source: Kantipur
Source: Kantipur
US offers to sign trade pact with Nepal
At a time when Nepal's trade with the U.S. has been going down steadily, the U.S. has proposed to sign a bilateral trade and investment agreement with Nepal to boost trade and investment to a new height. The U.S. had forwarded the proposal some one month ago which is being discussed by the ministries and the private sector. Chiranjivi Nepal, advisor to Deputy Prime Minister and Foreign Minister Sujata Koirala, told the Post that the government had received the draft of the agreement and that discussions were underway to incorporate the concerns of the Commerce Ministry and the private sector.
The proposal, which contains seven articles, is focused on mutual trade benefit, addressing the issue of the environment, respect for labour laws, expansion of trade by mutual understanding and exchange of information and cutting trade barriers between the two countries. "Foreign Minister Koirala and the entire ministry are very positive about the U.S. offer. The Commerce Ministry has made some recommendations regarding capacity building and technical support to Nepal. If the U.S. agrees, there is no problem in signing the agreement," Nepal said.
Nepal's bilateral trade in the recent past with the U.S. has plunged 80 percent after a heavy duty was imposed on Nepali readymade garments. During a recent visit to the U.S., Foreign Minister Koirala had met with the Chief of Economic Affairs of the U.S. Senate and three Congressmen and Senators and lobbied to regain duty-free access for Nepali readymade garments in the U.S. The discussion with the U.S. Congressmen was very positive and cordial, and we returned with big expectations, he said. "The agreement will help us to regain our lost readymade garment market in the U.S. Also, it will provide easy access to readymade garments. No doubt, it would be a great relief to Nepali entrepreneurs who lost their market and capital," Nepal said.
Source:Kantipur
The proposal, which contains seven articles, is focused on mutual trade benefit, addressing the issue of the environment, respect for labour laws, expansion of trade by mutual understanding and exchange of information and cutting trade barriers between the two countries. "Foreign Minister Koirala and the entire ministry are very positive about the U.S. offer. The Commerce Ministry has made some recommendations regarding capacity building and technical support to Nepal. If the U.S. agrees, there is no problem in signing the agreement," Nepal said.
Nepal's bilateral trade in the recent past with the U.S. has plunged 80 percent after a heavy duty was imposed on Nepali readymade garments. During a recent visit to the U.S., Foreign Minister Koirala had met with the Chief of Economic Affairs of the U.S. Senate and three Congressmen and Senators and lobbied to regain duty-free access for Nepali readymade garments in the U.S. The discussion with the U.S. Congressmen was very positive and cordial, and we returned with big expectations, he said. "The agreement will help us to regain our lost readymade garment market in the U.S. Also, it will provide easy access to readymade garments. No doubt, it would be a great relief to Nepali entrepreneurs who lost their market and capital," Nepal said.
Source:Kantipur
10 Percent Bonus Share: NABB
The 224th BOD meeting of Nepal Aawas Bikash Bitta Co. Ltd held on 13th October 2009 (2066 Aswin 27) has decided to propose 10 percent bonus share to its shareholders form the profit of fiscal year 2065/66 , after approval from NRB and its upcoming AGM.
The company has posted Rs. 21.733 million net profit and Rs. 34.14 million operating profit as per the fourth quarter financial report of 2065/66. Likewise, the bank has Rs. 144.973 millions as paid up capital and holds Rs. 54.521 millions in its reserve and surplus account.
Source:Jamb News Service
The company has posted Rs. 21.733 million net profit and Rs. 34.14 million operating profit as per the fourth quarter financial report of 2065/66. Likewise, the bank has Rs. 144.973 millions as paid up capital and holds Rs. 54.521 millions in its reserve and surplus account.
Source:Jamb News Service
Political uncertainty deterrent to NRN investment
Non-Resident Nepalis (NRNs) on Tuesday tagged political uncertainty as one big impediment to investment and urged the government to end transition at the earliest. "Certainty is one big boost to investment. The government must seriously work to assure it to NRNs," said Sanjiv Subba, an NRN from Thailand.
