KATHMANDU: Global IME Bank Limited has been honored with the Euromoney Award for Excellence 2024.…
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KATHMANDU: Global IME Bank Limited has been honored with the Euromoney Award for Excellence 2024.…
KATHMANDU: Interest rates on both deposits and loans of banks and financial institutions have declined due to excess liquidity in the banking…
KATHMANDU: The OPEC Fund for International Development has agreed to provide a loan of US$25 million to Global IME Bank Limited.…
KATHMANDU: The profits of banks and financial institutions dropped by over 15 percent as of mid-May in the current fiscal year due to the decline in economic activities and weak loan recovery.…
KATHMANDU: Governor of Nepal Rastra Bank, Maha Prasad Adhikari, has stated that bad loans of the banking sector cannot be reduced unless the cooperatives sector is reformed.…
KATHMANDU: The bad debts of banks and financial institutions (BFIs) have surged to a 10-year peak of 3.98 percent, largely attributed to the economic slowdown following the COVID-19…
KATHMANDU: Mahalaxmi Bikas Bank and Nepal Clearing House Limited (NCHL) have signed a memorandum of understanding (MoU) for facilitating international transaction payments between Nepal and…
Kathmandu: Global IME Bank Limited has been awarded the prestigious title of the Best Bank in Nepal for 2024 by Global Finance Magazine.…
April 7: Standard Chartered Bank Nepal Limited has inaugurated its Dharan branch at Mukumlung Complex, Ramailo Chowk. Issuing a statement on Sunday, the bank said that the branch operation commenced on April…
February 18: Aloi Private Limited, a platform dedicated to lending to emerging market green micro-entrepreneurs through verified merchants, and Kumari Bank Limited announced the signing of a Memorandum of Understanding (MoU) on February 15 to explore, evaluate, cooperate, and potentially work towards initiating and upscaling sustainable and green financing through digital financial literacy…
December 7: Standard Chartered Bank Nepal Limited (SCBNL) has announced ‘Enhanced Parental Leave Benefits’ for its employees as part of its commitment to fostering an equitable and inclusive…
December 1: Standard Chartered Bank on Friday announced a donation of USD 100,000 (NPR 13.3 million) to the British Red Cross, the bank’s emergency response partner, to support the victims of the recent earthquake in western…
November 27: Kumari Bank Limited has paid insurance amount worth Rs 80 million to 4,500 customers of the bank under the 'Family Protection Savings Account'…
July 26: Sanima Bank has signed a partnership agreement with Swisscontact Nepal for the Phase II of Agriculture Market Development Program Phase with the goal of strengthening the capacity of the bank to finance agro-based SMEs in Koshi…
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The 20 commercial banks collectively earned around Rs 64.15 billion in net profit, compared to approximately Rs 56.57 billion in the previous fiscal year, 2022/23.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">On Monday, the banks released their unaudited financial reports for the last quarter of the fiscal year, covering mid-April to mid-July 2024. The reports indicate that 10 of the 20 banks—Nabil Bank, Nepal Investment Mega Bank, Prabhu Bank, Prime Commercial Bank, Everest Bank, Agriculture Development Bank, Laxmi Sunrise Bank, Himalayan Bank, Kumari Bank, and Nepal SBI Bank —recorded an increase in net profit. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Conversely, Global IME Bank, Rastriya Banijya Bank, Standard Chartered Bank, Siddhartha Bank, Sanima Bank, NMB Bank, Nepal Bank Limited, NIC Asia Bank, Citizens Bank International, and Machhapuchchhre Bank saw decline in their net profits.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nabil Bank achieved the highest net profit of Rs 7.06 billion, while Machhapuchchhre Bank recorded the lowest at Rs 1.25 billion. Notably, Prabhu Bank experienced the largest increase in net profit, while NIC Asia saw the most significant decline.</span></span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Table below shows the net profit of the commercial banks in fiscal years 2023/24 and 2022/23.</span></span></strong></span></span></p> <p> </p> <table cellspacing="0" style="border-collapse:collapse"> <tbody> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Banks</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Net profit in FY 2023/24 (in Rs billion)</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Net profit in FY 2022/23 (in Rs billion)</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Change (%)</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Prabhu Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">4.48</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">0.28</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1499.04</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Kumari Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.3</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">0.51</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">345.67</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Prime Commercial Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.77</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.02</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">267.19</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Agricultural Development Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.65</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.32</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">176.23</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Himalayan Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.83</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.56</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">81.6</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nepal Investment Mega Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">5.19</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.72</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">39.71</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Laxmi Sunrise Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.03</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.28</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">32.79</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nabil Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">7.06</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">6.4</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">10.23</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Everest Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.7</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.36</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">10.07</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nepal SBI Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.01</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.96</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.35</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Standard Chartered Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.3</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.46</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-4.51</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Siddhartha Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.01</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.16</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-4.78</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Rastriya Banijya Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.39</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.59</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-5.48</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Sanima Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.38</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.6</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-8.59</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Global IME Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">6.01</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">6.69</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-10.13</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Machhapuchchhre Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.25</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.62</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-23.09</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">NMB Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.33</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.22</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-27.49</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Citizens Bank International</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.34</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.86</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-27.97</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nepal Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.65</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.43</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-51.8</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">NIC Asia Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.38</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">4.44</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-68.91</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Total</span></span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">64.15</span></span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">56.57</span></span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">13.4</span></span></strong></span></span></p> </td> </tr> </tbody> </table> <p><br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2024-08-05', 'modified' => '2024-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '21469', 'image' => '20240805022717_20240717011652_20240624011617_bankkkkkkk.jpg', 'article_date' => '2024-08-05 14:26:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '21624', 'article_category_id' => '218', 'title' => 'Global IME Bank Awarded with Two Euromoney Awards for Excellence 2024', 'sub_title' => '', 'summary' => 'KATHMANDU: Global IME Bank Limited has been honored with the Euromoney Award for Excellence 2024. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">KATHMANDU: Global IME Bank Limited has been honored with the Euromoney Award for Excellence 2024. Issuing a statement, the bank said it has been recognized as Nepal's Best Bank 2024 and Nepal’s Best Bank for ESG (Environmental, Social & Governance).</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">This is the second time Global IME Bank has been honored with this award, added the statement. Earlier, the bank was conferred with the "Euromoney Award for Excellence 2022 - Best Bank Nepal".</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The Euromoney Award is regarded as a coveted accolade in the global banking industry. Established in 1992, it recognizes outstanding performance in banking services across the globe.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">This year, Global IME Bank has also been awarded with the Best Bank Award 2024 by Global Finance.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Global IME Bank said it is proud to receive this coveted awards and vowed to continue providing exemplary banking services at all times.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-24', 'modified' => '2024-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '21346', 'image' => '20240724020751_blank eight by six.jpg', 'article_date' => '2024-07-24 14:06:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21562', 'article_category_id' => '218', 'title' => 'Credit Expansion of Banks Remain Dismal despite Drop in Interest Rates on Loans', 'sub_title' => '', 'summary' => 'KATHMANDU: Interest rates on both deposits and loans of banks and financial institutions have declined due to excess liquidity in the banking system.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: Interest rates on both deposits and loans of banks and financial institutions have declined due to excess liquidity in the banking system. The increase in liquidity has led banks to reduce interest rates on deposits, lowering costs and making interest on loans cheaper.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to information published by the banks, the quarterly average base rate of commercial banks was 8.35 percent from mid-May to mid-June of the current fiscal year. At the beginning of the previous year, the average quarterly base rate was 10.14 percent, but it decreased by 1.79 percentage points towards the end of the fiscal year. As banks reduced interest on deposits from mid-May to mid-July, it appears that the quarterly base rate to be implemented from mid-July will be even lower.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">With the decrease in the base rate, interest on loans have also become cheaper. According to the base rate determination procedure, banks and financial institutions determine the base rate by adding a 0.75 percent return to their cost. Banks then determine interest in loans by adding a premium to the base rate, with the current maximum premium being 4 percent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The base rate for the last three months is used when investing in a new loan, and the premium specified in the loan agreement cannot be changed. Thus, when the average base rate decreases each quarter, interest on loans automatically decrease and vice versa.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">From mid-May to mid-June, Standard Chartered Bank had the lowest quarterly base rate among commercial banks at 6.26 percent, while Kumari Bank had the highest at 9.48 percent. Sixteen banks have base rates below 9 percent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">"In the current year, after banks reduced interest on deposits, interest rates on loans also decreased," said former banker Parshuram Kunwar Chhetri. "However, interest rates on loans are still high." He explained that due to the lack of liquidity in previous years, banks raised long-term deposits at high interest rates, which kept loan interest rates from decreasing as expected. "The cost of banks is high because they raised deposits at high prices in the past. It seems that interest on loans will remain high until new, cheaper deposits are introduced."</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Due to the lack of liquidity, interest rates increased in previous years, but they have started to decrease since the recently ended fiscal year. As liquidity began to ease, the Nepal Bankers Association decided to end the gentlemen’s agreement at the beginning of the last fiscal year (mid-July 2023) and set interest rates at will. After that, the interest rates on deposits increased slightly until October but have been continuously decreasing since then.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In last July, the average interest rate on deposit of commercial banks was 9.83 percent, but it reached 10.26 percent in October. Since then, the average interest rate has continuously decreased to 6.72 percent as of July this year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Although the interest rates on loans have dropped, the credit flow from banks has not increased. By May, deposits in banks and financial institutions increased by 9 percent, while credit flow to the private sector increased by only 5.1 percent. The NRB's monetary policy for the year 2080/81 targets 11.5 percent credit expansion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Due to the increase in deposits, there is more than Rs 700 billion of investable capital in banks and financial institutions due to a lack of credit flow. By Sunday, banks and financial institutions had collected a total of Rs 6482 billion in deposits and disbursed loans of 5160 billion. On Sunday, the average credit-deposit ratio (CD ratio) of banks fell to 77.61 percent. Banks can grant loans by maintaining a CD ratio of up to 90 percent.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-17', 'modified' => '2024-07-17', 'keywords' => '', 'description' => '', 'sortorder' => '21288', 'image' => '20240717011652_20240624011617_bankkkkkkk.jpg', 'article_date' => '2024-07-17 13:16:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21373', 'article_category_id' => '218', 'title' => 'OPEC Fund Provides US$25 Million Loan to Global IME Bank', 'sub_title' => 'The Loan will be Utilized to Support Small Businesses and Enhance Climate Resilience in Nepal', 'summary' => ' KATHMANDU: The OPEC Fund for International Development has agreed to provide a loan of US$25 million to Global IME Bank Limited. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">KATHMANDU: The OPEC Fund for International Development has agreed to provide a loan of US$25 million to Global IME Bank Limited. Issuing a statement on Wednesday, Global IME Bank confirmed that it signed an agreement in this regard with the OPEC Fund.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">As per the agreement, the bank will utilize the loan to increase access to financing for micro, small, and medium enterprises (MSMEs), including women-owned enterprises, as well as climate-smart projects.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">OPEC Fund’s loan will help to address significant financing gaps for MSMEs, which make up 95 percent of Nepal's registered businesses and account for 45 percent of all jobs, said the bank.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Despite their importance, MSMEs struggle to receive funds and the financing gap for these enterprises is estimated at US$3.6 billion. Additionally, the bank said that the loan will enhance GIBL’s climate finance portfolio, vital for Nepal's efforts to mitigate climate change impacts.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">OPEC Fund President Abdulhamid Alkhalifa expressed happiness to partner with Global IME Bank to bolster support for MSMEs and climate-smart projects in Nepal. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">“These sectors are crucial for sustainable economic growth and resilience against climate change. Our loan will help address the significant financing gaps and promote inclusive development,” the statement quoted Alkhalifa as saying.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Similarly, Chief Executive Officer of Global IME Bank, Ratna Raj Bajracharya, said this loan agreement reinforces the bank’s commitment to finding local solutions through climate and gender financing to achieve global sustainability and inclusivity goals. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">“We aim to bridge the resource gap in Nepal's green energy sector and address gender disparity by empowering women economically through accessible financing," said Bajracharya, adding, "We are grateful to partner with the OPEC Fund in this endeavor. This collaboration will enhance our support for MSMEs, vital to Nepal's economy, and strengthen our efforts in promoting climate resilience and sustainable development. Together, we can significantly impact Nepal's journey towards a greener and more inclusive future."</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">According to the statement issued by the bank, Nepal ranks 94th globally in CO2 emissions, with half of its greenhouse gas emissions coming from the agriculture sector. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The country is highly vulnerable to climate change impacts, which disproportionately affect vulnerable communities, added the statement. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">“Increasing access to climate finance is essential for Nepal’s sustainable development, supporting initiatives such as clean transportation, climate-smart agriculture, and solar projects.”</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The statement added that the OPEC Fund and Nepal have a long-standing partnership focused on driving sustainable development. The OPEC Fund has committed funding to various sectors including banking, energy, agriculture, transportation, and education, it added. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-27', 'modified' => '2024-06-27', 'keywords' => 'OPEC, Fund, bank, loan, agreement, Nepal, small, industries, women, entrepreneurship', 'description' => '', 'sortorder' => '21098', 'image' => '20240627111212_IMG-20240626-WA0000.jpg', 'article_date' => '2024-06-27 11:10:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '21349', 'article_category_id' => '218', 'title' => 'Profits of Banks Decline by 15 Percent', 'sub_title' => '', 'summary' => 'KATHMANDU: The profits of banks and financial institutions dropped by over 15 percent as of mid-May in the current fiscal year due to the decline in economic activities and weak loan recovery. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: The profits of banks and financial institutions dropped by over 15 percent as of mid-May in the current fiscal year due to the decline in economic activities and weak loan recovery. The slump in economic activities led to a decline in the banks' credit investment and an increase in the amount set aside for risk management, which impacted profits.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to Nepal Rastra Bank (NRB), banks earned a net profit of Rs 53.19 billion by mid-May, which is 15.03 percent less than the Rs 62.6 billion earned during the same period last year. However, compared to mid-April of the current year, the profit of banks and financial institutions increased by 19.08 percent. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">On May 26, NRB issued a directive that only 1.20 percent risk provisioning is required for good loans. The increase in the amount that banks must set aside for risk has also affected profits. By mid-May of this year, banks set aside Rs 78.58 billion for risk management, 46.56 percent more than the same period last year. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Currently, NRB requires banks to set aside 1.20 percent for good loans, 5 percent for micro-monitored loans, 25 percent for sub-standard loans, 50 percent for doubtful loans, and 100 percent for bad loans.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The profit of finance companies decreased by 63 percent compared to mid-May last year. In the last 10 months of the previous year, finance companies made a profit of Rs 1.14 billion, but this year, it has been limited to Rs 41 million. The amount that finance companies have to set aside for risk management increased by 43.78 percent.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Similarly, the profit of commercial banks decreased by 14.96 percent. Commercial banks earned Rs 57.16 billion by mid-May last year, but in the same period this year, they earned only Rs 48.60 billion.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to NRB, the profit of development banks was Rs 4.29 billion by mid-May 2023, but it decreased by 2.85 percent to Rs 4.17 billion in 2024.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">By mid-May of this year, deposits in banks and financial institutions increased by Rs 443.80 billion (7.8 percent), while lending increased by Rs 225.24 billion (4.7 percent). Banks’ income was affected because banks could not provide loans in proportion to the increase in deposits. The distributable profit of 10 commercial banks was negative in the third quarter this year due to non-recovery of loans.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Former President of Nepal Bankers Association Bhuwan Kumar Dahal stated that when economic activities slow down, bad loans of banks increase, affecting profits. "Banks have to set aside a large amount of money earned in provisioning," he said.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-24', 'modified' => '2024-06-24', 'keywords' => '', 'description' => '', 'sortorder' => '21075', 'image' => '20240624011617_bankkkkkkk.jpg', 'article_date' => '2024-06-24 13:15:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21348', 'article_category_id' => '218', 'title' => 'Bad Loans of Banks will not Decrease until Reforms in the Cooperatives Sector: NRB Governor Adhikari', 'sub_title' => '', 'summary' => 'KATHMANDU: Governor of Nepal Rastra Bank, Maha Prasad Adhikari, has stated that bad loans of the banking sector cannot be reduced unless the cooperatives sector is reformed. