Kaski and Kamana Development Bank Starts Joint Operation

June 21: Kaski Finance and regional level Kamana Development Bank has started its joint operation after merger. Chiranjibi Nepal, the Governor of Nepal Rastra Bank started the joint operation amid a program organized on June 20. "Merger is the best alternative for banks to be strong and competitive," says Governor Nepal. The merged entity has started its operation in the name of Kamana Development Bank.

After the merger, the paid- up capital of the bank has totaled Rs 661.6 million. According to Toya Raj Adhikari,CEO of the bank, the bank has Rs 6.83 billion in deposits and Rs 5.93 billion in loans. Similarly, the bank will be providing services to around 75,000 customers through 21 branches and 9 ATM counters. “The company aims to expand its branch network in various locations including Kathmandu Valley shortly,” informs Adhikari.

Likewise, the bank formed after merger has Rajendra Nidhi Koirala as Chairman, Toya Raj Adhikari as CEO and Umesh Kumar Acharya as the Deputy CEO.