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May 22,2015
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22/5/2015
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With the government requiring huge resources for the relief, rehabilitation and reconstruction purposes after the earthquakes, it has started homework to raise internal loans aft...  [more...]
Nepal Stock Exchange (Nepse) — the country’s only secondary market — will remain closed the coming week as well as some big investors and the brokerage companie...  [more...]
The government has painted a bleak picture of national economy, saying that almost all major economic fundamentals will be battered by the earthquake. According to officials o...  [more...]
On Wednesday morning, a woman in her late 40s walked into the Maharajgunj branch of NIC Asia Bank and asked for a form to apply for a locker. In the next 15 minutes, two more peo...  [more...]
Though most of the banks and financial institutions (BFIs) resumed normal operation on Wednesday, transactions fell significantly as only few clients approached the BFIs for bank...  [more...]
Nepal Stock Exchange (Nepse) — the country’s only secondary market — today, said that the stock market will reopen from May 17. Nepse still remains closed after...  [more...]
Earthquake victims will now be able to get bank loans at just two percent to rebuild or repair their damaged houses. The Nepal Rastra Bank (NRB) is all set to launch a scheme tha...  [more...]
Earthquake victims will now be able to get bank loans at just two percent to rebuild or repair their damaged houses. The Nepal Rastra Bank (NRB) is all set to launch a scheme tha...  [more...]
With a majority of loans being extended against collaterals of land and houses, the banks and financial institutions (BFIs) have raised concerns about loan recovery and their fin...  [more...]
Finance Minister Ram Sharan Mahat today called on development partners to increase the flow of aid to Nepal to help rebuild areas devastated by the 7.6-Richter earthquake of Apri...  [more...]
Banks and financial institutions (BFIs) have started converting their promoter shares into ordinary shares after the Securities Board of Nepal (Sebon) declared that they could br...  [more...]
RUPAK D SHARMA Even a farmer in a rural area can use goats‚ cows or paddy as collateral to legally obtain loan from another village resident - Anil Chandra Adhikari‚...  [more...]
Citizens Bank International recently raised interest rate on auto loan by 0.5 percentage point. Sanima Bank, which until some time ago was extending home loan at eight to nine pe...  [more...]
Nepali banks that issued a counter guarantee in the Melamchi Drinking Water Project contract have planned to appeal to the Supreme Court after the Patan Appellate Court ordered t...  [more...]
Nepal Rastra Bank (NRB) will soon get authority to take any troubled bank or financial institution (BFI) into liquidation process, thereby curtailing the roles of court. The N...  [more...]
World Bank on Wednesday said Nepal's economic growth will remain in range of 4.5 to 5 percent in 2015. "The fact that consumption remains the country's main growt...  [more...]
The 52nd Annual Report of the Office of the Auditor General (OAG) has revealed that borrowers have not been using loans for the stated purpose in a confirmation of Nepal Rastra B...  [more...]
Nepal Rastra Bank (NRB) is collecting Rs 5 billion from bank and financial institutions (BFIs) through its 'deposit collection' instrument. Publishing a notice on Wednesd...  [more...]
Nepal Rastra Bank (NRB) Governor Chiranjibi Nepal has urged bankers to shed the mentality that the central regulatory bank will take care of bank and financial institutions (BFIs...  [more...]
Initial Public Offering (IPO) of Vijaya Laghubitta Bittiya Sansatha Limited is coming to an end today. The company had floated a total of 4,20,000 kitta shares as part of its IPO...  [more...]
Country’s commercial banks have started facing liquidity squeeze as their lending grew twice as much as the deposits. Credit expanded by 17.22 percent (Rs 155 billion) a...  [more...]
Global IME Bank on Thursday inaugurated its representative office in Sydney, Australia, becoming the first Nepali commercial bank to open its office in the country. Inaugurati...  [more...]
Banks and financial institutions have now been given additional time to comply with a stringent regulatory provision that compels them to set aside five per cent of the total loa...  [more...]
