Banking Activities December 2015

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Standard Chartered Bank Wins ‘Bank of the Year’ Award
Standard Chartered Bank Nepal has won the prestigious “Bank of the Year” award at The Banker Awards 2015.  The award was announced at a grand gala dinner programme held at an award ceremony in London on December 2, a press release from the bank states.

Now in its 16th year, The Banker Awards has become one of the most prestigious events within the industry. The Banker is the world's premier banking and finance magazine, read in over 180 countries around the world, The Banker is the key source of data and analysis for the industry. The release further states, in addition to the Bank of the Year 2015 award, the bank has also won three other prestigious awards this year- 2015 Euromoney Awards for Excellence, World’s Best Emerging Market Banks for 2015 from Global Finance and the World’s Best Consumer Digital Banking Awards for 2015 in Nepal from Global Finance Magazine.  This is the fourth time Standard Chartered Bank Nepal has won the `Bank of the Year’ award. The Bank had earlier won this award in 2002, 2009 and 2013.  

Chief Executive Officer of Standard Chartered Bank Nepal Limited, Joseph Silvanus said, “We are delighted to receive this award which is a testimony of our commitment to serve our clients in this market consistently over so many years”.  Silvanus further added, “We are proud to be able to make positive contributions in Nepal.”

Standard Chartered Nepal Organises Walkathon 2015
Standard Chartered Bank Nepal Ltd organised a fund-raising event, Walkathon 2015 - Walk for a Brighter Tomorrow, on November 28. The bank describes the walkathon as an “initiative to raise funds in partnership with its stakeholders to increase awareness amongst the public on the subject of avoidable blindness and an effort to reduce stigma and encourage the visually challenged people.” According to a press release, the funds raised from this event will go towards the bank’s ‘Seeing is Believing’ initiative through which eye and eye care services are being continued.

It may be recalled here that under the Bank’s Seeing is Believing initiative, Biratnagar Eye Hosptial received a financial support of USD one million for the expansion of its project. Similarly, the bank’s additional Seeing is Believing project of USD one million (Rs 105 million) is currently in progress with Tilganga Institute of Ophthalmology for funding their major expansion project covering Bhaktapur and Nuwakot districts.  

Tara Management Pvt. Ltd. was the Main Sponsor of this event whereas National Insurance Company Ltd. and Viswakarma Cement were the Sponsors; Umrao Data Centre and Nepal Dhaka Udhyog Pvt Ltd. supported the event whilst The Himalayan Times was the Exclusive Media Partner. The bank’s staff, customers, partner organisations supporting this event including Maiti Nepal and various other stakeholders participated in the vent. The Walk, which was attended by approx. 400 people started from the bank’s branch office at Lazimpat to the Head Office in New Baneshwor.

Jyoti and Hamro Bikash Bank Agree to Merge  
Jyoti Bikash Bank and Hamro Bikash Bank have signed an agreement to merge the two banks. Chairman of Jyoti Bikash Bank, Dhurba Kumar Uprety and Hamro Bikash Bank Chairman, Hari Prasad signed the pact at a programme in the capital on November 27. According to the agreement, the procedure for merger will be concluded by Mar/April 2016 and the following April/May will see the start of joint transactions. The national level Jyoti Bikash Bank and regional level Hamro Bikash Bank will be renamed Jyoti Bikash Bank after the merger and its head office will be at Kamaladi, Kathmandu. Similarly, the total paid-up capital will be Rs 1.4 billion and the total deposit will be Rs 7.42 billion.

Triveni Bikas Bank Ltd Branch in Bhakundebeshi
Triveni Bikas Bank has launched a new branch in Kavre at Bhakundebeshi. The 12th branch of the bank was inaugurated by the bank’s chairman, Lank Bahadur K.C. The branch was opened to provide banking services to rural areas.

