Finance
Minister Shankar Prasad Koirala requested the banks and financial institutions
to help make economy productive.
Addressing
the 47th anniversary of Agricultural Development Bank Ltd, he said that the banks
and financial institutions should play a lead role in transforming import-based
economy into a production-based economy. "The state-owned banks should
also become competitive," he said, adding that the government is planning
to lower gradually its stake in the bank to make it more competitive and self
dependent. "The government has adopted zero-interference policy in the
public enterprises."
Central bank
governor Dr Yuba Raj Khatiwada, on the occasion said that the government intervention
shouldn't be taken otherwise. "The government has its responsibility
toward depositors and tax payers," he said, adding that it has to keep
vigil on the banks and financial institutions.
Urging the
bank to float agri-loan at lower interest rates, he said that the older
institutions do not mean they are financially strong. "They should also
look back at the society and get involved in the corporate social
responsibility."
Banking
reform would help boost production, income, efficiency and good governance,
said Nepal Bankers' Association (NBA) president Rajan Singh Bhandari.
Chairman of
the bank Pramod Kumar Karki, on the occasion, vowed to make the bank more
competitive and efficient in service delivery.
Briefing
about the bank's plan of bringing strategic partner, chief executive of the
bank Tej Bahadur Budhathoki said that the strategic partner will be inducted
within September.
currently,
the government holds 51 per cent stake, whereas it plans to sell 30 per cent
shares to the strategic partner.
The bank – that has Rs 9.63
billion paid-up capital bank – has Rs 13 billion authorised capital. The bank
has 243 branch network and is listed in the Nepal Stock Exchange. The bank's
shares has been trading at around Rs 490 per unit. The bank has listed
31,930,000 units of its shares at the Nepse.
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