Banking Activities September 2015

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Kaski and Kamana to Merge
Kaski Finance and Kamana Bikas Bank are set to merge into a national-level development bank. The merger agreement was signed on August 3. The new bank will be named Kamana Bikas Bank, and it will use the logo of Kaski Finance for official purposes. The head office will remain in Pokhara, said CEO Toyaraj Adhikari.

Kumari Bank Opens 2 Branches 
Kumari Bank Limited has opened two new branches in Kalanki and Thali of Kathmandu. The bank, in a statement, said it has become the first private commercial bank to have a branch in Thali. Kumari has 36 branches, two extension counters and 40 ATMs.

Kumari Bank Distributes Relief
Kumari Bank distributed galvanised sheets to various schools in Gorkha to help them rebuild and reconstruct classrooms affected by the recent earthquake. The bank distributed 200 sheets under its ‘Gorkha Model’ campaign, as part of the district administration’s quake relief programme. Gorkha Chief District Office Udhav Singh Timlisina and the bank’s board members Sobha Kant Dhakal and Santosh Kumar Lama were also present during the programme. The bank has also distributed galvanised sheets to earthquake survivors in Sindhupalchowk, Nawaparasi and Dhadhing.

NMB Bank Adds DEMAT to Mobile Banking 
NMB Bank has added additional features to its Mobile Banking service by allowing people to view Demat accounts through mobile phones. The bank claims to be the first bank in the country to introduce the facility. Accessing Demat accounts through Mobile Banking makes it convenient for shareholders to track their stock/shares with ease, anytime, anywhere through Mobile Banking. Once the shareholders open a Demat account with the bank it becomes easier for them to keep their shares in a de-materialized form and carry out their share transactions later. Additionally Demat account holders will directly get their right shares, stock dividends listed in their account as well. Demat accounts can be opened from any of NMB Bank’s branches and NMB Capital Limited, reads the press release. 

Citizens Bank Opens 55th Branch
Citizens Bank has opened a branch in Gaushala, Mahottari, which is its 55th branch. The bank’s Deputy CEO Ganesh Raj Pokharel inaugurated the branch. Customers can use avail all banking including facilities remittance and demand draft from the new branch says the bank. Citizens now has 22 branches in Kathmandu and 33 outside the capital. It has 45 ATM counters. During the ceremony, the bank also donated 200 desktop computers to Shree Prashad Singh Secondary School in Aurohi, Mahottari.

Prabhu Adds Three Branches
Prabhu Bank has opened three branches in Kohalpur, Besisahar and Birendranagar. According to the bank’s press release, the three new branches were inaugurated by Director Rishiram Gautam, Promoter Rambahadur Pandey and Director Pushpa Bahadur Pradhan respectively. Similarly, on August 16, the bank started its branch in Sandhikharka of Arghakhachhi district.

JME Signs Remit Deal with Vibor and City
Japan Money Express (JME) has signed remittance agreements with Vibor Development Bank and City Development Bank on August 12. JME Chairman Deependra Joshi, Jhalak Prasad Khanal CEO of Vibor Development Bank and CEO Bishwo Mohan Adhikari of City Development Bank signed the agreement. With this agreement, remittance services will be provided from nine Vibor Development Bank branches, 17 City Development Bank branches and more than 1500 JME agencies according to the business development chief of JME Pratap Shrestha.

Mahalaxmi and Alpine Development Merge
Mahalaxmi Finance and Hetauda based Alpine Development Bank signed a Memorandum of Understanding on August 16 to merge the two banks. Sanjay Giri of Mahalaxmi Finance and Navaraj Raut of Alpine Development Bank signed the agreement. The new entity will be known as Mahalaxmi Finance Ltd.

Society Development Bank Shifts Two Branches
Society Development Bank has shifted its Kamaladi branch to the Sunrise Bizpark building in Dillibazar. The bank started operating the branch on August 2. The newly located branch was inaugurated by the chairman of the bank, Sushil Raj Parajuli amid a ceremony.  Similarly the bank’s Kuleshower branch has also been shifted 100 metres north from where it was originally located.

Mirmire Adds Three Branches
Mirmire Development Bank has added three branches. The new branch,  Dhading, Gulmi and Palpa were inaugurated in separate programmes by the chairman of the board, Tek Bahadur Bohora. The bank now has a total of 14 branches. 

City Development Bank in Bandipur
City Development Bank has opened its 15th branch in Bandipur, Tanahun. Nepal Rastra Bank Deputy Governor Mahaprasad Adhikari inaugurated the branch by handing over scholarships to students of Bhanu Higher Secondary School, musical instruments to local mother groups and bhajan groups on behalf of the bank.
The bank has a paid-up capital of Rs 460 million and has collected Rs 5.6 billion as deposits and loaned Rs 4.16 billion. It has an operating profit of Rs 241.5 million. 

Laxmi Bank’s New Branch at Samakhusi
Laxmi Bank has opened a branch in Samakhusi, Kathmandu. The new branch is compatible with mobile and internet banking. In FY 2014/15, the bank collected 36.9 billion savings and invested 31.5 billion as loan. The bank earned around 850 million operating profit. 

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