On the first day of the fourth NRN Global Conference, the NRNs suggested the government to improve law and order situation to create the investment climate. During the technical sessions of the conference, NRNs on the day volleyed lesser demands than the past, while the government officials too were much more positive. At an interaction on ´Foreign Employment, Migration and Remittance: Challenges and Opportunities in the face of Global Financial Crisis´, experts sought more cooperation from NRNs for better management and expansion of the overseas employment sector. They also asked NRNs to contribute more on exploring new job opportunities and protecting the rights of Nepali workers in the overseas destinations.
"NRNs should make more contribution in exploring new labor destinations and also lobby for the welfare of Nepali workers, especially given that employment opportunities within the country has been shrinking," said Sarat Dash, chief of mission of the International Organization of Migration- an inter-governmental organization. He also asked the Nepali diaspora to uphold the contribution of Nepalis for the development of host countries and also work in close cooperation with Nepali diplomatic missions to ensure rights and safety of Nepali migrants. Although ongoing financial crisis has severely impacted workers from other exporting countries, only 214 Nepalis are reported of being laid-off so far due to the global economic slowdown.
"Nepali diaspora must also engage with the host countries´ government to lobby for the greater rights of Nepali workers and safe return of those who are in trouble in foreign land," said Dash. Mohan Krishna Sapkota, director general of Department of Foreign Employment, said dealing with problems of Nepali workers in trouble is getting more complex as half of around three million Nepali migrants have moved out in different labor destinations undocumented and subject to different mistreatments in overseas destinations.
Open border, lack of training, insufficient diplomatic missions in labor destinations, paucity of government resource to deal with different challenges facing foreign employment sector are some of the problems in foreign employment. Dr Asif Ali Siddiqui, NRN representative from the United Arab Emirates (UAE), proposed establishment of a business network among NRNs to channelize and support productive utilization of remittances. Siddiqui also stressed on the need of producing skilled workers in the country through vocational trainings to ensure better job opportunity in labor destinations. According to conservative estimate, around 75 percent of Nepali overseas workers are unskilled, 20 percent semi-skilled and 5 percent are skilled. Tilak Ranabhat, the president of Nepal Association of Foreign Employment Agencies, urged the NRNA not to undermine the role of Nepali manpower agencies in exploring overseas job opportunities to Nepali youths. Nepali business community, on the other hand, called upon the NRNs to invest on hydropower, infrastructure, manufacturing and other service sectors.
Source:Republica
On the first day of the fourth NRN Global Conference, the NRNs suggested the government to improve law and order situation to create the investment climate. During the technical sessions of the conference, NRNs on the day volleyed lesser demands than the past, while the government officials too were much more positive. At an interaction on ´Foreign Employment, Migration and Remittance: Challenges and Opportunities in the face of Global Financial Crisis´, experts sought more cooperation from NRNs for better management and expansion of the overseas employment sector. They also asked NRNs to contribute more on exploring new job opportunities and protecting the rights of Nepali workers in the overseas destinations.
"NRNs should make more contribution in exploring new labor destinations and also lobby for the welfare of Nepali workers, especially given that employment opportunities within the country has been shrinking," said Sarat Dash, chief of mission of the International Organization of Migration- an inter-governmental organization. He also asked the Nepali diaspora to uphold the contribution of Nepalis for the development of host countries and also work in close cooperation with Nepali diplomatic missions to ensure rights and safety of Nepali migrants. Although ongoing financial crisis has severely impacted workers from other exporting countries, only 214 Nepalis are reported of being laid-off so far due to the global economic slowdown.
"Nepali diaspora must also engage with the host countries´ government to lobby for the greater rights of Nepali workers and safe return of those who are in trouble in foreign land," said Dash. Mohan Krishna Sapkota, director general of Department of Foreign Employment, said dealing with problems of Nepali workers in trouble is getting more complex as half of around three million Nepali migrants have moved out in different labor destinations undocumented and subject to different mistreatments in overseas destinations.