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Governor of Nepal Rastra Bank, Maha Prasad Adhikari, has stated that bad loans of the banking sector cannot be reduced unless the cooperatives sector is reformed. He expressed this view while speaking as the chief guest at a discussion on managing risky assets in the banking sector of Nepal on Sunday.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Adhikari emphasized the importance of the cooperative sector to the country's economy, noting that improvements in the banking sector and overall economy are dependent upon reforms in this sector. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">"It is time to think about cooperatives. Cooperatives play a significant role in the economy. Problems have arisen because cooperatives have been operating like banks. For 20 years, we have advocated for a secondary regulator for cooperatives, but the lack of implementation has led to the ongoing issues," he said. "Until this problem is solved, the bank's bad loans will not decrease, and the economy will not improve."</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">He stressed the need for an organization with skilled manpower to manage troubled cooperatives and a secondary regulator for managing other cooperatives.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Additionally, Adhikari pointed out that bad loans have increased due to ineffective monitoring of banks, financial instability, economic slowdown, recovery issues, and declining business morale. He mentioned that the central bank is now prioritizing credit scores to address these issues. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">"The wrong mentality that loans do not need to be repaid has contributed to the increase in bad loans," he said.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Adhikari also highlighted the necessity of political stability for economic stability, drawing parallels with other countries where political stability has led to economic stability. He dismissed market rumors about high bank profits, arguing that an average profit of 8 percent is not excessive.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Rajesh Upadhyay, senior vice president of the Confederation of Nepal Banks and Financial Institutions, echoed Adhikari's concerns about increasing bad loans, which he said are posing significant challenges to the economy. "There is pressure on bankers to keep bad loans below 5 percent as per the provision fixed by the Nepal Rastra Bank, but bad loans can exceed 4 percent," he said.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Upadhyay suggested that banks should focus on increasing reserves rather than equity to strengthen their position. He also recommended that banks and financial institutions prioritize reducing expenses by leveraging information technology.</span></span></p> ', 'published' => true, 'created' => '2024-06-24', 'modified' => '2024-06-24', 'keywords' => '', 'description' => '', 'sortorder' => '21074', 'image' => '20240624122346_830147c2.jpeg', 'article_date' => '2024-06-24 12:23:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21334', 'article_category_id' => '218', 'title' => 'Bad Debts of BFIs Soar to Highest Level in a Decade at 3.98 Percent', 'sub_title' => '', 'summary' => 'KATHMANDU: The bad debts of banks and financial institutions (BFIs) have surged to a 10-year peak of 3.98 percent, largely attributed to the economic slowdown following the COVID-19 pandemic.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: The bad debts of banks and financial institutions (BFIs) have surged to a 10-year peak of 3.98 percent, largely attributed to the economic slowdown following the COVID-19 pandemic.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A recent report prepared by Nepal Rastra Bank (NRB) indicates that the proportion of bad debt in BFIs was 3.76 percent a decade ago. This figure had decreased significantly to 1.31 percent by June 2022.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, as of mid-April this year, the bad loans of commercial banks have risen to 3.89 percent. Meanwhile, development banks and finance companies have recorded non-performing loans of 3.63 percent and 10.40 percent, respectively.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The number of cases at the Debt Recovery Tribunal formed to recover bad loans of banks and financial institutions has more than doubled this year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With banks encountering difficulties in loan recovery amidst a decline in economic activities, the number of cases filed with the tribunal has also begun to rise.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Banks can register a case at the tribunal if they are unable to recover the loan even from the mortgage auction. Information officer of the tribunal, Devendra Dhakal, said that the number of cases has increased as there is no condition to recover the loan from the mortgage due to the fall in real estate prices along with the economic slowdown.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As of mid-March of the current fiscal year (FY), banks and financial institutions have registered 342 cases at the tribunal. During the corresponding period last year, only 162 cases were registered. It shows that the number of cases has doubled this year. A total of 200 cases were registered at the tribunal last year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The central bank had earlier warned that credit risk is on the rise within commercial banks due to loans being issued without the completion of requisite procedures. Increasing bad loans of banks and financial institutions also indicate the rise in credit risk, the NRB said following a supervision of banks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the supervision report published by NRB in April, during the monitoring, some banks were found to have provided more loans than necessary without adequately assessing the needs of the borrowers. The central bank has stated that loans are given without maintaining a balance between the customer's assets and loan ratio. It also noted that the monitoring system after loan disbursement is weak.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the NRB study found that banks have given new loans to pay off old loans. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Nepal Rastra Bank sources, the quality of banking service is deteriorating due to the competition among banks to extend loans after the Covid- 19 pandemic.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Banks are under pressure to increase their profits by increasing their loans," said an executive director of Nepal Rastra Bank on condition of anonymity.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-06-21', 'modified' => '2024-06-21', 'keywords' => 'bad, debts. loans, banks, Nepal, rise', 'description' => '', 'sortorder' => '21062', 'image' => '20240621103125_20231108120244_badloan.jpg', 'article_date' => '2024-06-21 10:30:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21090', 'article_category_id' => '218', 'title' => 'Mahalaxmi Bikas Bank and NCHL sign MoU for Facilitating International Transactions', 'sub_title' => '', 'summary' => 'KATHMANDU: Mahalaxmi Bikas Bank and Nepal Clearing House Limited (NCHL) have signed a memorandum of understanding (MoU) for facilitating international transaction payments between Nepal and India.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Mahalaxmi Bikas Bank and Nepal Clearing House Limited (NCHL) have signed a memorandum of understanding (MoU) for facilitating international transaction payments between Nepal and India. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a recent statement, Mahalaxmi Bikas Bank claimed that it is the first development bank to enter into an agreement with NCHL for payments of international transactions. The bank has been able to provide this facility as there are Nostro accounts operating in India, the statement added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the agreement, Indian citizens in Nepal will be able to directly transfer funds to their accounts in India through any UPI handle linked account opened in Mahalaxmi Bikas Bank under the limit set by Nepal Rastra Bank.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, Nepali citizens in India can transfer money directly to Mahalaxmi Bikas Bank's UPI handle linked account in Nepal by using the UPI enabled app, subject to the limits set by the regulatory body in India. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This cross-border payment is expected to directly benefit students, pilgrims, tourists and customers going to India for medical treatment and vice versa. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chief Executive Officer of Mahalaxmi Bikas Bank Dipesh Lamsal and Chief Executive Officer Nileshman Singh Pradhan on behalf of NCHL signed the agreement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Embracing the slogan of "Strong Bank, Successful Cooperation", Mahalaxmi Bikas Bank said it has been continuously providing quality financial services at the doorsteps of Nepalese citizens for the past 29 years. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In addition, the 22nd annual general meeting of the bank held on January 13, 2024 also passed a resolution to bring foreign banks or financial institutions as strategic partners, the statement added.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-27', 'modified' => '2024-05-27', 'keywords' => '', 'description' => '', 'sortorder' => '20816', 'image' => '20240527022352_IMG-54ea918ad0afe60ae6e1194fabe09ebc-V.jpg', 'article_date' => '2024-05-27 14:23:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20987', 'article_category_id' => '218', 'title' => 'Global IME Bank Declared 'Best Bank in Nepal for 2024' by Global Finance Magazine', 'sub_title' => '', 'summary' => 'Kathmandu: Global IME Bank Limited has been awarded the prestigious title of the Best Bank in Nepal for 2024 by Global Finance Magazine. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kathmandu: Global IME Bank Limited has been awarded the prestigious title of the Best Bank in Nepal for 2024 by Global Finance Magazine. This accolade recognizes Global IME Bank's excellence in several key areas, including long-term reliability, effective financial resource mobilization, geographical expansion, and the development of strategic relationships, the bank said in a press statement. The bank said it has also excelled in its professional development, customer-focused services, and strong credit rating.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Each year, Global Finance Magazine honors leading banks across various regions such as Africa, Asia Pacific, Caribbean, Central America, Latin America, North America, Western and Eastern Europe and Middle East. This year's winners’ list includes prominent institutions like HSBC of Hong Kong, Bank of America of the USA, and the State Bank of India, Standard Chartered Bank Bangladesh, Metro Bank of the Philippines among others.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Global IME Bank claimed that it has become the first bank from Nepal to win this prestigious award.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With a network of over 1,100 service centers across Nepal, including 354 branches and 379 ATMs, Global IME Bank said it demonstrates a strong commitment to accessibility and customer service. Serving over 4.6 million customers, the bank offers a diverse range of services.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the bank, its commitment to innovation and customer satisfaction has been pivotal to its success. This achievement is supported by the loyalty of its customers, the dedication of its employees, and the backing of shareholders and regulatory bodies, the statement added.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-15', 'modified' => '2024-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '20712', 'image' => '20240515115845_36424603.jpeg', 'article_date' => '2024-05-15 11:57:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20677', 'article_category_id' => '218', 'title' => 'Standard Chartered Bank Nepal inaugurates Dharan branch', 'sub_title' => '', 'summary' => 'April 7: Standard Chartered Bank Nepal Limited has inaugurated its Dharan branch at Mukumlung Complex, Ramailo Chowk. Issuing a statement on Sunday, the bank said that the branch operation commenced on April 7.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">April 7: Standard Chartered Bank Nepal Limited has inaugurated its Dharan branch at Mukumlung Complex, Ramailo Chowk. Issuing a statement on Sunday, the bank said that the branch operation commenced on April 7.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to the SCB, the branch offers new interactive forms of banking with enhanced personal and customer-focused experiences along with complementary mobile banking and digital marketing products. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The bank said it has also adopted latest designs as per the global standards of Standard Chartered Bank that allows for new ways of working for the staff. The bank added that the branch has ample space for parking and ATM facilities along with dedicated spaces for Priority Banking customers including meeting rooms and waiting lounges. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The branch was jointly inaugurated by Indra Chamlagai Mainali, director Nepal Rastra Bank, Biratnagar Office, Major (Retired) Man B Gurung, head of the Veteran Services, British Gurkhas Nepal and Gorkah Rana, Deputy Chief Executive Officer (DCEO) of Standard Chartered Bank Nepal Limited. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The DCEO mentioned “We are happy to inaugurate our branch in Dharan which is a rapidly growing market. We have plans to further strengthen our presence and customer reach in other parts of the country as well. Standard Chartered Bank’s purpose in Nepal also is to drive commerce and prosperity and contribute to the country’s long term economic growth.” </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Niwesh Shrestha, the branch manager of Dharan and his staff welcomed the new and existing customers to the newly inaugurated 1800 square foot branch. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-08', 'modified' => '2024-04-08', 'keywords' => '', 'description' => '', 'sortorder' => '20404', 'image' => '20240408065124_IMG_9077-1_1.JPG', 'article_date' => '2024-04-08 18:50:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20283', 'article_category_id' => '218', 'title' => ' Aloi and Kumari Bank Collaborate for Digital Green Financing', 'sub_title' => '', 'summary' => 'February 18: Aloi Private Limited, a platform dedicated to lending to emerging market green micro-entrepreneurs through verified merchants, and Kumari Bank Limited announced the signing of a Memorandum of Understanding (MoU) on February 15 to explore, evaluate, cooperate, and potentially work towards initiating and upscaling sustainable and green financing through digital financial literacy programs.', 'content' => '<div> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif""><span style="font-family:"Times New Roman","serif"">February 18: Aloi Private Limited, a platform dedicated to lending to emerging market green micro-entrepreneurs through verified merchants, and Kumari Bank Limited announced the signing of a Memorandum of Understanding (MoU) on February 15 to facilitate green financing.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif""><span style="font-family:"Times New Roman","serif"">As per the MoU, the two organisations will explore, evaluate, cooperate, and potentially work towards initiating and upscaling sustainable and green financing through digital financial literacy programs.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif""><span style="font-family:"Times New Roman","serif"">The MoU signifies a strategic partnership aimed at digitizing green and sustainable financing, with an initial focus on digital financial literacy workshops, reads a joint statement issued by the organisations. Under this collaboration, Kumari Bank and Aloi Private Limited will work together to provide digital financial literacy workshops to MSMEs in the agricultural sector.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif""><span style="font-family:"Times New Roman","serif"">As per the statement, the agreement was formalized through the signing ceremony attended by Arpan Paudel, the Transaction Banking Head of Kumari Bank, and Sonika Manandhar, CTO/Co-Founder and Tiffany Tong CEO/Co-Founder of Aloi.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif""><span style="font-family:"Times New Roman","serif"">The association said it will focus on bridging the gap in micro-business loans, catering to entrepreneurs who require more financing than microfinance can provide but cannot access commercial bank loans.</span></span></span></p> </div> <p> </p> ', 'published' => true, 'created' => '2024-02-18', 'modified' => '2024-02-18', 'keywords' => '', 'description' => '', 'sortorder' => '20009', 'image' => '20240218033943_aloi.jpg', 'article_date' => '2024-02-18 15:37:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19675', 'article_category_id' => '218', 'title' => 'Standard Chartered Bank announces ‘Enhanced Parental Leave Benefits’ for its Employees', 'sub_title' => '', 'summary' => 'December 7: Standard Chartered Bank Nepal Limited (SCBNL) has announced ‘Enhanced Parental Leave Benefits’ for its employees as part of its commitment to fostering an equitable and inclusive culture.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 7: Standard Chartered Bank Nepal Limited (SCBNL) has announced ‘Enhanced Parental Leave Benefits’ for its employees as part of its commitment to fostering an equitable and inclusive culture. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a statement on Thursday, the bank said that its staff are eligible to avail a minimum of 20 weeks (140 calendar days) of paid Parental Leave – irrespective of gender, relationship status, or how a child comes to permanently join a family (ie adoption). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">SCBNL claimed that it is the first bank in the country to introduce such benefits for all its employees, aimed at levelling the playing field by allowing them the ability to partake equally in caregiving responsibilities for their children. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Accordingly, maternity, paternity, and adoption leave benefits (jointly referred to as ‘Parental Leave’) will be 140 calendar days,” reads the statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Rajan Udas, head of Human Resources at Standard Chartered Bank Nepal Limited (SCBNL) said, “Welcoming a child into a family is a momentous occasion and the bank wants to support colleagues through this key life event so that they can effectively balance both personal and professional priorities. We believe benefits such as this help address prevalent societal norms around traditional roles, improve workforce participation, and provide options to those who want to take up shared childcare responsibilities. This will positively impact families’ financial wellbeing and create a more inclusive workplace that supports everyone’s family planning choices.”</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-07', 'modified' => '2023-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '19403', 'image' => '20231207044116_parental-leave-slide1.jpg', 'article_date' => '2023-12-07 16:40:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19615', 'article_category_id' => '218', 'title' => 'Standard Chartered Bank contributes USD 100,000 to Support Quake Victims', 'sub_title' => '', 'summary' => 'December 1: Standard Chartered Bank on Friday announced a donation of USD 100,000 (NPR 13.3 million) to the British Red Cross, the bank’s emergency response partner, to support the victims of the recent earthquake in western Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 1: Standard Chartered Bank on Friday announced a donation of USD 100,000 (NPR 13.3 million) to the British Red Cross, the bank’s emergency response partner, to support the victims of the recent earthquake in western Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The funding will help to support the Nepal Red Cross Society in providing first aid and medical assistance, as well as essentials like food, water, and relief items including emergency shelter kits to families who have lost their homes in the earthquake and are exposed to the elements with the winter approaching, the bank said in a statement released on Friday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“We are deeply saddened by the damage caused by the earthquake and stand in solidarity with the victims. As the only international bank in Nepal, we are in a strong position to be a force for positive change in times of need,” said Anirvan Ghosh Dastidar, Chief Executive Officer of Standard Chartered Bank Nepal Limited (SCBNL), adding, “We hope our donation will help the relief efforts and support those who have been severely impacted by this unfortunate disaster. We are committed to supporting our communities – it is at the heart of our brand promise to be Here for Good.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The statement further said that Standard Chartered has been directly involved in the emergency response in the aftermath of this earthquake, which is the largest to impact Nepal since 2015, to support the victims and their families by providing food, emergency tents and sleeping bags. The bank is also raising funds internally to support the Red Cross in this cause.</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-01', 'modified' => '2023-12-04', 'keywords' => '', 'description' => '', 'sortorder' => '19342', 'image' => null, 'article_date' => '2023-12-01 21:42:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19570', 'article_category_id' => '218', 'title' => 'Kumari Bank Pays Rs 80 million to its Customers under Insurance Scheme', 'sub_title' => '', 'summary' => 'November 27: Kumari Bank Limited has paid insurance amount worth Rs 80 million to 4,500 customers of the bank under the 'Family Protection Savings Account' scheme.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 27: Kumari Bank Limited has paid insurance amount worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">80 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">million to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">500 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">customers of the bank under the 'Family Protection Savings Account' scheme. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The bank provided the amount in the last four years to its customers through a designated insurance company. The insurance amount was provided for the general check-up, hospital admission and treatment of serious illness and accidental death of customers under the 'Family Protection Savings Account' scheme. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the bank, the highest </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">36 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent of claims under the scheme were settled in Bagmati Province. Similarly, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent claims were settled in Madhesh Province and Gandaki Province respectively and the remaining amount was paid in other provinces. The bank made the highest amount of payment of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">54 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent for hospitalization insurance.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-27', 'modified' => '2023-11-27', 'keywords' => '', 'description' => '', 'sortorder' => '19298', 'image' => '20231127115705_1701054387.kumari-bank-2080-08-10.jpg', 'article_date' => '2023-11-27 11:56:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18568', 'article_category_id' => '218', 'title' => 'Sanima Bank Signs Partnership Deal with Swisscontact Nepal for Agro Financing', 'sub_title' => '', 'summary' => 'July 26: Sanima Bank has signed a partnership agreement with Swisscontact Nepal for the Phase II of Agriculture Market Development Program Phase with the goal of strengthening the capacity of the bank to finance agro-based SMEs in Koshi Province.