Fewa Bikas Bank opens new branch in Taalchowk, Kaski

Fewa Bikas Bank Limited (FEWA) has formally inaugurated Taalchowk branch of Lekhnath municipality, Kaski district. Shiva Raj Shrestha, Deputy Governor of Nepal Rastra Bank inaugurated the newly opened branch. The newly opened branch will provide ABBS, ATM, and SMS Banking service along with microfinance, remittance and loan services. Issuing a press statement it stated that in the FY 2072/73, Fewa Bikas Bank has an operating profit of Rs 48 crore. The development bank has collected deposits of Rs 11.73 arba and disbursed loan of Rs 10.22 arba. Fewa Bikas Bank and Gandaki Bikas Bank are merging with each other. As per an unaudited report of the FY 2072/73, both banks has paid up capital of Rs 1.53 arba, net profit of Rs 43 crore, deposits of Rs 17.27 arba and loan worth Rs 14.84 arba. At present, the bank is rendering services through 29 branch offices. After merger, the number of branches and ATM counter will reach to 50 and 21 respectively.