The
Centrel Bureau of Investigation (CIB) under Nepal Police today afternoon
arrested three higher officials of Kist Bank on chargess of lending Jamko
Publication without enough collateral.
The CIB
arrested acting chief executive of Kist Bank Bal Narsimha Gharti, deputy
general manager Pragun Shrestha, deputy manager Manjay Raj pandey and valuator
Komananda Adhikari for their involvement in the lending.
Likewise,
CIB has arrested the then director and head of the Lending Committee of
Siddhartha Development Bank Madan Bahadur Basnet, who is accused of being
involved in lending Rs 49.9 million to Shova Giri, has also been arrested on
November 20.
Kist
Bank had lent Rs 120 million to the Jamko Publication for its business
expansion without enough collateral, the CIB said, adding that it has been in
search for some more officials involved in the case.
In the
same case of lending Jamko Publication, the CIB had in June arrested Gauri
Khanal Gnawali, the wife of then managing director of the bank Kamal Prasad Gnawali, who resigned
after the arrest of his wife.
Kist Bank had appointed Bal Narsimha Gharti as acting chief executive after Gnawali's resignation.
Kist Bank had appointed Bal Narsimha Gharti as acting chief executive after Gnawali's resignation.
Likewise, the bank has today
appointed Bhesraj Khatiwada as acting chief of the bank that is planning to
hold annual general meeting next month.
Kist Bank that has some Rs 20
billion deposit – by the end of the first quarter of the current fiscal year –
has been improving its financial health as it has been reducing its toxic
assets and cutting down the realty lending to the central bank prescribed
level. It has also reduced its loss to Rs 27.40 million in the first quarter of
the current fiscal year.
The bank's share trading
has been suspended by the Nepal Stock Exchange (Nepse) as it was planning to merge with
Vibor Development Bank. But the merger plan was dropped recently and the bank
was planning to start its share trading at the Nepse this week.
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