Business Briefs

Sunrise’s new branch

KATHMANDU: Sunrise Bank Ltd opened its 27th branch office in Boudha on Tuesday. It also started transaction that very day. The bank collected deposit and flow credit of Rs 13.5 billion and Rs12.4 billion, respectively. It has invested Rs 2.1 billion and earned an operating profit of Rs150.2 million by the end of Poush month of this fiscal year. The bank has 30 ATMs in use.

Bonus shares

KATHMANDU: Royal Merchant Finance Ltd has distributed 1,35,431 units of bonus shares, 10 per cent of its total paid-up capital. Now, it is eligible to do business at Nepal Stock Exchange after listing as per the decision made on February 22. The company’s paid-up capital will reach Rs140 million after issuing its shares. It is planning to issue 1:1 rights share in the near future to increase paid-up capital to Rs 290.57 million. The company collected total resource worth Rs1.40 billion and flow resource Rs1.40 billion. It earned net profit Rs 10.56 million. It also brought the scheme of ‘Aajai bachat, aajai byaj’ this month.

IDBL bonus shares

KATHMANDU Infrastructure Development Bank Ltd will issue 10 per cent bonus shares and five per cent dividend to its share holders. MD of bank Dr Indraraj Humagain said they have taken permission from Nepal Rastra Bank. The bank will issue bonus share worth Rs32 million and dividend Rs1 million. After issuing the bonus shares, it paid-up capital will go up to Rs 350.20 million.

Protest lodged

KATHMANDU: Perfect Blade (Nepal ) Private Ltd brought the king-size Josh cigarette some time ago. It was popular among consumers from the first day. The company, in a statement, has protested against vandals who have lately been damaging the billboards displaying Josh cigarette. Their activities include threats to Josh dealers, defacing the billboards, throwing paint and garbage to blackout the advertisements. It said that its goal is to provide a quality cigarette at an affordable price. It suspects some of its competitors are behind the smear campaign and said it would take them to court.