Banking News
NRB to Sell Gold Coins and Silver Medallions for Tihar from November 5
Nepal Rastra Bank (NRB) will sell 2.5-gram gold coins and 10-gram silver medallions featuring Goddess Laxmi and Lord Ganesh on November 5 and 6 (Kartik 19 and 20) from its Minting Division in Babarmahal, Kathmandu.
Himalayan Laghubitta Proposes 5% Dividend for FY 2082/83
Himalayan Laghubitta (HLBSL) has proposed a 5% dividend for shareholders, comprising 4.75% bonus shares and 0.25% cash dividend for the fiscal year 2082/83.
Rastriya Banijya Bank Reports 175.52% Growth in Q1 Net Profit
Rastriya Banijya Bank Limited has reported a remarkable 175.52% year-on-year growth in net profit, earning Rs. 1.64 billion in the first quarter of FY 2083/84, compared to Rs. 598.73 million in the corresponding period of the previous fiscal year. The significant growth was driven by a sharp increase in net interest income and a substantial decline in impairment charges.
Kumari Bank Reports Rs. 1.07 Arba Net Profit in Q1; Operating Profit Jumps 32.39%
Kumari Bank Limited (KBL) has reported a modest 1.70% year-on-year growth in net profit, earning Rs. 1.07 billion in the first quarter of FY 2083/84, compared to Rs. 1.06 billion in the corresponding period last fiscal year. Despite a decline in net interest income, the bank recorded strong growth in operating profit, supported by a significant reduction in impairment charges and operating expenses.
NMB Bank Reports 27.11% Growth in First-Quarter Net Profit
NMB Bank Limited has reported a 27.11% year-on-year increase in net profit, earning Rs. 1.16 billion in the first quarter of FY 2083/84, compared to Rs. 915.98 million in the corresponding period of the previous fiscal year. The growth was supported by higher operating income, increased net interest income, and a significant decline in impairment charges.
Nabil Bank Reports 45.5% Growth in First-Quarter Net Profit
Nabil Bank Limited has reported a significant increase in net profit for the first quarter of fiscal year 2083/84, earning Rs. 2.55 billion compared to Rs. 1.75 billion in the corresponding period last fiscal year. Improved interest income, higher fee and commission earnings, and a substantial reduction in impairment charges contributed to the growth.
Japan Finally Achieves 2% Inflation Target After 13 Years, BoJ Holds Interest Rate at 1.25%
The Bank of Japan (BoJ) has announced that Japan's underlying inflation has finally reached its 2% price stability target, more than 13 years after the goal was introduced in 2013. The central bank has maintained its key interest rate at 1.25%, while expectations of a possible rate hike in December continue to grow.
Shangri-la Development Bank Completes 22 Years, Enters 23rd Year of Operations
Shangri-la Development Bank Limited has completed 22 years of operation and officially entered its 23rd year. Marking the milestone, the bank organized an anniversary celebration at its central office in Baluwatar on Friday and announced several healthcare, education, and community support initiatives.
NRB Cuts Shareholdings of 35 Karnali Development Bank Shareholders to Just 1%
A management group formed by Nepal Rastra Bank (NRB) has reduced the shareholdings of 35 shareholders of troubled Karnali Development Bank Limited to 1%. The decision follows findings that the bank's paid-up capital had been completely eroded and some share capital had been illegally subscribed.
Dinesh Thakali Unanimously Elected President of Development Bankers Association Nepal
Dinesh Thakali, Chairman of Kamana Sewa Bikas Bank, has been unanimously elected as the new president of Development Bankers Association Nepal (DBAN). The association selected a nine-member executive committee during its 21st Annual General Meeting held in Kathmandu.
Sudurpashchim Economy Projected to Reach Rs. 463.89 Billion, With Growth Estimated at 3.28%
Nepal Rastra Bank's latest annual economic report projects Sudurpashchim Province's GDP at Rs. 463.89 billion for FY 2025/26, accounting for 7.03% of Nepal's national economy. While agriculture, tourism, banking, and infrastructure show mixed progress, declining agricultural credit and relatively low industrial capacity utilization remain major concerns.
Citizens Bank Offers Up to 15% Discount at Athlete Land
Citizens Bank International has partnered with Athlete Land in Lalitpur to provide customers with discounts of up to 15% when they pay using the bank’s cards or mobile banking services.