Kathmandu,
Dec. 10: Century Commercial Bank Limited (CCBL) started joint operation with
Alpine Development Bank Limited and Seti Finance Limited from Sunday.
Governor
of the Nepal Rastra Bank (NRB) Dr. Chiranjivi Nepal inaugurated the joint
operation of the three commercial institutions amidst a programme here.
The
CCBL had decided to acquire the bank and financial institutions in August this
year while the Board of Directors of Alpine Development Bank and Seti Finance
Limited had passed the decision in July. The NRB gave its
nod to the decisions on November 20.
After
the acquisition, the bank’s paid up capital has reached Rs. 7.68 billion and
deposits and loan mobilisation to Rs. 49 billion and Rs. 45 billion
respectively.
The
bank now has 85 branch offices across the country.
It
said that bonus shares would be issued in the near future to meet the capital
requirement of Rs. 8 billion.
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