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">July 26: Sanima Bank has signed a partnership agreement with Swisscontact Nepal for the Phase II of Agriculture Market Development Program Phase with the goal of strengthening the capacity of the bank to finance agro-based SMEs in Koshi Province.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The partnership aims to cater to the financial needs of agro-processing enterprises in Koshi Province, reads a press statement issued by the bank. The agreement will help carry out orientation and spread awareness in an innovative and effective way, added the statement. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to Sanima Bank, this partnership will optimize the digitization of the agro-loan processing, carry out promotional activities of agro-loan products, organize various client orientation and business literacy programs and build the capacity of the bank’s staff to cater to the agro-enterprises’ needs in an efficient way.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Deputy Chief Executive Officer of Sanima Bank, Tej Bahadur Chand, mentioned that the partnership would enable Sanima Bank to further strengthen its initiatives in better serving agriculture enterprises through innovative financial products and services. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Sanima Bank is currently providing services from 132 offices and 122 ATM networks across all 7 provinces.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-26', 'modified' => '2023-07-26', 'keywords' => '', 'description' => '', 'sortorder' => '18297', 'image' => '20230726020604_Photo_Partnership with Swisscontact.JPG', 'article_date' => '2023-07-26 14:04:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '21743', 'article_category_id' => '218', 'title' => ' Net Profit of Commercial Banks Jumps 13.4% in Last Fiscal Year', 'sub_title' => 'Nabil Bank posted the highest net profit of Rs 7.06 billion during the period, while Machhapuchchhre Bank recorded the lowest at Rs 1.25 billion.', 'summary' => '', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Pawan Pandey</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">KATHMANDU, August 5</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The total net profit of Nepal’s commercial banks surged by 13.4% in the fiscal year 2023/24, ending July 15. The 20 commercial banks collectively earned around Rs 64.15 billion in net profit, compared to approximately Rs 56.57 billion in the previous fiscal year, 2022/23.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">On Monday, the banks released their unaudited financial reports for the last quarter of the fiscal year, covering mid-April to mid-July 2024. The reports indicate that 10 of the 20 banks—Nabil Bank, Nepal Investment Mega Bank, Prabhu Bank, Prime Commercial Bank, Everest Bank, Agriculture Development Bank, Laxmi Sunrise Bank, Himalayan Bank, Kumari Bank, and Nepal SBI Bank —recorded an increase in net profit. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Conversely, Global IME Bank, Rastriya Banijya Bank, Standard Chartered Bank, Siddhartha Bank, Sanima Bank, NMB Bank, Nepal Bank Limited, NIC Asia Bank, Citizens Bank International, and Machhapuchchhre Bank saw decline in their net profits.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nabil Bank achieved the highest net profit of Rs 7.06 billion, while Machhapuchchhre Bank recorded the lowest at Rs 1.25 billion. Notably, Prabhu Bank experienced the largest increase in net profit, while NIC Asia saw the most significant decline.</span></span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Table below shows the net profit of the commercial banks in fiscal years 2023/24 and 2022/23.</span></span></strong></span></span></p> <p> </p> <table cellspacing="0" style="border-collapse:collapse"> <tbody> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Banks</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Net profit in FY 2023/24 (in Rs billion)</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Net profit in FY 2022/23 (in Rs billion)</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Change (%)</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Prabhu Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">4.48</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">0.28</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1499.04</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Kumari Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.3</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">0.51</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">345.67</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Prime Commercial Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.77</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.02</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">267.19</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Agricultural Development Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.65</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.32</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">176.23</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Himalayan Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.83</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.56</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">81.6</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nepal Investment Mega Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">5.19</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.72</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">39.71</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Laxmi Sunrise Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.03</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.28</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">32.79</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nabil Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">7.06</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">6.4</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">10.23</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Everest Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.7</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.36</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">10.07</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nepal SBI Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.01</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.96</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.35</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Standard Chartered Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.3</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.46</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-4.51</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Siddhartha Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.01</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.16</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-4.78</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Rastriya Banijya Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.39</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.59</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-5.48</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Sanima Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.38</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.6</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-8.59</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Global IME Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">6.01</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">6.69</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-10.13</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Machhapuchchhre Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.25</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.62</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-23.09</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">NMB Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.33</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.22</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-27.49</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Citizens Bank International</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.34</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.86</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-27.97</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nepal Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.65</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.43</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-51.8</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">NIC Asia Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.38</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">4.44</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-68.91</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Total</span></span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">64.15</span></span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">56.57</span></span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">13.4</span></span></strong></span></span></p> </td> </tr> </tbody> </table> <p><br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2024-08-05', 'modified' => '2024-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '21469', 'image' => '20240805022717_20240717011652_20240624011617_bankkkkkkk.jpg', 'article_date' => '2024-08-05 14:26:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '21624', 'article_category_id' => '218', 'title' => 'Global IME Bank Awarded with Two Euromoney Awards for Excellence 2024', 'sub_title' => '', 'summary' => 'KATHMANDU: Global IME Bank Limited has been honored with the Euromoney Award for Excellence 2024. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">KATHMANDU: Global IME Bank Limited has been honored with the Euromoney Award for Excellence 2024. Issuing a statement, the bank said it has been recognized as Nepal's Best Bank 2024 and Nepal’s Best Bank for ESG (Environmental, Social & Governance).</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">This is the second time Global IME Bank has been honored with this award, added the statement. Earlier, the bank was conferred with the "Euromoney Award for Excellence 2022 - Best Bank Nepal".</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The Euromoney Award is regarded as a coveted accolade in the global banking industry. Established in 1992, it recognizes outstanding performance in banking services across the globe.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">This year, Global IME Bank has also been awarded with the Best Bank Award 2024 by Global Finance.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Global IME Bank said it is proud to receive this coveted awards and vowed to continue providing exemplary banking services at all times.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-24', 'modified' => '2024-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '21346', 'image' => '20240724020751_blank eight by six.jpg', 'article_date' => '2024-07-24 14:06:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21562', 'article_category_id' => '218', 'title' => 'Credit Expansion of Banks Remain Dismal despite Drop in Interest Rates on Loans', 'sub_title' => '', 'summary' => 'KATHMANDU: Interest rates on both deposits and loans of banks and financial institutions have declined due to excess liquidity in the banking system.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: Interest rates on both deposits and loans of banks and financial institutions have declined due to excess liquidity in the banking system. The increase in liquidity has led banks to reduce interest rates on deposits, lowering costs and making interest on loans cheaper.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to information published by the banks, the quarterly average base rate of commercial banks was 8.35 percent from mid-May to mid-June of the current fiscal year. At the beginning of the previous year, the average quarterly base rate was 10.14 percent, but it decreased by 1.79 percentage points towards the end of the fiscal year. As banks reduced interest on deposits from mid-May to mid-July, it appears that the quarterly base rate to be implemented from mid-July will be even lower.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">With the decrease in the base rate, interest on loans have also become cheaper. According to the base rate determination procedure, banks and financial institutions determine the base rate by adding a 0.75 percent return to their cost. Banks then determine interest in loans by adding a premium to the base rate, with the current maximum premium being 4 percent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The base rate for the last three months is used when investing in a new loan, and the premium specified in the loan agreement cannot be changed. Thus, when the average base rate decreases each quarter, interest on loans automatically decrease and vice versa.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">From mid-May to mid-June, Standard Chartered Bank had the lowest quarterly base rate among commercial banks at 6.26 percent, while Kumari Bank had the highest at 9.48 percent. Sixteen banks have base rates below 9 percent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">"In the current year, after banks reduced interest on deposits, interest rates on loans also decreased," said former banker Parshuram Kunwar Chhetri. "However, interest rates on loans are still high." He explained that due to the lack of liquidity in previous years, banks raised long-term deposits at high interest rates, which kept loan interest rates from decreasing as expected. "The cost of banks is high because they raised deposits at high prices in the past. It seems that interest on loans will remain high until new, cheaper deposits are introduced."</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Due to the lack of liquidity, interest rates increased in previous years, but they have started to decrease since the recently ended fiscal year. As liquidity began to ease, the Nepal Bankers Association decided to end the gentlemen’s agreement at the beginning of the last fiscal year (mid-July 2023) and set interest rates at will. After that, the interest rates on deposits increased slightly until October but have been continuously decreasing since then.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In last July, the average interest rate on deposit of commercial banks was 9.83 percent, but it reached 10.26 percent in October. Since then, the average interest rate has continuously decreased to 6.72 percent as of July this year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Although the interest rates on loans have dropped, the credit flow from banks has not increased. By May, deposits in banks and financial institutions increased by 9 percent, while credit flow to the private sector increased by only 5.1 percent. The NRB's monetary policy for the year 2080/81 targets 11.5 percent credit expansion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Due to the increase in deposits, there is more than Rs 700 billion of investable capital in banks and financial institutions due to a lack of credit flow. By Sunday, banks and financial institutions had collected a total of Rs 6482 billion in deposits and disbursed loans of 5160 billion. On Sunday, the average credit-deposit ratio (CD ratio) of banks fell to 77.61 percent. Banks can grant loans by maintaining a CD ratio of up to 90 percent.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-17', 'modified' => '2024-07-17', 'keywords' => '', 'description' => '', 'sortorder' => '21288', 'image' => '20240717011652_20240624011617_bankkkkkkk.jpg', 'article_date' => '2024-07-17 13:16:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21373', 'article_category_id' => '218', 'title' => 'OPEC Fund Provides US$25 Million Loan to Global IME Bank', 'sub_title' => 'The Loan will be Utilized to Support Small Businesses and Enhance Climate Resilience in Nepal', 'summary' => ' KATHMANDU: The OPEC Fund for International Development has agreed to provide a loan of US$25 million to Global IME Bank Limited. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">KATHMANDU: The OPEC Fund for International Development has agreed to provide a loan of US$25 million to Global IME Bank Limited. Issuing a statement on Wednesday, Global IME Bank confirmed that it signed an agreement in this regard with the OPEC Fund.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">As per the agreement, the bank will utilize the loan to increase access to financing for micro, small, and medium enterprises (MSMEs), including women-owned enterprises, as well as climate-smart projects.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">OPEC Fund’s loan will help to address significant financing gaps for MSMEs, which make up 95 percent of Nepal's registered businesses and account for 45 percent of all jobs, said the bank.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Despite their importance, MSMEs struggle to receive funds and the financing gap for these enterprises is estimated at US$3.6 billion. Additionally, the bank said that the loan will enhance GIBL’s climate finance portfolio, vital for Nepal's efforts to mitigate climate change impacts.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">OPEC Fund President Abdulhamid Alkhalifa expressed happiness to partner with Global IME Bank to bolster support for MSMEs and climate-smart projects in Nepal. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">“These sectors are crucial for sustainable economic growth and resilience against climate change. Our loan will help address the significant financing gaps and promote inclusive development,” the statement quoted Alkhalifa as saying.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Similarly, Chief Executive Officer of Global IME Bank, Ratna Raj Bajracharya, said this loan agreement reinforces the bank’s commitment to finding local solutions through climate and gender financing to achieve global sustainability and inclusivity goals. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">“We aim to bridge the resource gap in Nepal's green energy sector and address gender disparity by empowering women economically through accessible financing," said Bajracharya, adding, "We are grateful to partner with the OPEC Fund in this endeavor. This collaboration will enhance our support for MSMEs, vital to Nepal's economy, and strengthen our efforts in promoting climate resilience and sustainable development. Together, we can significantly impact Nepal's journey towards a greener and more inclusive future."</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">According to the statement issued by the bank, Nepal ranks 94th globally in CO2 emissions, with half of its greenhouse gas emissions coming from the agriculture sector. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The country is highly vulnerable to climate change impacts, which disproportionately affect vulnerable communities, added the statement. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">“Increasing access to climate finance is essential for Nepal’s sustainable development, supporting initiatives such as clean transportation, climate-smart agriculture, and solar projects.”</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The statement added that the OPEC Fund and Nepal have a long-standing partnership focused on driving sustainable development. The OPEC Fund has committed funding to various sectors including banking, energy, agriculture, transportation, and education, it added. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-27', 'modified' => '2024-06-27', 'keywords' => 'OPEC, Fund, bank, loan, agreement, Nepal, small, industries, women, entrepreneurship', 'description' => '', 'sortorder' => '21098', 'image' => '20240627111212_IMG-20240626-WA0000.jpg', 'article_date' => '2024-06-27 11:10:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '21349', 'article_category_id' => '218', 'title' => 'Profits of Banks Decline by 15 Percent', 'sub_title' => '', 'summary' => 'KATHMANDU: The profits of banks and financial institutions dropped by over 15 percent as of mid-May in the current fiscal year due to the decline in economic activities and weak loan recovery. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: The profits of banks and financial institutions dropped by over 15 percent as of mid-May in the current fiscal year due to the decline in economic activities and weak loan recovery. The slump in economic activities led to a decline in the banks' credit investment and an increase in the amount set aside for risk management, which impacted profits.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to Nepal Rastra Bank (NRB), banks earned a net profit of Rs 53.19 billion by mid-May, which is 15.03 percent less than the Rs 62.6 billion earned during the same period last year. However, compared to mid-April of the current year, the profit of banks and financial institutions increased by 19.08 percent. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">On May 26, NRB issued a directive that only 1.20 percent risk provisioning is required for good loans. The increase in the amount that banks must set aside for risk has also affected profits. By mid-May of this year, banks set aside Rs 78.58 billion for risk management, 46.56 percent more than the same period last year. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Currently, NRB requires banks to set aside 1.20 percent for good loans, 5 percent for micro-monitored loans, 25 percent for sub-standard loans, 50 percent for doubtful loans, and 100 percent for bad loans.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The profit of finance companies decreased by 63 percent compared to mid-May last year. In the last 10 months of the previous year, finance companies made a profit of Rs 1.14 billion, but this year, it has been limited to Rs 41 million. The amount that finance companies have to set aside for risk management increased by 43.78 percent.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Similarly, the profit of commercial banks decreased by 14.96 percent. Commercial banks earned Rs 57.16 billion by mid-May last year, but in the same period this year, they earned only Rs 48.60 billion.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to NRB, the profit of development banks was Rs 4.29 billion by mid-May 2023, but it decreased by 2.85 percent to Rs 4.17 billion in 2024.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">By mid-May of this year, deposits in banks and financial institutions increased by Rs 443.80 billion (7.8 percent), while lending increased by Rs 225.24 billion (4.7 percent). Banks’ income was affected because banks could not provide loans in proportion to the increase in deposits. The distributable profit of 10 commercial banks was negative in the third quarter this year due to non-recovery of loans.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Former President of Nepal Bankers Association Bhuwan Kumar Dahal stated that when economic activities slow down, bad loans of banks increase, affecting profits. "Banks have to set aside a large amount of money earned in provisioning," he said.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-24', 'modified' => '2024-06-24', 'keywords' => '', 'description' => '', 'sortorder' => '21075', 'image' => '20240624011617_bankkkkkkk.jpg', 'article_date' => '2024-06-24 13:15:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21348', 'article_category_id' => '218', 'title' => 'Bad Loans of Banks will not Decrease until Reforms in the Cooperatives Sector: NRB Governor Adhikari', 'sub_title' => '', 'summary' => 'KATHMANDU: Governor of Nepal Rastra Bank, Maha Prasad Adhikari, has stated that bad loans of the banking sector cannot be reduced unless the cooperatives sector is reformed. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Governor of Nepal Rastra Bank, Maha Prasad Adhikari, has stated that bad loans of the banking sector cannot be reduced unless the cooperatives sector is reformed. He expressed this view while speaking as the chief guest at a discussion on managing risky assets in the banking sector of Nepal on Sunday.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Adhikari emphasized the importance of the cooperative sector to the country's economy, noting that improvements in the banking sector and overall economy are dependent upon reforms in this sector. