Our team caught up with Anil Shah, CEO of Mega Bank, to chat on various issues surrounding the financial sector of Nepal. We had asked him the effects of the massive earthquake and the unrest in Terai region in balance sheet of first quarter report of Mega Bank.
Mr. Shah said that the banks can cope with the effect of massive earthquake. It is the indefinite Terai bandh that will cripple financial sector in Nepal. Many major production industries are based in Terai. These industries are closed for about a month. So, in situation like this any quarterly report may not be in good health, added Mr. Shah. The damage caused by this unrest is about three folds than the damage caused by the massive earthquake. So, this bandhs has to stop for betterment of the financial sector of Nepal.
Mega bank is in merger process with Paschimanchal Bikas Bank Limited. Mega Bank last traded price stood Rs 395 and Paschimanchal Bikas Bank last traded price was Rs 283 as on 28th January, 2015 in NEPSE.
