National Biz Briefs

Branch reopens

KATHMANDU: Nepal Bank Ltd’s management committee coordinator Dr Pusparaj Karnikar reopened the Manigram branch of the bank on Thursday in the presence of the Finance Ministry’s senior adviser Keshav Acharya and revenue secretary Krishnahari Baskota. NBL branches, closed during the conflict, have been reopened lately. Acharya said NBL is not only the first bank in Nepal but also a bank having branch offices all over Nepal. Baskota said he hoped NBL would provide modern banking and finance service. Dr Karnikar said NBL has modernised its branches before reopening them. He added it has sought Nepal rastra bank’s nod for issuing new shares to increase its capital. NBL launched its Kaskauli branch, ATM counter and credit card facility in Butwal and Siddharthanagar the same day.


KATHMANDU: The second annual general meeting (AGM) of Vibhor Development Bank Ltd (VDBL) elected new directors of the board — Binod Prasad Adhikari and Yogeshwor Krishna Parajuli — from among shareholders on Friday. It was the first AGM after Vibhor’s initial public offering (IPO). The bank posted Rs 48.33 million profit in the fiscal

year 2008-09 and collected Rs 2.4 billion deposit during the period. It

has established sister company

Vibhor Capital Ltd for merchant banking and investment management services.

IATA in Nepal

KATHMANDU: Zenith training institute (ZNI) has been appointed Nepal’s first and only IATA authorised training centre. Under this affiliation, the centre is offering full-fledged IATA/UFTAA foundation diploma program certified from Montreal, Canada and recognised worldwide. IATA foundation diploma is a 6-month course and its examinations are held twice a year — in March and September. Annually, over 35,000 professionals appear in this examination worldwide. Successful candidates receive IATA qualification and are entitled to add the initials ‘DTTF’ after their names. The entry of

IATA diploma into Nepal has filled the vacuum of unavailability of a globally recognized airlines

oriented degree.

GBL’s branch

KATHMANDU: Global Bank Ltd formally inaugurated its New Baneshwor branch office on Wednesday. It has 28 branches and among them 13 are inside the valley. GBL has paid-up capital Rs1 billion and deposit Rs13.12 million. It posted Rs 190.42 million profit and invested Rs12.280 billion. It provides 365-days banking, evening counter, locker facility, free banking, free internet banking, Visa debit card abnd bill paid through Nepal Telecom postpaid mobile.