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">"It is time to think about cooperatives. Cooperatives play a significant role in the economy. Problems have arisen because cooperatives have been operating like banks. For 20 years, we have advocated for a secondary regulator for cooperatives, but the lack of implementation has led to the ongoing issues," he said. "Until this problem is solved, the bank's bad loans will not decrease, and the economy will not improve."</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">He stressed the need for an organization with skilled manpower to manage troubled cooperatives and a secondary regulator for managing other cooperatives.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Additionally, Adhikari pointed out that bad loans have increased due to ineffective monitoring of banks, financial instability, economic slowdown, recovery issues, and declining business morale. He mentioned that the central bank is now prioritizing credit scores to address these issues. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">"The wrong mentality that loans do not need to be repaid has contributed to the increase in bad loans," he said.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Adhikari also highlighted the necessity of political stability for economic stability, drawing parallels with other countries where political stability has led to economic stability. He dismissed market rumors about high bank profits, arguing that an average profit of 8 percent is not excessive.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Rajesh Upadhyay, senior vice president of the Confederation of Nepal Banks and Financial Institutions, echoed Adhikari's concerns about increasing bad loans, which he said are posing significant challenges to the economy. "There is pressure on bankers to keep bad loans below 5 percent as per the provision fixed by the Nepal Rastra Bank, but bad loans can exceed 4 percent," he said.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Upadhyay suggested that banks should focus on increasing reserves rather than equity to strengthen their position. He also recommended that banks and financial institutions prioritize reducing expenses by leveraging information technology.</span></span></p> ', 'published' => true, 'created' => '2024-06-24', 'modified' => '2024-06-24', 'keywords' => '', 'description' => '', 'sortorder' => '21074', 'image' => '20240624122346_830147c2.jpeg', 'article_date' => '2024-06-24 12:23:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21334', 'article_category_id' => '218', 'title' => 'Bad Debts of BFIs Soar to Highest Level in a Decade at 3.98 Percent', 'sub_title' => '', 'summary' => 'KATHMANDU: The bad debts of banks and financial institutions (BFIs) have surged to a 10-year peak of 3.98 percent, largely attributed to the economic slowdown following the COVID-19 pandemic.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: The bad debts of banks and financial institutions (BFIs) have surged to a 10-year peak of 3.98 percent, largely attributed to the economic slowdown following the COVID-19 pandemic.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A recent report prepared by Nepal Rastra Bank (NRB) indicates that the proportion of bad debt in BFIs was 3.76 percent a decade ago. This figure had decreased significantly to 1.31 percent by June 2022.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, as of mid-April this year, the bad loans of commercial banks have risen to 3.89 percent. Meanwhile, development banks and finance companies have recorded non-performing loans of 3.63 percent and 10.40 percent, respectively.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The number of cases at the Debt Recovery Tribunal formed to recover bad loans of banks and financial institutions has more than doubled this year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With banks encountering difficulties in loan recovery amidst a decline in economic activities, the number of cases filed with the tribunal has also begun to rise.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Banks can register a case at the tribunal if they are unable to recover the loan even from the mortgage auction. Information officer of the tribunal, Devendra Dhakal, said that the number of cases has increased as there is no condition to recover the loan from the mortgage due to the fall in real estate prices along with the economic slowdown.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As of mid-March of the current fiscal year (FY), banks and financial institutions have registered 342 cases at the tribunal. During the corresponding period last year, only 162 cases were registered. It shows that the number of cases has doubled this year. A total of 200 cases were registered at the tribunal last year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The central bank had earlier warned that credit risk is on the rise within commercial banks due to loans being issued without the completion of requisite procedures. Increasing bad loans of banks and financial institutions also indicate the rise in credit risk, the NRB said following a supervision of banks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the supervision report published by NRB in April, during the monitoring, some banks were found to have provided more loans than necessary without adequately assessing the needs of the borrowers. The central bank has stated that loans are given without maintaining a balance between the customer's assets and loan ratio. It also noted that the monitoring system after loan disbursement is weak.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the NRB study found that banks have given new loans to pay off old loans. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Nepal Rastra Bank sources, the quality of banking service is deteriorating due to the competition among banks to extend loans after the Covid- 19 pandemic.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Banks are under pressure to increase their profits by increasing their loans," said an executive director of Nepal Rastra Bank on condition of anonymity.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-06-21', 'modified' => '2024-06-21', 'keywords' => 'bad, debts. loans, banks, Nepal, rise', 'description' => '', 'sortorder' => '21062', 'image' => '20240621103125_20231108120244_badloan.jpg', 'article_date' => '2024-06-21 10:30:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21090', 'article_category_id' => '218', 'title' => 'Mahalaxmi Bikas Bank and NCHL sign MoU for Facilitating International Transactions', 'sub_title' => '', 'summary' => 'KATHMANDU: Mahalaxmi Bikas Bank and Nepal Clearing House Limited (NCHL) have signed a memorandum of understanding (MoU) for facilitating international transaction payments between Nepal and India.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Mahalaxmi Bikas Bank and Nepal Clearing House Limited (NCHL) have signed a memorandum of understanding (MoU) for facilitating international transaction payments between Nepal and India. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a recent statement, Mahalaxmi Bikas Bank claimed that it is the first development bank to enter into an agreement with NCHL for payments of international transactions. The bank has been able to provide this facility as there are Nostro accounts operating in India, the statement added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the agreement, Indian citizens in Nepal will be able to directly transfer funds to their accounts in India through any UPI handle linked account opened in Mahalaxmi Bikas Bank under the limit set by Nepal Rastra Bank.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, Nepali citizens in India can transfer money directly to Mahalaxmi Bikas Bank's UPI handle linked account in Nepal by using the UPI enabled app, subject to the limits set by the regulatory body in India. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This cross-border payment is expected to directly benefit students, pilgrims, tourists and customers going to India for medical treatment and vice versa. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chief Executive Officer of Mahalaxmi Bikas Bank Dipesh Lamsal and Chief Executive Officer Nileshman Singh Pradhan on behalf of NCHL signed the agreement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Embracing the slogan of "Strong Bank, Successful Cooperation", Mahalaxmi Bikas Bank said it has been continuously providing quality financial services at the doorsteps of Nepalese citizens for the past 29 years. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In addition, the 22nd annual general meeting of the bank held on January 13, 2024 also passed a resolution to bring foreign banks or financial institutions as strategic partners, the statement added.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-27', 'modified' => '2024-05-27', 'keywords' => '', 'description' => '', 'sortorder' => '20816', 'image' => '20240527022352_IMG-54ea918ad0afe60ae6e1194fabe09ebc-V.jpg', 'article_date' => '2024-05-27 14:23:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20987', 'article_category_id' => '218', 'title' => 'Global IME Bank Declared 'Best Bank in Nepal for 2024' by Global Finance Magazine', 'sub_title' => '', 'summary' => 'Kathmandu: Global IME Bank Limited has been awarded the prestigious title of the Best Bank in Nepal for 2024 by Global Finance Magazine. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kathmandu: Global IME Bank Limited has been awarded the prestigious title of the Best Bank in Nepal for 2024 by Global Finance Magazine. This accolade recognizes Global IME Bank's excellence in several key areas, including long-term reliability, effective financial resource mobilization, geographical expansion, and the development of strategic relationships, the bank said in a press statement. The bank said it has also excelled in its professional development, customer-focused services, and strong credit rating.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Each year, Global Finance Magazine honors leading banks across various regions such as Africa, Asia Pacific, Caribbean, Central America, Latin America, North America, Western and Eastern Europe and Middle East. This year's winners’ list includes prominent institutions like HSBC of Hong Kong, Bank of America of the USA, and the State Bank of India, Standard Chartered Bank Bangladesh, Metro Bank of the Philippines among others.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Global IME Bank claimed that it has become the first bank from Nepal to win this prestigious award.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With a network of over 1,100 service centers across Nepal, including 354 branches and 379 ATMs, Global IME Bank said it demonstrates a strong commitment to accessibility and customer service. Serving over 4.6 million customers, the bank offers a diverse range of services.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the bank, its commitment to innovation and customer satisfaction has been pivotal to its success. This achievement is supported by the loyalty of its customers, the dedication of its employees, and the backing of shareholders and regulatory bodies, the statement added.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-15', 'modified' => '2024-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '20712', 'image' => '20240515115845_36424603.jpeg', 'article_date' => '2024-05-15 11:57:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20677', 'article_category_id' => '218', 'title' => 'Standard Chartered Bank Nepal inaugurates Dharan branch', 'sub_title' => '', 'summary' => 'April 7: Standard Chartered Bank Nepal Limited has inaugurated its Dharan branch at Mukumlung Complex, Ramailo Chowk. Issuing a statement on Sunday, the bank said that the branch operation commenced on April 7.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">April 7: Standard Chartered Bank Nepal Limited has inaugurated its Dharan branch at Mukumlung Complex, Ramailo Chowk. Issuing a statement on Sunday, the bank said that the branch operation commenced on April 7.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to the SCB, the branch offers new interactive forms of banking with enhanced personal and customer-focused experiences along with complementary mobile banking and digital marketing products. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The bank said it has also adopted latest designs as per the global standards of Standard Chartered Bank that allows for new ways of working for the staff. The bank added that the branch has ample space for parking and ATM facilities along with dedicated spaces for Priority Banking customers including meeting rooms and waiting lounges. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The branch was jointly inaugurated by Indra Chamlagai Mainali, director Nepal Rastra Bank, Biratnagar Office, Major (Retired) Man B Gurung, head of the Veteran Services, British Gurkhas Nepal and Gorkah Rana, Deputy Chief Executive Officer (DCEO) of Standard Chartered Bank Nepal Limited. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The DCEO mentioned “We are happy to inaugurate our branch in Dharan which is a rapidly growing market. We have plans to further strengthen our presence and customer reach in other parts of the country as well. Standard Chartered Bank’s purpose in Nepal also is to drive commerce and prosperity and contribute to the country’s long term economic growth.” </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Niwesh Shrestha, the branch manager of Dharan and his staff welcomed the new and existing customers to the newly inaugurated 1800 square foot branch. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-08', 'modified' => '2024-04-08', 'keywords' => '', 'description' => '', 'sortorder' => '20404', 'image' => '20240408065124_IMG_9077-1_1.JPG', 'article_date' => '2024-04-08 18:50:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20283', 'article_category_id' => '218', 'title' => ' Aloi and Kumari Bank Collaborate for Digital Green Financing', 'sub_title' => '', 'summary' => 'February 18: Aloi Private Limited, a platform dedicated to lending to emerging market green micro-entrepreneurs through verified merchants, and Kumari Bank Limited announced the signing of a Memorandum of Understanding (MoU) on February 15 to explore, evaluate, cooperate, and potentially work towards initiating and upscaling sustainable and green financing through digital financial literacy programs.', 'content' => '<div> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif""><span style="font-family:"Times New Roman","serif"">February 18: Aloi Private Limited, a platform dedicated to lending to emerging market green micro-entrepreneurs through verified merchants, and Kumari Bank Limited announced the signing of a Memorandum of Understanding (MoU) on February 15 to facilitate green financing.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif""><span style="font-family:"Times New Roman","serif"">As per the MoU, the two organisations will explore, evaluate, cooperate, and potentially work towards initiating and upscaling sustainable and green financing through digital financial literacy programs.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif""><span style="font-family:"Times New Roman","serif"">The MoU signifies a strategic partnership aimed at digitizing green and sustainable financing, with an initial focus on digital financial literacy workshops, reads a joint statement issued by the organisations. Under this collaboration, Kumari Bank and Aloi Private Limited will work together to provide digital financial literacy workshops to MSMEs in the agricultural sector.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif""><span style="font-family:"Times New Roman","serif"">As per the statement, the agreement was formalized through the signing ceremony attended by Arpan Paudel, the Transaction Banking Head of Kumari Bank, and Sonika Manandhar, CTO/Co-Founder and Tiffany Tong CEO/Co-Founder of Aloi.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif""><span style="font-family:"Times New Roman","serif"">The association said it will focus on bridging the gap in micro-business loans, catering to entrepreneurs who require more financing than microfinance can provide but cannot access commercial bank loans.</span></span></span></p> </div> <p> </p> ', 'published' => true, 'created' => '2024-02-18', 'modified' => '2024-02-18', 'keywords' => '', 'description' => '', 'sortorder' => '20009', 'image' => '20240218033943_aloi.jpg', 'article_date' => '2024-02-18 15:37:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19675', 'article_category_id' => '218', 'title' => 'Standard Chartered Bank announces ‘Enhanced Parental Leave Benefits’ for its Employees', 'sub_title' => '', 'summary' => 'December 7: Standard Chartered Bank Nepal Limited (SCBNL) has announced ‘Enhanced Parental Leave Benefits’ for its employees as part of its commitment to fostering an equitable and inclusive culture.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 7: Standard Chartered Bank Nepal Limited (SCBNL) has announced ‘Enhanced Parental Leave Benefits’ for its employees as part of its commitment to fostering an equitable and inclusive culture. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a statement on Thursday, the bank said that its staff are eligible to avail a minimum of 20 weeks (140 calendar days) of paid Parental Leave – irrespective of gender, relationship status, or how a child comes to permanently join a family (ie adoption). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">SCBNL claimed that it is the first bank in the country to introduce such benefits for all its employees, aimed at levelling the playing field by allowing them the ability to partake equally in caregiving responsibilities for their children. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Accordingly, maternity, paternity, and adoption leave benefits (jointly referred to as ‘Parental Leave’) will be 140 calendar days,” reads the statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Rajan Udas, head of Human Resources at Standard Chartered Bank Nepal Limited (SCBNL) said, “Welcoming a child into a family is a momentous occasion and the bank wants to support colleagues through this key life event so that they can effectively balance both personal and professional priorities. We believe benefits such as this help address prevalent societal norms around traditional roles, improve workforce participation, and provide options to those who want to take up shared childcare responsibilities. This will positively impact families’ financial wellbeing and create a more inclusive workplace that supports everyone’s family planning choices.”</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-07', 'modified' => '2023-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '19403', 'image' => '20231207044116_parental-leave-slide1.jpg', 'article_date' => '2023-12-07 16:40:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19615', 'article_category_id' => '218', 'title' => 'Standard Chartered Bank contributes USD 100,000 to Support Quake Victims', 'sub_title' => '', 'summary' => 'December 1: Standard Chartered Bank on Friday announced a donation of USD 100,000 (NPR 13.3 million) to the British Red Cross, the bank’s emergency response partner, to support the victims of the recent earthquake in western Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 1: Standard Chartered Bank on Friday announced a donation of USD 100,000 (NPR 13.3 million) to the British Red Cross, the bank’s emergency response partner, to support the victims of the recent earthquake in western Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The funding will help to support the Nepal Red Cross Society in providing first aid and medical assistance, as well as essentials like food, water, and relief items including emergency shelter kits to families who have lost their homes in the earthquake and are exposed to the elements with the winter approaching, the bank said in a statement released on Friday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“We are deeply saddened by the damage caused by the earthquake and stand in solidarity with the victims. As the only international bank in Nepal, we are in a strong position to be a force for positive change in times of need,” said Anirvan Ghosh Dastidar, Chief Executive Officer of Standard Chartered Bank Nepal Limited (SCBNL), adding, “We hope our donation will help the relief efforts and support those who have been severely impacted by this unfortunate disaster. We are committed to supporting our communities – it is at the heart of our brand promise to be Here for Good.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The statement further said that Standard Chartered has been directly involved in the emergency response in the aftermath of this earthquake, which is the largest to impact Nepal since 2015, to support the victims and their families by providing food, emergency tents and sleeping bags. The bank is also raising funds internally to support the Red Cross in this cause.</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-01', 'modified' => '2023-12-04', 'keywords' => '', 'description' => '', 'sortorder' => '19342', 'image' => null, 'article_date' => '2023-12-01 21:42:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19570', 'article_category_id' => '218', 'title' => 'Kumari Bank Pays Rs 80 million to its Customers under Insurance Scheme', 'sub_title' => '', 'summary' => 'November 27: Kumari Bank Limited has paid insurance amount worth Rs 80 million to 4,500 customers of the bank under the 'Family Protection Savings Account' scheme.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 27: Kumari Bank Limited has paid insurance amount worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">80 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">million to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">500 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">customers of the bank under the 'Family Protection Savings Account' scheme. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The bank provided the amount in the last four years to its customers through a designated insurance company. The insurance amount was provided for the general check-up, hospital admission and treatment of serious illness and accidental death of customers under the 'Family Protection Savings Account' scheme. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the bank, the highest </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">36 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent of claims under the scheme were settled in Bagmati Province. Similarly, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent claims were settled in Madhesh Province and Gandaki Province respectively and the remaining amount was paid in other provinces. The bank made the highest amount of payment of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">54 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent for hospitalization insurance.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-27', 'modified' => '2023-11-27', 'keywords' => '', 'description' => '', 'sortorder' => '19298', 'image' => '20231127115705_1701054387.kumari-bank-2080-08-10.jpg', 'article_date' => '2023-11-27 11:56:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18568', 'article_category_id' => '218', 'title' => 'Sanima Bank Signs Partnership Deal with Swisscontact Nepal for Agro Financing', 'sub_title' => '', 'summary' => 'July 26: Sanima Bank has signed a partnership agreement with Swisscontact Nepal for the Phase II of Agriculture Market Development Program Phase with the goal of strengthening the capacity of the bank to finance agro-based SMEs in Koshi Province.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">July 26: Sanima Bank has signed a partnership agreement with Swisscontact Nepal for the Phase II of Agriculture Market Development Program Phase with the goal of strengthening the capacity of the bank to finance agro-based SMEs in Koshi Province.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The partnership aims to cater to the financial needs of agro-processing enterprises in Koshi Province, reads a press statement issued by the bank. The agreement will help carry out orientation and spread awareness in an innovative and effective way, added the statement. