LBL doubles capital

KATHMANDU: Lumbini Bank Ltd (LBL) has doubled its paid up capital to Rs 995 million from Rs 500 million in the fiscal year 2006-07. The bank has also been successful in pushing its net worth up to Rs 299 million from a negative Rs 722 million. An LBL press release said the bank plans to becomes one of the strongest banks in its capital adequacy

requirement. — HNS

Women’s cooperative

GHANDRUK: Women in Nepal’s model tourism village in Ghandruk of Kaski are involved in saving and loan mobilisation. Some 136 women from seven wards of the VDC have each been saving Rs 100 per month for the last two years by forming Meshrum Barah Loan and Saving Cooperatives. The cooperative invests money on locals for cattle and goat farming, household expenditure and those seeking jobs abroad. “We give a maximum of Rs 20,000 loan and it must be paid back in six months,” said group president Harimaya Gurung. The group mobilized Rs 700,000 last year and Rs 1,400,000 this year. — RSS

Citizens’ initiative

KATHMANDU: Citizens International Bank Ltd (CIBL) and Reporter’s Club Nepal have jointly opened Natural Disaster Relief Fund to help flood victims. A press statement said, CIBL deposited Rs 50,000 and employees donated a day’s salary for flood victims. CIBL has urged all good samaritans to donate in the account number 0010000404ZB of the bank. The total amount collected will be transferred to the PM’s Relief Fund. — HNS