Kathmandu, August 19:

Siddhartha Bank Ltd (SBL) has opened its seventh branch in Damak, Jhapa. The bank has already extended its presence at Kamaladi, New Road and Tripureswar of Kathmandu, Birgunj, Biratnagar, and Pokhara outside the Valley.

“The bank posted an operating profit of Rs 176.2 million and mobilised deposit worth Rs 6.63

billion in the fiscal year 2006-07,” states a press release. The bank floated loans and advances of Rs 6.32 billion during the year.