Monday, November 22, 2010
15% cash dividend by Mahakali Bikas Bank
The BOD meeting of the company dated 2067/06/04 has decided to give 15% cash dividend subject to approval from NRB and its upcoming AGM
Up comming right share
Royal Merchant Banking and Finance Limited
Open: 2067/06/24
Close:2067/07/28
Unit: 14,78,093
Ratio:1:1
Issue Manager: Ace Capital Limited
Open: 2067/06/24
Close:2067/07/28
Unit: 14,78,093
Ratio:1:1
Issue Manager: Ace Capital Limited
Sebon asks investors not to panic
The Securities Board of Nepal (Sebon) has asked investors not to panic because of plummeting Nepse.
The regulatory authority of the capital market expressed its serious concern over the present state of Nepali securities market.
Sebon has urged the investors not to take decisions regarding selling or buying of shares based on rumours. “The investors need to be well-informed about the company’s financial indicators and performance history before they invest their money in any stock,” a press release issued here by the Sebon said.
At present, Nepse is hovering around 400 points — the lowest in almost last four years. Sebon, being the regulatory body, has assured the people that there is nothing to be worried about.
The statement dubbed the present free-fall of Nepse as a temporary phenomenon that is natural in any market and insisted the investors to have more patience and not fall prey to panic selling that maximizes the risk.
“Most of the preliminary process of establishing Central Depository System (CDS) has already been completed and since Mutual Funds Regulations are also in the offing, the entry of institutional investors through mutual funds would stabilise the market,” the Sebon said, adding that the addition of new stock brokers, most probably by next month, will also help the expansion and promotion of the market.
Sebon is also starting Capital Market Development Master Plan with an assistance from the World Bank. Under the plan, international consultants will study the condition of Nepali capital market and suggest the ways to improve it. “The programme will evidently improve overall state of the capital market,” it added.
(news source: thehimalayantimes.com)
The regulatory authority of the capital market expressed its serious concern over the present state of Nepali securities market.
Sebon has urged the investors not to take decisions regarding selling or buying of shares based on rumours. “The investors need to be well-informed about the company’s financial indicators and performance history before they invest their money in any stock,” a press release issued here by the Sebon said.
At present, Nepse is hovering around 400 points — the lowest in almost last four years. Sebon, being the regulatory body, has assured the people that there is nothing to be worried about.
The statement dubbed the present free-fall of Nepse as a temporary phenomenon that is natural in any market and insisted the investors to have more patience and not fall prey to panic selling that maximizes the risk.
“Most of the preliminary process of establishing Central Depository System (CDS) has already been completed and since Mutual Funds Regulations are also in the offing, the entry of institutional investors through mutual funds would stabilise the market,” the Sebon said, adding that the addition of new stock brokers, most probably by next month, will also help the expansion and promotion of the market.
Sebon is also starting Capital Market Development Master Plan with an assistance from the World Bank. Under the plan, international consultants will study the condition of Nepali capital market and suggest the ways to improve it. “The programme will evidently improve overall state of the capital market,” it added.
(news source: thehimalayantimes.com)
Book close and AGM of Nepal Investment Bank Limited
As decided by the 339th meeting of the Board of Directors, the 24th Annual General Meeting (AGM) of the company is going to be held on 27th Ashwin 2067.
Place: Rastriya Shavagriya, Pradasani Marga, Kathmandu
Time:10 am
Discussions:Annual Report, 25% Cash Dividend and so on.
The bank has decided to close the share transfer from 13th Ashwin, 2067 until completion of its 24th AGM.
Place: Rastriya Shavagriya, Pradasani Marga, Kathmandu
Time:10 am
Discussions:Annual Report, 25% Cash Dividend and so on.
The bank has decided to close the share transfer from 13th Ashwin, 2067 until completion of its 24th AGM.
NIB and EBL merger proposal on choppy sea
The proposed merger of Nepal Investment Bank Limited (NIBL) and Everest Bank Limited (EBL) is now on hold following discontent within the NIBL over the proposed plan.
Some of the NIBL board members and senior staffers are uncomfortable over the merger plan and claim NIBL Chairman Prithivi Bahadur Pande did not inform them about the plan. The issue was debated in the NIBL’s board meeting on Friday. Pande, however, has been maintaining that there had been just a preliminary understanding between the chairmen of two banks. “Now, the whole process is on hold for now,” said a senior NIBL official.
The two sides had signed a preliminary memorandum of understanding (MoU) for further negotiations, according to the NIBL letter sent to Nepal Stock Exchange (NEPSE) on Sept 21. The NEPSE had sought details from the two banks following news reports about the proposed merger. The EBL had also responded with similar content in its letter sent to NEPSE on Sept. 17.