Nepal Rastra Bank (NRB), the banking sector regulator, has declared Lalitpur Finance Ltd (LFL) problematic, after the proportion of bad debt at the finance company ballooned and ...  [more...]
A rise in lending and near stagnant deposits has led to a tight liquidity situation at some banks, and institutional depositors are seeing this as an opportunity to bargain for h...  [more...]
In a major blow to bankers, the Nepal Rastra Bank (NRB) has indicated that it will not renege on its decision, making five percent provisioning on suspicious loans mandatory for ...  [more...]
The Nepal Bank Limited (NBL) board on Thursday appointed Devendra Pratap Shah as its chief executive officer (CEO). Former general manager of Agriculture Development Bank and ...  [more...]
The latest central bank provision that makes it mandatory to set aside additional funds to cover potential lending risks may prompt banks and financial institutions to exert undu...  [more...]
Nepal Rastra Bank (NRB) has said it will relinquish its hold on the management of Nepal Credit and Commerce (NCC) Bank only after initiating a merger process to dilute the shareh...  [more...]
Nepal Purbadhar Bikas Company Ltd (NPBCL) has submitted financial closure report to the government once again to build the Kathmandu-Kulekhani-Hetauda Tunnel Highway. This time, ...  [more...]
Laxmi Value Fund-1  allotment result made public .According to a top official involved in managing the fund, investors who had applied for units worth Rs 50,000 are set to g...  [more...]
The Parliamentary Committee on Finance today directed the government to modify its fiscal calendar and ensure the financial year begins from the first day of Nepali month of Asar...  [more...]
ILFCO Microfinance Bittiya Sanstha Limited has announced its Initial Public Offering of 400,000 unit shares on Tuesday. The microfinance company plans to raise Rs 40 million t...  [more...]
Newly appointed Nepal Rastra Bank (NRB) Governor Chiranjibi Nepal has said he will not make any compromise on upholding financial discipline in the country. Speaking at a cere...  [more...]
- To assume office next week - Expected to give continuity to positive steps taken by Khatiwada Ending days of speculation, the government today appointed economist Chiranjee...  [more...]
Nepal Rastra Bank (NRB) has directed D class financial institutions to become a member of the Credit Information Bureau (CIB) so that they can access the credit history of their ...  [more...]
Ncell has started a study to launch initial public offering (IPO). A high-level committee of TeliaSonera -- the parent company of Ncell -- visited Nepal lost month to conduct ...  [more...]
Upper Tamakoshi Hydropower Project Ltd (UTKHPL) is planning to issue its Initial Public Offering (IPO) to general public by the end of the current fiscal year 2014/15. Accordi...  [more...]
 Two days before the tenure of Nepal Rastra Bank (NRB) Governor Yubaraj Khatiwada ends, the search for a new central bank chief is at the final stage. According to source...  [more...]
Nepal Rastra Bank (NRB) on Friday ordered banks and financial institutions (BFIs) to add a new category watch list in their loan classification list.   BFIs will now have...  [more...]
KATHMANDU: Nepal Rastra Bank (NRB) today floated an instrument called ‘term deposit’ to mop up Rs five billion from the banking sector, as portion of excess liquidity...  [more...]
Nepal Rastra Bank (NRB) Governor Yubaraj Khatiwada today said international auditing companies should be allowed to conduct external audits of domestic banks and financial instit...  [more...]
ICRA Nepal has assigned an “[ICRANP] IPO Grade 4,” to the initial public offering of Sajha Bikas Bank Limited (SBBL) and Mahila Sahayatra Microfinance Bittiya Sanstha...  [more...]
Initial Public Offerings of a string of public limited companies are in the pipeline with combined total of the offers amounting to as high as Rs 16 arba, 25 crore and 4 lakhs. A...  [more...]
The flood of applications Janautthan Samudayic lagubitta Bikas Bank Limited (JSLBBL) Initial Public Offering (IPO) received took even the company’s officials by surprise. ...  [more...]
Nepal Rastra Bank (NRB) is all set to inquire foreign exchange accounts of individuals/institutions to ascertain whether there has been smooth flow of foreign exchange in the acc...  [more...]
