Citizens turns six

HIMALAYAN NEWS SERVICE

KATHMANDU: Citizens Bank International on Thursday completed five years of operations. The bank that operates through a network of 33 branches across the country has collected deposits worth Rs 15.28 billion by the first nine months of the current fiscal year. It has been able to register an operating profit of Rs 221.5 million. The bank organised various programmes to observe its anniversary on Thursday.

Mahindra’s showroom

KATHMANDU: SG Global — the authorised dealer of Mahindra2Wheelers in the country — on Thursday opened a new showroom in Jorpati named Nawa Kantipur Automobile and Parts Centre. The new showroom was inaugurated by vice chairman of SG Global Raju Bhetwal Chettri amid a function. The showroom has a service centre and also stocks spare parts of Mahindra2Wheelers.

Unique posts profit

KATHMANDU: Unique Finance has been able to post an operating profit of Rs 19.9 million by the end of the third quarter (mid-April). Unique Finance with a paid-up capital of Rs 200 million has collected deposits worth Rs 380 million and lent Rs 430 million till end of third quarter.

EFL adds branch

KATHMANDU: Bhairahawa based Everest Finance (EFL) has opened its third branch in Rajhar, Nawalparasi district. It is the first private financial institution to open a branch in Rajhar. The new branch was inaugurated by chairman of EFL Dr Govinda Ballav Bhatta and executive committee member of Nepal Finance Companies Association Babu Kaji Shakya. The company was able to collect deposits worth more that Rs 5 million on the inaugural day from more than 200 people who opened accounts at the financial institution. It has till date collected deposits worth Rs 350 million and has a lending of Rs 300 million. The company with an issued capital of Rs 200 million has Rs 108 million as paid-up capital and has more than 7,000 customers.

S Sudan joins IMF

WASHINGTON: The Republic of South Sudan joined the International Monetary Fund (IMF) on Thursday when its Finance and Economic Planning Minister Kosti Manibe Ngai signed the IMF’s Articles of Agreement at a ceremony in Washington DC. South Sudan applied for membership of the IMF in April 2011. The Republic of South Sudan became an independent country in July 2011, and the IMF Board of Governors subsequently offered it IMF membership. Since then, the fund has been stepping up the provision of technical assistance and training and engaging in a policy dialogue with

the authorities.