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to Sanima Bank, this partnership will optimize the digitization of the agro-loan processing, carry out promotional activities of agro-loan products, organize various client orientation and business literacy programs and build the capacity of the bank’s staff to cater to the agro-enterprises’ needs in an efficient way.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Deputy Chief Executive Officer of Sanima Bank, Tej Bahadur Chand, mentioned that the partnership would enable Sanima Bank to further strengthen its initiatives in better serving agriculture enterprises through innovative financial products and services. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Sanima Bank is currently providing services from 132 offices and 122 ATM networks across all 7 provinces.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-26', 'modified' => '2023-07-26', 'keywords' => '', 'description' => '', 'sortorder' => '18297', 'image' => '20230726020604_Photo_Partnership with Swisscontact.JPG', 'article_date' => '2023-07-26 14:04:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '21743', 'article_category_id' => '218', 'title' => ' Net Profit of Commercial Banks Jumps 13.4% in Last Fiscal Year', 'sub_title' => 'Nabil Bank posted the highest net profit of Rs 7.06 billion during the period, while Machhapuchchhre Bank recorded the lowest at Rs 1.25 billion.', 'summary' => '', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Pawan Pandey</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">KATHMANDU, August 5</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The total net profit of Nepal’s commercial banks surged by 13.4% in the fiscal year 2023/24, ending July 15. The 20 commercial banks collectively earned around Rs 64.15 billion in net profit, compared to approximately Rs 56.57 billion in the previous fiscal year, 2022/23.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">On Monday, the banks released their unaudited financial reports for the last quarter of the fiscal year, covering mid-April to mid-July 2024. The reports indicate that 10 of the 20 banks—Nabil Bank, Nepal Investment Mega Bank, Prabhu Bank, Prime Commercial Bank, Everest Bank, Agriculture Development Bank, Laxmi Sunrise Bank, Himalayan Bank, Kumari Bank, and Nepal SBI Bank —recorded an increase in net profit. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Conversely, Global IME Bank, Rastriya Banijya Bank, Standard Chartered Bank, Siddhartha Bank, Sanima Bank, NMB Bank, Nepal Bank Limited, NIC Asia Bank, Citizens Bank International, and Machhapuchchhre Bank saw decline in their net profits.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nabil Bank achieved the highest net profit of Rs 7.06 billion, while Machhapuchchhre Bank recorded the lowest at Rs 1.25 billion. Notably, Prabhu Bank experienced the largest increase in net profit, while NIC Asia saw the most significant decline.</span></span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Table below shows the net profit of the commercial banks in fiscal years 2023/24 and 2022/23.</span></span></strong></span></span></p> <p> </p> <table cellspacing="0" style="border-collapse:collapse"> <tbody> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Banks</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Net profit in FY 2023/24 (in Rs billion)</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Net profit in FY 2022/23 (in Rs billion)</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Change (%)</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Prabhu Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">4.48</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">0.28</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1499.04</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Kumari Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.3</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">0.51</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">345.67</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Prime Commercial Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.77</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.02</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">267.19</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Agricultural Development Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.65</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.32</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">176.23</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Himalayan Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.83</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.56</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">81.6</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nepal Investment Mega Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">5.19</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.72</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">39.71</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Laxmi Sunrise Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.03</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.28</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">32.79</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nabil Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">7.06</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">6.4</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">10.23</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Everest Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.7</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.36</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">10.07</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nepal SBI Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.01</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.96</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.35</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Standard Chartered Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.3</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.46</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-4.51</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Siddhartha Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.01</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.16</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-4.78</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Rastriya Banijya Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.39</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.59</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-5.48</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Sanima Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.38</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.6</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-8.59</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Global IME Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">6.01</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">6.69</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-10.13</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Machhapuchchhre Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.25</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.62</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-23.09</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">NMB Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.33</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.22</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-27.49</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Citizens Bank International</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.34</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.86</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-27.97</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nepal Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.65</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.43</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-51.8</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">NIC Asia Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.38</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">4.44</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-68.91</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Total</span></span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">64.15</span></span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">56.57</span></span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">13.4</span></span></strong></span></span></p> </td> </tr> </tbody> </table> <p><br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2024-08-05', 'modified' => '2024-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '21469', 'image' => '20240805022717_20240717011652_20240624011617_bankkkkkkk.jpg', 'article_date' => '2024-08-05 14:26:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '21624', 'article_category_id' => '218', 'title' => 'Global IME Bank Awarded with Two Euromoney Awards for Excellence 2024', 'sub_title' => '', 'summary' => 'KATHMANDU: Global IME Bank Limited has been honored with the Euromoney Award for Excellence 2024. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">KATHMANDU: Global IME Bank Limited has been honored with the Euromoney Award for Excellence 2024. Issuing a statement, the bank said it has been recognized as Nepal's Best Bank 2024 and Nepal’s Best Bank for ESG (Environmental, Social & Governance).</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">This is the second time Global IME Bank has been honored with this award, added the statement. Earlier, the bank was conferred with the "Euromoney Award for Excellence 2022 - Best Bank Nepal".</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The Euromoney Award is regarded as a coveted accolade in the global banking industry. Established in 1992, it recognizes outstanding performance in banking services across the globe.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">This year, Global IME Bank has also been awarded with the Best Bank Award 2024 by Global Finance.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Global IME Bank said it is proud to receive this coveted awards and vowed to continue providing exemplary banking services at all times.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-24', 'modified' => '2024-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '21346', 'image' => '20240724020751_blank eight by six.jpg', 'article_date' => '2024-07-24 14:06:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21562', 'article_category_id' => '218', 'title' => 'Credit Expansion of Banks Remain Dismal despite Drop in Interest Rates on Loans', 'sub_title' => '', 'summary' => 'KATHMANDU: Interest rates on both deposits and loans of banks and financial institutions have declined due to excess liquidity in the banking system.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: Interest rates on both deposits and loans of banks and financial institutions have declined due to excess liquidity in the banking system. The increase in liquidity has led banks to reduce interest rates on deposits, lowering costs and making interest on loans cheaper.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to information published by the banks, the quarterly average base rate of commercial banks was 8.35 percent from mid-May to mid-June of the current fiscal year. At the beginning of the previous year, the average quarterly base rate was 10.14 percent, but it decreased by 1.79 percentage points towards the end of the fiscal year. As banks reduced interest on deposits from mid-May to mid-July, it appears that the quarterly base rate to be implemented from mid-July will be even lower.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">With the decrease in the base rate, interest on loans have also become cheaper. According to the base rate determination procedure, banks and financial institutions determine the base rate by adding a 0.75 percent return to their cost. Banks then determine interest in loans by adding a premium to the base rate, with the current maximum premium being 4 percent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The base rate for the last three months is used when investing in a new loan, and the premium specified in the loan agreement cannot be changed. Thus, when the average base rate decreases each quarter, interest on loans automatically decrease and vice versa.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">From mid-May to mid-June, Standard Chartered Bank had the lowest quarterly base rate among commercial banks at 6.26 percent, while Kumari Bank had the highest at 9.48 percent. Sixteen banks have base rates below 9 percent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">"In the current year, after banks reduced interest on deposits, interest rates on loans also decreased," said former banker Parshuram Kunwar Chhetri. "However, interest rates on loans are still high." He explained that due to the lack of liquidity in previous years, banks raised long-term deposits at high interest rates, which kept loan interest rates from decreasing as expected. "The cost of banks is high because they raised deposits at high prices in the past. It seems that interest on loans will remain high until new, cheaper deposits are introduced."</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Due to the lack of liquidity, interest rates increased in previous years, but they have started to decrease since the recently ended fiscal year. As liquidity began to ease, the Nepal Bankers Association decided to end the gentlemen’s agreement at the beginning of the last fiscal year (mid-July 2023) and set interest rates at will. After that, the interest rates on deposits increased slightly until October but have been continuously decreasing since then.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In last July, the average interest rate on deposit of commercial banks was 9.83 percent, but it reached 10.26 percent in October. Since then, the average interest rate has continuously decreased to 6.72 percent as of July this year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Although the interest rates on loans have dropped, the credit flow from banks has not increased. By May, deposits in banks and financial institutions increased by 9 percent, while credit flow to the private sector increased by only 5.1 percent. The NRB's monetary policy for the year 2080/81 targets 11.5 percent credit expansion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Due to the increase in deposits, there is more than Rs 700 billion of investable capital in banks and financial institutions due to a lack of credit flow. By Sunday, banks and financial institutions had collected a total of Rs 6482 billion in deposits and disbursed loans of 5160 billion. On Sunday, the average credit-deposit ratio (CD ratio) of banks fell to 77.61 percent. Banks can grant loans by maintaining a CD ratio of up to 90 percent.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-17', 'modified' => '2024-07-17', 'keywords' => '', 'description' => '', 'sortorder' => '21288', 'image' => '20240717011652_20240624011617_bankkkkkkk.jpg', 'article_date' => '2024-07-17 13:16:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21373', 'article_category_id' => '218', 'title' => 'OPEC Fund Provides US$25 Million Loan to Global IME Bank', 'sub_title' => 'The Loan will be Utilized to Support Small Businesses and Enhance Climate Resilience in Nepal', 'summary' => ' KATHMANDU: The OPEC Fund for International Development has agreed to provide a loan of US$25 million to Global IME Bank Limited. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">KATHMANDU: The OPEC Fund for International Development has agreed to provide a loan of US$25 million to Global IME Bank Limited. Issuing a statement on Wednesday, Global IME Bank confirmed that it signed an agreement in this regard with the OPEC Fund.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">As per the agreement, the bank will utilize the loan to increase access to financing for micro, small, and medium enterprises (MSMEs), including women-owned enterprises, as well as climate-smart projects.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">OPEC Fund’s loan will help to address significant financing gaps for MSMEs, which make up 95 percent of Nepal's registered businesses and account for 45 percent of all jobs, said the bank.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Despite their importance, MSMEs struggle to receive funds and the financing gap for these enterprises is estimated at US$3.6 billion. Additionally, the bank said that the loan will enhance GIBL’s climate finance portfolio, vital for Nepal's efforts to mitigate climate change impacts.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">OPEC Fund President Abdulhamid Alkhalifa expressed happiness to partner with Global IME Bank to bolster support for MSMEs and climate-smart projects in Nepal. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">“These sectors are crucial for sustainable economic growth and resilience against climate change. Our loan will help address the significant financing gaps and promote inclusive development,” the statement quoted Alkhalifa as saying.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Similarly, Chief Executive Officer of Global IME Bank, Ratna Raj Bajracharya, said this loan agreement reinforces the bank’s commitment to finding local solutions through climate and gender financing to achieve global sustainability and inclusivity goals. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">“We aim to bridge the resource gap in Nepal's green energy sector and address gender disparity by empowering women economically through accessible financing," said Bajracharya, adding, "We are grateful to partner with the OPEC Fund in this endeavor. This collaboration will enhance our support for MSMEs, vital to Nepal's economy, and strengthen our efforts in promoting climate resilience and sustainable development. Together, we can significantly impact Nepal's journey towards a greener and more inclusive future."</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">According to the statement issued by the bank, Nepal ranks 94th globally in CO2 emissions, with half of its greenhouse gas emissions coming from the agriculture sector. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The country is highly vulnerable to climate change impacts, which disproportionately affect vulnerable communities, added the statement. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">“Increasing access to climate finance is essential for Nepal’s sustainable development, supporting initiatives such as clean transportation, climate-smart agriculture, and solar projects.”</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The statement added that the OPEC Fund and Nepal have a long-standing partnership focused on driving sustainable development. The OPEC Fund has committed funding to various sectors including banking, energy, agriculture, transportation, and education, it added. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-27', 'modified' => '2024-06-27', 'keywords' => 'OPEC, Fund, bank, loan, agreement, Nepal, small, industries, women, entrepreneurship', 'description' => '', 'sortorder' => '21098', 'image' => '20240627111212_IMG-20240626-WA0000.jpg', 'article_date' => '2024-06-27 11:10:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '21349', 'article_category_id' => '218', 'title' => 'Profits of Banks Decline by 15 Percent', 'sub_title' => '', 'summary' => 'KATHMANDU: The profits of banks and financial institutions dropped by over 15 percent as of mid-May in the current fiscal year due to the decline in economic activities and weak loan recovery. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: The profits of banks and financial institutions dropped by over 15 percent as of mid-May in the current fiscal year due to the decline in economic activities and weak loan recovery. The slump in economic activities led to a decline in the banks' credit investment and an increase in the amount set aside for risk management, which impacted profits.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to Nepal Rastra Bank (NRB), banks earned a net profit of Rs 53.19 billion by mid-May, which is 15.03 percent less than the Rs 62.6 billion earned during the same period last year. However, compared to mid-April of the current year, the profit of banks and financial institutions increased by 19.08 percent. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">On May 26, NRB issued a directive that only 1.20 percent risk provisioning is required for good loans. The increase in the amount that banks must set aside for risk has also affected profits. By mid-May of this year, banks set aside Rs 78.58 billion for risk management, 46.56 percent more than the same period last year. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Currently, NRB requires banks to set aside 1.20 percent for good loans, 5 percent for micro-monitored loans, 25 percent for sub-standard loans, 50 percent for doubtful loans, and 100 percent for bad loans.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The profit of finance companies decreased by 63 percent compared to mid-May last year. In the last 10 months of the previous year, finance companies made a profit of Rs 1.14 billion, but this year, it has been limited to Rs 41 million. The amount that finance companies have to set aside for risk management increased by 43.78 percent.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Similarly, the profit of commercial banks decreased by 14.96 percent. Commercial banks earned Rs 57.16 billion by mid-May last year, but in the same period this year, they earned only Rs 48.60 billion.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to NRB, the profit of development banks was Rs 4.29 billion by mid-May 2023, but it decreased by 2.85 percent to Rs 4.17 billion in 2024.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">By mid-May of this year, deposits in banks and financial institutions increased by Rs 443.80 billion (7.8 percent), while lending increased by Rs 225.24 billion (4.7 percent). Banks’ income was affected because banks could not provide loans in proportion to the increase in deposits. The distributable profit of 10 commercial banks was negative in the third quarter this year due to non-recovery of loans.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Former President of Nepal Bankers Association Bhuwan Kumar Dahal stated that when economic activities slow down, bad loans of banks increase, affecting profits. "Banks have to set aside a large amount of money earned in provisioning," he said.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-24', 'modified' => '2024-06-24', 'keywords' => '', 'description' => '', 'sortorder' => '21075', 'image' => '20240624011617_bankkkkkkk.jpg', 'article_date' => '2024-06-24 13:15:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21348', 'article_category_id' => '218', 'title' => 'Bad Loans of Banks will not Decrease until Reforms in the Cooperatives Sector: NRB Governor Adhikari', 'sub_title' => '', 'summary' => 'KATHMANDU: Governor of Nepal Rastra Bank, Maha Prasad Adhikari, has stated that bad loans of the banking sector cannot be reduced unless the cooperatives sector is reformed. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Governor of Nepal Rastra Bank, Maha Prasad Adhikari, has stated that bad loans of the banking sector cannot be reduced unless the cooperatives sector is reformed. He expressed this view while speaking as the chief guest at a discussion on managing risky assets in the banking sector of Nepal on Sunday.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Adhikari emphasized the importance of the cooperative sector to the country's economy, noting that improvements in the banking sector and overall economy are dependent upon reforms in this sector. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">"It is time to think about cooperatives. Cooperatives play a significant role in the economy. Problems have arisen because cooperatives have been operating like banks. For 20 years, we have advocated for a secondary regulator for cooperatives, but the lack of implementation has led to the ongoing issues," he said. "Until this problem is solved, the bank's bad loans will not decrease, and the economy will not improve."