Kathmandu, June 6:

Development Credit Bank Ltd (DCBL) has opened its second and the first all-women operated branch at Meera Homes in New Road.

Krishna Lal Maharjan, chairman of DCBL inaugurated the branch at a function today. The branch will provide all banking products including conventional services such as deposit, lending and remittance transfer as well as foreign exchange and transactions and issuance of travellers’ cheques.

The speciality of the branch is that it is the first branch of any private bank to be operated by an all-women staff, said Sudhir Khatri, president of DCBL. In order to mark the inauguration of an all-women run branch, the bank has also unveiled a new product, ‘Naari Savings’ targeting women depositors, he added.

Under the scheme, one can open an account at Rs 1,000, in which the bank is offering 5.25 per cent interest per annum as well as free ATM debit card and the commission on issuance of travellers’ cheque will be exempted, said Khatri.

He also disclosed that the bank plans to distribute 12-15 per cent bonus shares for the current fiscal year ending July 16.

According to him, the bank earned an operating profit of Rs 84.9 million as of the first 10 months of the current fiscal year, while its total deposits touched Rs 2.54 billion.