ICFC’s fifth branch

KATHMANDU: ICFC Bittiya Sanstha inaugurated its fifth branch in Bhairahawa that offers full banking services including e-banking, ABBS, ATM and other facilities. ICFC in its sixth year of operation has a deposit of more than Rs 1.50 billion and lending of more than Rs 1.40 billion. It has also managed to earn Rs 70 million profit. ICFC plans to expand to other parts of the country. It recently launched a high yield of eighty per cent per annum on daily balance savings deposit scheme for its customers. — HNS

SMBFL’s rights shares

KATHMANDU: Sagarmatha Merchant Banking Finance Ltd during its third AGM decided to give 1:1.5 rights shares. Securities Board of Nepal (Sebon) has already permitted rights share issue worth Rs 70.50 million, that is 7,50,000 units. Citizen Investment Trust (CIT) is the sales and issue manager of the issue that will be floated within August 16. — HNS

New cooperative

KATHMANDU: Minister of state for energy Chandra Singh Bhattarai inaugurated the CCI Credit and Loan Cooperative Limited at Tilganga. During the first general meeting of the cooperative, a seven-member executive committee led by Krishna Bahadur Thapa, a three-member auditors committee, loan sub-committee led by Pom Raj Bhandari and education sub-committe led by Krishna Hari Guragain were formed. — HNS

More tourists

KIRTIPUR: An increasing number of tourists are visiting Chobhar area after a concrete bridge was built linking Chobhar to Sainbu of Lalitpur district. Earlier, a bailey bridge connected the two areas, hampering the movement of vehicles. With the installation of a solid bridge even heavy vehicles can go to and come from Chobhar, thus increasing the number of tourists visiting the historic area. At the base of the gorge flows the Bagmati River. Many domestic and foreign tourists come to see Chobhar gorge, which is said to have been cut off by Manjushree, a Chinese saint, to drain off water from Kathmandu Valley and make it habitable. — RSS