</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">He stressed the need for an organization with skilled manpower to manage troubled cooperatives and a secondary regulator for managing other cooperatives.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Additionally, Adhikari pointed out that bad loans have increased due to ineffective monitoring of banks, financial instability, economic slowdown, recovery issues, and declining business morale. He mentioned that the central bank is now prioritizing credit scores to address these issues. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">"The wrong mentality that loans do not need to be repaid has contributed to the increase in bad loans," he said.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Adhikari also highlighted the necessity of political stability for economic stability, drawing parallels with other countries where political stability has led to economic stability. He dismissed market rumors about high bank profits, arguing that an average profit of 8 percent is not excessive.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Rajesh Upadhyay, senior vice president of the Confederation of Nepal Banks and Financial Institutions, echoed Adhikari's concerns about increasing bad loans, which he said are posing significant challenges to the economy. "There is pressure on bankers to keep bad loans below 5 percent as per the provision fixed by the Nepal Rastra Bank, but bad loans can exceed 4 percent," he said.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Upadhyay suggested that banks should focus on increasing reserves rather than equity to strengthen their position. He also recommended that banks and financial institutions prioritize reducing expenses by leveraging information technology.</span></span></p> ', 'published' => true, 'created' => '2024-06-24', 'modified' => '2024-06-24', 'keywords' => '', 'description' => '', 'sortorder' => '21074', 'image' => '20240624122346_830147c2.jpeg', 'article_date' => '2024-06-24 12:23:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21334', 'article_category_id' => '218', 'title' => 'Bad Debts of BFIs Soar to Highest Level in a Decade at 3.98 Percent', 'sub_title' => '', 'summary' => 'KATHMANDU: The bad debts of banks and financial institutions (BFIs) have surged to a 10-year peak of 3.98 percent, largely attributed to the economic slowdown following the COVID-19 pandemic.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: The bad debts of banks and financial institutions (BFIs) have surged to a 10-year peak of 3.98 percent, largely attributed to the economic slowdown following the COVID-19 pandemic.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A recent report prepared by Nepal Rastra Bank (NRB) indicates that the proportion of bad debt in BFIs was 3.76 percent a decade ago. This figure had decreased significantly to 1.31 percent by June 2022.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, as of mid-April this year, the bad loans of commercial banks have risen to 3.89 percent. Meanwhile, development banks and finance companies have recorded non-performing loans of 3.63 percent and 10.40 percent, respectively.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The number of cases at the Debt Recovery Tribunal formed to recover bad loans of banks and financial institutions has more than doubled this year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With banks encountering difficulties in loan recovery amidst a decline in economic activities, the number of cases filed with the tribunal has also begun to rise.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Banks can register a case at the tribunal if they are unable to recover the loan even from the mortgage auction. Information officer of the tribunal, Devendra Dhakal, said that the number of cases has increased as there is no condition to recover the loan from the mortgage due to the fall in real estate prices along with the economic slowdown.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As of mid-March of the current fiscal year (FY), banks and financial institutions have registered 342 cases at the tribunal. During the corresponding period last year, only 162 cases were registered. It shows that the number of cases has doubled this year. A total of 200 cases were registered at the tribunal last year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The central bank had earlier warned that credit risk is on the rise within commercial banks due to loans being issued without the completion of requisite procedures. Increasing bad loans of banks and financial institutions also indicate the rise in credit risk, the NRB said following a supervision of banks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the supervision report published by NRB in April, during the monitoring, some banks were found to have provided more loans than necessary without adequately assessing the needs of the borrowers. The central bank has stated that loans are given without maintaining a balance between the customer's assets and loan ratio. It also noted that the monitoring system after loan disbursement is weak.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the NRB study found that banks have given new loans to pay off old loans. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Nepal Rastra Bank sources, the quality of banking service is deteriorating due to the competition among banks to extend loans after the Covid- 19 pandemic.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Banks are under pressure to increase their profits by increasing their loans," said an executive director of Nepal Rastra Bank on condition of anonymity.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-06-21', 'modified' => '2024-06-21', 'keywords' => 'bad, debts. loans, banks, Nepal, rise', 'description' => '', 'sortorder' => '21062', 'image' => '20240621103125_20231108120244_badloan.jpg', 'article_date' => '2024-06-21 10:30:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21090', 'article_category_id' => '218', 'title' => 'Mahalaxmi Bikas Bank and NCHL sign MoU for Facilitating International Transactions', 'sub_title' => '', 'summary' => 'KATHMANDU: Mahalaxmi Bikas Bank and Nepal Clearing House Limited (NCHL) have signed a memorandum of understanding (MoU) for facilitating international transaction payments between Nepal and India.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Mahalaxmi Bikas Bank and Nepal Clearing House Limited (NCHL) have signed a memorandum of understanding (MoU) for facilitating international transaction payments between Nepal and India. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a recent statement, Mahalaxmi Bikas Bank claimed that it is the first development bank to enter into an agreement with NCHL for payments of international transactions. The bank has been able to provide this facility as there are Nostro accounts operating in India, the statement added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the agreement, Indian citizens in Nepal will be able to directly transfer funds to their accounts in India through any UPI handle linked account opened in Mahalaxmi Bikas Bank under the limit set by Nepal Rastra Bank.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, Nepali citizens in India can transfer money directly to Mahalaxmi Bikas Bank's UPI handle linked account in Nepal by using the UPI enabled app, subject to the limits set by the regulatory body in India. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This cross-border payment is expected to directly benefit students, pilgrims, tourists and customers going to India for medical treatment and vice versa. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chief Executive Officer of Mahalaxmi Bikas Bank Dipesh Lamsal and Chief Executive Officer Nileshman Singh Pradhan on behalf of NCHL signed the agreement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Embracing the slogan of "Strong Bank, Successful Cooperation", Mahalaxmi Bikas Bank said it has been continuously providing quality financial services at the doorsteps of Nepalese citizens for the past 29 years. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In addition, the 22nd annual general meeting of the bank held on January 13, 2024 also passed a resolution to bring foreign banks or financial institutions as strategic partners, the statement added.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-27', 'modified' => '2024-05-27', 'keywords' => '', 'description' => '', 'sortorder' => '20816', 'image' => '20240527022352_IMG-54ea918ad0afe60ae6e1194fabe09ebc-V.jpg', 'article_date' => '2024-05-27 14:23:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20987', 'article_category_id' => '218', 'title' => 'Global IME Bank Declared 'Best Bank in Nepal for 2024' by Global Finance Magazine', 'sub_title' => '', 'summary' => 'Kathmandu: Global IME Bank Limited has been awarded the prestigious title of the Best Bank in Nepal for 2024 by Global Finance Magazine. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kathmandu: Global IME Bank Limited has been awarded the prestigious title of the Best Bank in Nepal for 2024 by Global Finance Magazine. This accolade recognizes Global IME Bank's excellence in several key areas, including long-term reliability, effective financial resource mobilization, geographical expansion, and the development of strategic relationships, the bank said in a press statement. The bank said it has also excelled in its professional development, customer-focused services, and strong credit rating.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Each year, Global Finance Magazine honors leading banks across various regions such as Africa, Asia Pacific, Caribbean, Central America, Latin America, North America, Western and Eastern Europe and Middle East. This year's winners’ list includes prominent institutions like HSBC of Hong Kong, Bank of America of the USA, and the State Bank of India, Standard Chartered Bank Bangladesh, Metro Bank of the Philippines among others.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Global IME Bank claimed that it has become the first bank from Nepal to win this prestigious award.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With a network of over 1,100 service centers across Nepal, including 354 branches and 379 ATMs, Global IME Bank said it demonstrates a strong commitment to accessibility and customer service. Serving over 4.6 million customers, the bank offers a diverse range of services.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the bank, its commitment to innovation and customer satisfaction has been pivotal to its success. This achievement is supported by the loyalty of its customers, the dedication of its employees, and the backing of shareholders and regulatory bodies, the statement added.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-15', 'modified' => '2024-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '20712', 'image' => '20240515115845_36424603.jpeg', 'article_date' => '2024-05-15 11:57:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20677', 'article_category_id' => '218', 'title' => 'Standard Chartered Bank Nepal inaugurates Dharan branch', 'sub_title' => '', 'summary' => 'April 7: Standard Chartered Bank Nepal Limited has inaugurated its Dharan branch at Mukumlung Complex, Ramailo Chowk. Issuing a statement on Sunday, the bank said that the branch operation commenced on April 7.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">April 7: Standard Chartered Bank Nepal Limited has inaugurated its Dharan branch at Mukumlung Complex, Ramailo Chowk. Issuing a statement on Sunday, the bank said that the branch operation commenced on April 7.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to the SCB, the branch offers new interactive forms of banking with enhanced personal and customer-focused experiences along with complementary mobile banking and digital marketing products. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The bank said it has also adopted latest designs as per the global standards of Standard Chartered Bank that allows for new ways of working for the staff. The bank added that the branch has ample space for parking and ATM facilities along with dedicated spaces for Priority Banking customers including meeting rooms and waiting lounges. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The branch was jointly inaugurated by Indra Chamlagai Mainali, director Nepal Rastra Bank, Biratnagar Office, Major (Retired) Man B Gurung, head of the Veteran Services, British Gurkhas Nepal and Gorkah Rana, Deputy Chief Executive Officer (DCEO) of Standard Chartered Bank Nepal Limited. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The DCEO mentioned “We are happy to inaugurate our branch in Dharan which is a rapidly growing market. We have plans to further strengthen our presence and customer reach in other parts of the country as well. Standard Chartered Bank’s purpose in Nepal also is to drive commerce and prosperity and contribute to the country’s long term economic growth.” </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Niwesh Shrestha, the branch manager of Dharan and his staff welcomed the new and existing customers to the newly inaugurated 1800 square foot branch. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-08', 'modified' => '2024-04-08', 'keywords' => '', 'description' => '', 'sortorder' => '20404', 'image' => '20240408065124_IMG_9077-1_1.JPG', 'article_date' => '2024-04-08 18:50:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20283', 'article_category_id' => '218', 'title' => ' Aloi and Kumari Bank Collaborate for Digital Green Financing', 'sub_title' => '', 'summary' => 'February 18: Aloi Private Limited, a platform dedicated to lending to emerging market green micro-entrepreneurs through verified merchants, and Kumari Bank Limited announced the signing of a Memorandum of Understanding (MoU) on February 15 to explore, evaluate, cooperate, and potentially work towards initiating and upscaling sustainable and green financing through digital financial literacy programs.', 'content' => '<div> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif""><span style="font-family:"Times New Roman","serif"">February 18: Aloi Private Limited, a platform dedicated to lending to emerging market green micro-entrepreneurs through verified merchants, and Kumari Bank Limited announced the signing of a Memorandum of Understanding (MoU) on February 15 to facilitate green financing.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif""><span style="font-family:"Times New Roman","serif"">As per the MoU, the two organisations will explore, evaluate, cooperate, and potentially work towards initiating and upscaling sustainable and green financing through digital financial literacy programs.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif""><span style="font-family:"Times New Roman","serif"">The MoU signifies a strategic partnership aimed at digitizing green and sustainable financing, with an initial focus on digital financial literacy workshops, reads a joint statement issued by the organisations. Under this collaboration, Kumari Bank and Aloi Private Limited will work together to provide digital financial literacy workshops to MSMEs in the agricultural sector.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif""><span style="font-family:"Times New Roman","serif"">As per the statement, the agreement was formalized through the signing ceremony attended by Arpan Paudel, the Transaction Banking Head of Kumari Bank, and Sonika Manandhar, CTO/Co-Founder and Tiffany Tong CEO/Co-Founder of Aloi.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif""><span style="font-family:"Times New Roman","serif"">The association said it will focus on bridging the gap in micro-business loans, catering to entrepreneurs who require more financing than microfinance can provide but cannot access commercial bank loans.</span></span></span></p> </div> <p> </p> ', 'published' => true, 'created' => '2024-02-18', 'modified' => '2024-02-18', 'keywords' => '', 'description' => '', 'sortorder' => '20009', 'image' => '20240218033943_aloi.jpg', 'article_date' => '2024-02-18 15:37:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19675', 'article_category_id' => '218', 'title' => 'Standard Chartered Bank announces ‘Enhanced Parental Leave Benefits’ for its Employees', 'sub_title' => '', 'summary' => 'December 7: Standard Chartered Bank Nepal Limited (SCBNL) has announced ‘Enhanced Parental Leave Benefits’ for its employees as part of its commitment to fostering an equitable and inclusive culture.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 7: Standard Chartered Bank Nepal Limited (SCBNL) has announced ‘Enhanced Parental Leave Benefits’ for its employees as part of its commitment to fostering an equitable and inclusive culture. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a statement on Thursday, the bank said that its staff are eligible to avail a minimum of 20 weeks (140 calendar days) of paid Parental Leave – irrespective of gender, relationship status, or how a child comes to permanently join a family (ie adoption). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">SCBNL claimed that it is the first bank in the country to introduce such benefits for all its employees, aimed at levelling the playing field by allowing them the ability to partake equally in caregiving responsibilities for their children. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Accordingly, maternity, paternity, and adoption leave benefits (jointly referred to as ‘Parental Leave’) will be 140 calendar days,” reads the statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Rajan Udas, head of Human Resources at Standard Chartered Bank Nepal Limited (SCBNL) said, “Welcoming a child into a family is a momentous occasion and the bank wants to support colleagues through this key life event so that they can effectively balance both personal and professional priorities. We believe benefits such as this help address prevalent societal norms around traditional roles, improve workforce participation, and provide options to those who want to take up shared childcare responsibilities. This will positively impact families’ financial wellbeing and create a more inclusive workplace that supports everyone’s family planning choices.”</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-07', 'modified' => '2023-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '19403', 'image' => '20231207044116_parental-leave-slide1.jpg', 'article_date' => '2023-12-07 16:40:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19615', 'article_category_id' => '218', 'title' => 'Standard Chartered Bank contributes USD 100,000 to Support Quake Victims', 'sub_title' => '', 'summary' => 'December 1: Standard Chartered Bank on Friday announced a donation of USD 100,000 (NPR 13.3 million) to the British Red Cross, the bank’s emergency response partner, to support the victims of the recent earthquake in western Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 1: Standard Chartered Bank on Friday announced a donation of USD 100,000 (NPR 13.3 million) to the British Red Cross, the bank’s emergency response partner, to support the victims of the recent earthquake in western Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The funding will help to support the Nepal Red Cross Society in providing first aid and medical assistance, as well as essentials like food, water, and relief items including emergency shelter kits to families who have lost their homes in the earthquake and are exposed to the elements with the winter approaching, the bank said in a statement released on Friday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“We are deeply saddened by the damage caused by the earthquake and stand in solidarity with the victims. As the only international bank in Nepal, we are in a strong position to be a force for positive change in times of need,” said Anirvan Ghosh Dastidar, Chief Executive Officer of Standard Chartered Bank Nepal Limited (SCBNL), adding, “We hope our donation will help the relief efforts and support those who have been severely impacted by this unfortunate disaster. We are committed to supporting our communities – it is at the heart of our brand promise to be Here for Good.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The statement further said that Standard Chartered has been directly involved in the emergency response in the aftermath of this earthquake, which is the largest to impact Nepal since 2015, to support the victims and their families by providing food, emergency tents and sleeping bags. The bank is also raising funds internally to support the Red Cross in this cause.</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-01', 'modified' => '2023-12-04', 'keywords' => '', 'description' => '', 'sortorder' => '19342', 'image' => null, 'article_date' => '2023-12-01 21:42:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19570', 'article_category_id' => '218', 'title' => 'Kumari Bank Pays Rs 80 million to its Customers under Insurance Scheme', 'sub_title' => '', 'summary' => 'November 27: Kumari Bank Limited has paid insurance amount worth Rs 80 million to 4,500 customers of the bank under the 'Family Protection Savings Account' scheme.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 27: Kumari Bank Limited has paid insurance amount worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">80 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">million to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">500 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">customers of the bank under the 'Family Protection Savings Account' scheme. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The bank provided the amount in the last four years to its customers through a designated insurance company. The insurance amount was provided for the general check-up, hospital admission and treatment of serious illness and accidental death of customers under the 'Family Protection Savings Account' scheme. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the bank, the highest </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">36 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent of claims under the scheme were settled in Bagmati Province. Similarly, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent claims were settled in Madhesh Province and Gandaki Province respectively and the remaining amount was paid in other provinces. The bank made the highest amount of payment of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">54 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent for hospitalization insurance.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-27', 'modified' => '2023-11-27', 'keywords' => '', 'description' => '', 'sortorder' => '19298', 'image' => '20231127115705_1701054387.kumari-bank-2080-08-10.jpg', 'article_date' => '2023-11-27 11:56:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18568', 'article_category_id' => '218', 'title' => 'Sanima Bank Signs Partnership Deal with Swisscontact Nepal for Agro Financing', 'sub_title' => '', 'summary' => 'July 26: Sanima Bank has signed a partnership agreement with Swisscontact Nepal for the Phase II of Agriculture Market Development Program Phase with the goal of strengthening the capacity of the bank to finance agro-based SMEs in Koshi Province.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">July 26: Sanima Bank has signed a partnership agreement with Swisscontact Nepal for the Phase II of Agriculture Market Development Program Phase with the goal of strengthening the capacity of the bank to finance agro-based SMEs in Koshi Province.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The partnership aims to cater to the financial needs of agro-processing enterprises in Koshi Province, reads a press statement issued by the bank. The agreement will help carry out orientation and spread awareness in an innovative and effective way, added the statement. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to Sanima Bank, this partnership will optimize the digitization of the agro-loan processing, carry out promotional activities of agro-loan products, organize various client orientation and business literacy programs and build the capacity of the bank’s staff to cater to the agro-enterprises’ needs in an efficient way.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Deputy Chief Executive Officer of Sanima Bank, Tej Bahadur Chand, mentioned that the partnership would enable Sanima Bank to further strengthen its initiatives in better serving agriculture enterprises through innovative financial products and services. