Thursday, April 19, 2012

Kailash Bikas Bank to start operation from March 19

Annapurna Finance — that has been upgraded to a national level development bank by the central bank — is operating as Kailash Bikash Bank from April 24.
The first finance company outside the Kathmandu Valley Annapurna Finance was established on March 19, 1993 in Pokhara.
"Since its inception, the finance company has been providing best banking services to its customers," said chief executive of the newly upgraded development bank Krishna Raj Lamichhane.
The company that had received 'Letter of Appreciation' from Nepal Rastra Bank on its 50th anniversary celebrations is the only finance company to receive such award from the central bank, chairman Rajendra Giri said, adding that it has also received Best Presented Accounts Award from Institute of Chartered Accountants of Nepal. "The company has always valued corporate governance, transparency, sustainable development and qualitative customer service."
By the end of third quarter of the current fiscal year, it's paid up capital stood at Rs 704.3 million with total deposits worth Rs 4,428.6 million and total lending at Rs 3,894.10 million. Its total investment stands at Rs 258.40 millions, he said, adding that it has 19 branches throughout the country and adding three more soon.


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