New Business Age

Banking Activities March 2016

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BOK in Lamki and Rajapur
Bank of Kathmandu (BoK) has established branch offices at Kailali in Lamki and Rajapur in Bardiya. Director of the bank Govinda Prasad Sharma inaugurated the Lamki branch office while director Prof. Dr Hem Raj Subedi opened the Rajapur branch in separate programmes  on Feb 18, the bank said. The new branches will focus on enhancing banking services in the agriculture sector. Cash deposits, loan transactions and remittance services along with agriculture-based loans for farmers will be available at the branches. BoK has recently been expanding its banking services in rural areas supported by the Sakchyam Access to Finance programme.

Citizens Bank Reaches Out in Quake Hit Areas 
Citizens Bank International (CBI), with support from Sakchyam Access to Finance, has started branchless banking services in Nuwakot, Rasuwa and Dolakha districts  to grant earthquake victims easy access to banking services. The bank has launched the service in 87 locations so far.  

Century Bank Rebuilds Traffic Island
Century Commercial Bank Limited has rebuilt the traffic island at Tripureshwor main chowk which was destroyed in last year’s earthquake. As part of its Corporate Social Responsibility (CSR), the bank has a five year agreement with Kathmandu Metropolitan City for the reconstruction and maintenance of the area. Century Bank has earned operating profits of Rs 234 million as per its quarterly report. The bank has collected Rs 24 billion in deposits and mobilised Rs 204 million in loans and advances during the period. At present the bank has 31 branches, 28 ATM counters, 11 branchless banking outlets and two extension counters.

Mega Bank in Jogbuda
Mega Bank Ltd, under the Sakchyam Access to Finance programme, has opened a branch at Jogduda in Dadheldura district to bring modern banking facilities to rural areas in Nepal, said the bank. Vice president of Mega Louis Berger Charles Bell inaugurated the bank’s new outlet. This is, apparently, the first commercial bank established in Jogbuda.

Shangrila in Gularia and Imadol
Shangrila Development Bank has opened new branches in Imadol, Lalitpur and Gularia in Bardia district. Chief executive officer Rajendra Prasad Poudel said the openings were part of the bank’s plan to spread its facilities all over the country and to provide easily accessible banking services to  customers. Similarly, the Gularia branch also provides micro-finance services.

Kathmandu Finance at Bouddha, Dharn & Damak
Kathmandu Finance has opened branches at Bouddhanath of Kathmandu, Dharan of Sunsari and Damak of Jhapa. 
Speaking at the opening  of Dharan branch on Feb 15, chief executive officer of the company Ram Kumar Rai highlighted the bank’s present, past and future plans and policies, emphasising how it will further try to enhance efficient customer services which already include ATM and mobile banking services. The bank’s head office is located in Dillibazar, Kathmandu.

United Finance Marks 22 Years
United Finance Ltd marked its 22 anniversary at a gala ceremony in the capital on Feb 23. The bank said it also distributed school furniture and education materials to children and organised a blood donation programme as a part of its corporate social responsibility. Similarly, its branch offices also organised various programmes to mark the anniversary. 

Nepal SBI Joins NCHL-IPS
Nepal SBI Bank Limited has joined the Nepal Clearing House Limited interbank payment system (NCHL-IPS).  V.K. Tyagi, Deputy Chief Executive Officer of Nepal SBI Bank and Nilesh Man Singh Pradhan, Chief Executive Officer of Nepal Clearing House signed the agreement on Feb 24. Nepal SBI said it joined the IPS to provide modern banking services to its customers. Banks and financial Institutions (BFI) associated with the Clearing House’s IPS can provide direct credit and direct debit services to their customers, among other transactions. 

Prabhu Bank’s Wealth Management Service
Account holders at Prabhu Bank Limited can now opt for a new service to manage their funds. To get the Wealth Management Service, introduced in February, customers should get a ‘wealth card’ issued by the bank, and they should deposit a certain amount fixed by the bank in any of the bank’s branches. Wealth card customers will be able to get advice from experts regarding share markets, insurance policies, mutual funds, retirement funds and other profitable investment opportunities. 

Such customers will be able to get special priority as well as discounts on the service charge of some service providers with whom the bank has special agreements. They include Buddha Air, Air Asia, Bajeko Sekuwa, Grand Hotel, Bhojan Griha, Hotel Sangrila and Resort, Boleno Store, The North Face, Raymond shop, Grandy International Hospital, Norvic International Hospital and Kantipur Media Group.

Prabhu Bank Starts Integrated Transaction after Grand Bank Merger
Prabhu Bank has completed the merger of Grand Bank into it and started integrated transaction from February 12. Speaking at a programme organized to mark the occasion, Chairman of Prabhu Bank Devi Prakash Bhattachan expressed happiness for the successful merger. Now the bank has total paid-up capital of Rs 5.24 billion, deposits of Rs 56 billion and loan Rs 41 billion. The bank has now 79,000 shareholders and 136 branches as well as 122 ATM counter and more than 750,000 customers.

Chairman Bhattachan said that the bank will not go for any more big mergers in this fiscal year. “But will re-think if any request comes up to take over a problematic institution,” he added. 

Prabhu bank has merged into it eight institutions till now. Earlier, it was formed after KIST Bank was merged with Prabhu Development Bank, setting the first instance of a class A financial institution merging into a Class B financial institution.    

“This merger campaign has spread positive message in the Nepali banking sector,” said bank CEO Ashok Serchan.

Siddhartha Bank Adds 7 Branches
Chairman Manoj Kumar Kedia of Siddhartha Bank inaugurating Parasi branch
Siddhartha Bank has opened seven branches in February. The new branches are located at Bauniya in Kailali, Parasi in Nawalparasi, Kohalpur in Banke, Khadbari in Sankhuwashabha, Kshireshowr in Dhanusha, Urlabari in Morang and Simara in Bara. 

Civil Bank, ipayReliable Tie-up
Civil Bank Limited and ipayReliable have signed a remittance service agreement allowing customers to use Civil Bank Remit services from any of the banks branches. Kishore Maharjan, CEO of Civil Bank Limited and Indra Sharma, Executive Director of ipayReliable signed the agreement. 

Siddhartha Enters IPS
Siddhartha Development Bank (SDB) has signed an agreement with Nepal Clearing House Ltd (NCHL) to enter the interbank electronic payment system (IPS). According to a press statement, Neelesh Man Pradhan Chief Executive Officer of NCHL and Ajaya Kumar Mishra Chief Executive Officer of SDB signed the pact.  Customers of the bank and institutions affiliated to it can perform most money transactions through this service, said the bank.

Nepal SBI & Lumbini Bank Support Library
NSBI Chairman Sharma with bank's officers and Ratna Pustakalay staff after handing over the gift (above). Lumbini Bank Chairman Shrestha with the Pustakalay Chairman Rana (below).

Nepal SBI Bank Limited and Lumbini Bank Ltd. have provided support to Ratna Pustakalaya, a library located at Baneswore of Kathmandu. NSBI has contributed four sets of book shelves to the library while Lumbini Bank Limited has provided three research computers to help it in its efforts to establish an e-library. 

Hasana Sharma, Chairman of NSBI Bank, and Prakash Shrestha, Chairman of Lumbini Bank, handed over the gifts to Sashi Bikram Rana, Chairman of the library amidst separate programmes recently.

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