Kathmandu, August 4:

Sanima Bikash Bittiya Sanstha Ltd, a development bank promoted by non-resident Nepalis, has earned a net profit of Rs 172,000 in the first year of its operation. Established in 2004, the bank collected deposits of Rs 238.3 million during seven months of its operations in fiscal year of 2004-05, according to a press release issued here today. The bank so far has invested

Rs 250.5 million, especially in medium-sized hydropower projects. The bank is planning to introduce evening counter, ATM and locker system shortly.