Mahalaxmi Bikas Bank starts joint transaction from today after successful merger

Sun, Sep 4, 2016 3:00 PM on Latest, Featured, Stock Market,
Mahalaxmi Finance Limited, Siddhartha Finance Limited and Malika Bikas Bank Limited has merged together forming Mahalaxmi Bikas Bank Limited. The joint transaction of trio financial institution starts from today ( Bhadra 19, 2073). As per the press release published today, Dr. Chiranjibi Nepal, Governor of Nepal Rastra Bank inaugurated the development bank today amid a program. Mahalaxmi Development Bank has now paid up capital of Rs 1.15 arba, deposits of Rs 11.94 arba and has extended loan and advances of Rs 9.54 arba. The total number of the newly formed development bank has reached to 40, with 11 ATM counters. The development bank has formed 8 member Board of Director (BOD) committee. Babulal Agrawal has been elected as the chairman and Ramesh Kumar Bhattarai has been elected as the Chief Executing Officer (CEO).