Nepal Rastra Bank (NRB) has formally begun a process to investigate Nepali account holders in Swiss banks. According to a senior official at the Foreign Exchange Department of...  [more...]
Janautthan Samudayic lagubitta Bikas Bank Limited has started floating its Initial Public Offering (IPO) from March 1. Today is third day of IPO. The IPO is oversubscribed by app...  [more...]
Barun Hydropower Company Limited has started floating its Initial Public Offering (IPO) from March 1 . Today is the third day of IPO. The IPO is oversubscribed by 18 times on the...  [more...]
Tahahun: Nepal Rastra Bank (NRB) Governor Yubaraj Khatiwada has said there is a growing trend of banks and financial institutions (BFIs) investing in the energy sector. &ldquo...  [more...]
Nepal Rastra Bank (NRB) on Sunday asked industries and firms that have got approval for or received foreign investment/loans to submit the latest status of the funding to the cen...  [more...]
The Second International Conference on Economics and Finance kicked off here from Thursday. Organised by Nepal Rastra Bank (NRB), the central bank, the three-day event has bro...  [more...]
The Ministry of Cooperatives and Poverty Alleviation (MoCPA) has taken initiatives to modify the Cooperatives Act to pave the way for formation of a committee that will be given ...  [more...]
National pride projects (NPPs) have failed to give good results in the first half of the current fiscal year. The projects that have been accorded high importance for development...  [more...]
The formal process of appointing the new central bank governor will start soon, as the government is all set to form a committee which will shortlist names of candidates who coul...  [more...]
The Nepal Stock Exchange (Nepse) index retreated by 1.86 points or 0.19 per cent to settle at 982.65 points, from February 15 to 18. Starting the week at 984.51 points on Sunday,...  [more...]
Laxmi Value Fund-1, a mutual fund scheme worth Rs 40 crore launched by Laxmi Capital, has been oversubscribed 3.5 times, according to latest available updates. Under the schem...  [more...]
Despite fears that liquidity surplus, tumbling interest rates and recent regulatory headwinds will hurt (spoilsport) profit of banking industry, commercial banks have registered ...  [more...]
Most of the commercial banks may not be able to sustain the profit earned in the first half of the current fiscal year, as a big portion of the income was generated through windf...  [more...]
The Nepal Stock Exchange (Nepse) has classed 114 listed companies as A category for the fiscal year 2014-15. An overwhelming majority of these top ranking companies belong to the...  [more...]
Lending of banks and financial institutions (BFIs) went up by 57.46 per cent in the first half of the current fiscal year, with more than a fourth of the total credit going towar...  [more...]
Nepal Rastra Bank (NRB) has prohibited banks and financial institutions (BFIs) from giving more than two terms to their chairman, board directors and chief executive officers (CE...  [more...]
Nepal Rastra Bank (NRB) has conceded that the targeted 6 percent economic growth for this year cannot be achieved even though the government is yet to come out with its revised e...  [more...]
Nepali Congress (NC) General Secretary Prakash Man Singh has said his party has been effortful to promulgate an all inclusive democratic constitution by discharging the coordinat...  [more...]
Nepal Rastra Bank ( NRB ) has suggested the government to consider reimbursing the commission that migrant workers pay to banks and remittance companies for remittance transactio...  [more...]
Industrialist Binod Chaudhary has made it into the Forbes´ billionaire list for second consecutive year and thrice till date. Chaudhary is the president of Chaudhary Gro...  [more...]
Laxmi Bank has launched its first Mutual Fund Scheme called Laxmi Value Fund-1 as the fund sponsor. Laxmi Capital Market Ltd, a wholly owned subsidiary of the bank is the fund ma...  [more...]
Upper Tamakoshi Hydropower Limited will float its Initial Public Offering (IPO) to the project-affected local residents and its lending institutions and their staff from Falgun 1...  [more...]
Sakchyam — a DFID funded access to finance programme — today joined hands with two commercial banks, namely Global IME Bank and Bank of Kathmandu, to extend financial...  [more...]