Open border, lack of training, insufficient diplomatic missions in labor destinations, paucity of government resource to deal with different challenges facing foreign employment sector are some of the problems in foreign employment. Dr Asif Ali Siddiqui, NRN representative from the United Arab Emirates (UAE), proposed establishment of a business network among NRNs to channelize and support productive utilization of remittances. Siddiqui also stressed on the need of producing skilled workers in the country through vocational trainings to ensure better job opportunity in labor destinations. According to conservative estimate, around 75 percent of Nepali overseas workers are unskilled, 20 percent semi-skilled and 5 percent are skilled. Tilak Ranabhat, the president of Nepal Association of Foreign Employment Agencies, urged the NRNA not to undermine the role of Nepali manpower agencies in exploring overseas job opportunities to Nepali youths. Nepali business community, on the other hand, called upon the NRNs to invest on hydropower, infrastructure, manufacturing and other service sectors.
Source:Republica
10% Bonus share: Nirdhan Utthan
The BOD meeting of the company held on 13th October 2009 (2066 Aswin 27) has proposed to give 10% bonus share from the profit of fiscal year 2065/66 and is subject to approval from NRB and its upcoming AGM.
According to fourth quarter financial report (2065/66) of the company, it has posted RS. 23.877 million net profit and Rs. 26.747 million as operating profits. Likewise, the company has Rs. 100 million paid up capital and holds Rs. 79.657 millions in its reserve and surplus account.
Source:Jamb News Service
According to fourth quarter financial report (2065/66) of the company, it has posted RS. 23.877 million net profit and Rs. 26.747 million as operating profits. Likewise, the company has Rs. 100 million paid up capital and holds Rs. 79.657 millions in its reserve and surplus account.
Source:Jamb News Service
Kist's 34th and 35th Branch
Kist Bank Ltd. has expanded its braches at Mahendaranagar and Dhangadhi letting total of 35th branches. The inaugurations of branches were done by Chief District Officer (CDO) of Kanchanpur district, Khusmakar Dhakal. The bank which will soon open its branches at Butwal and Kalimati target for 50 branching hub within this fiscal year.
The bank has posted Rs. 88.376 million net profit and Rs. 136.836 million operating profit as per the fourth quarter financial report of fiscal year 2065/66. Earlier, the BOD meeting held on 23rd September 2009 (2066 Aswin 7) has decided to propose 3.50 percent cash dividend to its shareholders from the profit of fiscal year 2065/66.
Source:Jamb News Service
The bank has posted Rs. 88.376 million net profit and Rs. 136.836 million operating profit as per the fourth quarter financial report of fiscal year 2065/66. Earlier, the BOD meeting held on 23rd September 2009 (2066 Aswin 7) has decided to propose 3.50 percent cash dividend to its shareholders from the profit of fiscal year 2065/66.
Source:Jamb News Service
Sunrise, BoAN enter third year
Two years ago, on this very day, the 22nd and 23rd commercial banks — Bank of Asia Nepal and Sunrise Bank — began their operations. Sunrise Bank started with the aim of becoming one of the leading banks by 2012. "It has expanded its reach and added 24 branches in two years," said Sunrise Bank's acting chief executive officer Suman Neupane. Kishore Maharjan led the bank for two years before resigning last week. T M Duggar group is one of the promoters of Sunrise Bank.
Shangai group and Bishal group are the major promoters of Bank of Asia Nepal that aims at providing quality services on demand-based approach. There are 26 commercial banks today but the market is not growing in proportion to the number of players that has been increasing in geometrical proportion recently. The banking yield has gone down because of cut-throat competition.
