PRDB registers Rs 1m profit

Biratnagar, February 19:

Purbanchal Rural Development Bank (PRDB) has registered a profit of Rs 1 million in the first six months of the current fiscal year, Deepak Sharma, acting executive director of the bank, while addressing a programme organised in Biratnagar on Wednesday, said.

The bank was established in 1994 and has registered a profit of Rs 5.43 million till mid July last year. Deependra Bahadur Chettri, chairman of the bank management committee, said that it has a total investment of Rs 534 million and collected Rs 480 million till mid January. The bank has 301 employees and 36 branch offices in different districts of eastern development region. It has proved to be effective mostly in the rural areas of Morang, Sunsari, Jhapa and Saptari district and has 53,267 customers.

Six branch offices of the bank have been affected due to the Maoist conflict and are facing difficulties in conducting regular business. The management committee has started a Risk Trust worth Rs 0.5 million keeping in view the present security situation, Sharma said.