Standard Chartered Bank, Nepal has won ‘The Global Finance World’s Best Banks 2015 Awards’ for Nepal conferred by the Global Finance magazine. The Bank also shares the title of ‘The World’s Best Emerging Markets Banks in Asia-Pacific 2015’ along with other winners in the region. Global Finance magazine has named the ‘World’s Best Emerging Markets Banks in Asia-Pacific’ in an exclusive survey to be published in the May 2015 issue. Global Finance editors, with input from industry analysts, corporate executives and banking consultants, selected the best emerging markets bank in the region and in 25 countries. Criteria for choosing the winners included growth in assets, profitability, strategic relationships, customer service, competitive pricing, and innovative products. This is the twenty-second year that the magazine has selected top banking performers in emerging markets. The report covers best banks in Latin America, Central & Eastern Europe, Asia-Pacific, the Middle East and Africa. This is the second time in a row that Standard Chartered Nepal has bagged this Award.  

 

Civil Bank Limited has introduced a short term fixed deposit scheme named ‘Civil 555 Muddati Patra’. According to the Bank, the product is introduced in commemoration of the Bank entering its 5th year of operation. It has tenure of 5 months and 5 days and can be opened with a minimum amount of Rs 500,000. The scheme offers interest rate of 7.07%. The Bank’s Chief Executive Officer Kishore Maharjan said that this scheme will attract many customers in the present market scenario where banks are offering comparatively much lower interest rates.  

 

NMB Bank has launched ‘NMB Sulav Karja’ and ‘Personal Business Loan’ as part of its SME banking portfolio. According to the Bank, ‘NMB Bank Sulav Karja’ provides loan facility from Rs 500,000 to a maximum of 3.3 million rupees, with a processing period of three days. The loan will be available to registered small and medium enterprises. Similarly, ‘Personal Business Loan’ finances individual entrepreneurs with loan amount ranging from Rs 300,000 to 1.5 million rupees. The loan can be availed by unregistered small and medium enterprise as well. “‘NMB Bank SulavKarja’ and ‘Personal Business Loan’ are designed to cater to small and medium enterprises and individuals who have limited or no access to finance and empower such businesses and individuals for growth,” says a statement issued by the Bank.

 

Laxmi Bank has opened a new branch in Musikot, Rukum. According to the Bank, the Rukum branch aims to further strengthen its network in the mid-western region.  “Rukum is a great fit to our overall brand and business strategy of reaching out to the emerging urban and semi-urban markets and empowering its customers with products and services delivered through a channel of their choice: branch, internet or mobile phones,” says the Bank in a statement. The 40th branch of the Bank also offers ATM services to its customers. 

 

Machhapuchhre Bank Limited has opened its 56th branch at Matihani Bazaar of Mahottari. Chairman of the Bank Birendra Prasad Mahato inaugurated the branch amid a function. According to the Bank, the new branch offers services like Any Branch Banking Service, telephone and mobile bill payment, internet banking, SMS banking and ATM card among others. The branch also has an ATM in its premises. 

 

Nepal SBI Bank has come up with three new savings deposit schemes. The newly lauched schemes are ‘NSBL Baal Bachat Khata’, ‘Karnadhaar Bachat Khata’ and ‘NSBL Combo Savings Scheme’.  According to the Bank, ‘NSBL Baal Bachat Khata’ and ‘Karnadhaar Bachat Khata’ are targeted to children below sixteen years of age, and the schemes are expected to help guardians to develop banking habits in their children. Both the accounts can be opened with a minimum balance of Rs 501, with interest rate of 3 % per annum to be calculated on daily balance and payable quarterly. Likewise, ‘NSBL Combo Savings Scheme’ is the merged variant of normal saving account and NSBL Mobile Banking Scheme, which can be opened at zero balance. In this account, customer will get free Internet Banking Service, free Cheque Book and higher interest rate than Normal Saving Account.