Ace’s new branches

KATHMANDU: Ace Development Bank opened three branches — at Lalitpur’s Jawalakhel, Chitwan’s Parsa Bazaar and Morang’s Urlabari — on Thursday. Bank chairman Yogendra Shakya inaugurated the Jawalakhel branch. Ace now has a total of six branches in operation. After the successful rights issue that closed last week Ace’s paid-up capital has reached Rs 750.4 million, making it the highest capitalised national level development bank in Nepal. On the occasion, bank also unveiled a new deposit product ‘Ace Rhino Super’ which yields minimum nine per cent per annum interest. — HNS

SBL in Rupandehi

KATHMANDU: Siddharth Bank Ltd (SBL) has expanded its service to Butwal and Bhairahawa of Rupandehi district. The bank opened its Butwal branch on Wednesday and Bhairahawa branch on Thursday. “We earned a profit of Rs 350.28 million in the last 11 months of the current fiscal year on an investment of Rs 13.30 billion,” said the bank that has total deposit of Rs 15.22 billion. — HNS

NCC plea to minister

KATHAMDNU: A team of businessmen led by president of Nepal Chambers of commerce (NCC) Surendra Bir Malakar on Thursday met Minister for Industry Mahendra Ray Yadav and requested him to make a congenial environment for trade, commerce and industry. The team urged the minister to implement the newly-drafted industry policy and form an industrial security force. NCC also requested him to form investment board, stop strikes and promote public private partnership. — HNS