New Business Age

Banking Activities October 2014

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Prabhu Bank Commences Operation 
Prabhu Bank Limited, formed after the merger between Kist Bank, Prabhu Bikas Bank, Gaurishankar Development Bank and Zenith Finance has started its operation from 15th September. The Bank was inaugurated by Nepal Rastra Bank’s Governor Yubaraj Khatiwada. “Though merger is a positive step forward, it should not be looked upon as the solution. The merger should be considered as an opportunity for the institutions to improve their performances,” said Khatiwada in the inauguration.  The authorized capital of the Bank is five billion rupees and its paid up capital is 3.20 billion rupees. Prabhu Bank now has 112 branches and 108 ATM counters across the country.
NMB’s Instalment Purchase Facility on Debit Card 
NMB Bank has launched instalment facility for its Debit Card holders. The facility will enable the Bank’s customers to convert their high value purchase transaction from their Debit Card into easy Equal Monthly Instalment (EMI). “As the festival season is around the corner, instalment purchase facility on Debit Card will help our customers to plan their festive shopping into easy monthly instalment with flexible tenure of three to 12 months,” said a statement issued by the Bank. The facility is also available in recently launched ‘NMB Bank Manyajan Muddati’ product.  
Civil Bank’s ‘Gold ma Silver Dhamaka’ Offer
Civil Bank Limited has announced a new scheme titled ‘Civil Gold ma Silver Dhamaka’ on the occasion of Dashain and Tihar. Under this scheme, a silver coin will be gifted to all the customers who have opened Civil Bank Gold Savings Account from 17th September 2014. Apart from this, Civil Bank Gold MasterCard will also be provided free of cost. The account requiring a minimum balance of Rs 50,000 offers an inertest rate of five per cent per annum. 
AAMO Delegates Visit Siddhartha Bank
Siddhartha Bank Limited in coordination with Management Association of Nepal (MAN) conducted an interaction and observation programme on 19th September 2014 for the delegates of Asian Association of Management Organization (AAMO). During the interaction program, CEO of the Bank Surender Bhandari presented an overview of Nepal’s banking industry with special reference to Siddhartha Bank’s history, areas of operations, networks, business portfolio and financial highlights. Both the Bank and the AAMO delegates shared their management practices in the programme. AAMO is an independent, non-political and non profitable association of National Management Organization (NMO's) in different countries promoting development of professional management in the Asia Pacific Region. 
BoK-Nimbus Agreement
Bank of Kathmandu Ltd (BOK) and Nimbus have signed an agreement to launch ‘BOK Kissan Credit Card Scheme’. The agreement will provide small scale farmers with convenient access to credit facilities, and allow them to utilize it to purchase various agricultural inputs at Nimbus Krishi Kendra. The agreement was signed by CEO of Bank of Kathmandu Ajay Shrestha and MD of Nimbus Anand Bagaria. “Serving individual farmers through customized products and services have been one of our focus areas. This credit card facility will facilitate farmers for their regular purchases like seeds and fertilizers among others,” said Shrestha in the signing event.  “We want to increase the reach of farmers to banking and this joint initiative with BOK is the first step towards that goal,” said Bagaria. 
Sanima Bank’s 29th Branch in Mahendranagar
Sanima Bank Limited has opened its 29th branch at Mahendranagar, Kanchanpur. The branch was jointly inaugurated by the Brand Ambassadors of the Bank Madan Krishna Shrestha and Hari Bansha Acharya (MAHA), Chairman of the Bank Binaya Kumar Shrestha and CEO Bhuvan Dahal. In the inaugural event, Shrestha and Dahal expressed gratitude to customers and stakeholders of the Bank for their support and patronage.  
NIC Asia’s 57th Branch in Damauli
NIC Asia Bank has opened its 57th branch in Damauli. The branch was jointly inaugurated by Director of the Bank Binod Kumar Pyakurel and CEO Sashin Joshi. According to a press statement from the Bank, Damauli branch will offer all the modern banking services to the residents of the area. 

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