Nepal Rastra Bank (NRB) has loosened its restrictions on the amount of remitted money banks and financial institutions (BFIs) can directly pay to clients.  NRB has allowe...  [more...]
DOLAKHA:  A joint mechanism of political parties and locals has finalised the method of share allotment of the Upper Tamakoshi Hydropower Project, under which each Dolakha l...  [more...]
NIBL Samriddhi Fund-I has been listed at Nepal Stock Exchange (Nepse) today, through a signing ceremony between the CEO of NIBL Capital Markets Shivanth Pande and General Manager...  [more...]
The banking system seems to have recovered from a situation of excess liquidity lasting two years with extra cash coming down to Rs 2 billion. According to Nepal Rastra Bank (...  [more...]
The Securities Board of Nepal (Sebon) has planned to allow infrastructure companies to conduct a pre-initial public offering so that they can raise funds for their projects befor...  [more...]
Asian Development Bank (ADB) President Takehiko Nakao has stressed increasing investment in the infrastructure sector. In a meeting with Finance Minister Ram Sharan Mahat on M...  [more...]
The Securities Board of Nepal (SEBON), the securities market regulator, has started revising the Securities Registration and Issue Regulation to allow companies to issue shares t...  [more...]
State-owned enterprises have defaulted on loans worth Rs 60.69 billion out of the total amount of credit of Rs 140.21 billion issued to them by the government. Out of the outs...  [more...]
Turnover at Nepal Stock Exchange (Nepse) jumped 91.70 percent to Rs 3.58 billion last week. The number of shares traded too rose almost threefold to 11,178,300 units. Stockbro...  [more...]
Banks will now charge customers for the clearance of cheque s worth more than Rs 500. In a notice on Friday, Nepal Bankers’ Association (NBA) announced the banks would char...  [more...]
In what will be the first acquisition of a commercial bank in the country, Prabhu Bank Ltd on Thursday decided to acquire the ailing Grand Bank Ltd. Prabhu Bank´s Chairm...  [more...]
Nepal Rastra Bank (NRB) on Monday declared Dharan-based Arun Finance as being crisis-ridden after its financial condition deteriorated despite its instruction to take corrective ...  [more...]
IFC, a member of the World Bank Group, has agreed to provide a $5 million trade finance facility to NMB Bank Ltd under its Global Trade Finance Program. IFC´s Nepal Resi...  [more...]
The fourth annual general meeting (AGM) of Civil Bank Ltd has approved 8.5 percent dividend to its shareholders as proposed by the bank´s board of directors (BoD). The AGM ...  [more...]
Nepal Stock Exchange (Nepse) index posted gain for a third straight week as the benchmark index gained 13.88 points to close at 959.24 points on Thursday -- the last trading day ...  [more...]
Nepal Investment Summit 2015 is being held on Tuesday at Pullman Bangsar, Kuala Lumpur, Malaysia to attract investment in Nepal. It will focus on sectors, including hydropower, a...  [more...]
Lending growth rate of commercial banks surpassed deposit growth rate in the first five months of the current fiscal year, as remittance income grew at a very slow pace, while cr...  [more...]
Nepal Stock Exchange (Nepse) last week surged 11.2 points to close at 939.53 points amid increased investment from institutional investors. The market, which opened at 928.33 ...  [more...]
RUPAK D SHARMA Nepal Rastra Bank (NRB) will soon seek clarification from Grand Bank on why the banking sector regulator should not declare the class ‘A’ financial in...  [more...]
Even 22 years after its establishment, Nepal Stock Exchange (Nepse) is still largely involved in paper-based trading of securities. Though Nepse has been planning to completel...  [more...]
Nepal Rastra Bank (NRB) has proposed to boost the minimum lending requirement to agriculture and hydropower to 12 percent from the present 9 percent, but it also plans to soften ...  [more...]
Nepal Bankers’ Association (NBA), the umbrella body of commercial banks, has expressed reservations on some of the provisions included in the Financial Literacy and Consume...  [more...]
SAGAR GHIMIRE With banks and financial institutions (BFIs) dominating the stock market, investors are finding it difficult to diversify their portfolio and get rid of the risk e...  [more...]
