SDB turns four

KATHMANDU: Sanima Development Bank (SDB), a development bank promoted by NRNs, has successfully completed its three years of operations on December 7. “On this occasion, Sanima expresses its sincere thanks to all valued customers, stakeholders and well wishers,” states a press release. Sanima has been able to register impressive performance with total deposit mobilisation of Rs 2.27 billion and lending of Rs 1.89 billion respectively. — HNS

United’s AGM

KATHMANDU: United Finance Ltd held its 13th AGM on Friday. The AGM approved annual report of Basanta Kumar Chaudhary, chairman of the company for the fiscal year 2006-07. It also approved the proposal of 11.84 per cent cash dividend and 25 per cent bonus share. It has posted a net profit of Rs 21 million. “The company is going to increase its paid up capital to Rs 150 million by issuing 1:1 rights shares,” states a press release. — HNS

GDB turns four

KATHMANDU: Gurkha Development Bank (GDB) Ltd has completed its three years of operations and entered into the fourth year. The bank, promoted by the British Gurkha Group, has Rs 320 million paid up capital, states a press release. It offers various facilities including SMS banking and evening counter. Similarly, Laligurans Saving & Credit Co-operative Ltd (LSCCL), also promoted by British Gurkha Group, has completed two years of its operations from Friday, states a press release. — HNS

UTL in Chitwan

KATHMANDU: United Telecom Ltd (UTL) has expanded its services to Chitwan from Thursday. It is offering a UTL connection for Rs 5,500 and limited mobility services for Rs 2,525 as a call price,” states a press release. Now, the UTL services can be enjoyed in Birgunj, Hetauda, Pokhara, Butwal, Bhairahawa and Banepa. Similarly, it is soon starting its operations in Biratnagar and Dharan in the east also, claims the company. — HNS

NCC forms unit

KATHMANDU: Nepal Chambers of Commerce (NCC) is opening its handicrafts unit at its Sinamangal office to smoothen the process of exports of the handicraft products. “A delegation led by Pushkar Man Shakya, president of the Federation of Handicrafts Association, Nepal and Surendra Bir Malakar, NCC president, agreed on the issue of opening of the handicrafts unit at the Sinamangal office of NCC,” states a press release. — HNS