National Biz Briefs

Ace’s profit grows

KATHMANDU: Ace Development Bank registered a growth in net profit in the second quarter by 28 per cent compared with the corresponding period in the last fiscal year. The Credit to Deposit and Core Capital

ratio has been safely maintained at 69.72 per cent and the bank's

exposure to real estate sector is limited to only 9.47 per cent, said the bank. It has reduced Non-performing Asset (NPA) to 0.03 per cent from

0.19 per cent. Currently, Ace has seven branches in operation. It is shortly opening new branches in

Narayangarh, Chitwan and New Road, Kathmandu.

Kist in Dhading

KATHMANDU: Kist Bank has extended its service to Dhading as it opened 45th branch office on Thursday. Managing director Kamal Prasad Gnawali inaugurated the branch that is 28th branch out side the Kathmandu valley. It has 17 branches in the valley. Recently it is extending its branch office in Swyambhu, Ringraod. The bank aims to have 50 branches — the largest network of branches — within this fiscal year.

RBB profits Rs 1.15b

KATHMANDU: Rastriya Banijya Bank (RBB) posted Rs1.15 billion net profit in the second quarter of this fiscal year. The bank has earned Rs 70.92 million operative profit that is 32.66 per cent more than last year's same period. By the end of Pouse 2066, the bank deposit has touched Rs 63.9 billion, said that bank that has NPA reduced its Non-performing Asset (NPA) to 12.98 per cent from 18.77 per cent. The government bank had over 65 per cent NPA and has been handed over to foreign management to restructure it and reduce the NPA. The bank aims to bring it down to eight per cent by the end of the current fiscal year.

NIC in Biratnagar

KATHMANDU: NIC Bank chairman Jagdish Prasad Agrawal inaugurated NIC Bhawan in Biratnagar on Thursday. "It has been providing a full range of products and services including all modern day banking facilities like trade finance, remittance, business banking, ATM / Debit cards, drafts, SMS banking, travellers cheques," said the bank. The branch has been connected to all other branches through a V-SAT/optical fibre network, enabling real-time on-line connectivity. It also has its own ATM terminal. The bank will soon be opening its next branch in Mahendranagar, while several more branches are also planned. NIC Bank also plans to install 25 ATMs all over the country, out of which 12 are already operational. -

Global in Gaighat

KATHMANDU: Global bank has formally inaugurated its Gaighat branch on Thursday, though it has been in operation since July. The ATM was also formally inaugurated on Thursday. The bank has Rs 1 billion paid capital, Rs 13.19 billion net deposit and Rs 19.66 million net profits. It has already 27 branch offices and plans to open 28th branch office in Baneshwor soon.