Both banks have, however, maintained that the initial understanding was yet to be considered and approved by their respective board of directors.
The NEPSE had asked them banks about the status of the merger process to determine if the capital market should suspend the share trading of both. “We have to suspend shares trading of merging banks to prevent a sudden volatility in their share prices,” said Shankar Man Singh, general manager of the NEPSE. He, however, said that the NEPSE allowed continuation of shares trading after it was known that board of directors of both banks were yet to endorse the initial agreement. Even the EBL staff were in dark about the proposed merger. EBL Assistant General Manager Hum Nath Gurung said that they came to know about the understanding later. “The rumour and controversy has affected the process,” he added. Some board members of the NBIL maintain that the merger can be possible only if NIBL has a majority stake during the merger, amid reports that Pujab National Bank that has a stake in EBL had sought the majority stake.
The issue is likely to be hotly debated in the annual general meeting of EBL that is to be held on Thursday as well.
If the process goes ahead, it would be the biggest ever merger in Nepal’s banking history. Nepal Rastra Bank (NRB) also has a policy of encouraging mergers amid the growing number of banks and financial institutions so that it creates space for new entrants.
(news source: ekantipur.com)
Some of the NIBL board members and senior staffers are uncomfortable over the merger plan and claim NIBL Chairman Prithivi Bahadur Pande did not inform them about the plan. The issue was debated in the NIBL’s board meeting on Friday. Pande, however, has been maintaining that there had been just a preliminary understanding between the chairmen of two banks. “Now, the whole process is on hold for now,” said a senior NIBL official.
The two sides had signed a preliminary memorandum of understanding (MoU) for further negotiations, according to the NIBL letter sent to Nepal Stock Exchange (NEPSE) on Sept 21. The NEPSE had sought details from the two banks following news reports about the proposed merger. The EBL had also responded with similar content in its letter sent to NEPSE on Sept. 17.
Both banks have, however, maintained that the initial understanding was yet to be considered and approved by their respective board of directors.
The NEPSE had asked them banks about the status of the merger process to determine if the capital market should suspend the share trading of both. “We have to suspend shares trading of merging banks to prevent a sudden volatility in their share prices,” said Shankar Man Singh, general manager of the NEPSE. He, however, said that the NEPSE allowed continuation of shares trading after it was known that board of directors of both banks were yet to endorse the initial agreement. Even the EBL staff were in dark about the proposed merger. EBL Assistant General Manager Hum Nath Gurung said that they came to know about the understanding later. “The rumour and controversy has affected the process,” he added. Some board members of the NBIL maintain that the merger can be possible only if NIBL has a majority stake during the merger, amid reports that Pujab National Bank that has a stake in EBL had sought the majority stake.
The issue is likely to be hotly debated in the annual general meeting of EBL that is to be held on Thursday as well.
If the process goes ahead, it would be the biggest ever merger in Nepal’s banking history. Nepal Rastra Bank (NRB) also has a policy of encouraging mergers amid the growing number of banks and financial institutions so that it creates space for new entrants.
(news source: ekantipur.com)
Book close to issue right share of Prabhu Finance Company
Inorder to issue 2:1 right share Prabhu Finance Company will close it’s book from 2067/06/15 to 2067/06/18
and Finance will also announce notice about right share in future.
and Finance will also announce notice about right share in future.
Kankai Bikas Bank starts returning money
The issue manager Gorwmore Merchant Banker starts to refund money of share holder of Kankai Bikas Bank from 2067/06/07
AGM of Bank Of Asia
Date: 2067/07/14 ( as of 31 Oct 2010)
Time: 11 AM
Place: Amrit Bhog Complex, Kalikasthan, Dilli Bazar
discussions: 10.53% cash dividend,annual report and so on.
Book close: 2067/06/17 to 2067/07/14
Time: 11 AM
Place: Amrit Bhog Complex, Kalikasthan, Dilli Bazar
discussions: 10.53% cash dividend,annual report and so on.
