Kathmandu, April 20:

Citizens Bank International Ltd kicked off its commercial operations in Kathmandu today at an elaborate programme.

While the programme was inaugurated by the finance minister Dr Ram Sharan Mahat with Dr Shankar Prasad Sharma as the chairman, Nepal Rastriya Bank governor Vijaya Nath Bhattarai was also present on the occasion.

Congratulating the promoters and staff following the inauguration, the minister urged banks to go to rural areas as well and develop the institution of banking there.

The chief executive officer of the bank, Rajan Singh Bhandari expressed his commitment to total transparency and promised 100 per cent compliance with all the rules and regulations of the country.

Dr Sharma, former vice-chairman of the National Planning Commission of Nepal, delivered the vote of thanks.

Promoted by some leading industrialists and intellectuals of the country, Citizens Bank, with an authorised capital of two billion rupees happens to be the 20th commercial Bank in Nepal.

The bank has an immediate paid-up capital of Rs 560 million and claims to provide all the banking services right from the first day of its operation.