Himalayan News Service

Kathmandu, January 5:

Premiere Finance Company Ltd (PFCL) held its eighth annual general meeting here yesterday.

Bharat Narshing Joshi, president of PFCL, presenting the annual report of the fiscal year 2003-04, informed the meeting that the company has increased its deposit collection by 56.25 per cent, which has touched Rs 277.1 million. Similarly the company invested Rs 189.2 million during the fiscal year 2003-04, he said. Despite the crisis faced by financial sector, PFCL has, however, been efficient in raising the deposit and floating loans, Joshi added.

In the effort of increasing its service, the bank has introduced premiere saving scheme which has been popular, Joshi added. The bank collected around Rs 50 million under this scheme, he informed. Speaking on the occasion Joshi said that the company would not distribute any dividend this year and increase the capital deposit. Premiere Finance Company Ltd is the second finance company established in the Lalitpur district.