LIC branches linked

KATHMANDU: Life Insurance Corporation (Nepal) Ltd’s 14 branches are now interlinked by wide area network (WAN). Chairman of LIC-Nepal, TS Vijayan, inaugurated the network and website amid a function in Kathmandu on Wednesday. The insurance company has announced Rs 70 per thousand as dividend to its policy holders and 20 per cent bonus to investors.

MBL posts profit

KATHMANDU: Machhapuchchhre Bank Ltd (MBL) has posted net profit Rs 123.3 million in the fiscal year 2008-09. The information was released in the 11th annual general meeting (AGM) of the bank held in Pokhara on Wednesday. MBL has deposit Rs 15.70 billion and invested Rs 12.98 billion so far. The bank currently has 31 branches and 34 ATM counters throughout the country.