February 15: Siddhartha Bank has established a new branch at Gaushala of Mahottari as mandated by Nepal Rastra Bank to commercial banks to open branches in different locations of the country where access to banking services is not available.

 The branch came into operation from February 14, reads a statement issued by the bank.

This branch, in accordance with the policy of Nepal Government and Nepal Rastra Bank, will manage the accounts and financial transactions of local government, according to the bank. Likewise, the branch shall offer a wide array of banking products and services, which will benefit a large number of customers residing in and near Gaushala. 

With the opening of this branch, the bank claimed that its network throughout the country has expanded to 93 branches, three extension counters, 105 ATMs, 99 branchless banking locations and more than 650 POS machines. As per the unaudited financial report up to the first seven months of the current fiscal year, the bank said it has recorded a deposit portfolio of Rs 87.05 billion and a loan portfolio of Rs78.56 billion.