Nepal Rastra Bank (NRB) has given operating licence to Social Development Bank, a national-level development bank. This is the 15th national level ‘B’ class financial institution.
Social Development Bank has been promoted by 96 promoters and will start its banking operation from October 13, from its corporate office at Naxal, Kathmandu.
The bank with its issued capital worth Rs 759 million has plans of conducting
Initial Public Offering (IPO) in two years.
“We will soon announce attractive deposit and credit schemes for the opening,” Amir Dhwoj Pradhan, managing director of the bank, said.
“Next year, we plan to extend our branches throughout the country and provide all modern banking services,” he said.
At present, there are 29 ‘A’ class commercial banks, 80 ‘B’ class development banks including national and regional ones, and 79 finance companies.
(source:thehimalayantimes.com)
Social Development Bank has been promoted by 96 promoters and will start its banking operation from October 13, from its corporate office at Naxal, Kathmandu.
The bank with its issued capital worth Rs 759 million has plans of conducting
Initial Public Offering (IPO) in two years.
“We will soon announce attractive deposit and credit schemes for the opening,” Amir Dhwoj Pradhan, managing director of the bank, said.
“Next year, we plan to extend our branches throughout the country and provide all modern banking services,” he said.
At present, there are 29 ‘A’ class commercial banks, 80 ‘B’ class development banks including national and regional ones, and 79 finance companies.
(source:thehimalayantimes.com)
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