Banking Activities March 2015

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Himalayan Bank’s Representative Office in Malaysia
Himalayan Bank Limited has started the operation of its Representative Office in Kuala Lumpur, Malaysia. Chairman of the Bank Manoj Bahadur Shrestha inaugurated the Office Medan Pasar, Kuala Lumpur amidst a function. Addressing the inaugural function, Shrestha said that establishment of the Representative Office will help boost trade between two countries and it can play a catalytic role in promoting investment areas like tourism, trade, financial services, joint ventures, and franchises besides the regular remittance services. Nepali Ambassador to Malaysia Dr Niranjan Man Singh Basnyat, Nepali businessmen in Malaysia, executives of partner remittance companies and Board members of the Bank among others were present in the inaugural function. 
 
NMB Bank Partners With IFC 
NMB Bank has partnered with IFC to help boost international trade business for the bank and support small and medium business clients. With the partnership, IFC, a member of the World Bank Group, will provide USD 5 million trade finance facility to NMB Bank under its Global Trade Finance Program. NMB Bank will establish trade partnerships with over 250 international banks through this program. “The Bank’s expanding presence in trade finance makes it a key partner for IFC. Together we can support strengthening of Nepal’s financial sector,” said Chief Executive Officer of NMB Bank Upendra Poudyal. IFC’s Global Trade Finance Program promotes trade in emerging markets, complementing the capacity of banks to ensure liquidity to export-oriented small and medium enterprises. 
 
Sunrise Branch Relocates Branch
Sunrise Bank has relocated its Kakarvitta branch from Bhahundangi Road, Mechinagar to Shantipath, Mechinagar. The branch was jointly inaugurated by President of Mechi Chamber of Commerce and Industry Bijay Dalmia and Head-Regional Office, Eastern Region Branches of the Bank Sudhir Agrawal. The Bank said in a statement said the branch was relocated with an aim to provide modern banking services along with like hire purchase, remittance, deposit and loans, among others in the area. 
 
Siddhartha Bank and CREF Sign Agreement
Siddhartha Bank Limited has signed an agreement with Central Renewable Energy Fund (CREF) as a Partner Bank in CREF’s Financial Management Mechanism. The agreement was signed by Chief Executive Officer of the Bank Surender Bhandari and Head of CREF Secretariat Prithvi Gyawali at the Bank’s head office. As a Partner Bank, the Bank will offer credit facilities for installation of renewable energy technologies to end users as well as manufacturers, distributors and installers.  
 
BoK’s ‘Samriddha Jeevan’ Account
Bank of Kathmandu has introduced a new account titled ‘Samriddha Jeevan Banking Sewa’ which is targeted to individuals of age 50 and above and those who have retired from their jobs. According to the Bank, the product’s primary motive is to save the fund for higher interest yield and the account aims to provide more attention and convenience to its customers. The account can be opened with a minimum balance of Rs 10,000 in saving deposit and Rs 100,000 for fixed deposit account. The product comes with attractive interest rates, free check book, free Debit card, 50% discount on credit card, 25% discount on locker charges and facility of utility bill payments.
 
Everest Bank Installs 3 ATMs 
Everest Bank has installed ATMs at three different locations in Kathmandu valley. The new ATM service has come into operation at Sharemarket Complex Putalisadak, Tripureshowar Chowk and Mangalbazar, Patan. With this, the total number of ATM of the Bank has now reached 80. Senior Director of the Bank Arun Man Sherchan inaugurated the ATMs amidst a function. The inaugural function was attended by Chief Executive Officer of the Bank, local businessmen and senior officials of the Bank among others. Everest Bank is providing its banking services through its network of 53 branches, 5 extension counters and 24 revenue collection counters. 
 

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