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Sanima Bank is currently providing services from 132 offices and 122 ATM networks across all 7 provinces.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-26', 'modified' => '2023-07-26', 'keywords' => '', 'description' => '', 'sortorder' => '18297', 'image' => '20230726020604_Photo_Partnership with Swisscontact.JPG', 'article_date' => '2023-07-26 14:04:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '21743', 'article_category_id' => '218', 'title' => ' Net Profit of Commercial Banks Jumps 13.4% in Last Fiscal Year', 'sub_title' => 'Nabil Bank posted the highest net profit of Rs 7.06 billion during the period, while Machhapuchchhre Bank recorded the lowest at Rs 1.25 billion.', 'summary' => '', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Pawan Pandey</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">KATHMANDU, August 5</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The total net profit of Nepal’s commercial banks surged by 13.4% in the fiscal year 2023/24, ending July 15. The 20 commercial banks collectively earned around Rs 64.15 billion in net profit, compared to approximately Rs 56.57 billion in the previous fiscal year, 2022/23.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">On Monday, the banks released their unaudited financial reports for the last quarter of the fiscal year, covering mid-April to mid-July 2024. The reports indicate that 10 of the 20 banks—Nabil Bank, Nepal Investment Mega Bank, Prabhu Bank, Prime Commercial Bank, Everest Bank, Agriculture Development Bank, Laxmi Sunrise Bank, Himalayan Bank, Kumari Bank, and Nepal SBI Bank —recorded an increase in net profit. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Conversely, Global IME Bank, Rastriya Banijya Bank, Standard Chartered Bank, Siddhartha Bank, Sanima Bank, NMB Bank, Nepal Bank Limited, NIC Asia Bank, Citizens Bank International, and Machhapuchchhre Bank saw decline in their net profits.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nabil Bank achieved the highest net profit of Rs 7.06 billion, while Machhapuchchhre Bank recorded the lowest at Rs 1.25 billion. Notably, Prabhu Bank experienced the largest increase in net profit, while NIC Asia saw the most significant decline.</span></span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Table below shows the net profit of the commercial banks in fiscal years 2023/24 and 2022/23.</span></span></strong></span></span></p> <p> </p> <table cellspacing="0" style="border-collapse:collapse"> <tbody> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Banks</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Net profit in FY 2023/24 (in Rs billion)</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Net profit in FY 2022/23 (in Rs billion)</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Change (%)</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Prabhu Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">4.48</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">0.28</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1499.04</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Kumari Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.3</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">0.51</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">345.67</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Prime Commercial Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.77</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.02</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">267.19</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Agricultural Development Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.65</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.32</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">176.23</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Himalayan Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.83</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.56</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">81.6</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nepal Investment Mega Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">5.19</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.72</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">39.71</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Laxmi Sunrise Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.03</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.28</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">32.79</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nabil Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">7.06</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">6.4</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">10.23</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Everest Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.7</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.36</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">10.07</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nepal SBI Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.01</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.96</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.35</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Standard Chartered Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.3</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.46</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-4.51</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Siddhartha Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.01</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.16</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-4.78</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Rastriya Banijya Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.39</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.59</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-5.48</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Sanima Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.38</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.6</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-8.59</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Global IME Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">6.01</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">6.69</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-10.13</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Machhapuchchhre Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.25</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.62</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-23.09</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">NMB Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.33</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.22</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-27.49</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Citizens Bank International</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.34</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.86</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-27.97</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nepal Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.65</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.43</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-51.8</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">NIC Asia Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.38</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">4.44</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-68.91</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Total</span></span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">64.15</span></span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">56.57</span></span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">13.4</span></span></strong></span></span></p> </td> </tr> </tbody> </table> <p><br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2024-08-05', 'modified' => '2024-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '21469', 'image' => '20240805022717_20240717011652_20240624011617_bankkkkkkk.jpg', 'article_date' => '2024-08-05 14:26:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '21624', 'article_category_id' => '218', 'title' => 'Global IME Bank Awarded with Two Euromoney Awards for Excellence 2024', 'sub_title' => '', 'summary' => 'KATHMANDU: Global IME Bank Limited has been honored with the Euromoney Award for Excellence 2024. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">KATHMANDU: Global IME Bank Limited has been honored with the Euromoney Award for Excellence 2024. Issuing a statement, the bank said it has been recognized as Nepal's Best Bank 2024 and Nepal’s Best Bank for ESG (Environmental, Social & Governance).</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">This is the second time Global IME Bank has been honored with this award, added the statement. Earlier, the bank was conferred with the "Euromoney Award for Excellence 2022 - Best Bank Nepal".</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The Euromoney Award is regarded as a coveted accolade in the global banking industry. Established in 1992, it recognizes outstanding performance in banking services across the globe.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">This year, Global IME Bank has also been awarded with the Best Bank Award 2024 by Global Finance.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Global IME Bank said it is proud to receive this coveted awards and vowed to continue providing exemplary banking services at all times.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-24', 'modified' => '2024-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '21346', 'image' => '20240724020751_blank eight by six.jpg', 'article_date' => '2024-07-24 14:06:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21562', 'article_category_id' => '218', 'title' => 'Credit Expansion of Banks Remain Dismal despite Drop in Interest Rates on Loans', 'sub_title' => '', 'summary' => 'KATHMANDU: Interest rates on both deposits and loans of banks and financial institutions have declined due to excess liquidity in the banking system.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: Interest rates on both deposits and loans of banks and financial institutions have declined due to excess liquidity in the banking system. The increase in liquidity has led banks to reduce interest rates on deposits, lowering costs and making interest on loans cheaper.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to information published by the banks, the quarterly average base rate of commercial banks was 8.35 percent from mid-May to mid-June of the current fiscal year. At the beginning of the previous year, the average quarterly base rate was 10.14 percent, but it decreased by 1.79 percentage points towards the end of the fiscal year. As banks reduced interest on deposits from mid-May to mid-July, it appears that the quarterly base rate to be implemented from mid-July will be even lower.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">With the decrease in the base rate, interest on loans have also become cheaper. According to the base rate determination procedure, banks and financial institutions determine the base rate by adding a 0.75 percent return to their cost. Banks then determine interest in loans by adding a premium to the base rate, with the current maximum premium being 4 percent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The base rate for the last three months is used when investing in a new loan, and the premium specified in the loan agreement cannot be changed. Thus, when the average base rate decreases each quarter, interest on loans automatically decrease and vice versa.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">From mid-May to mid-June, Standard Chartered Bank had the lowest quarterly base rate among commercial banks at 6.26 percent, while Kumari Bank had the highest at 9.48 percent. Sixteen banks have base rates below 9 percent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">"In the current year, after banks reduced interest on deposits, interest rates on loans also decreased," said former banker Parshuram Kunwar Chhetri. "However, interest rates on loans are still high." He explained that due to the lack of liquidity in previous years, banks raised long-term deposits at high interest rates, which kept loan interest rates from decreasing as expected. "The cost of banks is high because they raised deposits at high prices in the past. It seems that interest on loans will remain high until new, cheaper deposits are introduced."</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Due to the lack of liquidity, interest rates increased in previous years, but they have started to decrease since the recently ended fiscal year. As liquidity began to ease, the Nepal Bankers Association decided to end the gentlemen’s agreement at the beginning of the last fiscal year (mid-July 2023) and set interest rates at will. After that, the interest rates on deposits increased slightly until October but have been continuously decreasing since then.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In last July, the average interest rate on deposit of commercial banks was 9.83 percent, but it reached 10.26 percent in October. Since then, the average interest rate has continuously decreased to 6.72 percent as of July this year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Although the interest rates on loans have dropped, the credit flow from banks has not increased. By May, deposits in banks and financial institutions increased by 9 percent, while credit flow to the private sector increased by only 5.1 percent. The NRB's monetary policy for the year 2080/81 targets 11.5 percent credit expansion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Due to the increase in deposits, there is more than Rs 700 billion of investable capital in banks and financial institutions due to a lack of credit flow. By Sunday, banks and financial institutions had collected a total of Rs 6482 billion in deposits and disbursed loans of 5160 billion. On Sunday, the average credit-deposit ratio (CD ratio) of banks fell to 77.61 percent. Banks can grant loans by maintaining a CD ratio of up to 90 percent.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-17', 'modified' => '2024-07-17', 'keywords' => '', 'description' => '', 'sortorder' => '21288', 'image' => '20240717011652_20240624011617_bankkkkkkk.jpg', 'article_date' => '2024-07-17 13:16:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21373', 'article_category_id' => '218', 'title' => 'OPEC Fund Provides US$25 Million Loan to Global IME Bank', 'sub_title' => 'The Loan will be Utilized to Support Small Businesses and Enhance Climate Resilience in Nepal', 'summary' => ' KATHMANDU: The OPEC Fund for International Development has agreed to provide a loan of US$25 million to Global IME Bank Limited. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">KATHMANDU: The OPEC Fund for International Development has agreed to provide a loan of US$25 million to Global IME Bank Limited. Issuing a statement on Wednesday, Global IME Bank confirmed that it signed an agreement in this regard with the OPEC Fund.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">As per the agreement, the bank will utilize the loan to increase access to financing for micro, small, and medium enterprises (MSMEs), including women-owned enterprises, as well as climate-smart projects.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">OPEC Fund’s loan will help to address significant financing gaps for MSMEs, which make up 95 percent of Nepal's registered businesses and account for 45 percent of all jobs, said the bank.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Despite their importance, MSMEs struggle to receive funds and the financing gap for these enterprises is estimated at US$3.6 billion. Additionally, the bank said that the loan will enhance GIBL’s climate finance portfolio, vital for Nepal's efforts to mitigate climate change impacts.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">OPEC Fund President Abdulhamid Alkhalifa expressed happiness to partner with Global IME Bank to bolster support for MSMEs and climate-smart projects in Nepal. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">“These sectors are crucial for sustainable economic growth and resilience against climate change. Our loan will help address the significant financing gaps and promote inclusive development,” the statement quoted Alkhalifa as saying.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Similarly, Chief Executive Officer of Global IME Bank, Ratna Raj Bajracharya, said this loan agreement reinforces the bank’s commitment to finding local solutions through climate and gender financing to achieve global sustainability and inclusivity goals. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">“We aim to bridge the resource gap in Nepal's green energy sector and address gender disparity by empowering women economically through accessible financing," said Bajracharya, adding, "We are grateful to partner with the OPEC Fund in this endeavor. This collaboration will enhance our support for MSMEs, vital to Nepal's economy, and strengthen our efforts in promoting climate resilience and sustainable development. Together, we can significantly impact Nepal's journey towards a greener and more inclusive future."</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">According to the statement issued by the bank, Nepal ranks 94th globally in CO2 emissions, with half of its greenhouse gas emissions coming from the agriculture sector. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The country is highly vulnerable to climate change impacts, which disproportionately affect vulnerable communities, added the statement. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">“Increasing access to climate finance is essential for Nepal’s sustainable development, supporting initiatives such as clean transportation, climate-smart agriculture, and solar projects.”</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The statement added that the OPEC Fund and Nepal have a long-standing partnership focused on driving sustainable development. The OPEC Fund has committed funding to various sectors including banking, energy, agriculture, transportation, and education, it added. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-27', 'modified' => '2024-06-27', 'keywords' => 'OPEC, Fund, bank, loan, agreement, Nepal, small, industries, women, entrepreneurship', 'description' => '', 'sortorder' => '21098', 'image' => '20240627111212_IMG-20240626-WA0000.jpg', 'article_date' => '2024-06-27 11:10:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '21349', 'article_category_id' => '218', 'title' => 'Profits of Banks Decline by 15 Percent', 'sub_title' => '', 'summary' => 'KATHMANDU: The profits of banks and financial institutions dropped by over 15 percent as of mid-May in the current fiscal year due to the decline in economic activities and weak loan recovery. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: The profits of banks and financial institutions dropped by over 15 percent as of mid-May in the current fiscal year due to the decline in economic activities and weak loan recovery. The slump in economic activities led to a decline in the banks' credit investment and an increase in the amount set aside for risk management, which impacted profits.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to Nepal Rastra Bank (NRB), banks earned a net profit of Rs 53.19 billion by mid-May, which is 15.03 percent less than the Rs 62.6 billion earned during the same period last year. However, compared to mid-April of the current year, the profit of banks and financial institutions increased by 19.08 percent. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">On May 26, NRB issued a directive that only 1.20 percent risk provisioning is required for good loans. The increase in the amount that banks must set aside for risk has also affected profits. By mid-May of this year, banks set aside Rs 78.58 billion for risk management, 46.56 percent more than the same period last year. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Currently, NRB requires banks to set aside 1.20 percent for good loans, 5 percent for micro-monitored loans, 25 percent for sub-standard loans, 50 percent for doubtful loans, and 100 percent for bad loans.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The profit of finance companies decreased by 63 percent compared to mid-May last year. In the last 10 months of the previous year, finance companies made a profit of Rs 1.14 billion, but this year, it has been limited to Rs 41 million. The amount that finance companies have to set aside for risk management increased by 43.78 percent.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Similarly, the profit of commercial banks decreased by 14.96 percent. Commercial banks earned Rs 57.16 billion by mid-May last year, but in the same period this year, they earned only Rs 48.60 billion.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to NRB, the profit of development banks was Rs 4.29 billion by mid-May 2023, but it decreased by 2.85 percent to Rs 4.17 billion in 2024.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">By mid-May of this year, deposits in banks and financial institutions increased by Rs 443.80 billion (7.8 percent), while lending increased by Rs 225.24 billion (4.7 percent). Banks’ income was affected because banks could not provide loans in proportion to the increase in deposits. The distributable profit of 10 commercial banks was negative in the third quarter this year due to non-recovery of loans.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Former President of Nepal Bankers Association Bhuwan Kumar Dahal stated that when economic activities slow down, bad loans of banks increase, affecting profits. "Banks have to set aside a large amount of money earned in provisioning," he said.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-24', 'modified' => '2024-06-24', 'keywords' => '', 'description' => '', 'sortorder' => '21075', 'image' => '20240624011617_bankkkkkkk.jpg', 'article_date' => '2024-06-24 13:15:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21348', 'article_category_id' => '218', 'title' => 'Bad Loans of Banks will not Decrease until Reforms in the Cooperatives Sector: NRB Governor Adhikari', 'sub_title' => '', 'summary' => 'KATHMANDU: Governor of Nepal Rastra Bank, Maha Prasad Adhikari, has stated that bad loans of the banking sector cannot be reduced unless the cooperatives sector is reformed. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Governor of Nepal Rastra Bank, Maha Prasad Adhikari, has stated that bad loans of the banking sector cannot be reduced unless the cooperatives sector is reformed. He expressed this view while speaking as the chief guest at a discussion on managing risky assets in the banking sector of Nepal on Sunday.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Adhikari emphasized the importance of the cooperative sector to the country's economy, noting that improvements in the banking sector and overall economy are dependent upon reforms in this sector. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">"It is time to think about cooperatives. Cooperatives play a significant role in the economy. Problems have arisen because cooperatives have been operating like banks. For 20 years, we have advocated for a secondary regulator for cooperatives, but the lack of implementation has led to the ongoing issues," he said. "Until this problem is solved, the bank's bad loans will not decrease, and the economy will not improve."</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">He stressed the need for an organization with skilled manpower to manage troubled cooperatives and a secondary regulator for managing other cooperatives.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Additionally, Adhikari pointed out that bad loans have increased due to ineffective monitoring of banks, financial instability, economic slowdown, recovery issues, and declining business morale. He mentioned that the central bank is now prioritizing credit scores to address these issues. