NBL’s profit up
KATHMANDU: Nepal Bank Ltd (NBL) registered a net profit of Rs 876.5 million, an increase of 158 per cent compared to the same period last year, which was Rs 338.5 million. According to a press release, the bank has an operating profit of Rs 1.26 billion, an increase of 350 per cent compared to the same period last year, which was Rs 222.5 million. The bank under CEO Dr Binod Atreya has lowered its NPA to 10.12 per cent.
SFL’s new office
KATHMANDU: Standard Finance Ltd (SFL) on Thursday inaugurated its corporate building at Kamal Pokhari. The company has a branch office each at Banepa, Patan, and Birgunj and plans to establish branches at Nayasadak, Narayangarh, Butwal and rural areas. It is also planning to upgrade to an A-class commercial bank after giving 1:5 rights shares.
Seized herbs to return
NEPALGUNJ: Around 52 sacks of herbs seized from Nepali entrepreneurs by the Indian police two weeks ago are to be returned. The Indian embassy has directed the police to return the herbs, said herbal union’s chairman Mohambad Yakub Ansari. After the release of the seized herbs, the entrepreneurs agreed for herbal trade in India. Various herbs like Chiraito, Bisjara and Padamchal were being sent to Mumbai when they were seized citing fake documents. The products were sent by Natural Herbal Suppliers, Nepalgunj. — RSS
KALIKOT: Valuable wild herbs in Karnali zone are on the verge of extinction due to over-harvesting and lack of proper conservation. Karnali region is rich in medicinal herbs and herbs collection has become an important means of livelihood for the people of this region. Since some years, herbs are being over-harvested. Herb traders said their income has dropped drastically over the years due to shortage of herbs. People have started moving to higher altitudes and difficult terrain. — RSS