The Kathmandu Post

Economy

Himalayan Bank profits Rs 124 m
By a Post Reporter

KATHMANDU, Feb 24 - Himalayan Bank Limited celebrated its fourth annual general meeting today announcing operating profit of Rs 223.24 million and net profit of Rs. 124.12 million. The Bank has also announced to provide 25 percent dividend to its shareholders.

Presenting annual report of the Bank, Executive Committee Chairman Narsingh Bahadur Shrestha said that in the last fiscal year the Bank’s deposit was Rs 4.51 billion, out of which it Rs. 3.55 billion was invested and loaned out. He said that till December 1996 the Bank’s deposit reached to Rs 480 million, and investment to Rs 347 million, which is 6.75 and 6.62 percent of the total deposit and investment by the commercial banks of the country, respectively.

Speaking on the occasion, Chairman Shrestha said that the recent Nepal - India Trade Treaty would increase financial activities in the country, which would contribute to the industrialization of the country. He also hoped that the increased economic transaction would eventually help the banking sector as well.

In the last operational year Himalayan Bank started a service to let customers deposit and withdraw money from any branches within the valley, irrespective of the branch they have account with. The Bank has announced a plan to open branches in Patan, Sainbu, Birgunj, Parwanipur, Narayangarh and Chitwan (Tandi). It has also announced to convert Teaching Hospital counter into a branch. Similarly, it has also announced to internationalize credit card, for which the Bank will start issuing Visa card.

 

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