Nepal Bank to auction shares of Deprosc Laghubitta, Sana Kisan Bikas Bank & CIT

Nepal Bank Limited (NBL) has started necessary preparations to sell its shares of Deprosc Development Bank Limited, Sana Kisan Bikas Bank Limited and Citizen Investment Trust. The bank has appointed NIBL Capital Markets Limited for calculation of rate of the shares. As per the agreement with NIBL Capital, the merchant banker will submit a detailed report in 13 days. Last year, Nepal Bank had auctioned 3,99,940 units promoter shares of CIT, 7 lakh units ordinary shares of Taragaon Regency Hotel and 10,31,674 units promoter shares of Nepal Insurance Company. Nepal Bank Limited has earned net profit has of Rs. 2.51 arba in the third quarter of the fiscal year 2073/74. Its paid up capital after recently concluded right share and auction of unclaimed right shares has reached Rs 8.04 arba, thereby becoming third commercial bank (after Rastriya Banijya Bank and Nepal Investment Bank) to meet up with Nepal Rastra Bank's minimum paid up capital requirement of Rs 8 arba.