The allocation for NIBL Samriddhi Fund - I has been completed in the premises of NIBL Capital Markets Ltd. on 9/23/2071 (7/January/2015). The refund for non-allottees will be dis...  [more...]
Gold price went up by Rs 600 per tola (11.664 grams) to Rs 52,400 on Tuesday. On Monday, gold was traded at Rs 51,800. Officials of Federation of Nepal Gold and Silver Dealers...  [more...]
Rastriya Banijya Bank (RBB) plans to issue 30 percent shares to the general public within this fiscal year. The initial public offering (IPO) will be worth more than Rs 3 billion...  [more...]
The Securities Board of Nepal (Sebon) has given the go-ahead to Upper Tamakoshi Hydropower to issue shares in the company to its financiers and locals in the project area. Chi...  [more...]
Even five and a half months after the government announced agricultural loans for youths at a concessionary interest rate of six percent and two months after Nepal Rastra Bank (N...  [more...]
Commercial banks having excess liquidity in the beginning of this fiscal 2014-15 may face a tight liquidity situation due to slow deposit growth against loan mobilisation in the ...  [more...]
The Ministry of Finance (MoF) today floated the draft of five-year Financial Sector Development Strategy, which, among others, aims to make the financial sector more efficient, e...  [more...]
Taking into account the growing trade volume between Nepal and China, Nepal Rastra Bank (NRB) has decided to allow Nepali banks and financial institutions (BFIs) to open accounts...  [more...]
Nepal Rastra Bank (NRB) has barred banks and financial institutions (BFIs) from charging service fees for opening or closing accounts, providing any branch banking service and is...  [more...]
Bhotekoshi Power Company has agreed to allot 6 percent shares to locals, ending a standoff that had prevented repair work at flood-damaged Bhotekoshi Hydropower Project from bein...  [more...]
Pokhara-based regional-level Bishwa Bikash Bank Ltd (BBBank) is looking to become a national-level development bank soon.For that to happen, BBBank needs to have at least Rs 640 ...  [more...]
Nabil Balanced Fund-1 (NBF1), a closed-end 5 years mutual fund scheme managed by Nabil Investment Banking Limited, has reported a growth of its net asset value (NAV) as it rose t...  [more...]
The police arrested six employees of Jyoti Bikas Bank on fraud charges after they were found to have duped people misusing their share money of the Chilime Hydropower Project. Th...  [more...]
The BOD meeting of Century Commercial Bank Limited (CCBL) has proposed 6 percent bonus share and 3.47 percent cash dividend to its shareholders from the net profit it earned in t...  [more...]
Ace Development Bank has decided to provide 7 percent bonus shares and 0.37 percent cash divided to its shareholders. The 17th annual general meeting of the bank held on Monda...  [more...]
After 13 years of control, Nepal Rastra Bank (NRB) has finally exited from Nepal Bank Ltd (NBL). Holding a special annual general meeting (AGM) on Sunday, the NRB handed over ...  [more...]
Rastriya Banijya Bank Ltd (RBBL) is lobbying with the government for initial public offering. The newly appointed board of directors (BoD) of the state-owned bank has submitte...  [more...]
Rastriya Baniya Bank Limited (RBBL) is selling 57,96,75 units Nepal Investment Bank Limited (NIBL) group ‘B’ promoter shares and 1,78,927 units Nepal Aawas Finance Li...  [more...]
Banks and financial institutions (BFIs) collect almost 68 per cent of deposits from Kathmandu Valley and extend around 56 per cent of loans to borrowers based in the Capital, ind...  [more...]
The BOD meeting of Mega Bank Nepal Limited (MEGA) held today announced 12 percent bonus share and 0.63 percent cash dividend, for the tax purpose, from the net profit of the bank...  [more...]
Bankers, regulators and government officials have said limiting cash transactions and giving preference to other negotiable instruments over cash transactions will help control f...  [more...]
Following a series of merger deals with three different financial institutions earlier, NMB Bank, a class ‘A’ financial institution, has again extended hand to merge ...  [more...]