BUDB, Fewa Development Bank to Merge
Business Universal Development Bank (BUDB) and Fewa Development Bank (FDB) have signed an agreement to merge the two banks. Dinesh Shanker Palikhe, Director of BUDB and Bindu Kumar Thapa, Director of FDB signed the agreement on Nov 17. Following the agreement, the two banks jointly presented the merger application to the Nepal Rastra Bank. After completing the merger, the new bank will start operating from April 13, 2016, according

to the agreement. After the merger, the paid up capital of the new entity will stand at Rs 1.75 billion, excluding the proposed bonus shares. Likewise, deposits and loans will amount to Rs 16.43 billion and Rs 14.5 billion, respectively.

Century Bank Opens Extension Counter
Century Bank Ltd has opened its first extension counter located at Guthi Sansthan, Tripureshwor. The bank has also chalked out an agreement with Kathmandu Metropolitan City to reconstruct and maintain the statue of King Tribhuvan at Traffic Island in Tripureshwor. The statue was destroyed by the April 25 earthquake. The commercial bank was established in 2011 and operates out of 31 branches, 26 ATM points and 10 branchless banking outlets and, now, one extension counter.

Four Development Banks to Merge with NCC
Four development banks have announced their merger plans with NCC Bank Pvt Ltd in order to meet the central bank’s paid up capital ceiling of Rs 8 billion in the next two years. The four banks deciding to merge with NCC are Infrastructure Development Bank, Apex Development Bank, International Development Bank and Supreme Development Bank. The merged entity will have a paid-up capital of Rs 5.03 billion.

The Memorandum of Understanding (MoU) was signed by Infrastructure’s Chairman Iman Singh Lama, Apex’s Chairman Bishnu Prasad Dhital, Supreme’s Chairman Chandra Prasad Bastola and International’s Chairman Madhav Prasad Bhatta  and NCC Bank’s management committee chief Laxmi Prapanna Niraula.

Sindhu Bikash Bank Approves Bonus Shares
The 6th AGM of Sindhu Bikash Bank held on November 15 has approved a 12.5 percent bonus share and 0.6578 percent cash dividend to its shareholders. Similarly, right shares will be issued at a 1:1 ratio, according to the bank. Chairman of the bank, Rajendra Kumar Shrestha said that the deposits of the bank was above Rs 1 billion and loan investments amounted to Rs 800 million in the previous fiscal year. With its head office at Sindhupalchowk, the bank currently operates out of seven branches.

Sunrise Bank Concludes 8th AGM
Sunrise Bank Ltd successfully conducted its 8th AGM on Nov 16 and approved a 21.5 percent bonus share and 1.13 percent cash dividend (tax purposes) to its shareholders. At present, the bank has total deposits of Rs 35.53 billion and loan investments of Rs 29.11 billion. The bank works out of 53 branches and has 64 ATM counters.

Global IME Bank Passes Stakeholder Bonus Shares
In its 9th Annual General Meeting on Nov 15 in Kathmandu, Global IME bank has approved to give its stakeholders a 23 percent bonus share. As per the approval, bonus shares will be distributed out of the profit reserve and the profit earned during the fiscal year 2014/15. After distributing the bonus shares, the paid-up capital of the bank will amount to Rs 6.16 billion, with deposits at Rs 63 billion and loans at Rs 52 billion. The bank has a total of 88 branches, 10 revenue collection centres, 93 ATM counters, 4 extension counters and 37 branchless banking service centres across the country.

Mega Bank Starts Hi-tech Branchless Banking in Kailali and Dang
Mega Bank Nepal Limited has introduced TAB banking for the first time in Nepal in the rural areas of Kailali and Dang districts. The bank introduced this unique and affordable product with the support of Sakchyam Access to Finance Programme, said a press release from the bank. The new service started on Nov 8 in Joshipur and Hasulia of Kailali District and on Nov 10 in Laxmipur and Saudiyaar of Dang district.

According to the release, chief executive officer of the bank, Anil Keshary Shah said, “The branchless banking service has been established for the convenience of the people in the rural areas with a vision to provide them financial empowerment through financial inclusion.”

With the support of Sakchyam Project this year the bank aims to establish 30 new Tablet based BLB Service outlets in the mid and far western regions of Nepal.

 

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