Kumari Bank posts operating profits

Kathmandu, July 31:

Kumari Bank Ltd has registered a 71 per cent rise in its operating profit in the fiscal year 2004-05, thanks to its innovative products and better customer service. According to a press statement issued here today by the bank, it has achieved a significant growth and earned an operating profit of Rs 18.1 million. The bank posted a growth of 31 per cent in deposit and 50 per cent in lending. It has been able to mobilize deposits of over Rs 6 billion and a lending of Rs 5.56 billion during the same period. The bank has recently launched ATM service to its customers at no cost, further states the release. The bank has its head office at Putalisadak and four branches at Biratnagar, Birgunj, Pokhara and New Road.