Kathmandu, January 11:
After two months of management takeover in financially-troubled Nepal Ban-gladesh Bank by the Nepal Rastra Bank (NRB), it has been found to be successful, according to NRB.
â€œThe NRB-led management has been able to recover Rs 700.3 million during the last two months, which ended today. The non-performing asset level has been reduced to 34 per cent from an earlier 41 per cent,â€ said Maha Prasad Adhikari, coordinator of the management team.
The central bank, on November 12, intervened in the NB Bank and took over the management to avoid a possible financial catastrophe, and deputed a four-member management tea-m to run it. Following exposure of the bankâ€™s difficult financial position, NB Bank saw a â€˜bank-runâ€™, resulting in a massive withdrawal. In the last two months, Rs 463.3 million was recovered from loan investment and Rs 237 million from NB Group.