Book close: 2067/06/17 to 2067/07/14
Share certificate of Swastik Merchant Finance
Ace Capital limited starts to distribute ordinary share certificate of Swastik Merchant Finance Company limited from today
Right share extension notice of Narayani National Finance
The issue manager ACE Capital Limited has extended the right share issue of Narayani National Finance up to 2067/06/17 ( As of Oct 3rd 2010)
Right share form can be filled from the following places:
1. Ace Development Bank, Naxal, Kathmandu
2. Narayani National Finance Limited, Pako, Newroad , Kathmandu
3. Narayani National Finance Limited, Narayangad, Chitwan
4. From the branches of Narayani National Finance Limited, Hakim chowk, Bharatpur, Ratnanagar, Tandi, Itahari, Sunshari, Dhalko, Chhetrapati
5. From the branches of Ace Development Bank Limited, Birjung, Parsa, Kritipur, Chabahil, Narayangad, Newroad kathmandu.
Details:
Company name:Narayani National Finance Limited
Ratio: 2:1
Total right share: 21,75,879
Right share form can be filled from the following places:
1. Ace Development Bank, Naxal, Kathmandu
2. Narayani National Finance Limited, Pako, Newroad , Kathmandu
3. Narayani National Finance Limited, Narayangad, Chitwan
4. From the branches of Narayani National Finance Limited, Hakim chowk, Bharatpur, Ratnanagar, Tandi, Itahari, Sunshari, Dhalko, Chhetrapati
5. From the branches of Ace Development Bank Limited, Birjung, Parsa, Kritipur, Chabahil, Narayangad, Newroad kathmandu.
Details:
Company name:Narayani National Finance Limited
Ratio: 2:1
Total right share: 21,75,879
AGM of Laxmi Bank Limited
Date:2067/07/14 (As of 31 Oct 2010)
Place: Nepal Prayatan Board, Bhrikuti Mandap, Kathmandu
Time: 2 PM
Discussions: 13% cash dividend, annual report, and so on
Book close:2067/06/15 to 2067/07/14 ( As of 1st Oct to 31st Oct, 2010)
Place: Nepal Prayatan Board, Bhrikuti Mandap, Kathmandu
Time: 2 PM
Discussions: 13% cash dividend, annual report, and so on
Book close:2067/06/15 to 2067/07/14 ( As of 1st Oct to 31st Oct, 2010)
Right share extension notice of Citizen Bank International
The issue manager Elite Capital Limited has extended the right share issue of Citizen Bank International up to 2067/06/27 ( As of Oct 13 2010)
Right share form can be filled from the following places:
1. Elite Capital Limited, Jamal, Kathmandu
2. Citizen Bank International , Kamaladi, kathmandu
3. Branches of Citizen Bank International
Ratio: 1:1
Right share: 100,00,000
Right share form can be filled from the following places:
1. Elite Capital Limited, Jamal, Kathmandu
2. Citizen Bank International , Kamaladi, kathmandu
3. Branches of Citizen Bank International
Ratio: 1:1
Right share: 100,00,000
EBL: Cash dividend and bonus share certificate distribution
Everest Bank Limited starts to distribute 30% dividend and 30% bonus share certificate from tomorrow (2067/06/12)
official hours:
10:00 am to 2:00 pm (sunday to thrusday)
10:00 am to 1:00 pm (friday)
official hours:
10:00 am to 2:00 pm (sunday to thrusday)
10:00 am to 1:00 pm (friday)
Energy Development Bank Limited will give 15% cash dividend
The BOD meeting of the company dated 2067/06/10 has decided to give 15% cash dividend from the profit of FY 2066/67 which is subject to approval from NRB and its upcoming AGM
Banks turn to creative ways to lure rural customers amid stiff competition in the cities
Growing competition among banks and financial institutions in cities is driving them to seek new pastures in rural areas. With the technology in place to help them expand their business in villages, they are using unconventional methods to lure potential customers.
Everest Bank has become the first to start branchless banking with “Everest Bank Ghar Dailo Banking Services”. It facilitates cash withdrawals, deposits and remittance through the point of transaction along with agent cards and smart cards for customers. Agents provide this service in rural areas. Everest Bank started it in July 2009. “With the ever growing need for banking services in the present context, this is a bid to serve customers at large,” said marketing executive Nabin Regmi.
The service, which was started in eight village development committees (VDCs) of Bhaktapur, now covers 11 more VDCs including five in Baglung and six in Banke. “As the technology enables banking transactions by fingerprints, even illiterates are benefiting,” added Regmi.
Laxmi Bank launched “Mobile Money” in October 2009 and Kumari Bank started “Kumari Mobile Cash” this August.
Customers of Laxmi Mobile Money and Kumari Mobile Cash can pay their utility, shopping and restaurant bills via this service using their mobile phones. Customers can also transfer funds from one account to another.
With a significant growth of cell phone users in rural areas, both banks hope to include rural people in mainstream banking via mobile phones. The money agents appointed by the banks can facilitate internal remittance in-country. Laxmi Bank gives this facility only to its account holders while Kumari said its services are available to all. One can access the service through 189 agents and 10-plus merchants under Kumari Mobile Cash, said Sanjaya Poudel, head of corporate strategy and development.