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">"The wrong mentality that loans do not need to be repaid has contributed to the increase in bad loans," he said.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Adhikari also highlighted the necessity of political stability for economic stability, drawing parallels with other countries where political stability has led to economic stability. He dismissed market rumors about high bank profits, arguing that an average profit of 8 percent is not excessive.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Rajesh Upadhyay, senior vice president of the Confederation of Nepal Banks and Financial Institutions, echoed Adhikari's concerns about increasing bad loans, which he said are posing significant challenges to the economy. "There is pressure on bankers to keep bad loans below 5 percent as per the provision fixed by the Nepal Rastra Bank, but bad loans can exceed 4 percent," he said.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Upadhyay suggested that banks should focus on increasing reserves rather than equity to strengthen their position. He also recommended that banks and financial institutions prioritize reducing expenses by leveraging information technology.</span></span></p> ', 'published' => true, 'created' => '2024-06-24', 'modified' => '2024-06-24', 'keywords' => '', 'description' => '', 'sortorder' => '21074', 'image' => '20240624122346_830147c2.jpeg', 'article_date' => '2024-06-24 12:23:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21334', 'article_category_id' => '218', 'title' => 'Bad Debts of BFIs Soar to Highest Level in a Decade at 3.98 Percent', 'sub_title' => '', 'summary' => 'KATHMANDU: The bad debts of banks and financial institutions (BFIs) have surged to a 10-year peak of 3.98 percent, largely attributed to the economic slowdown following the COVID-19 pandemic.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: The bad debts of banks and financial institutions (BFIs) have surged to a 10-year peak of 3.98 percent, largely attributed to the economic slowdown following the COVID-19 pandemic.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A recent report prepared by Nepal Rastra Bank (NRB) indicates that the proportion of bad debt in BFIs was 3.76 percent a decade ago. This figure had decreased significantly to 1.31 percent by June 2022.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, as of mid-April this year, the bad loans of commercial banks have risen to 3.89 percent. Meanwhile, development banks and finance companies have recorded non-performing loans of 3.63 percent and 10.40 percent, respectively.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The number of cases at the Debt Recovery Tribunal formed to recover bad loans of banks and financial institutions has more than doubled this year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With banks encountering difficulties in loan recovery amidst a decline in economic activities, the number of cases filed with the tribunal has also begun to rise.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Banks can register a case at the tribunal if they are unable to recover the loan even from the mortgage auction. Information officer of the tribunal, Devendra Dhakal, said that the number of cases has increased as there is no condition to recover the loan from the mortgage due to the fall in real estate prices along with the economic slowdown.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As of mid-March of the current fiscal year (FY), banks and financial institutions have registered 342 cases at the tribunal. During the corresponding period last year, only 162 cases were registered. It shows that the number of cases has doubled this year. A total of 200 cases were registered at the tribunal last year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The central bank had earlier warned that credit risk is on the rise within commercial banks due to loans being issued without the completion of requisite procedures. Increasing bad loans of banks and financial institutions also indicate the rise in credit risk, the NRB said following a supervision of banks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the supervision report published by NRB in April, during the monitoring, some banks were found to have provided more loans than necessary without adequately assessing the needs of the borrowers. The central bank has stated that loans are given without maintaining a balance between the customer's assets and loan ratio. It also noted that the monitoring system after loan disbursement is weak.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the NRB study found that banks have given new loans to pay off old loans. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Nepal Rastra Bank sources, the quality of banking service is deteriorating due to the competition among banks to extend loans after the Covid- 19 pandemic.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Banks are under pressure to increase their profits by increasing their loans," said an executive director of Nepal Rastra Bank on condition of anonymity.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-06-21', 'modified' => '2024-06-21', 'keywords' => 'bad, debts. loans, banks, Nepal, rise', 'description' => '', 'sortorder' => '21062', 'image' => '20240621103125_20231108120244_badloan.jpg', 'article_date' => '2024-06-21 10:30:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21090', 'article_category_id' => '218', 'title' => 'Mahalaxmi Bikas Bank and NCHL sign MoU for Facilitating International Transactions', 'sub_title' => '', 'summary' => 'KATHMANDU: Mahalaxmi Bikas Bank and Nepal Clearing House Limited (NCHL) have signed a memorandum of understanding (MoU) for facilitating international transaction payments between Nepal and India.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Mahalaxmi Bikas Bank and Nepal Clearing House Limited (NCHL) have signed a memorandum of understanding (MoU) for facilitating international transaction payments between Nepal and India. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a recent statement, Mahalaxmi Bikas Bank claimed that it is the first development bank to enter into an agreement with NCHL for payments of international transactions. The bank has been able to provide this facility as there are Nostro accounts operating in India, the statement added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the agreement, Indian citizens in Nepal will be able to directly transfer funds to their accounts in India through any UPI handle linked account opened in Mahalaxmi Bikas Bank under the limit set by Nepal Rastra Bank.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, Nepali citizens in India can transfer money directly to Mahalaxmi Bikas Bank's UPI handle linked account in Nepal by using the UPI enabled app, subject to the limits set by the regulatory body in India. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This cross-border payment is expected to directly benefit students, pilgrims, tourists and customers going to India for medical treatment and vice versa. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chief Executive Officer of Mahalaxmi Bikas Bank Dipesh Lamsal and Chief Executive Officer Nileshman Singh Pradhan on behalf of NCHL signed the agreement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Embracing the slogan of "Strong Bank, Successful Cooperation", Mahalaxmi Bikas Bank said it has been continuously providing quality financial services at the doorsteps of Nepalese citizens for the past 29 years. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In addition, the 22nd annual general meeting of the bank held on January 13, 2024 also passed a resolution to bring foreign banks or financial institutions as strategic partners, the statement added.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-27', 'modified' => '2024-05-27', 'keywords' => '', 'description' => '', 'sortorder' => '20816', 'image' => '20240527022352_IMG-54ea918ad0afe60ae6e1194fabe09ebc-V.jpg', 'article_date' => '2024-05-27 14:23:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20987', 'article_category_id' => '218', 'title' => 'Global IME Bank Declared 'Best Bank in Nepal for 2024' by Global Finance Magazine', 'sub_title' => '', 'summary' => 'Kathmandu: Global IME Bank Limited has been awarded the prestigious title of the Best Bank in Nepal for 2024 by Global Finance Magazine. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kathmandu: Global IME Bank Limited has been awarded the prestigious title of the Best Bank in Nepal for 2024 by Global Finance Magazine. This accolade recognizes Global IME Bank's excellence in several key areas, including long-term reliability, effective financial resource mobilization, geographical expansion, and the development of strategic relationships, the bank said in a press statement. The bank said it has also excelled in its professional development, customer-focused services, and strong credit rating.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Each year, Global Finance Magazine honors leading banks across various regions such as Africa, Asia Pacific, Caribbean, Central America, Latin America, North America, Western and Eastern Europe and Middle East. This year's winners’ list includes prominent institutions like HSBC of Hong Kong, Bank of America of the USA, and the State Bank of India, Standard Chartered Bank Bangladesh, Metro Bank of the Philippines among others.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Global IME Bank claimed that it has become the first bank from Nepal to win this prestigious award.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With a network of over 1,100 service centers across Nepal, including 354 branches and 379 ATMs, Global IME Bank said it demonstrates a strong commitment to accessibility and customer service. Serving over 4.6 million customers, the bank offers a diverse range of services.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the bank, its commitment to innovation and customer satisfaction has been pivotal to its success. This achievement is supported by the loyalty of its customers, the dedication of its employees, and the backing of shareholders and regulatory bodies, the statement added.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-15', 'modified' => '2024-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '20712', 'image' => '20240515115845_36424603.jpeg', 'article_date' => '2024-05-15 11:57:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20677', 'article_category_id' => '218', 'title' => 'Standard Chartered Bank Nepal inaugurates Dharan branch', 'sub_title' => '', 'summary' => 'April 7: Standard Chartered Bank Nepal Limited has inaugurated its Dharan branch at Mukumlung Complex, Ramailo Chowk. Issuing a statement on Sunday, the bank said that the branch operation commenced on April 7.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">April 7: Standard Chartered Bank Nepal Limited has inaugurated its Dharan branch at Mukumlung Complex, Ramailo Chowk. Issuing a statement on Sunday, the bank said that the branch operation commenced on April 7.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to the SCB, the branch offers new interactive forms of banking with enhanced personal and customer-focused experiences along with complementary mobile banking and digital marketing products. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The bank said it has also adopted latest designs as per the global standards of Standard Chartered Bank that allows for new ways of working for the staff. The bank added that the branch has ample space for parking and ATM facilities along with dedicated spaces for Priority Banking customers including meeting rooms and waiting lounges. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The branch was jointly inaugurated by Indra Chamlagai Mainali, director Nepal Rastra Bank, Biratnagar Office, Major (Retired) Man B Gurung, head of the Veteran Services, British Gurkhas Nepal and Gorkah Rana, Deputy Chief Executive Officer (DCEO) of Standard Chartered Bank Nepal Limited. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The DCEO mentioned “We are happy to inaugurate our branch in Dharan which is a rapidly growing market. We have plans to further strengthen our presence and customer reach in other parts of the country as well. Standard Chartered Bank’s purpose in Nepal also is to drive commerce and prosperity and contribute to the country’s long term economic growth.” </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Niwesh Shrestha, the branch manager of Dharan and his staff welcomed the new and existing customers to the newly inaugurated 1800 square foot branch. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-08', 'modified' => '2024-04-08', 'keywords' => '', 'description' => '', 'sortorder' => '20404', 'image' => '20240408065124_IMG_9077-1_1.JPG', 'article_date' => '2024-04-08 18:50:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20283', 'article_category_id' => '218', 'title' => ' Aloi and Kumari Bank Collaborate for Digital Green Financing', 'sub_title' => '', 'summary' => 'February 18: Aloi Private Limited, a platform dedicated to lending to emerging market green micro-entrepreneurs through verified merchants, and Kumari Bank Limited announced the signing of a Memorandum of Understanding (MoU) on February 15 to explore, evaluate, cooperate, and potentially work towards initiating and upscaling sustainable and green financing through digital financial literacy programs.', 'content' => '<div> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif""><span style="font-family:"Times New Roman","serif"">February 18: Aloi Private Limited, a platform dedicated to lending to emerging market green micro-entrepreneurs through verified merchants, and Kumari Bank Limited announced the signing of a Memorandum of Understanding (MoU) on February 15 to facilitate green financing.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif""><span style="font-family:"Times New Roman","serif"">As per the MoU, the two organisations will explore, evaluate, cooperate, and potentially work towards initiating and upscaling sustainable and green financing through digital financial literacy programs.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif""><span style="font-family:"Times New Roman","serif"">The MoU signifies a strategic partnership aimed at digitizing green and sustainable financing, with an initial focus on digital financial literacy workshops, reads a joint statement issued by the organisations. Under this collaboration, Kumari Bank and Aloi Private Limited will work together to provide digital financial literacy workshops to MSMEs in the agricultural sector.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif""><span style="font-family:"Times New Roman","serif"">As per the statement, the agreement was formalized through the signing ceremony attended by Arpan Paudel, the Transaction Banking Head of Kumari Bank, and Sonika Manandhar, CTO/Co-Founder and Tiffany Tong CEO/Co-Founder of Aloi.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif""><span style="font-family:"Times New Roman","serif"">The association said it will focus on bridging the gap in micro-business loans, catering to entrepreneurs who require more financing than microfinance can provide but cannot access commercial bank loans.</span></span></span></p> </div> <p> </p> ', 'published' => true, 'created' => '2024-02-18', 'modified' => '2024-02-18', 'keywords' => '', 'description' => '', 'sortorder' => '20009', 'image' => '20240218033943_aloi.jpg', 'article_date' => '2024-02-18 15:37:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19675', 'article_category_id' => '218', 'title' => 'Standard Chartered Bank announces ‘Enhanced Parental Leave Benefits’ for its Employees', 'sub_title' => '', 'summary' => 'December 7: Standard Chartered Bank Nepal Limited (SCBNL) has announced ‘Enhanced Parental Leave Benefits’ for its employees as part of its commitment to fostering an equitable and inclusive culture.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 7: Standard Chartered Bank Nepal Limited (SCBNL) has announced ‘Enhanced Parental Leave Benefits’ for its employees as part of its commitment to fostering an equitable and inclusive culture. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a statement on Thursday, the bank said that its staff are eligible to avail a minimum of 20 weeks (140 calendar days) of paid Parental Leave – irrespective of gender, relationship status, or how a child comes to permanently join a family (ie adoption). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">SCBNL claimed that it is the first bank in the country to introduce such benefits for all its employees, aimed at levelling the playing field by allowing them the ability to partake equally in caregiving responsibilities for their children. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Accordingly, maternity, paternity, and adoption leave benefits (jointly referred to as ‘Parental Leave’) will be 140 calendar days,” reads the statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Rajan Udas, head of Human Resources at Standard Chartered Bank Nepal Limited (SCBNL) said, “Welcoming a child into a family is a momentous occasion and the bank wants to support colleagues through this key life event so that they can effectively balance both personal and professional priorities. We believe benefits such as this help address prevalent societal norms around traditional roles, improve workforce participation, and provide options to those who want to take up shared childcare responsibilities. This will positively impact families’ financial wellbeing and create a more inclusive workplace that supports everyone’s family planning choices.”</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-07', 'modified' => '2023-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '19403', 'image' => '20231207044116_parental-leave-slide1.jpg', 'article_date' => '2023-12-07 16:40:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19615', 'article_category_id' => '218', 'title' => 'Standard Chartered Bank contributes USD 100,000 to Support Quake Victims', 'sub_title' => '', 'summary' => 'December 1: Standard Chartered Bank on Friday announced a donation of USD 100,000 (NPR 13.3 million) to the British Red Cross, the bank’s emergency response partner, to support the victims of the recent earthquake in western Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 1: Standard Chartered Bank on Friday announced a donation of USD 100,000 (NPR 13.3 million) to the British Red Cross, the bank’s emergency response partner, to support the victims of the recent earthquake in western Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The funding will help to support the Nepal Red Cross Society in providing first aid and medical assistance, as well as essentials like food, water, and relief items including emergency shelter kits to families who have lost their homes in the earthquake and are exposed to the elements with the winter approaching, the bank said in a statement released on Friday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“We are deeply saddened by the damage caused by the earthquake and stand in solidarity with the victims. As the only international bank in Nepal, we are in a strong position to be a force for positive change in times of need,” said Anirvan Ghosh Dastidar, Chief Executive Officer of Standard Chartered Bank Nepal Limited (SCBNL), adding, “We hope our donation will help the relief efforts and support those who have been severely impacted by this unfortunate disaster. We are committed to supporting our communities – it is at the heart of our brand promise to be Here for Good.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The statement further said that Standard Chartered has been directly involved in the emergency response in the aftermath of this earthquake, which is the largest to impact Nepal since 2015, to support the victims and their families by providing food, emergency tents and sleeping bags. The bank is also raising funds internally to support the Red Cross in this cause.</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-01', 'modified' => '2023-12-04', 'keywords' => '', 'description' => '', 'sortorder' => '19342', 'image' => null, 'article_date' => '2023-12-01 21:42:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19570', 'article_category_id' => '218', 'title' => 'Kumari Bank Pays Rs 80 million to its Customers under Insurance Scheme', 'sub_title' => '', 'summary' => 'November 27: Kumari Bank Limited has paid insurance amount worth Rs 80 million to 4,500 customers of the bank under the 'Family Protection Savings Account' scheme.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 27: Kumari Bank Limited has paid insurance amount worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">80 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">million to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">500 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">customers of the bank under the 'Family Protection Savings Account' scheme. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The bank provided the amount in the last four years to its customers through a designated insurance company. The insurance amount was provided for the general check-up, hospital admission and treatment of serious illness and accidental death of customers under the 'Family Protection Savings Account' scheme. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the bank, the highest </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">36 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent of claims under the scheme were settled in Bagmati Province. Similarly, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent claims were settled in Madhesh Province and Gandaki Province respectively and the remaining amount was paid in other provinces. The bank made the highest amount of payment of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">54 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent for hospitalization insurance.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-27', 'modified' => '2023-11-27', 'keywords' => '', 'description' => '', 'sortorder' => '19298', 'image' => '20231127115705_1701054387.kumari-bank-2080-08-10.jpg', 'article_date' => '2023-11-27 11:56:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18568', 'article_category_id' => '218', 'title' => 'Sanima Bank Signs Partnership Deal with Swisscontact Nepal for Agro Financing', 'sub_title' => '', 'summary' => 'July 26: Sanima Bank has signed a partnership agreement with Swisscontact Nepal for the Phase II of Agriculture Market Development Program Phase with the goal of strengthening the capacity of the bank to finance agro-based SMEs in Koshi Province.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">July 26: Sanima Bank has signed a partnership agreement with Swisscontact Nepal for the Phase II of Agriculture Market Development Program Phase with the goal of strengthening the capacity of the bank to finance agro-based SMEs in Koshi Province.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The partnership aims to cater to the financial needs of agro-processing enterprises in Koshi Province, reads a press statement issued by the bank. The agreement will help carry out orientation and spread awareness in an innovative and effective way, added the statement. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to Sanima Bank, this partnership will optimize the digitization of the agro-loan processing, carry out promotional activities of agro-loan products, organize various client orientation and business literacy programs and build the capacity of the bank’s staff to cater to the agro-enterprises’ needs in an efficient way.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Deputy Chief Executive Officer of Sanima Bank, Tej Bahadur Chand, mentioned that the partnership would enable Sanima Bank to further strengthen its initiatives in better serving agriculture enterprises through innovative financial products and services. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Sanima Bank is currently providing services from 132 offices and 122 ATM networks across all 7 provinces.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-26', 'modified' => '2023-07-26', 'keywords' => '', 'description' => '', 'sortorder' => '18297', 'image' => '20230726020604_Photo_Partnership with Swisscontact.JPG', 'article_date' => '2023-07-26 14:04:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
