Mega Bank enters into 8th year of operation
Sun, Jul 23, 2017 10:30 AM on Latest, Featured, Stock Market,
Mega Bank Nepal Limited has entered into 8th year of its operation. On the occasion of 7th Anniversary of the Bank, Chairman of the Bank Mr. Bhoj Bahadur Shah announced to take the bank forward in accordance with the federal structure and establish “Province Headquarter” in all the seven provinces. The bank has initiated the same from Province No. 5 at Butwal.
The Bank is in merger process with Tourism Development Bank Limited (TDBL) and after the merger the bank will have highest authorized capital among other banks. The merger process with the TDBL will conclude within this fiscal year. With the federal structure new opportunities and challenges have increased in the Nepalese Financial Market. Moreover, with the emergence of new cities due to Hulaki Highway and Madhye-Pahadi Highway, the Bank will focus to establish new contacts and relation in those areas to facilitate with banking services. The Bank has already prepared 5 years Strategic Plans after consulting with Experts. After analyzing financial sectors the Bank will mainly focus on Agriculture, Tourism and Hydropower sectors added Mr. Shah.
Anil Keshary Shah, CEO of Mega Bank Nepal Limited said that “the Bank will extend further 20 branches in this fiscal year. Although the banking sector faced liquidity crisis in the last Fiscal Year, the bank has earned satisfactory profit. The bank is in process to distribute 65% of the right shares that has already been initiated.”
On the auspicious Occasion of the Bank’s 7th Anniversary Mr. Shah announced to launch “Bancassurance” service from the Bank. From this service, the valued customers can avail facilities to get information regarding Life and Non-Life insurance from Mega bank itself. The Bank has already made agreement with Nepal Life Insurance Company for Life Insurance Service and for Non-Life Insurance the Bank entered into agreements with different companies.
In line with the “Halo to Hydro – Plough to Power” ethos of Mega Bank Nepal Limited, the institution has been prioritizing Small and Medium Enterprises (SME) and Micro Banking sectors. In the last Fiscal Year 2073/74 the bank’s deposit has increased by NPR 8 Billion to reach NPR 39 Billion and the Bank’s loan has increased by NPR 7.4 Billion to reach NPR 35.15 Billion. The bank’s customer base has reached to 2 lakhs 60 thousand. The bank’s average loan is NPR 34 lakhs and average deposit is NPR 1 lakh 49 thousand.
With 47 Branches and one extension counter, 50 ATMs, 58 Branchless Banking Centers and more than 1500 Mega Remit agents throughout the country, Mega Bank offers a wide range of banking products and financial services to the entire population strata.
Corporate Social Initiative
On the occasion of the Bank’s 7th Anniversary, the bank handed over NPR 100,000 (One Hundred Thousand Rupees) to “Garib Tatha Anath Balika Griha” located at Bouddha, Kathmandu.
Chairman, Bhoj Bahadur Shah and CEO, Anil Keshary Shah handed over a cheque of NPR 100,000/- (One Hundred Thousand Rupees) to “Garib Tatha Anath Balika Griha, an NGO working to provide quality education and a good childhood to financially weak and needy girls. The organization headed by Ms. Purna Maya Gurung has been supporting the education of 29 girls. The support is extended as a part of the Bank’s Corporate Social Responsibility which has been an integral focus area of MBNL year on year and as in every year.
The Bank is in merger process with Tourism Development Bank Limited (TDBL) and after the merger the bank will have highest authorized capital among other banks. The merger process with the TDBL will conclude within this fiscal year. With the federal structure new opportunities and challenges have increased in the Nepalese Financial Market. Moreover, with the emergence of new cities due to Hulaki Highway and Madhye-Pahadi Highway, the Bank will focus to establish new contacts and relation in those areas to facilitate with banking services. The Bank has already prepared 5 years Strategic Plans after consulting with Experts. After analyzing financial sectors the Bank will mainly focus on Agriculture, Tourism and Hydropower sectors added Mr. Shah.
Anil Keshary Shah, CEO of Mega Bank Nepal Limited said that “the Bank will extend further 20 branches in this fiscal year. Although the banking sector faced liquidity crisis in the last Fiscal Year, the bank has earned satisfactory profit. The bank is in process to distribute 65% of the right shares that has already been initiated.”
On the auspicious Occasion of the Bank’s 7th Anniversary Mr. Shah announced to launch “Bancassurance” service from the Bank. From this service, the valued customers can avail facilities to get information regarding Life and Non-Life insurance from Mega bank itself. The Bank has already made agreement with Nepal Life Insurance Company for Life Insurance Service and for Non-Life Insurance the Bank entered into agreements with different companies.
In line with the “Halo to Hydro – Plough to Power” ethos of Mega Bank Nepal Limited, the institution has been prioritizing Small and Medium Enterprises (SME) and Micro Banking sectors. In the last Fiscal Year 2073/74 the bank’s deposit has increased by NPR 8 Billion to reach NPR 39 Billion and the Bank’s loan has increased by NPR 7.4 Billion to reach NPR 35.15 Billion. The bank’s customer base has reached to 2 lakhs 60 thousand. The bank’s average loan is NPR 34 lakhs and average deposit is NPR 1 lakh 49 thousand.
With 47 Branches and one extension counter, 50 ATMs, 58 Branchless Banking Centers and more than 1500 Mega Remit agents throughout the country, Mega Bank offers a wide range of banking products and financial services to the entire population strata.
Corporate Social Initiative
On the occasion of the Bank’s 7th Anniversary, the bank handed over NPR 100,000 (One Hundred Thousand Rupees) to “Garib Tatha Anath Balika Griha” located at Bouddha, Kathmandu.
Chairman, Bhoj Bahadur Shah and CEO, Anil Keshary Shah handed over a cheque of NPR 100,000/- (One Hundred Thousand Rupees) to “Garib Tatha Anath Balika Griha, an NGO working to provide quality education and a good childhood to financially weak and needy girls. The organization headed by Ms. Purna Maya Gurung has been supporting the education of 29 girls. The support is extended as a part of the Bank’s Corporate Social Responsibility which has been an integral focus area of MBNL year on year and as in every year.
