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Banking Activities January 2015

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Standard Chartered’s Walkathon 2014
Standard Chartered Nepal organized a fund raising programme ‘Walkathon 2014 - Walk for a Brighter Tomorrow’ on 22nd November. According to the Bank, the Walkathon was organized to raise funds in partnership with its stakeholders to increase awareness on avoidable blindness and to encourage the visually challenged people. The funds raised from this event will go to the Bank’s ‘Seeing is Believing’ initiative through which eye care services are being continued. The event witnessed the participation of the staff of the Bank, customers, partner organizations and Maiti Nepal among other participants. The Walk was attended by almost 400 people and started from New Baneshwor branch of the Bank and ended at Lazimpat branch. 
 
Civil Bank’s Branchless Banking at Lamosanghu
Civil Bank has started its ninth branchless banking outlet in Lamosanghu of Sindhupalchowk. The service was inaugurated by Senior Executive Officer of the Bank Govinda Gurung. Through this service, customers of the Bank will be able to avail facilities such as withdrawal of funds, make deposits, carry out fund transfers from one account to another, recharge mobile phones, avail facilities of ATM cards, remittance facility, MobilemaiNagad service and SMS alert among others. The Bank has also informed that it has appointed its staffs in the area for facilitating micro credit to small and medium enterprises and agro-businesses.
 
Nepal SBI Bank Supports Students
Nepal SBI Bank Ltd has provided scholarships worth Rs 180,000 to 15 students scoring highest mark in SLC exam of 2070 from Shree Nandi Madhyamik Vidhyalaya, Naxal for pursuing their higher education. Regional Manager, Central Region of Nepal of SBI Bank Sushil Sharma handed over the cheques of Rs 11,000 each to the students in presence of Chairman of School Management Committee, Head Master and teachers of the school. The Bank has been providing the scholarships for last five years.   
 
Mega Bank Launches ‘Mega Saral Share Dhito Karja’
Mega Bank Nepal Limited has launched a new loan product ‘Mega Saral Share Dhito Karja’ (Margin Lending) under its Consumer Lending Unit. According to the Bank, the product is designed to cater to the needs of individual borrowers who need financial facilities from the Bank for various purposes against the security of the shares/stocks of class ‘A’ commercial banks. The Bank is also offering an introductory interest rate of 8.5% per annum for the launch of the product which can be availed from all branches inside Kathmandu valley.
 
Sanima Introduces Mobile Money App
Sanima Bank has introduced its Mobile Money App which the Bank claims to be the first Nepali Mobile Banking App in Nepali language. According to the Bank, the App facilitates customers to execute banking transaction more easily with facilities of balance enquiry, transaction alert, fund transfer, mobile recharge and utility bill payments. It also enables to contact different branches of Sanima directly through the application. In addition, Sanima Debit Card Holders can register the SMS banking facility directly through the mobile. The application can be downloaded from App store for IOS and Play Store for Android.
 
Laxmi Bank's 39th Branch in Bhojpur
Laxmi Bank has opened a new branch in Bhojpur District. “The Bank recognizes Bhojpur as one of the most vibrant and emerging markets in the country, and this branch will help strengthen the Bank’s presence in the eastern Nepal,” says a statement from the Bank. With this, the Bank now has 39 branches across 24 districts of the country. In addition to the branches, the Bank has a network of 50 ATMs and 2 service counters.
 
ICRA Reaffirms NIC Asia’s Credit Rating
ICRA Nepal (International Credit Rating Agency Moody’s Nepal Associate) has reaffirmed the rating of ‘LA-‘ assigned to ‘7.25% NIC ASIA Bond 2077’ after their annual surveillance exercise. According to the Bank, instruments with this rating are considered to have adequate degree of safety regarding timely servicing of financial obligations and carry low credit risk. The Bank had issued the Rs 500 million 7 year bond in fiscal year 2013/14 with a coupon rate of 7.25% per annum.

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