Sanima Bank plan

KATHMANDU, DEC 2: 

Sanima Bikas Bank’s seventh annual general meeting on Thursday has decided to change the name of the development bank as ‘Sanima Bank’ as it had received the LoI from Nepal Rastra Bank (NRB) to upgrade to commercial bank. Similarly, the meeting has also approved the 6.5 per cent cash dividend to shareholders. Sanima has amended its memorandum of association and article of association as required to upgrade the bank into a class ‘A’ financial institution, said the bank that is planning to apply for the operating license to Nepal Rastra Bank in near future. Sanima has plans to operate as a full fledged commercial bank from its own soon at Naxal. 

Source: THT