Laxmi introduced transfer facility first to its account holders via SMS under this system. It is also planning to go for branchless banking within 2010, according to Nikesh Ghimire, manager at bank 2.0 department of Laxmi Bank that deals with non-conventional banking. Only mobile users of Nepal Telecom get the services of Laxmi and Kumari at present. “Soon, we will include Ncell, CDMA and UTL customers,” said Poudel of Kumari.
Besides, three banks also use vehicles to deliver banking services. Everest, Sunrise and Kist are using vehicles to deliver banking services to the doorsteps.
Everest Bank has termed its “Bank on Wheels” an additional service to its existing customers. Everest Bank’s vehicle-based banking service is available in Damak, Bhadrapur and Kakarvitta through the Birtamod branch. Both Sunrise and Kist started vehicle-based services in May. Sunrise is providing this service in Chalnakhel and Chhaimale VDCs on the periphery of Kathmandu. Kist’s service is available in Dhapakhel, Thankot, Budhanilkantha, Tokha and Gothatar in Kathmandu and Nala in Kavre.
Banking vehicles have an ATM and a customer service desk, a teller desk and space for a few customers. Everest and Sunrise officials said they use V-SAT technology to link the vehicle with the nearest branch while Kist uses evolution data optimised (EVDO) technology. EVDO operates via broadband internet service through CDMA phone line.
“More than 700 customers have opened accounts in our vehicle-based service and deposited around Rs. 20 million,” said B.N. Gharti, chief business officer of Kist.
Sunrise has more than 600 account holders under this scheme with deposits amounting to around Rs. 15 million. Niranjan Aryal of the business management division, said people ask for small loans through this channel.
(news source: ekantipur.com)
Everest Bank has become the first to start branchless banking with “Everest Bank Ghar Dailo Banking Services”. It facilitates cash withdrawals, deposits and remittance through the point of transaction along with agent cards and smart cards for customers. Agents provide this service in rural areas. Everest Bank started it in July 2009. “With the ever growing need for banking services in the present context, this is a bid to serve customers at large,” said marketing executive Nabin Regmi.
The service, which was started in eight village development committees (VDCs) of Bhaktapur, now covers 11 more VDCs including five in Baglung and six in Banke. “As the technology enables banking transactions by fingerprints, even illiterates are benefiting,” added Regmi.
Laxmi Bank launched “Mobile Money” in October 2009 and Kumari Bank started “Kumari Mobile Cash” this August.
Customers of Laxmi Mobile Money and Kumari Mobile Cash can pay their utility, shopping and restaurant bills via this service using their mobile phones. Customers can also transfer funds from one account to another.
With a significant growth of cell phone users in rural areas, both banks hope to include rural people in mainstream banking via mobile phones. The money agents appointed by the banks can facilitate internal remittance in-country. Laxmi Bank gives this facility only to its account holders while Kumari said its services are available to all. One can access the service through 189 agents and 10-plus merchants under Kumari Mobile Cash, said Sanjaya Poudel, head of corporate strategy and development.
Laxmi introduced transfer facility first to its account holders via SMS under this system. It is also planning to go for branchless banking within 2010, according to Nikesh Ghimire, manager at bank 2.0 department of Laxmi Bank that deals with non-conventional banking. Only mobile users of Nepal Telecom get the services of Laxmi and Kumari at present. “Soon, we will include Ncell, CDMA and UTL customers,” said Poudel of Kumari.
Besides, three banks also use vehicles to deliver banking services. Everest, Sunrise and Kist are using vehicles to deliver banking services to the doorsteps.
Everest Bank has termed its “Bank on Wheels” an additional service to its existing customers. Everest Bank’s vehicle-based banking service is available in Damak, Bhadrapur and Kakarvitta through the Birtamod branch. Both Sunrise and Kist started vehicle-based services in May. Sunrise is providing this service in Chalnakhel and Chhaimale VDCs on the periphery of Kathmandu. Kist’s service is available in Dhapakhel, Thankot, Budhanilkantha, Tokha and Gothatar in Kathmandu and Nala in Kavre.
Banking vehicles have an ATM and a customer service desk, a teller desk and space for a few customers. Everest and Sunrise officials said they use V-SAT technology to link the vehicle with the nearest branch while Kist uses evolution data optimised (EVDO) technology. EVDO operates via broadband internet service through CDMA phone line.
“More than 700 customers have opened accounts in our vehicle-based service and deposited around Rs. 20 million,” said B.N. Gharti, chief business officer of Kist.
Sunrise has more than 600 account holders under this scheme with deposits amounting to around Rs. 15 million. Niranjan Aryal of the business management division, said people ask for small loans through this channel.
(news source: ekantipur.com)
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