Kathmandu, March 16:

After successful operation for seven years in Butwal, Siddhartha Development Bank Ltd (SDBL) has opened its first branch at Narayangarh, Chitwan.

Shekhar Aryal, chairman of SDBL flagged off the operation of the new branch office at a function on Thursday.

Dr Binod Atreya, chief of Nepal Rastra Bank (NRB), Bhairahawa office said that the new branch would cater to the banking needs of people from Narayangarh as well as neighbouring areas. He was of the opinion that the bank should encourage simple and easy banking services.

Stating that the increasing number of banks and financial institutions is a positive sign, Atreya said that banks and financial institutions should also be equally concerned at sustaining themselves.

Aryal of SDBL promised efficient and professional banking services in a hassle free manner to the public in the area.

On the first day of operations, 863 depositors opened different kinds of accounts with the bank and the bank collected deposits worth Rs 3,177,500, according to Dipendra Kari, general manager of SDBL.