NIC bank ranks first
Kathmandu, July 13, 2005
Nepal Industrial & Commercial Bank (NIC-Bank) has been ranked number one by Nepal Rastra Bank (NRB), the central bank of the country, based on the result of an in-depth study of overall portfolio management of 15 commercial banks currently operating in the country. The Bank scored 1250 marks during the 3rd quarter of the current fiscal year, states a press release issued here by the bank today. Everest Bank scored 1043 to be ranked second and Standard Chartered Bank scored 1022 and stood third. Similarly Nabil Bank scored 1003, Laxmi Bank scored 997, Nepal Investment Bank scored 941, Bank of Kathmandu scored 919, Machhapuchhre Bank scored 915, Sidhhartha Bank scored 914 and Nepal SBI Bank scored 892 and positioned from fourth to tenth respectively. Likewise, Nepal Bangladesh Bank scored 872, Himalayan Bank scored 856, Kumari Bank scored 769, Nepal Credit & Commerce Bank scored 623 and Lumbini Bank scored 464, according to the statement. The banks were ranked as per the international standard of CAELS, the five key financial parametres— capital adequacy, assets quality, earnings, liquidity and sensitivity to market risks. Out of these five indicators, NIC bank obtained the highest score on assets, quality and earnings. NIC bank is a private sector banking institution established by national investors without any joint venture partner. Presently the bank has a network of eight branches spread from Birtamod in the east to Pokhara in the west.
UN mediation? No, thanks: Bista
Kathmandu, July 13, 2005
Vice-chairman of the council of ministers Kirti Nidhi Bista today ruled out UN mediation for resolving the Maoist conflict after meeting the visiting Special Advisor to UN General Secretary Kofi Annan, Lakhdar Brahimi. “The government is confident we are capable of resolving the Maoist problem ourselves. So no UN or international mediation is necessary,” said Bista. Asked if Brahimi had offered UN’s facilitation, he in turn asked, “When the issue didn’t even come up during my meeting with Brahimi, from where the proposal of UN mediation has come?” “Since Nepal is a member of UN, it is obvious that UN is showing concern about the situation created by the Maoists,” he said. He added that Brahimi’s visit was a continuation of Nepal-UN relations after the meeting between the King and UN General Secretary Kofi Annan on the sidelines of the Afro-Asian Summit in Jakarta in April. He accepted that Nepal needed the support of the international community, including UN, to resolve the current crisis, but said, “UN mediation is out of the question.” Responding to a query on Maoist supremo Prachanda’s call to political parties to hold talks and the response of parties to Prachanda’s call, Bista said the government had not “thought about it.”