Source:THT
Shangai group and Bishal group are the major promoters of Bank of Asia Nepal that aims at providing quality services on demand-based approach. There are 26 commercial banks today but the market is not growing in proportion to the number of players that has been increasing in geometrical proportion recently. The banking yield has gone down because of cut-throat competition.
Source:THT
Kasthamandap Dev Bank turns 3
Kasthamandap Development Bank completed two years of operation on Sunday. Issuing a statement, the bank said it had managed to open eleven branches in different parts of the countries apart from its headquarters in New Road, Kathmandu. The bank said it had managed to steadily increase deposits and loans and had also operated in profit right from its beginning.
The bank also operates evening counter services and provides ATM and other ´modern´ banking services targeted at all classes of clients, it said.
Source:Republica
The bank also operates evening counter services and provides ATM and other ´modern´ banking services targeted at all classes of clients, it said.
Source:Republica
BoK launches Visa credit card
Bank of Kathmandu (BoK) has started issuing BoK Visa Credit Card, it said in a statement Sunday. Announcing the launch of the new card, BoK said that a portion of the fees from the card will be used to support the fight against climate change through programs of National Trust for Nature Conservation (NTNC). The card is also valid in India, the bank said. BoK currently offers banking service through 31 POS throughout the country and has ATMs in 27 locations.
Source: Republica
Source: Republica
Note shortage ends: Nepali Bankers
Nepal Bankers´ Association (NBA), the apex body of Nepal´s 26 commercial banks, has announced that the nearly month-long shortage of notes has come to an end after the central bank received a huge supply of fresh notes.
A press statement issued by the association on Friday said that the supply of bank notes was back to normal. As the net inflows of notes to the bank have increased remarkably after the end of Dashian along with injection of fresh notes, there is shortage of notes in the market, said the statement. The statement has further said that the depositors, who were unable to take enough cash out from the banks as per their need due to shortage of notes, can withdraw as much money as they wish either from banks or from Automated Teller Machines (ATMs) now.
Earlier, the Nepal Rastra Bank, which has been using its means to deal with the historic shortage of bank notes, received a huge consignment of 500-rupee notes worth Rs 15.5 billion on Thursday, ending shortage of notes in the country. The notes printed by a French note printer Oberthur Technologies were received with a delay of over two months. The central bank will also receive a fresh consignment of 1000-rupee notes printed by an Indonesian note printer by the end of 2009. The NRB even had to bring 940,000 units of 1000-rupee stored notes carrying image of former King Gyanendra into circulation to deal with the shortage.
Source:Republica
A press statement issued by the association on Friday said that the supply of bank notes was back to normal. As the net inflows of notes to the bank have increased remarkably after the end of Dashian along with injection of fresh notes, there is shortage of notes in the market, said the statement. The statement has further said that the depositors, who were unable to take enough cash out from the banks as per their need due to shortage of notes, can withdraw as much money as they wish either from banks or from Automated Teller Machines (ATMs) now.
Earlier, the Nepal Rastra Bank, which has been using its means to deal with the historic shortage of bank notes, received a huge consignment of 500-rupee notes worth Rs 15.5 billion on Thursday, ending shortage of notes in the country. The notes printed by a French note printer Oberthur Technologies were received with a delay of over two months. The central bank will also receive a fresh consignment of 1000-rupee notes printed by an Indonesian note printer by the end of 2009. The NRB even had to bring 940,000 units of 1000-rupee stored notes carrying image of former King Gyanendra into circulation to deal with the shortage.
Source:Republica
NIDC opens branch
NIDC Capital Markets Limited has opened its first branch in Pokhara. CA member Surya Bahadur KC inaugurated the branch amid a function on Friday. The function was also attended by chairman of the company Shivaji Roy Yadav, says a press release.
The company that has been providing merchant banking services had recently completed 17 years of services. It has long served the capital market as issue manager, share guarantor and portfolio manager. It also manages a mutual fund. The company operates with paid up capital of Rs 131.52 million and has been providing profit return worth 40 percent to its shareholders.