With the banking system flush with excess liquidity, banks and financial institutions (BFIs) have increased lending to stock investors and hire purchase purposes. Banks’...  [more...]
Standard Chartered Bank Nepal Limited (SCBNL) has decided to pay 41.5 percent cash dividend and 10 percent bonus shares to its shareholders. The 28th AGM of the bank held on Thur...  [more...]
Nepal Rastra Bank (NRB) has declared Nepal Finance Ltd (NFS) a ´troubled´ institution after it found serious shortcomings in the ´C´ class finance company...  [more...]
The return on 91-day treasury bill (T-bill) has remained stagnant at almost zero per cent for the last one week, sending jitters among bankers as it is expected to hit profits of...  [more...]
NMB Bank has signed a merger agreement with Clean Energy Development Bank barely two months after concluding similar pacts with Pathibhara Development Bank and Bhrikuti Developme...  [more...]
Liquidity-mopping instrument called ‘term deposit’ launched today by Nepal Rastra Bank (NRB) was oversubscribed by almost six times, indicating banks and financial in...  [more...]
A total of 14 individuals have applied for the post of chief executive of Agriculture Development Bank Limited ( ADBL ). A majority of applicants are incumbent staffers of the...  [more...]
After a two-year manhunt, the law enforcement agency has managed to nab Anish Bhakta Suwal Dangol, a former ATM in-charge of Himalayan Bank Ltd, for his alleged involvement in de...  [more...]
BIRATNAGAR: Cooperatives in Morang district recorded total transactions worth Rs 13 billion in the first quarter of 2014/15. According to the data of Division Cooperatives Off...  [more...]
Nepal Rastra Bank (NRB) is preparing to sign an agreement with the Chinese central bank by the third week of December to facilitate the use of Chinese currency, renminbi or RM...  [more...]
Global IME Bank has bagged the prestigious “Bank of the Year 2014” award from The Banker, a Financial Times publication. It is one of the 149 banks from around the wo...  [more...]
In a bid to provide single-window service for investors the meeting of the Industrial Promotion Board today decided that companies established with foreign investment can purchas...  [more...]
Non-performing loans (NPL) of commercial banks rose by 0.92 percentage points in the first quarter this fiscal year, thanks to high NPL level in two private sector banks—Gr...  [more...]
Non-performing loans (NPL) of commercial banks rose by 0.92 percentage points in the first quarter this fiscal year, thanks to high NPL level in two private sector banks—Gr...  [more...]
Nepal Investment Bank Limited (NIBL) has received the go-ahead from the Securities Board of Nepal (Sebon) to launch its first mutual fund scheme named NIBL Samriddhi Fund-1. The ...  [more...]
Twenty-seven out of 30 commercial banks earned profits in the first quarter of the fiscal year. The loss-makers include Grand Bank, Prabhu Bank and Civil Bank. The banks eared...  [more...]
The profit of commercial banks increased by 17.57 per cent to Rs 4.98 billion during the first quarter of the current fiscal 2014-15, compared to the corresponding period of the ...  [more...]
Nepal Rastra Bank (NRB) has called back its team from H&B Development Bank, handing over the reins of the class ´B´ bank to a new team of promoters. NRB Spokes...  [more...]
The World Bank (WB) has clarified that former director of Nepal Rastra Bank (NRB) Rajan Singh Bhandari, who was allegedly involved in irregularities in the Second Financial Secto...  [more...]
Citizens Bank International has been focusing on acquisition to increase its capital base in contrast to the current trend among banks and financial institutions (BFIs) to go for...  [more...]
Gold and silver prices continued to tumble this week as their price went down by Rs 700 and Rs 10 per tola over the week. The market opened on Sunday with gold price fixed at ...  [more...]
A total of 914,971 units of physical shares of 35 companies including commercial banks have been brought into 'Demat system' so far since the launching of this system in ...  [more...]
A total of 914,971 units of physical shares of 35 companies including commercial banks have been brought into 'Demat system' so far since the launching of this system in ...  [