KATHMANDU: Two years ago, on this very day, the 22nd and 23rd commercial banks — Bank of Asia

Nepal and Sunrise Bank — began their operations.

Sunrise Bank started with the aim of becoming one of the leading banks by 2012. “It has expanded its reach and added 24 branches in two years,” said Sunrise Bank’s acting chief executive officer Suman Neupane. Kishore Maharjan led the bank for two years before resigning last week. T M Duggar group is one of the promoters of Sunrise Bank.

Shangai group and Bishal group are the major promoters of Bank of Asia Nepal that aims at providing quality services on demand-based approach. There are 26 commercial banks today but the market is not growing in proportion to the number of players that has been increasing in geometrical proportion recently.

The banking yield has gone down because of cut-throat

competition.