Bank of Asia turns two

KATHMANDU: Bank of Asia Nepal Ltd (BoAN) completed its first year of operation on October 11 and entered into the second year. During its one-year of operation, the bank has expanded

10 branch offices at different places, states a press statement. — HNS

MFIL enters 2nd year

KATHMANDU: Manjushree Financial Institution Ltd (MFIL) has completed its first year of operation. According to a press release, during the fiscal year 2007-08, it has made a collection of Rs 244.6 million deposits and floated a total of Rs 255.1 million loan. It has also earned an operating profit of Rs 372.3 million. MFIL was established last October 15. — HNS

Co-op in problem

KATARI: A cooperative savings and credit institution is on the verge of closure after its former office-bearers — former chairman Hem Basnet, treasurer Keshav Kumar Rai and members Baldev Chaudhary, Ishwarmani Rawat, Min Bahadur Thakuri and Rajan Timilsina — did not pay back loans they had taken, though they have been repeatedly asked by the cooperative to pay back their loans that was to the tune of Rs 1.5 million. — RSS