Source:Republica
The company that has been providing merchant banking services had recently completed 17 years of services. It has long served the capital market as issue manager, share guarantor and portfolio manager. It also manages a mutual fund. The company operates with paid up capital of Rs 131.52 million and has been providing profit return worth 40 percent to its shareholders.
Source:Republica
Universal Finance: Name Changed
Universal Finance Ltd. has changed its name from Universal Fin. Ltd. (Bittiya Sanstha) to Universal Finance Ltd (Source: Jamb News Service)
Alpic Everest Finance: Notice to Shareholders
Alpic Everest Finance Co. Ltd. has issued notice to share holders who were not presented before to collect dividend of past years (Source: Jamb News Service)
Nava Durga Finance: Right Share Listing
Nava Durga Finance Co.Ltd. has listed its 544305 units right share in Nepal stock exchange for trade(Source: Jamb News Service)
Alliance Insurance: Right Share Issue
Alliance Insurance Co. Ltd is issuing 1:1 right share from 4th Nov to 8th Dec, 2009 (2066, Kartik 18 to Mangsir 23)(Source: Jamb News Service)
World Mer. Banking and Finance: Right share on Auction
World Mer. Banking and Finance Ltd. is selling 5340 units shares on auction. These are the unsubscribed shares after its right issue.(Source: Jamb News Service)
Machhapuchchhre Bank: Promoter share sell notice
Machhapuchchhre Bank Ltd. has issued notice to its promoter shareholders who want to purchase promoters shares sell from its few promoters. (Source: Jamb News Service)
Alliance Insurance: Book Closure Notice
Alliance Insurance Co. Ltd. is closing its book on 26th October 2009 (2066 Kartik 9)for the purpose of issuing 1:1 right share.(Source: Jamb News Service)
Sagarmatha Merchant Banking & Finance: Right Share Allotment
Sagarmatha Merchant Banking & Fin. has allotted its right share (1:1.5) to its shareholders.(Source: Jamb News Service)
Nepal Share Markets: Right Share in Auction
Nepal Share Markets Ltd. is selling 22296 units shares on auction. These are the unsubscribed shares after its right issue (Source: Jamb News Service)
Nepal Share Markets: Promoter share sell notice
Nepal Share Markets Ltd. has issued notice to its promoter shareholders who want to purchase promoters shares sell from its few promoters (Source: Jamb News Service)
Bank of Kathmandu: Notice to Promoter Shareholder
Bank of Kathmandu has issued notice to its promoter shareholders who want to purchase promoters shares sell from its few promoters.(Source: Jamb News Service)
Standard Chartered Bank: Upcoming 23rd AGM
Standard Chartered Bank Nepal Ltd. has announced its 23rd Annual General Meeting to be held on 4th November 2009 (2066 Kartik 18).(Source: Jamb News Service)
Siddhartha Development Bank: Logo Changed
Siddhartha Development Bank ltd. has changed its logo upon consent of its management team. (Source: Jamb News Service)
Shree Investment Finance: Notice to Shareholders
Shree Investment Finance Co. Ltd has issued notice to its shareholders to collect dividend of 2059/60 to 2064/65 who were not presented before.(Source: Jamb News Service)
Shree Investment Finance: Upcoming 15th AGM
Shree Investment Finance Co. Ltd has announced its 15th Annual General Meeting to be held on 13th Nov. 09 (2066 Kartik 27)(Source: Jamb News Service)
Annapurna Bikash Bank: Notice to Professionals
Annapurna Bikash Bank Ltd. has issued notice to interested management professional approved by NRB to be part of its management team (Source: Jamb News Service)
IME: Bonus Share Certificate Distribution
IME Financial Institution is distributing 20 percent bonus share certificate from 12th October 2009 (2066 Aswin 26) (Source: Jamb News Service)
IME: Right share on Auction
IME Financial Institutions is selling 5398 units shares on auction. These are unsubscribed shares after right issue