SBI appoints NMB

KATHMANDU: Nepal SBI Bank has appointed NMB Capital as issue manager for rights shares it is planning to issue.

An agreement to this effect was signed by Chief Operating Officer and Deputy CEO of Nepal SBI Bank Subhakanta Kanungo and CEO of NMB Capital Shreejesh Ghimire in the presence of Anukool Bhatnagar, managing director (CEO) of Nepal SBI Bank, on Wednesday.

Nepal SBI Bank will be issuing more than 19 million rights shares at a ratio of 10:4. The rights shares are being issued to meet central bank’s directive for commercial banks to raise their paid-up capital to Rs eight billion by the end of this fiscal. The decision to issue the rights shares was endorsed during the bank’s 22nd AGM.