National Biz Briefs

NIBL enters 25th year

KATHMANDU: Nepal Investment Bank Ltd (NIBL) entered into 25th years of operations. On the occasion the bank has opened its 38th branch in Maharajgunj, Kathmandu on Thursday. The new branch will be linked through ABBS to all other 37 branches around the country. The key services provided by the branch include deposit and credit facility, foreign exchange, retail banking, import, export, letters of credit, guarantees and remittances, among others. The bank, on the occasion, has also introduced two new products — Savings Plus Plus and Fixed deposit — whereby the bank gives interest up to six per cent on savings account and up to 10 per cent interest on Fixed deposit. The bank — with its widest networking chain — has extended its ATM in Gaighat and Krishnanagar recently. It has now a total of 68 ATMs and 38 branches around the country. Nepal Investment Bank — previously Nepal Indosuez Bank Ltd — was established in 1986 as a joint venture bank between Nepali and French partners. The first private sector bank in Nepal has now the highest capital base and the highest growth rate.

BOAN brings scheme

KATHMANDU: Bank of Asia Nepal (BOAN) has brought a new scheme BOAN Dhan Barsa. Under the scheme, a costumer can open an account in minimum Rs 1,00,000 for one to three years that attracts 12 per cent interest monthly.

BoK gets new CEO

KATHMANDU: Ajay Shrestha has been appointed CEO of the Bank of Kathmandu (BoK). Earlier, Shrestha was GM at the NMB Bank. He had also worked with the BoK before joining the NMB Bank. Shrestha has been associated with banking industry for more than two decades. BoK — since its establishment has been providing services to all its costumers — now has 33 branches, six extension counters and 37 ATMs. The bank has not just limited its scope of interest to large scale industries but also focused and diversified its services to the small and medium enterprises.

RFL’s new scheme

KATHMANDU: Reliance Finance Ltd (RFL) depositors need not queue up in any collection centre for the IPO. The organisation has authorised capital of Rs 300 million and has collected Rs 1.90 deposit till the end of Poush. It has succeeded to register a net profit of Rs 20, 507. It has been offering upto 10 per cent interest to its depositors.