KATHMANDU: Development Credit Bank Ltd (DCBL) concluded its eighth AGM on Sunday. The AGM has approved 2:1 rights share also. The bank registered a 22 per cent increase in net profit while its paid up capital reached Rs 1.1 billion, said a press release. It plans to increase its paid up capital to Rs 1.66 billion within this fiscal year and Rs 2 billion by 2010. — HNS

UFL branch

KATHMANDU: United Finance Ltd (UFL) on Sunday started operations at its branch office in t Biratnagar. According to a press statement, the company has a total of 25,000 customers within Kathmandu valley and plans to extend its services outside the valley with three more branch offices this fiscal year. — HNS