Kathmandu, June 7:

Nepal Investment Bank Ltd (NIBL) today commenced operations from its 16th branch at Chaksibari, Thamel, in Kathmandu.

Prithivi Bahadur Pandé, chairman and chief executive officer, NIBL, inaugurated the branch. It is the sixth branch of the bank within the Kathmandu valley.

The branch will provide banking services to Thamel residents, businessmen as well as tourists in the area.

Recognising the fact that Thamel has become a business hub and is a popular tourist destination, with the expansion of food outlets, hotels, recreation centres and souvenir shops, NIBL extended its presence in the right time, states a bank press release.