Himalayan Bank increases deposits

Kathmandu, January 12:

Total deposits of Himalayan Bank Ltd has reached Rs 26,491 million during the fiscal year 2005-06, recording an increase of 6.76 per cent over the deposits of Rs 24,864 million during the same period last year.

According to a press statement issued by the bank today, the bank’s loans and advances reached Rs 15,762 million during the review period, recording an increase of 17.8 per cent over the figures of Rs 13,451 million during the previous year.

The bank has continued to lead the private and joint venture banks in terms of deposits and loans and advances as in the past years, thus maintaining the top position in the period under review as well.

Bank’s chairman Manoj Bahadur Shrestha was quoted as saying in the press statement, that with the integration of Globus banking software in all branches of the bank, it has been possible for a branch to carry on banking transactions with any other branch.

The bank has been able to earn an operating profit of Rs 684.092 million during the review period vis-à-vis Rs 666.059 million during the previous year. The net profit of the bank reached Rs 457.457 million.

The bank has also declared a five per cent bonus share and 30 per cent cash dividend on the paid-up capital to shareholders.