March 17: Citizen Bank International Limited has launched its subsidiary company for merchant banking. The new company called CBIL Capital has initial paid up capital of Rs. 100 million and its Board of directors (BOD) includes Citizen Bank’s Deputy CEO Ganesh Raj Pokharel and Assistant CEOs Bodh Raj Devkota and Ramdhan Shrestha. Along with them, industrialist Aajad Shrestha and Citizen Investment Trust’s deputy CEO Sushil Kumar Aryal are also in CIBL Capital’s BOD.
Ganesh Raj Pokharel has been selected as Chairman of the company’s BOD.
CIBL Capital has already obtained permission from Nepal Rastra Bank, says the company informing that it will commence operation after obtaining license from Securities Board of Nepal.
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