Board meeting of Nepal Rastra Bank (NRB) on Monday decided to issue Letter of Intent (LoI) to Century Bank. An NRB source said the NRB board decided to issue LoI, with some conditions required to be fulfilled soon.
The bank must have completed the procedure of receiving the operating license within nine months and must complete all other legalities and manage physical infrastructures, as per the new licensing policy issued by the NRB.
Century's CEO Ganesh Kumar Shrestha said that they were preparing to start operations in June. "We are in negotiations with parties for our corporate office and in the process of choosing the banking software," he said.
Source:eKantipur
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Saturday, January 16, 2010
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